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The treasury of the web3 gaming platform Gala Games appears to have been hacked Monday. Someone minted 5 billion GALA tokens worth over $200 million. GALA fell nearly 15% following the exploit.
Bloomberg ETF analysts view the possibility of the U.S. government approving spot ether ETFs as improving to 75% based on the possibility of shifting political winds.
Ether price volatility is expected to increase in the lead-up to this week’s spot ETF decision deadlines, with VanEck’s on Thursday and Ark Invest/21Shares’ on Friday.
Controversial digital asset firm Prometheum has soft-launched ether custody services with a small group of companies.Prometheum plans to fully launch custody services by the first week of June.
Grayscale CEO Michael Sonnenshein is stepping down as CEO to “pursue other interests,” the firm said.Though the exact reasons for his departure remain unclear, the firm’s spot bitcoin ETF GBTC has seen swathes of investors exit despite inflows increasing.Former Goldman Sachs exec Peter Mintzberg will join as Grayscale’s CEO on Aug. 15, 2024.
- 17:06Fed Chair Powell: Keep rates at current levels, wait for evidence of further reductions in inflationFederal Reserve Chairman Jerome Powell said, we will maintain interest rates at current levels, waiting for evidence of further reductions in inflation. Long-term interest rates have risen, but this is not related to inflation, and the Fed will do all it can to ensure that stricter regulatory measures are gradually extended from large banks to small banks. If the Consumer Financial Protection Bureau (CFPB) is disbanded, there will be no federal regulator to examine large banks for consumer protection.
- 17:05Bitcoin's Average Transaction Confirmation Time in 2025 Reaches 19 Minutes, Highest EverAccording to Cointelegraph, Bitcoin confirmation times will reach an all-time high in 2025, taking an average of 19 minutes per transaction. Network congestion, block size limits, and fee dynamics are the main factors contributing to the delays. Network congestion, block size limitations, and fee dynamics all contribute to latency.