Just like spot Bitcoin ETFs, the crypto community is optimistic that spot Ethereum ETFs could be the next big thing for the altcoin. While anticipation builds ahead of the next SEC meeting, Bloomberg analysts have said that the applications will likely be rejected.
In other news, Tether has frozen over $5.2 million worth of USDT in 12 addresses linked to money laundering. Meanwhile, Rollblock (RBLK) has been building momentum, selling out its first crypto ICO stage in just days.
Bloomberg Analysts Say SEC Likely to Reject Spot Ethereum (ETH) ETFs
The highly-anticipated approval of spot Ethereum (ETH) ETFs in the U.S. could take longer than expected, according to Bloomberg analysts Eric Balchunas and James Seyffart. Both analysts believe that the SEC’s recent actions suggest that the regulator will reject applications for spot Ethereum ETFs.
Their view on the matter stands on the SEC’s instance that the ETH altcoin, unlike BTC, could be regarded as securities. SEC’s decision on the approval/rejection of the spot ETFs will be announced on July 5. If the SEC decides that Ethereum should be classified as a security, then it could face stricter regulations.
Tether Freezes $5.2 Million in USDT Linked To Money Laundering
With the growing regulatory attention on the cryptocurrency market, Tether (USDT) has been one of the most compliant projects. A crypto-tracking platform, MistTrack, reported that the stablecoin issuer had frozen 12 addresses suspected of phishing. These addresses contained over $5.2 million.
23pds, the CSO of SlowMist, confirmed the freeze, stating that “Tether froze the phishing gang’s money laundering address.” In 2023, Tether froze over $225 million linked to a Southeast Asian trafficking syndicate.
High Investor Interest Sees Rollblock (RBLK) Sell-Out Presale Stage 1 in Days
Over the last few days the crypto, Rollblock (RBLK) has been one of the hottest new DeFi projects. In just days after unveiling a unique GambleFi protocol, over 27.5 Million RBLK tokens have been snapped up by investors, pushing Rollblock into the second stage of its crypto ICO.
The GambleFi protocol of Rollblock stands out for featuring a fully decentralized yet licensed Casino Arena that ensures strict compliance and customer security. Rollblock offers over 150 high payout casino games. However, unlike traditional casinos, Rollblock operates on a trustless protocol that ensures every game and draw is fair and transparent.
Rollblock also introduces an exciting revenue share model designed to reward RBLK token holders using up to 30% of the platform’s revenue on a weekly basis. Half of this sum will be used to buy back and burn RBKL, making it one of the best cryptos to buy now. The second half will be allocated to staking rewards, creating an opportunity for RBLK holders to earn additional passive income. Some analysts believe this could result in millions of dollars worth of buying pressure on the RBLK chart each week. The Casino is already live and currently generating revenue even though the presale has just started.
Due to the excitement building around Rollblock, analysts are optimistic that RBLK, currently priced at $0.012, could be the next big thing in the crypto market. The predictions that RBLK could soar 500x, to a high of $5 before the end of the year, make it one of the top new DeFi projects to keep an eye on.
In Conclusion
The potential rejection of spot Ethereum ETFs by the SEC could potentially impact the price of ETH, causing a decline. Tether’s latest action shows the willingness of crypto projects to work with regulators, while the massive interest in the presale of Rollblock and the possibilities locked in its platform shows RBLK has become one of the best cryptos to buy now for massive profit in 2024.
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