SoSo Daily Apr 24 | The U.S. SEC delays the approval of Polkadot and Hedera crypto ETFs, extending the decision deadline to June.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 18:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Initia. As of 18:00 today, its market cap is 102.83M, with a coin price of 0.69130 USD, witnessing a 24-hour increase of 246%.
The second is MetaCene. As of 18:00 today, its coin price is 0.011090 USD, with a 24-hour increase of 149%.
The third is AirSwap. As of 18:00 today, its coin price is 0.073400 USD, showing a 24-hour increase of 80.8%.
In fourth place is Alpaca Finance. As of 18:00 today, its coin price is 0.057100 USD, with a 24-hour rise of 37.3%.
In fifth place is Ardor. As of 18:00 today, its coin price is 0.10806 USD, increasing by 33.6% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 5 are up and 11 are down. Notably, Layer2 and $ETH sectors are worth mentioning.
Layer2 sector has risen 2.1% relative to the UTC 0 time, led by gains in MERL (18.8%), zkf (18.2%), and POL (10%).
$ETH sector has decreased 2.4% relative to UTC 0, with $eth (-2.4%) leading the drop.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The U.S. Securities and Exchange Commission (SEC) has postponed its decision on cryptocurrency fund exchange-traded fund (ETF) proposals based on Polkadot and Hedera. The SEC has extended the review deadline for Grayscale's Polkadot Trust conversion proposal and Canary's HBAR ETF listing proposal to June 11, which was originally scheduled to be decided by the end of this week. At the same time, decisions on Bitwise's Bitcoin and Ethereum ETFs have also been delayed to June 10. The SEC stated that the extension is to allow sufficient time to consider the proposals and related issues. Since early 2024, the SEC has shown a more open attitude towards the crypto industry, approving the listing of spot Bitcoin and Ethereum ETFs, and plans to hold a roundtable discussion on crypto custody in the near future.
Next news:Basketball legend Shaquille O'Neal has reached a settlement agreement with FTX customers, after previously filming advertisements for the now-bankrupt cryptocurrency exchange FTX. According to documents filed on Wednesday in the U.S. District Court for the Southern District of Florida, the parties have reached a "friendly proposed resolution," with settlement terms to remain confidential until a preliminary approval motion is submitted. The class-action lawsuit was filed by Edwin Garrison from Oklahoma at the end of 2022, accusing FTX promoters of failing to perform due diligence and not disclosing their compensation. During the litigation process, O'Neal was repeatedly not formally served with the lawsuit documents, eventually being served at the Kaseya Center in Miami. Other celebrities such as Tom Brady, Gisele Bündchen, and Larry David are also facing similar lawsuits. FTX filed for bankruptcy at the end of 2022, and its CEO Sam Bankman-Fried was convicted on seven criminal charges in November 2023. O'Neal stated that he was merely an advertising spokesperson.
Next news:RockawayX, a crypto venture capital firm managing over $2 billion in assets, has closed its second fund at $125 million, primarily investing in early-stage Solana ecosystem projects. The fund will allocate 50% to 75% of its capital, approximately $62 million to $94 million, to Solana-based startups, focusing also on DeFi, infrastructure protocols, and decentralized networks. RockawayX has a hands-on, engineering-first approach, running validators and building hardware tools. The firm’s first fund raised $120 million and achieved strong returns, backing Solana Labs and other projects. The second fund exceeded its $120 million target, with 30% already invested in companies like DoubleZero and Exponent. Limited partners include Rockaway Capital and Solana Labs co-founders. RockawayX employs over 45 people and is hiring for roles related to Solana and infrastructure.
Next news:Theo is a cryptocurrency trading platform for institutions that has completed two rounds of financing totaling 20 million USD. The latest round was led by venture capital firms Hack VC and Anthos Capital, with participation from multiple institutions including Manifold Trading, Mirana Ventures, Metalayer Ventures, as well as angel investors from the traditional financial sector. Theo is committed to building trading infrastructure for institutions, ensuring the security of user assets and supporting rule-based access for market makers and trading institutions. The funds raised will be used to strengthen validator structures, promote integration with both crypto and traditional financial platforms, expand the user base, and enhance compliance and institutional onboarding capabilities. The company's board of directors remains unchanged but is actively discussing expanding the board with investors and strategic partners to enhance expertise in global markets. Theo currently supports four blockchains, with a total locked value close to 29 million USD.
Next news:The TON Foundation has announced the appointment of MoonPay co-founder Maximilian Crown as the new CEO, amid a slowdown in the daily fees and transaction volume of the TON ecosystem. Last year, Telegram-based mini-programs and games such as "Notcoin" and "Hamster Kombat" once drove a peak in TON blockchain activity. Earlier this year, Manuel Stotz was appointed as the foundation's chairman. Crown gained extensive experience during his tenure as CFO and COO at MoonPay, helping the company become one of the world's leading crypto payment platforms. The TON blockchain now has over 40 million active users, with Toncoin holders reaching 121 million. Former chairman Steve Yun launched a $100 million fund, TVM Ventures, focused on TON startups in February this year, and it is expected that TON will secure a significant share of the stablecoin market in the coming years. Last month, the TON Foundation announced that venture capitalists including Sequoia Capital, Ribbit, Benchmark, and Kingsway invested over $400 million in the Toncoin cryptocurrency.
Next news:

