Crypto News Today: Latest Updates & Developments

Stay informed with the latest crypto news, trends, and events shaping the digital asset landscape. Discover the impact on Bitcoin prices, blockchain advancements, DeFi innovations, NFT hype, Web3 revolution, and crypto regulations. Recently, two Wall Street giants revised filings for a spot Ether ETF, indicating a potential market shift. Hamster Kombat token listings on Bybit reflect the ongoing hamster craze, while Coinbase impersonation scams highlight the need for vigilance. Stay tuned for more crypto updates to navigate the ever-evolving digital asset ecosystem.

• Bitcoin & Bitcoin Cash Repayments by Mt. Gox: Law Decoded, Latest Updates
• Ex-US Solicitor General Asserts Regulators Aim to ‘Debank’ Crypto – Crypto Regulation Spotlight
• VanEck, 21Shares Amend S-1 Filings with SEC – Regulatory Update
• Bybit Lists Hamster Kombat Token for Pre-Market Trading: Explore New Opportunities
• Coinbase Scam Alert: $1.7M Stolen in One Call – Protect Yourself Now!

Bitcoin & Bitcoin Cash Repayments by Mt. Gox: Law Decoded, Latest Updates

The highly anticipated repayment process for creditors of the defunct Mt. Gox crypto exchange has officially kicked off, featuring disbursements in Bitcoin and Bitcoin Cash. Following the November 2021 rehabilitation plan approval, overwhelmingly supported by Mt. Gox’s creditors, Trustee Nobuaki Kobayashi announced that eligible claimants will now start receiving compensation, ending a lengthy wait since the exchange’s 2014 collapse. The total repayment balance stands at a staggering $9 billion, encompassing Bitcoin, Bitcoin Cash, and additional funds held by the trustee. This marks a significant milestone in the crypto community, as Mt. Gox creditors finally see a light at the end of the tunnel. Stay tuned for updates on this landmark repayment process.

Ex-US Solicitor General Asserts Regulators Aim to ‘Debank’ Crypto – Crypto Regulation Spotlight

In a major twist, Custodia Bank’s legal tussle with federal regulators has escalated, filing an appeal to the U.S. Supreme Court. Donald Verrilli, a former U.S. solicitor general, asserts that regulators are engaging in “aggressive, coordinated efforts to ‘debank’ the crypto industry.” This move by Custodia Bank comes after facing hurdles in obtaining a Master Account with the Federal Reserve, essential for providing a comprehensive financial services portfolio. With this legal action, Custodia Bank aims to safeguard its operations and the crypto industry’s legitimacy, challenging the regulators’ alleged anti-crypto stance. Stay tuned for further developments as the legal battle heats up.

VanEck, 21Shares Amend S-1 Filings with SEC – Regulatory Update

On July 8, VanEck submitted an amended registration statement, reflecting its ongoing commitment to obtaining SEC approval for its spot Ether ETF. Simultaneously, 21Shares filed a similar amendment for its Core Ethereum ETF, indicating that both companies are positioning themselves for a potential listing in the near future.

While neither filing provided a specific launch date for their respective products, the amendments represent a significant step forward in the final stage of approvals required by the securities regulator. This comes as a welcome sign for investors and market observers who have been eagerly anticipating the launch of Ether-based ETFs in the United States.

Bitwise, another prominent player in the digital asset space, also filed its own amended registration last week, further strengthening the momentum towards Ether ETF listings. This trend reflects the growing interest and demand for regulated Ether investment products in the traditional financial markets.

Earlier in May, the SEC approved spot Ether ETF 19b-4 filings from eight asset managers, signaling a positive shift in the regulator’s stance towards digital assets. In the following month, SEC Chair Gary Gensler stated that approving the S-1 filings was expected to occur “sometime over the course of this summer,” further buoying market sentiment.

Bybit Lists Hamster Kombat Token for Pre-Market Trading: Explore New Opportunities

On July 8th, Bybit officially introduced the listing of the HMSTR token on its Bybit Pre-Market Trading platform, an over-the-counter (OTC) marketplace tailored for trading new tokens prior to their official listing. This platform enables buyers and sellers to establish quotes and execute trades at predetermined prices, offering a unique opportunity for investors to gain early access to promising tokens.

The listing of HMSTR tokens on Bybit’s pre-market OTC platform commenced on July 8th at 10:00 am UTC, providing investors with the chance to secure their position in this exciting new project. Details regarding the delivery schedule will be released shortly, ensuring transparency and clarity for all participants.

Bybit emphasized that the inclusion of HMSTR tokens on its pre-market platform marks a significant step forward in its mission to provide investors with access to the latest and most promising projects. This exclusive access allows users to secure HMSTR tokens ahead of the market, locking in their purchase or sale prices early and positioning themselves for potential gains.

This innovative advancement in Bybit’s trading offerings demonstrates the company’s dedication to supporting emerging blockchain and cryptocurrency projects. By providing investors with early access to tokens like HMSTR, Bybit is fostering a vibrant and dynamic ecosystem that encourages the growth and development of new and exciting projects.

Coinbase Scam Alert: $1.7M Stolen in One Call – Protect Yourself Now!

The scam began with a series of emails that appeared to originate from Coinbase, falsely claiming that the victim’s wallet was being drained. The victim was instructed to enter their seed phrase into a website to prevent the funds from being stolen. Although the victim hesitated and only typed in “a portion” of their seed phrase, it was enough for the scammer to capture that information and use a computer to guess the rest. This shocking instance serves as a stark reminder of the importance of safeguarding one’s crypto assets.

Edge & Node co-founder Tegan Kline shared this story, revealing that her friend fell victim to this elaborate ruse. The story gained traction in the crypto community, highlighting the dangers of phishing attacks and the need for users to be vigilant when interacting with cryptocurrency platforms.

Additionally, two other X users reported encountering similar Coinbase-posing scammers who claimed that someone had attempted to log into their Coinbase accounts. In one instance, the scammer sent a phishing email disguised as a password reset, aiming to capture the user’s account password. These incidents demonstrate the widespread nature of these scams and the need for increased security measures.

Cryptocurrency security incidents have become increasingly prevalent in recent years, with losses totaling $1.19 billion in the first half of 2024 alone. Of this amount, over $900 million was stolen through phishing and seed phrase compromise attacks. These figures are staggering and indicate the gravity of the situation facing the crypto industry.

To combat these threats, it is crucial for crypto users to remain vigilant and take proactive measures to protect their assets. This includes using strong passwords, enabling security features such as two-factor authentication, and never sharing sensitive information such as seed phrases or private keys with anyone. Additionally, users should be cautious when interacting with unsolicited emails or phone calls claiming to be from cryptocurrency platforms.