- Bitcoin’s critical level breakthrough has sparked activity in the crypto market. This article highlights three significant developments that have caught attention.
- Binance CEO’s shocking claim, SEC’s delay in decision on Galaxy’s Ethereum ETF proposal, and Block Inc.’s plan to raise $1.5 billion through a bond offering are the three key developments.
- Each development has potential implications for the crypto market, making them noteworthy for investors and enthusiasts alike.
Explore the latest developments in the crypto market, including Binance CEO’s shocking claim, SEC’s decision delay on Galaxy’s Ethereum ETF, and Block Inc.’s $1.5 billion bond offering plan.
Binance CEO Makes Shocking Claim
Following Bitcoin’s critical level breakthrough, Binance CEO Richard Teng made a shocking claim. He stated that Nigerian officials attempted to force Binance representatives into a secret agreement to be paid in cryptocurrency during meetings in early 2024. Teng released a detailed statement regarding the ongoing detention of Tigran Gambaryan, a former United States Internal Revenue Service agent who heads Binance’s financial crimes compliance team. Binance employees began discussions with Nigerian officials during public investigative hearings at the request of the House Financial Crimes Committee (HCFC) chairman.
SEC Delays Decision on Galaxy’s Ethereum ETF Proposal
The United States Securities and Exchange Commission (SEC) has delayed its decision on Galaxy Invesco’s spot Ether proposal. The exchange-traded fund (ETF) is given another 60 days for a call, setting the next deadline on July 5. In a filing dated May 6, the regulator stated that it is “appropriate to designate a longer period” for itself to “evaluate the proposed rule change and the issues presented here.”
Block Inc. Plans to Raise $1.5 Billion
Jack Dorsey’s Block Inc. announced plans to raise billions of dollars from institutional investors. According to an announcement made on May 6, the fintech company plans to issue $1.5 billion in first-class bonds through a private placement targeting retirement funds, banks, investment funds, and high net worth investors. Fitch Ratings, one of the three major credit rating agencies, stated that Block is “well-positioned to benefit from the ongoing growth areas in payments and consumer financial services.”
Conclusion
The crypto market continues to evolve with new developments and revelations. Binance’s shocking claim, SEC’s decision delay on Galaxy’s Ethereum ETF, and Block Inc.’s ambitious bond offering plan are the latest events that have caught the market’s attention. These developments highlight the dynamic nature of the crypto market and underscore the need for investors and enthusiasts to stay abreast of the latest news.
