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Standard Chartered’s new crypto desk will be based in London.
Quick Take Consensys announced on Tuesday that the SEC’s enforcement division notified the company that it was closing its investigation into Ethereum 2.0. Sources told The Block that it’s not clear whether the SEC views ether as a security and say the agency could have decided to scuttle the investigation to avoid litigation risk.
Quick Take Pantera Capital is doubling down on its bet on the TON token shortly after making its largest investment ever in the token earlier this year. The venture capital firm is now raising money for a new fund to invest more in the TON token, according to an email seen by The Block.
- 07:35Hedge Fund Elliott: The White House is inflating the cryptocurrency bubble, which could cause serious damageHedge fund Elliott warned that the Trump administration's support for cryptocurrencies has fueled speculative frenzy, which could cause "serious damage" when prices plummet. A letter to investors shows that the company, with assets of $70 billion, targeted the U.S. government's significant enthusiasm for assets that have soared in price but have "no substantive content," as well as politicians who support cryptocurrencies. Elliott wrote that the fund had "never seen such a market"... The AI boom and high stock valuations are signs of investors "acting like a bunch of sports gamblers." Cryptocurrencies are the "starting point" of the entire market speculation frenzy, not only because its scale has expanded, but also because it is "close to the White House." The “inevitable collapse” of cryptocurrency bubble “could cause serious damage in ways we cannot predict.” It’s worth mentioning that Elliott founder Paul Singer is a long-term donor to Republicans and donated $56 million to conservative candidates in 2024 election cycle.
- 07:27The net inflow of the U.S. Bitcoin spot ETF this week totaled 559.5 million U.S. dollarsOn February 2, according to Farside monitoring data, the US Bitcoin spot ETF had a net inflow of $559.5 million this week.
- 07:22El Salvador cancels the status of Bitcoin as an official currencyThe Salvadoran Congress, controlled by the ruling party, has quietly approved a reform to the Bitcoin law that renders the use of Bitcoin as an official currency invalid, leaving it up to users to decide. This reform was carried out after nearly two years of pressure from the International Monetary Fund (IMF), which set a condition of "reducing Bitcoin's risk" in exchange for President Nayib Bukele approving a much-needed $1.4 billion loan. If the Salvadoran government wants to receive this money, it must amend its laws before the last day of January. More than three years after implementing this law, representatives have amended six clauses and abolished three out of sixteen clauses. From now on, Bitcoin will no longer be considered "currency"; its acceptance has changed from mandatory to voluntary and it will not be used for tax purposes.