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Articles by Mandy Williams

FTX to Auction Off Remaining Solana (SOL) Tokens: Report

6 hours ago

Bankrupt cryptocurrency exchange FTX is looking to offload its remaining Solana native tokens, SOL, via an auction this week.
According to a Bloomberg report, people familiar with the matter said the bankruptcy estate would auction an unspecified amount of SOL in the hopes of receiving a higher price than that which they would have gotten through direct sales.
FTX to Sell SOL Via Auction
The blond auction represents a shift from the fixed-price sales the bankruptcy estate has engaged in over time. Notably, most creditors have expressed dissatisfaction with the direct sales approach as it undermines the value of the FTX’s assets, minimizing creditors’ potential recovery.
Since FTX began offloading its SOL via direct sales, it has attracted the interest of major crypto firms

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Over $500M Ethereum (ETH) Left CEXs as Market Prepares for Impulsive Move: Data

3 days ago

Data from IntoTheBlock revealed that investors withdrew approximately half a billion ETH from centralized exchanges last week, the highest the asset has seen since February.
$500M ETH Leaves CEXs
The withdrawal of large amounts of ETH from centralized exchanges signals investor confidence in the long-term price trajectory of the asset. Market participants usually withdraw their cryptocurrencies from centralized trading platforms to hold the assets in their private wallets or cold storage in anticipation of higher prices.
Such large withdrawals have been considered an indicator of bullish sentiment and holding attitude among investors. Most of the time, ETH has recorded substantial gains in the weeks following large withdrawals from exchanges.
Anticipation for higher ETH

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Bitcoin Traders Reduced Exposure Ahead of Halving: CryptoQuant

5 days ago

Bitcoin’s fall to $61,000 over the weekend was a result of market participants reducing their exposure to the digital asset ahead of the halving slated for April 20, according to the latest CryptoQuant weekly report.
Analysts said traders closed their long positions to take profits, and now, the volume of sell orders in the perpetual futures markets is dominating buy orders. This is evident in the Buy Sell Ratio, which has declined below one. The ratio rallies above one when buy orders dominate sell orders.
Traders Decrease Exposure to Bitcoin
As traders decreased their exposure to Bitcoin, total open interest fell from 250,000 BTC to approximately 220,000 BTC. Short-term holders (entities holding BTC for less than six months) offloaded their assets to realize high-profit

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Bitcoin Exchange Outflows Intensify as Market Recovers From Weekend Wipeout: Bitfinex

8 days ago

The neutralization of funding rates in crypto perpetual markets following the drawdown suggested that the correction was healthy and that volatility may eventually decline.
With the Bitcoin halving a few days away, the amount of BTC leaving centralized exchanges has risen to levels not seen for more than 15 months. At the same time, the number of BTC that have not moved in over a year has declined significantly.
According to the Bitfinex Alpha report, these on-chain activities come as Bitcoin recovers from a two-day plunge that triggered a massive liquidation cascade over the weekend.
BTC Exchange Outflows Surge
The net amount of BTC that exited exchanges on April 12 was the highest seen since January 2023. Bitfinex analysts found that investors transferred 6,767 BTC on

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Internet Computer (ICP) Integrates Threshold-Schnorr Signatures for Enhanced Bitcoin Operations

9 days ago

Decentralized blockchain network Internet Computer Protocol (ICP) has successfully implemented threshold-Schnorr signatures to harness the potential of Bitcoin-based decentralized finance (DeFi) and web3.
According to a release seen by CryptoPotato, the new cryptographic signature scheme will enable ICP smart contracts to etch the Bitcoin token standard, Runes, and trade BRC-20 tokens.
Implementing Threshold-Schnorr Signatures
Threshold-Schnorr is a digital signature scheme that enables the secure signing of transactions and messages on-chain by facilitating the common ownership of a private key by a group of network participants.
ICP said combining threshold-Schnorr-BIP340 with its integration with the Bitcoin network gives rise to new possibilities for decentralized

