Day: March 18, 2025

Canary Capital proposes first Sui ETF in US SEC filing

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Canary Capital has filed its sixth proposed crypto exchange-traded fund (ETF) with US regulators, this time for one tracking the spot price of the crypto token Sui. In a March 17 Form S-1 filing to the Securities and Exchange Commission, the crypto investment firm requested to list the Canary SUI ETF, which didn’t include information on what exchange it would trade on or the proposed ticker symbol. The ETF would directly hold Sui (SUI), the native token of the layer-1 blockchain used for fees and staking, which is the 23rd…

‘Bitcoin bull cycle is over,’ CryptoQuant CEO warns, citing onchain metrics

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CryptoQuant’s head chief says Bitcoin’s bull market could already be over — changing his stance from earlier in the month when he said the Bitcoin bull cycle will be slow but “is still intact.” “Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action,” CryptoQuant founder and CEO Ki Young Ju said in a March 17 X post. All signals are currently bearish, says Ju Ju said that all Bitcoin (BTC) onchain metrics indicate a bear market. “With fresh liquidity drying up, new whales are selling…

LIBRA memecoin orchestrators named as defendants in US class-action suit

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The Libra token scandal is set to be reviewed by the Supreme Court of New York after a newly filed class-action lawsuit accused its creators of misleading investors and siphoning over $100 million from one-sided liquidity pools. Burwick Law filed the suit on behalf of its clients against Kelsier Ventures, KIP Protocol and Meteora on March 17 for launching the Libra (LIBRA) token in a “deceptive, manipulative and fundamentally unfair” manner. The token was then promoted by Argentine President Javier Milei on X as an economic initiative to stimulate private-sector…

Musk says he found ‘magic money computers’ printing money ‘out of thin air’

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US government cost-cutting csar Elon Musk claims to have found at least 14 “magic money computers” in the federal government with the ability to send money from nothing. Musk said the computers, which exist in several federal departments, including the Treasury, Defense and Health and Human Services departments, can essentially issue payments and send money from nothing. “You may think that the government computers all talk to each other, they’re synchronized, they add up what funds are going where, and it’s coherent and that the numbers you’re presented as a…

Solana deletes ‘cringe’ ad criticized for being ‘tone deaf’ on gender issues

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The team behind blockchain network Solana has deleted a controversial advertisement posted on its X account after immense backlash over political messaging around gender identity. The more than two-and-a-half-minute ad for the Solana Accelerate conference posted on March 17 with the caption “America is back. Time to Accelerate” depicted a man as “America” in a therapy session who said he was having thoughts “about innovation” such as crypto. The therapist responds he should do “something more productive, like coming up with a new gender” and later says the man should…

Bitcoin’s recent $12B open interest wipeout was essential, says analyst

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Bitcoin’s nearly $12 billion open interest shakeout earlier this month might be just the catalyst needed for the asset to regain its upward momentum, according to a crypto analyst. “This can be considered as a natural market reset, an essential phase for sustaining a bullish continuation,” CryptoQuant contributor DarkFost said in a March 17 markets report. “Looking at historical trends, each past deleveraging like this has provided good opportunities for the short to medium term,” the analyst said. CoinGlass data shows that on Feb. 20, Bitcoin’s (BTC) open interest (OI)…

Trump’s SEC chair pick Paul Atkins faces confirmation delay as Senate awaits key paperwork

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Key Takeaways Paul Atkins’ SEC chair confirmation is delayed due to pending financial disclosure paperwork despite an upcoming Senate committee hearing. The SEC under Mark Uyeda has dropped several investigations and lawsuits against notable crypto companies. Share this article The confirmation of Paul Atkins, Trump’s pick to chair the US Securities and Exchange Commission (SEC), has been delayed due to pending submission of required paperwork by the White House, according to Semafor’s Congress reporter Eleanor Mueller. The paperwork includes Atkins’ financial disclosure, with a particular focus on his marriage into…

Arbitrum devs launch incubator-style program ‘Onchain Labs’

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Offchain Labs, the developers of Ethereum layer-2 network Arbitrum, have announced a partnership with the Arbitrum Foundation to launch a new incubator-style program called Onchain Labs. According to a March 17 post by Offchain Labs, the new incubator is aimed at rapidly adding to Arbitrum’s existing decentralized application (DApp) offerings with a particular focus on supporting “innovative and experimental” projects.  Offchain Labs said this support will primarily come in the form of product and go-to-market advice and won’t provide engineering or other operational resources.  It also added that while it’s…

SEC could axe proposed Biden-era crypto custody rule, says acting chief

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The US Securities and Exchange Commission could change or scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers, according to the agency’s acting chair, Mark Uyeda. In prepared remarks to an investment industry conference in San Diego on March 17, Uyeda said the rule proposed in February 2023 had seen commenters express “significant concern” over its “broad scope.” “Given such concern, there may be significant challenges to proceeding with the original proposal. As such, I have asked the SEC staff to work…

Hyperliquid opened doors to ‘democratized’ crypto whale hunting: Analyst

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Crypto whale tracking on the Hyperliquid blockchain has enabled traders to target whales with prominent leveraged positions in a “democratized” attempt to liquidate them, according to the head of 10x Research. Hyperliquid, a blockchain network specializing in trading, allows traders to publicly observe what type of positions a whale is holding, and since these positions are leveraged, the market can assess the liquidation levels unless an additional margin is added, Markus Thielen said in a March 17 report. Source: 10x Research “This transparency opens the door for coordinated efforts, where…