Ethereum Co-Founder Sells MakerDAO Tokens as Crypto Developments Unfold
Summary:
Ethereum co-founder Vitalik Buterin sells remaining MakerDAO tokens, Bitcoin ETF approvals predicted to cause billions of inflows, Elon Musk reveals past interest in funding Dogecoin, Congressman Tom Emmer rebuts SEC chair's claims on crypto compliance, and FTX debtors disclose transaction benefiting former executive.
Ethereum co-founder Vitalik Buterin has sold his remaining 500 MakerDAO tokens (MKR), following MakerDAO's proposal to potentially move away from Ethereum to Solana. Buterin had held the MKR tokens for over two years before selling them for 353 ETH ($580K).
On-chain analytics platform Lookonchain was the first to spot Buterin's transaction, which confirmed that his MKR portfolio now stands at $0. This sale only made up about 0.12% of Buterin's $407 million cryptocurrency holdings.
Bitcoin investor Anthony Pompliano believes that the approval of spot Bitcoin ETFs, combined with the upcoming halving event in April 2024, will result in billions of dollars of inflows into the cryptocurrency industry.
JPMorgan analysts predict that the SEC will likely have no choice but to approve multiple spot Bitcoin ETFs following Grayscale's recent legal victory.
According to Elon Musk's new biography, he had early ambitions to integrate Dogecoin into his blockchain-based "everything app" and was quietly funding the meme cryptocurrency. Musk considered using Dogecoin for in-app payments on X (formerly Twitter) and wanted to turn the platform into a payments platform where users could send money, tip others, and pay for content.
Congressman Tom Emmer has criticized SEC Chair Gary Gensler's stance on crypto, pointing out the recent defeats suffered by the regulator in court. Emmer believes that it should be clear to policymakers that the crypto industry is not "rife with noncompliance."
FTX debtors have disclosed financial statements indicating that $2.51 million was directed to the American Yacht Group in a transaction benefiting former Alameda Research co-CEO Sam Trabucco in March 2022.
Cathie Wood, CEO of ARK Invest, has stated that the convergence between Bitcoin and artificial intelligence could bring about significant cost reductions and increased productivity for companies.
Published At
9/4/2023 6:17:41 AM
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