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Bitcoin Could Skyrocket to $650K If This Happens, According to Willy Woo

9 days ago

Bitcoin (BTC) could be worth $91,000 at the bottom of the bear market and $650,000 at the top of the bull cycle upon the full deployment of the cryptocurrency’s exchange-traded funds (ETFs) in the coming years.
According to a tweet by Bitcoin analyst Willy Woo, the digital asset can achieve these price targets if investors fully deploy Bitcoin ETFs according to the recommendations of asset management firms.
Bitcoin’s New Price Targets
To substantiate his claim, the Bitcoin analyst elaborated some calculations based on allocation recommendations, self-custody inflows, and market value to realized value (MVRV), which is the ratio between the market value of BTC and its realized value.
Woo explained that asset managers like Fidelity are advocating for modest crypto portfolio

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Satoshi Era Miner Wakes From 14-Year Slumber, Moves 50 BTC to Coinbase: Data

10 days ago

A miner wallet from the early years of the cryptocurrency market has awoken from a long slumber, moving its assets to a centralized exchange.
According to a tweet by Lookonchain, the wallet moved 50 BTC worth over $3.28 million to the crypto exchange Coinbase in the early hours of the Asian trading session.
Miner Wallet Moves 50 BTC
The wallet address 15sxzZ earned the BTC after validating a block on April 23, 2010, and has held the cryptocurrencies since then. At the time, Bitcoin’s value hovered around $0.04, and the stash was worth roughly $2.
On October 25, 2020, the address received 547 satoshis worth $0.36, possibly to settle gas fees when the time to move the coins arrived. By this time, Bitcoin’s value had increased to $13,100, and the 50 BTC stash was worth more

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Here’s Why the Effect of Bitcoin Halving is Diminishing, According to CryptoQuant

12 days ago

Crypto market analytics platform CryptoQuant believes the effects of Bitcoin halvings have been diminishing and that the upcoming event will have an even smaller impact on BTC’s value.
In the latest edition of the firm’s weekly crypto report, analysts said the effect of the halving has been reducing because the new issuance of BTC keeps getting smaller in relation to the number being sold by long-term holders, signaling that demand will be the key driver of prices post-halving.
Bitcoin Halving Effect on a Decline
According to the report, Bitcoin monthly issuance has fallen to 4% of the total BTC supply available. Before the first, second, and third halving events, Bitcoin issuance represented 69%, 27%, and 10% of the available BTC supply. Last year, Bitcoin issuance

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Bitcoin (BTC) Could Witness Further Price Declines if This Happens

12 days ago

A CryptoQuant analyst has revealed that Bitcoin (BTC) still faces the risk of a deeper price correction even as the halving event draws near.
According to a Quicktake by Gaah on the on-chain analysis platform, the crypto market is still hot as it is in a dangerous price region for leveraged traders. Significant pressure could trigger a correction that would break bitcoin’s current price structure.
BTC Faces Correction Risk
At the time of writing, open interest for Bitcoin hovered around the middle range, signaling that investors have a neutral sentiment in their interest in new positions. Regardless, the price of BTC remains in the region of the last top-created positions in March.
The open interest range is also volatile in the upper region, meaning there is room for more

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Meme Coins Dominate Profit Distribution Among Altcoins as BTC Rallies Above $70K

13 days ago

Bitcoin’s (BTC) rally back to $70,000 has caused the value of meme coins to increase, making them the most profitable group among altcoins.
According to a tweet by Santiment, the meme coin sector has experienced remarkable growth over the past week, regardless of their apparent lack of utility and the crypto community’s unfavorable stance on their existence.
Meme Coins Dominate Altcoin Sector
Santiment explained that speculative asset growth, as seen in the meme coin space, has been one of the main themes of the crypto sector in 2024, dispelling beliefs that pumps targeted at projects with minimal development are red flags.
Such dramatic rises in value have been deemed signals that the cryptocurrencies in question are nearing their peak. However, Santiment believes the

