The Block
Quick Take The Near Foundation is set to reduce its team by 40% despite apparent growth across the Near ecosystem in 2023. The cuts will primarily come from its marketing, business development and community teams, according to Near Foundation CEO Illia Polosukhin. He said, however, that its treasury “remains strong.”
There is a 70% likelihood for the approval of a spot Ethereum ETF, Bloomberg Intelligence analyst Eric Balchunas said.The SEC’s first verdict for the spot Ethereum ETF application has a deadline of May 23.Joe Caselin of BIT says he’s seeing a “buy the rumor, ignore the news, buy the next rumor” event.
Quick Take Ethereum co-founder Vitalik Buterin discussed increasing the block gas limit by 33%. Buterin proposed increasing the limit from 30 million to 40 million units of gas during a Reddit AMA session. The current gas limit of 30 million units has been unchanged for nearly three years.
Quick Take South Korea currently bans local financial institutions from owning and buying cryptocurrencies, as well as investing in businesses offering crypto.
Quick Take Coinbase, which is custodian to eight spot bitcoin ETFs, said the approval of the new instrument is “a watershed moment for the expansion of the cryptoeconomy.”
Quick Take Robinhood’s CEO Vlad Tenev said the firm intends to list the 11 newly approved spot bitcoin ETFs as quickly as it can.
Quick Take The past few weeks in itself have been eventful leading up to the approvals, but the intrigue doesn’t stop there as experts weigh in on what billions of dollars in flows could look like in the coming days and weeks, if a spot ether ETF is next and if this changes the regulatory landscape for crypto.
Quick Take Approval of spot bitcoin ETFs doesn’t mean SEC Chair Gary Gensler has changed his tune on crypto, according to a statement released on Wednesday.
Quick Take Crypto price platform CoinGecko saw its social media profile hacked on X. A fraudulent post announced the launch of a token and included a suspicious link to claim an airdrop.
Quick Take Spot bitcoin ETF applicants have seen their S-1 forms go effective. This means that these products are now ready to start trading, which will likely happen tomorrow.