Foresight News reports that UK fintech company Revolut set a profit record of $1.40 billion in 2024, a year-on-year increase of 149%. Additionally, Revolut's total revenue in 2024 is expected to grow by 72%, reaching $4 billion, surpassing $2.20 billion in 2023.

This growth is attributed to the strong performance across its business units, especially the wealth division. Revenue from this division, which includes the company's cryptocurrency, commodities, trading, and savings products, rose by 298% year-on-year to $647 million.

The company stated that part of this growth is due to the launch of its standalone cryptocurrency trading platform, Revolut X, in May. This platform later expanded to 30 European markets and obtained a banking license from UK regulators in July.

Next news:

Odaily Planet Daily reports that U.S. federal prosecutors have submitted over 200 victim statements to the Manhattan Federal Court, accusing Celsius Network founder and former CEO Alex Mashinsky. These statements detail the economic losses and life impacts caused to users by Celsius's collapse.

Mashinsky pleaded guilty in December 2023, admitting to one count of commodity fraud and one count of securities fraud, with a maximum sentence of 30 years in prison. Most victims are requesting the court to impose the maximum sentence, while a few are appealing for leniency.

Mashinsky's sentencing will be announced on May 8, and his defense team has requested a prison term not exceeding 366 days. (Cointelegraph)

Next news:CME Group plans to launch XRP futures within a month, pending regulatory approval by the Commodity Futures Trading Commission (CFTC). This would be the fourth cryptocurrency futures product on CME, joining $BTC, $ETH, and SOL. The contracts will include a micro-sized (2,500 XRP) and a larger-sized (50,000 XRP) option, both cash-settled using the CME CF XRP-Dollar Reference Rate. XRP, with a market cap over $127 billion, is the fourth-largest cryptocurrency and is closely associated with Ripple, a company active in lobbying and partnerships with major institutions. The SEC recently settled its legal case against Ripple, potentially accelerating XRP adoption. Industry figures like Teucrium's CEO and Robinhood's VP have expressed support for the new futures. XRP is currently trading at $2.19, down slightly in the past 24 hours.
Next news:The U.S. Southern District of New York prosecutor has requested a prison sentence of 78 to 97 months for Avraham "Avi" Eisenberg, the exploiter of the Mango Markets vulnerability. Eisenberg was convicted in 2022 for committing $110 million worth of fraud by manipulating the DeFi platform Mango Markets. Additionally, he is charged with possession and viewing of illegal materials involving minors. Prosecutors pointed out that Eisenberg conducted false transactions through multiple controlled accounts, artificially inflating the value of the MNGO token, borrowing a large amount of cryptocurrency, and then selling it off, which temporarily rendered the platform insolvent. Although Eisenberg claimed his actions were part of a legitimate group trading strategy, prosecutors emphasized that he knowingly broke the law and attempted to evade responsibility. Afterwards, Eisenberg returned $67 million, but the community allowed him to retain $47 million. Mango Labs has requested the court to recover this portion of funds to compensate the victims. The sentencing was originally scheduled for December 2024 but has now been postponed to May 1st.
Next news:

According to SoSoValue data, Bitcoin spot ETF saw a total net inflow of 916.91M USD yesterday (Eastern Time, April 23th).

The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of 643.16M USD, and the total historical net inflow of IBIT currently stands at 40.63B USD.

The second highest was Ark Invest and 21Shares's ETF ARKB, with a daily net inflow of 129.50M USD, and the total historical net inflow of ARKB currently stands at 3.00B USD.

The Bitcoin Spot ETF with the highest net outflow yesterday was Bitwise's ETF BITB, with a daily net outflow of 15.25M USD, and the total historical net inflow of BITB currently stands at 2.08B USD.

As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 106.39B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 5.72%. The historical cumulative net inflow has reached 37.61B USD.

Source: https://sosovalue.com/zh/assets/etf/us-btc-spot

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