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Wilder World Partners Samsung to Integrate Metaverse in Smart TVs

14 days ago

The team behind the Wilder World metaverse has entered a partnership with technology giant Samsung to bring its multiplayer virtual world to a wider audience through the company’s smart TVs.
According to an announcement sent to CryptoPotato, the collaboration will leverage Samsung’s extensive distribution network to introduce Wilder World to millions of households.
Wilder World Taps Samsung for Metaverse Integration
Wilder World’s integration into the Samsung ecosystem will begin with the inclusion of the metaverse’s assets and information on the company’s platforms and non-fungible token (NFT) gallery. The alliance focuses on Samsung’s launch of its Gen3 initiative, which is geared toward bringing web3 to its devices and gadgets.
The metaverse creator will also

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Binance Has Matured Since DOJ $4.3B Settlement: CEO Richard Teng

15 days ago

Richard Teng, CEO of the world’s largest cryptocurrency exchange, Binance, believes the trading giant is past the cultural issues after it settled criminal charges from the United States Department of Justice (DOJ) with a $4.3 billion fine.
During an interview with CNBC, Teng said Binance had moved past the early stage of its development, where there were no clear rules, and it had to operate in a certain way to stay relevant.
Binance Has Moved Past Cultural Issues
In November 2023, the DOJ unsealed a criminal indictment against Binance, accusing the firm of willfully floundering the Bank Secrecy Act and failing to implement a strong anti-money laundering program to prevent the platform from becoming a hub of illicit activities.
The exchange’s founder, Changpeng Zhao,

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Polkadot Selects Indy 500 Brand Ambassador Via Blockchain

15 days ago

For the first time in history, a cryptocurrency firm has used blockchain technology to select an athlete for a brand ambassador sponsorship deal.
According to a press release sent to CryptoPotato, the Polkadot community just passed a vote to sponsor IndyCar racing star Conor Daly as Polkadot brand ambassador for the upcoming Indianapolis 500, an annual automobile race held at Indianapolis Motor Speedway.
Daly as Polkadot’s Indy 500 Ambassador
The Indy 500 race is slated for May 26, and the tournament will mark the beginning of a year-long collaboration between Polkadot and Daly. The deal will extend beyond the racetrack as Polkadot will host interactive community events and digital initiatives to engage Daly’s fans and introduce them to the cross-chain network.
The

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Here’s the Number of Bitcoin Addresses at a Loss as BTC Retests Its ATH Price

16 days ago

In the past 24 hours, Bitcoin (BTC) has rallied roughly 5%, surging past $72,000 in an attempt to retouch its all-time high. This upward trajectory has significantly reduced the number of addresses holding the digital asset at a loss.
According to data on IntoTheBlock, there are currently zero BTC addresses at a loss as the cryptocurrency hovers around $72,600.
Zero BTC Addresses at a Loss
A few hours before writing time, a tweet by IntoTheBlock revealed that over 30,000 Bitcoin addresses were at a loss, with a volume of 10,540 BTC. However, BTC’s continuous climb has eliminated the losses, placing the addresses at the money.
With zero addresses out of the money, roughly 99.6% of Bitcoin addresses, comprising 51.82 million wallets, are in profit, leaving over 183,000

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Bitcoin Sees Third Best Quarterly Trading Volume in 3 Years: Report

18 days ago

The first quarter of 2024 turned out to be Bitcoin’s (BTC) third-best in the past three years, according to a report from crypto data analytics platform Kaiko.
It revealed that the leading digital asset recorded over $1.4 trillion in trading volumes between January and March 2024.
A Surge in Bitcoin Trading Volume
Q1 2024 was Bitcoin’s best quarter in a year as the network witnessed a surge in trading volume. The $1.4 trillion traded in the quarter was the largest cumulative amount the network had seen in more than two years, representing a 107% increase from the $674 billion recorded in Q4 2023.
The last time Bitcoin recorded similar trading volumes was in Q1 and Q2 2021, when the network traded over $1.93 trillion and $2.16 trillion, respectively. A similar but smaller

