Cryptocurrency News Today
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Here are today’s top cryptocurrency news headlines, curated by CoinChapter.com.
US Spot Bitcoin ETFs See Record Daily Net Inflows of $10.5 Million
U.S. spot Bitcoin exchange-traded funds (ETFs) saw net inflows for the 15th consecutive day on June 3. The 11 ETFs added a combined $105.12 million, bringing total inflows during the period to more than $2.28 billion.
Since the establishment of the US spot Bitcoin ETF, the cumulative net inflow has reached $13.96 billion. Fidelity's FBTC led the inflow with $77 million. In addition, Bitwise's BITB and Ark Invest's ARKB increased by $14 million and $11 million respectively.
This 15-day streak of positive inflows is the second-longest for a U.S. spot Bitcoin ETF, second only to January’s 17-day streak. However, total volume remains below the March peak.
Global cryptocurrency investment products attracted more than $2 billion in May, bringing net inflows so far this year to more than $15 billion, according to CoinShares.
Crypto News: NBA Top Shot NFTs Are Not Securities
Dapper Labs CEO Roham Gharegozlou said Dapper Labs reached a $4 million settlement in a class-action lawsuit, further confirming that NBA Top Shot non-fungible tokens (NFTs) are not securities.
The settlement documents show that Dapper agreed to make changes to ensure that its Flow blockchain is decentralized and out of its control.
Judge Victor Marrero previously ruled that NFTs could be considered securities under the Howey test. The settlement still needs to be approved by the court.
Deutsche Bank Partners with Bitpanda for Real-Time Crypto Payments
A new collaboration between Deutsche Bank and Bitpanda will benefit crypto traders in Germany. Crypto traders in Germany can now make real-time fiat deposits and withdrawals on Bitpanda.
The agreement enables Bitpanda to obtain the German IBAN through Deutsche Bank’s API solution, greatly improving transaction efficiency and security. All fiat currency transfers on Bitpanda will be settled in real time through Deutsche Bank.
As a key benefit of this partnership, Bitpanda users in Germany will receive a local IBAN for easy deposits and withdrawals.
In other crypto news: Roaring Kitty may be banned from ETrade for stock manipulation
Well-known Reddit trader Keith Gill, known as Roaring Kitty, may have been removed from ETrade for potential manipulation stemming from his recent holdings of GameStop (GME) stock. A post by Gill on Reddit revealed that he holds over $200 million in GME shares and options, causing the stock to nearly double.
This reminds me of the stock craze in 2021, when Roaring Kitty and others pushed up the share prices of GME and AMC, causing huge losses to short sellers. ETrade's parent company Morgan Stanley has been monitoring Gill's account.
Binance updates stablecoin strategy ahead of EU MiCA regulation
Binance is preparing for the EU’s Markets in Crypto-Assets (MiCA) stablecoin regulations, which will be divided into two categories based on compliance: “regulated” and “unauthorized.” The exchange will gradually convert users from unauthorized stablecoins to regulated stablecoins.
Initially, Binance will adopt a “sell-only” model for unauthorized stablecoin conversions, as few currencies currently meet MiCA requirements. The changes are intended to smoothly achieve MiCA’s goals when the regulation takes effect this month.
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