Week 21 Newsletter: ETH Boom, Blast Alpha, Gensler warns Congress and more
Week 21 Newsletter: ETH Boom, Blast Alpha, Gensler warns Congress and more
Gensler Warns Congress
Gensler & Biden Speak Out Against FIT21 Act. As FIT21 amasses support, Biden and Gensler voice their opposition. SEC Chair Gary Gensler says he strongly opposes the Financial Innovation and Technology for the 21st Century Act (FIT21), citing major concerns about investor protection and market integrity. President Biden has also signaled opposition but stopped short of threatening a veto.
What’s the Scoop?
Regulatory Concerns: Gensler opposes FIT21, arguing it undermines decades of securities regulation.
Investor Risks: He claims FIT21 would allow crypto firms to self-certify as "decentralized," putting them outside the SEC's oversight and risking investor protection.
State of Legislative Support: Major crypto groups and presumptive GOP presidential candidate Donald Trump support FIT21 as a necessary modernization of outdated securities laws. The U.S. House of Representatives plans to vote on FIT21 soon, and even House Speaker Nancy Pelosi is considering the bill.
Biden Opposition: While the White House opposes the bill over concerns about investor protections, it is not threatening a veto. This shows they are open to working with Congress on future bipartisan legislation.
MetaMask Reportedly Adding Native Bitcoin Support. The rollout could come as soon as next month. MetaMask, Ethereum’s reigning wallet giant, is exploring native Bitcoin support, CoinDesk reports – citing sources familiar with the matter.
What's the scoop?
CoinDesk's source said the Bitcoin integration could launch as early as June 2024. Another source said MetaMask was still working to finalize feature ideas.
“While we can't confirm any timeline for specific developments at this time, we're always working on innovations to serve our users better,” a MetaMask spokesperson told CoinDesk. “Stay tuned for further updates when we're ready to share more."
ETH ETF Issuers Drop Staking. ETF issuers won't be staking their ETH, according to new filings. Potential spot ETH ETF issuers are assuring the SEC that they will not engage in staking, removing provisions from updated filings in an effort to squeeze through approvals of their applications.
What's the Scoop?
No staking now: Fidelity, Franklin Templeton, Ark Invest, Invesco, and VanEck ETFs have all updated their filings to say they won't stake ETH for yield. Similar clauses have been added by Nasdaq for iShares Ethereum Trust and by NYSE Arca for Grayscale's Ethereum Mini Trust and the Bitwise Ethereum ETF.
Shift in plans for tomorrow’s decision: The removal of staking was seen as a likely capitulation, but was obviously a concession that investment firms were willing to make to clear the path for SEC approval.
Airdrop Alpha: Blast Crypto
What Makes Blast Crypto Airdrop Stand Out
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Key Advantages of Blast Crypto
Exclusivity: Tailored for early adopters, extending an invitation to be part of a groundbreaking initiative from its inception.
Scarcity: Limited availability of airdropped tokens ensures heightened value and demand.
Community-Centric Approach: Emphasizes the importance of active community involvement, rewarding participation and dedication.
Innovative Enhancements for User Engagement
Effortless Claiming Process: Intuitive interface streamlines the token claiming process for users.
Interactive Engagement Platforms: Incorporates social media integration, gamifying community participation.
Robust Security Measures: Implements state-of-the-art protocols to safeguard users' assets and data.
Qualifying for Blast Crypto Airdrop
Prepare to immerse yourself in the Blast Crypto Airdrop—an exclusive opportunity for crypto enthusiasts to acquire complimentary tokens! Familiarize yourself with the eligibility criteria to ensure seamless participation.
Steps to Meet Airdrop Requirements
Set up a digital wallet if you haven't already.
Join the official Blast community on designated social platforms.
Stay updated with project developments and announcements.
Register for the airdrop through the official Blast Crypto website.
Fulfill specified social tasks, which may involve joining Telegram groups or sharing Blast Crypto-related content on social media.
Provide your wallet address accurately to receive the airdropped tokens.
Maximizing Your Rewards
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