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Bitcoin Miners Compete for Profitability Ahead of Halving: CryptoQuant

19 days ago

With the fourth Bitcoin halving approximately 15 days away, miners are focused on increasing their profitability before their block rewards are significantly reduced.
Although some Bitcoin mining companies have increased their selling activity, they still face challenges like lower transaction fees, increasing mining competition, and the need for higher computing power to produce the same amount of BTC.
Miners Struggle to Sustain Profitability
The reduction of Bitcoin block rewards from 6.25 BTC to 3.125 BTC will significantly affect miners. Their revenues will be slashed by 50%, and they will need higher BTC prices to sustain their profitability.
CryptoQuant’s latest weekly crypto report revealed that the mining industry’s daily revenue reached record levels in 2024 due

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Pyth Network Unveils Price Feeds For W/USD And USDB

20 days ago

Price feed oracle and market data provider Pyth Network has released new price feeds for two blockchain tokens: W and USDB.
According to a press release shared with CryptoPotato, both price feeds have become available on roughly 50 blockchains that have integrated Pyth in their protocols.
Pyth Launches Price Feeds For W And USDB
W is the governance token for Wormhole, a cross-chain messaging platform that allows developers to build interoperable decentralized applications. Although Wormhole launched its protocol three years ago, the platform released W on April 3, with an initial circulating supply of 1.8 billion and a maximum supply of 10 billion.
Around 82% of W are currently locked and will be unlocked over a four-year vesting period, according to a Token Release

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Here’s When We Can Expect Bitcoin’s Price Top After the April Halving

20 days ago

The Bitcoin halving event has been scheduled to take place in the next 15 days. Based on historical data, it could trigger a bull run that would last months, setting new price peaks.
Crypto data analytics platform Kaiko believes BTC could record a new top within nine to twelve months after the event on April 20.
Bitcoin’s Rally Post-Halving
Kaiko explained that the short-term price impact of Bitcoin halving events has been mixed in the past, but historical data has clarified that the value of BTC tends to increase within a year post halving, one of the major reasons it has been deemed a bullish event.
The upcoming halving will reduce the rewards earned by miners for validating transactions by half. The previous halving slashed the rewards to 6.25 BTC; the next one will

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Robert Kiyosaki to Purchase More BTC If This Devastating Bitcoin Prediction Comes True

21 days ago

Robert Kiyosaki, known for his advocacy of Bitcoin (BTC), gold, and silver, has revealed that he would acquire more BTC if the crypto asset’s value ever drops to $200, as American financial writer Harry Dent predicted.
In a Tuesday tweet, Kiyosaki, the author of several financial books, including Rich Dad Poor Dad, said he hopes Dent’s prediction comes true, as such an occurrence would produce new multi-millionaires and possibly a few billionaires.
Bitcoin to $200?
Dent is known as the harbinger of financial and economic recession. Although most of his forecasts have been unsuccessful, he correctly predicted the 2000 dotcom crash and Japan’s 1989 bubble burst and recession. He told Think Advisor in October 2023 that the United States economy would experience “the crash of

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Bitcoin Faces Sell-Side Liquidity Crisis as Demand Reaches Unprecedented Levels: CryptoQuant

25 days ago

The chances of Bitcoin facing a sell-side liquidity crisis in the next few months are very high due to demand for the digital asset soaring to unprecedented levels.
According to a weekly report from CryptoQuant, analysts expect the present Bitcoin sell-side liquidity inventory to cover demand for six to twelve months. Conversely, a plunge in liquid inventory could pull Bitcoin’s (BTC) price northward.
Unprecedented Demand Levels
Monthly demand for Bitcoin has risen from 40,000 BTC at the start of 2024 to 213,000 BTC at writing time. CryptoQuant measures the demand by the 30-day growth in the total balance of accumulation addresses – those that only receive and hold BTC. For context, these addresses hold over 10 BTC, have no outflows, do not belong to any centralized

