Banks Disclose Bitcoin ETF Holdings; Binance and DWF Labs Refute Manipulation Claims; Trump Pledges Crypto Support at NFT Gala
Summary:
Wells Fargo and JP Morgan Chase have revealed their Bitcoin ETF holdings. In other news, Binance and DWF Labs deny Wall Street Journal's market manipulation allegations. Meanwhile, former U.S. President Donald Trump hosted an NFT event where he promised a better regulatory environment for crypto and criticized the Joe Biden-linked meme coin.
Disclosures about Bitcoin exchange-traded fund (ETF) holdings from Wells Fargo and JP Morgan Chase have been made public. The Wall Street Journal’s allegations have been firmly denied by the co-founder of Binance and representatives from DWF Labs. Furthermore, a gala dinner hosted by ex-President Donald Trump for his non-fungible token (NFT) known as "Mugshot" led to a variety of striking statements.
Wells Fargo, the third-largest banking institution in the U.S, openly shared its Bitcoin ETF investment details in an official document submitted to the Securities and Exchange Commission on Friday, May 10. According to the filing, investments totalling $143,111 are held in the ProShares Bitcoin Strategy ETF, Grayscale Bitcoin Trust and Bitcoin Depot. Subsequent to this revelation, JP Morgan Chase, the country's largest bank, also declared its holdings. In an unexpected disclosure, it appears to possess about $1.2 million in ETF shares despite its CEO, Jamie Dimon, expressing his disdain for the digital currency multiple times.
Further response to claims of market manipulation made in the Wall Street Journal on May 9 have been made by Binance and DWF Labs executives. The article contained allegations of an internal investigation into DWF labs, one of Binance's major trading customers, supposed involvement in market manipulation, wash trading, and inflated trading volumes totalling roughly $300 million funds. Both Binance and DWF Labs wholeheartedly reject these accusations, confirming that no such market manipulation took place. DWF Labs regard the allegations as "baseless and a misrepresentation of facts", and reaffirm their commitment to maintaining high standards of integrity, transparency, and professional ethics while supporting and collaborating with the 700+ partners within the crypto system.
Donald Trump provided the attendants at his "Mugshot" NFT event with several unforgettable quotes during the gathering at his Florida residence. The former U.S. President pledged to create a more favourable regulatory environment for cryptocurrency businesses and entrepreneurs by addressing the current "hostility" towards crypto. He also insisted that his 'Mugshot' NFTs and other collections restored popularity to NFTs during a period when interest in the NFT market was waning. This statement was met with enthusiastic approval from the audience. However, unsurprisingly, Trump expressed his disapproval over the Jeo Boden (BODEN) meme coin, linked with President Joe Biden, which currently flaunts a market value exceeding $260 million. He voiced his dislike for the investment, remarking "That's a lot of money for a coin.
Published At
5/10/2024 11:23:07 PM
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