Here is the top crypto news of the day curated by CoinChapter.com.
U.S. Spot bitcoin exchange-traded funds (ETFs) recorded $886.75 million daily net inflows on June 4. This is the second-highest influx since their inception. This substantial inflow trails only the record set on March 12, when the funds attracted $1.05 billion in a single day.
Fidelity’s FBTC led the charge with $379 million, followed by BlackRock’s IBIT with $274 million in net inflows. The total cumulative net inflows for these spot bitcoin ETFs now stand at $14.85 billion.
Other notable contributors include Ark Invest and 21Shares’ ARKB, which received $139 million. Additionally, Bitwise’s BITB saw $61 million of inflows, and Grayscale’s GBTC received $28 million. VanEck and Valkyrie’s ETFs also witnessed single-digit million net inflows.
The U.S. political change could soon gain exposure to the $20 trillion financial advisory industry, according to Matt Hougan, chief investment officer at Bitwise. This potential influx depends on regulatory clarity from U.S. authorities.
Hougan believes the U.S. is finally moving towards regulatory clarity. This could open the doors to the country’s financial advisory industry. He envisions a scenario where a significant portion of the $20 trillion under management in the financial advisory sector could flow into cryptocurrencies once the biggest barrier is lifted.
The chief investment officer cites recent developments, such as the SEC’s approval of spot Ether ETFs and the House passing (FIT21), as positive signs of regulatory progress. He also acknowledged setbacks like President Joe Biden’s veto of the SAB 121 repeal.
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GnosisDAO, a decentralized autonomous organization (DAO), has approved the spin-off of Karpatkey, its DAO treasury risk manager, into an independent entity with its own KPK governance token. Karpatkey has been a part of GnosisDAO since 2021 and has successfully executed over 7,000 DeFi transactions.
Karpatkey provides treasury and risk management solutions, on-chain financial services, and support for DAO business development initiatives. It has worked with prominent clients in the crypto space, including Aave, Uniswap, ENS, and MakerDAO.
The proposal to spin off Karpatkey into its own DAO was first made in February. GnosisDAO members approved it via an on-chain vote.
Worldcoin has suspended its activities in Spain through the end of 2024 or until the German organization overseeing the project’s activity under the European Union’s General Data Protection Regulation (GDPR) completes its audit.
The Worldcoin project aims to establish a system where people can prove their humanity by having their eyeballs scanned by a Worldcoin orb. This will create a World ID that identifies them as human. In exchange, participants will receive cryptocurrency in the form of WLD tokens.
Several government agencies have scrutinized the Worldcoin project due to concerns related to the protection of personal data. One of them was the Spanish Data Protection Agency (AEPD), which ordered Worldcoin to cease operations in Spain in March.
A group of United States politicians has reportedly asked President Joe Biden and the hostage affairs unit to bring Binance employee Tigran Gambaryan home from Nigeria.
In a letter, 12 U.S. politicians stressed that Gambaryan remains “wrongfully detained” by the Nigerian government and that immediate action is essential to ensure his safety and preserve his life.
The U.S. politicians want the Special Presidential Envoy for Hostage Affairs to handle Gambaryan’s case.
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