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Ethereum Founder Thinks Meme Coins Can Be More Than Fun, Simple Tokens

26 days ago

Vitalik Buterin, the co-founder of the Ethereum network, believes meme coins can become higher quality projects that contribute positively to the crypto ecosystem and the world around them, squashing the narrative that such tokens are useless, racist, and sexist.
According to a new report titled “What Else Could Meme Coins Be?,” Buterin looks forward to seeing meme coin projects that support public goods instead of enriching insiders and creators. He urged creators to make games instead of just tokens.
Meme Coins Can Be More
The Ethereum founder cited a report he wrote ten years ago and published on Bitcoin Magazine, which addressed the role cryptocurrencies could play in funding important public projects like cancer research and saving the environment. He explained at the

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Here’s Why Bitcoin ETF Flows Will Continue for Years, According to Bitwise CIO

27 days ago

Matt Hougan, the CIO of the crypto index fund and asset management firm Bitwise, believes inflows into spot Bitcoin exchange-traded funds (ETFs) will continue for years as more investors and institutions adopt the products.
In a tweet detailing his experiences during a 20-day road trip, Hougan said he met financial advisors who have already allocated 3% of their client’s portfolios to Bitcoin ETFs and those who have not nursed the thoughts at all, showing a gap in the adoption pace of the products.
Bitcoin ETF Inflows Are Long-Term
Hougan also engaged with national account platforms approving Bitcoin ETF investments later this month and others looking to do so in mid-2025. He said his discoveries indicated that the inflows the ETF market has experienced in the past two

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Tether Doubles Down on AI Plans, Looks to Hire Relevant Employees

29 days ago

Tether, the company behind USDT, the largest stablecoin by market capitalization, has announced plans to double down on its artificial intelligence (AI) focus and recruit relevant talent to that effect.
According to an official release, the stablecoin provider said the move highlights its dedication to advancing AI efficiency and accessibility in the technology sector.
Tether Strengthens AI Focus
Tether’s latest move will see the firm focus on key areas like the development of open-source, multimodal AI products to set new industry standards. The crypto firm will also collaborate with other entities to integrate AI solutions into market-driven products to solve real-world issues.
In addition, Tether will participate in AI community contributions geared toward advancing the

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Nigeria Slams Binance With Tax Evasion Charges as Detained Exec Escapes: Report

March 25, 2024

The Nigerian government has slammed the world’s largest cryptocurrency exchange, Binance, with four counts of tax evasion charges as the saga between the entities deepens.
According to a report from local media Premium Times, the Federal Inland Revenue Service (FIRS) filed the charges at a Federal High Court in the nation’s capital, Abuja, on March 22, the same day Nadeem Anjarwalla, one of the Binance executives detained since February, escaped from the custody of the Economic and Financial Crimes Commission (EFCC).
Binance Faces Tax Evasion Charges
The FIRS mentioned Anjarwalla and Tigran Gambaryan as the second and third defendants in the lawsuit against Binance. Gambaryan is the other executive still in custody following Anjarwalla’s escape. The lawsuit accused the

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Bitcoin’s 15% Correction Propelled by Profit-Taking but Bull Cycle Is Far From Over: CryptoQuant

March 24, 2024

Bitcoin (BTC) had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits.
However, analysts at CryptoQuant believe the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy from levels seen in past market tops.
BTC in Correction Mode
The Bull-Bear Market Cycle Indicator flagged an overheated-bull phase last week as BTC plummeted from $73,700 to $60,700. The decline was triggered by traders offloading their stash to realize high-profit margins.
CryptoQuant found that unrealized profit margins soared to 69%, its highest level since March 2021, when BTC was trading at around $60,000. Although traders

