Today in Crypto: Cathie Wood’s ARK Says It's 'First in Line' to Get Spot-BTC ETF Approval, EVM Sidechain for XRP Ledger Available on Devnet v2, Robinhood to Lay Off 7% of Full-time Employees
TL;DR eToro, the online trading and investing platform, announced that long-time executive Robert Francis will step down from his role as CFO to become an advisor to the company. The firm has appointed Ilan Kachlon, who held senior finance roles at NICE Ltd. And Teva Pharmaceutical Industries Ltd., as its new CFO. Source: cryptonews.
Today in Crypto: Cathie Wood’s ARK Says It's 'First in Line' to Get Spot-BTC ETF Approval, EVM Sidechain for XRP Ledger Available on Devnet v2, Robinhood to Lay Off 7% of Full-time Employees
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ETF news
Cathie Wood’s ARK Investment Management said that it’s first in line to get potential approval for a spot-Bitcoin ETF, despite the industry players positing that BlackRock Inc. might be ahead in the race, Bloomberg reported. BlackRock, which filed for a spot product, might be distinguishing its application with a "unique" exchange surveillance-sharing agreement that would look to prevent market manipulation, but "other applicants will be able to amend their filings with similar agreements at little cost," said ARK Investment Management analyst Yassine Elmandjra.
said that it’s first in line to get potential approval for a spot-Bitcoin ETF, despite the industry players positing that might be ahead in the race, Bloomberg reported. BlackRock, which filed for a spot product, might be distinguishing its application with a "unique" exchange surveillance-sharing agreement that would look to prevent market manipulation, but "other applicants will be able to amend their filings with similar agreements at little cost," said ARK Investment Management analyst Yassine Elmandjra. Jeremy Allaire, co-founder and CEO of the USDC stablecoin issuer Circle, expects the Bitcoin (BTC) exchange-traded funds (ETFs) to be approved as regulators' concerns are being addressed. "I believe progress is being made with more mature market structures that would support something like that. You have mature spot markets, well-regulated custody infrastructure, and good market surveillance," he said during an interview with Bloomberg.
Blockchain news
As of June 26, the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger is available on a new version of Devnet (v2) for testing and development, RippleX announced. This EVM sidechain uses a Proof of Authority (PoA) consensus mechanism. "Developers are encouraged to test the new functionality of the Devnet v2, as well as the functionality of the bridge using all supported token types," said the announcement.
Trading news
US online trading platform Robinhood is set to lay off about 7% of its full-time employees, or about 150 people, the Wall Street Journal reported, citing an internal company message. The layoffs were made to "adjust to volumes and to better align team structures," Chief Financial Officer Jason Warnick was quoted as saying. "We're ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume, workload, org design, and more," a spokesperson said.
Investment news
Tangle Ecosystem Association (TEA), a Swiss-based association that supports builders utilizing IOTA ’s technology, announced the first fund from SwissOne Capital AG , a specialized digital asset manager focused on crypto and blockchain-related investments. Dedicated to Shimmer and IOTA ecosystem projects, the SwissOne IOTA Shimmer Opportunities Fund (SISO) will invest in the leading projects and essential infrastructure across both ecosystems, said a press release. It will be registered as a close-ended limited partnership in Luxembourg with a minimum starting investment of €10,000 (or equivalent in MIOTA/SMR).
(TEA), a Swiss-based association that supports builders utilizing ’s technology, announced the first fund from , a specialized digital asset manager focused on crypto and blockchain-related investments. Dedicated to and IOTA ecosystem projects, the (SISO) will invest in the leading projects and essential infrastructure across both ecosystems, said a press release. It will be registered as a close-ended limited partnership in Luxembourg with a minimum starting investment of €10,000 (or equivalent in MIOTA/SMR). Gaming studio Mythical Games raised $37 million as part of its Series C1, led by digital asset manager Scytale Digital , with participation from ARK Invest , Animoca Brands , PROOF , Stanford Athletics , MoonPay , Andreessen Horowitz , Gaingels , Signum Growth , Struck Capital , and WestCap . The full round is expected to close later this year with an additional $20-30 million raise, with a few additional investors and several strategic partners that are in discussion, said the press release.
raised $37 million as part of its Series C1, led by digital asset manager , with participation from , , , , , , , , , and . The full round is expected to close later this year with an additional $20-30 million raise, with a few additional investors and several strategic partners that are in discussion, said the press release. Web3 gaming studio Pixion Games raised $5.5 million in new investment as an extension of the seed round, backed by Avalanche Foundation’s Blizzard Fund, Shima Capital, Eldridge, Merit Circle, ReadyPlayerDAO, VGC, Zee Prime, Mechanism Capital, GSR, and Misfits Gaming, among others. The funds will be used to build out the flagship game Fableborne, said the press release.
Career news