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Here’s How a Hong Kong Housewife Lost $908K to Crypto Scammers: Report

March 23, 2024

A 46-year-old housewife in Hong Kong has reported losses of 7.1 million Hong Kong dollars ($908,000) after investing in a fraudulent crypto investment platform.
According to a report by the South China Morning Post, people familiar with the matter revealed that the woman did not realize she had been scammed until a year after the incident when she discussed the investment with her family.
Hong Kong Housewife Scammed of $908K
One of the fraudsters contacted the victim through Instagram in July 2022 and urged her to invest in cryptocurrencies through a link to a fraudulent trading platform.
Together with another scammer, who impersonated a customer service representative from the purported trading platform, the suspects tricked the woman into transferring over $900,000 into

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Coinbase Wants to Launch Futures Contracts These Crypto Assets on April Fools’ Day

March 23, 2024

The derivatives arm of the largest American cryptocurrency exchange, Coinbase, intends to launch futures trading contracts for Dogecoin DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) by April 1, 2024.
According to several letters filed with the United States Commodity Futures Trading Commission (CFTC) earlier this month, Coinbase Derivatives will launch monthly cash-settled and margin futures contracts for the cryptocurrencies on or after the coming April Fools’ Day.
Futures Trading For DOGE, LTC, And BCH
Per Coinbase’s letters, the firm will list the futures contracts using the self-certification approach under CFTC Regulation 40.2(a). This route allows entities to launch new products without direct CFTC approval; however, they must ensure the offerings adhere to the

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Avalanche Foundation Launches Phase 1 of Meme Coin Rush

March 21, 2024

Avalanche Foundation, the non-profit organization behind the Avalanche ecosystem, has launched the first phase of a $1 million liquidity mining incentive program dubbed Meme Coin Rush.
According to an announcement seen by CryptoPotato, the first phase has been kicked off with participation from liquidity management and decentralized market-making platform SteakHut and decentralized exchange Trader Joe.
Avalanche Begins Memecoin Rush
Meme Coin Rush was created to help scale liquidity and drive momentum for the community coin ecosystem on Avalanche. Community coins refer to meme coins, non-fungible tokens (NFTs), and similar cryptocurrencies designed by community members for cultural expression and interaction.
The program is a continuation of Avalanche Rush, an ongoing

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Kyle Davies Says He Is Unapologetic About the Collapse of Three Arrows Capital (3AC)

March 20, 2024

Kyle Davies, the co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), says he is not sorry that his company collapsed in 2022 and lost billions of investors’ funds in the process.
Davies expressed his lack of remorse during an interview with Laura Shin on a March 19 episode of the Unchained Podcast, stating that he intends to avoid jail time in any way possible.
Kyle Davies is Not Sorry
Recall that Three Arrows collapsed in mid-2022 amid the crypto market downturn due to heavy losses incurred from its positions. After a British Virgin Islands court ordered the liquidation of the assets, 3AC’s liquidator, Teneo, revealed the firm owed its creditors about $3.3 billion.
Since then, Davies and his partner, Zhu Su, have been in hiding. They launched

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Fidelity Wants to Stake a Portion of Its Proposed Spot Ethereum ETF

March 19, 2024

Asset management firm Fidelity wants traders of its proposed spot Ethereum exchange-traded fund (ETF) to be able to stake their assets upon the product’s approval.
The financial giant included the request in an amendment of its November 17 application to launch a spot Ethereum ETF in the United States.
Fidelity Includes Staking in ETF Proposal
Per a 19b-4 amendment filed with the United States Securities and Exchange Commission (SEC) on March 18, Fidelity intends to stake a portion of its spot Ethereum ETF’s assets to receive rewards and generate additional income for users.
“According to the Registration Statement, the Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the

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