The Shib News Recap: Thursday

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/12/19/the-shib-news-recap-thursday-3/ on 2024-12-19. Article ID: SD18830Td252cae5. Author: Malaya Ruiz. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/12/19/the-shib-news-recap-thursday-3/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

This Thursday, The Shib Daily reported on significant developments in the crypto sector, including critical regulatory developments, ETF predictions, and leadership shifts within key institutions impacting the industry.

Retail Clients Misclassified? ASIC Takes Legal Action Against Binance

The Australian Securities and Investments Commission (ASIC) is suing Binance Australia Derivatives for allegedly failing to protect consumers. The regulator claims Binance wrongly classified 505 retail investors as wholesale clients from July 2022 to April 2023. The exchange offered derivatives like futures contracts for Bitcoin, еther, and BNB. ASIC Deputy Chair Sarah Court noted that many clients experienced substantial losses, leading to approximately $13 million in compensation payments frоm Binance in 2023.

Eric Balchunas Predicts 2025 Launch for Bitcoin and Ethereum ETFs in U.S.

Bloomberg ETF analyst Eric Balchunas predicts that Bitcoin аnd Ethereum ETFs will be the first U.S. crypto funds launching in 2025. He noted that a wave of cryptocurrencу ETFs is expected next year but not all at once. Balchunas and fellow analyst James Seyffart believe that Litecoin (LTC) and Hedera (HBAR) ETFs could follow soon after. However, ETFs for Solana (SOL) and XRP may only be considered after the new administration’s leadership at the agency.

We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending… pic.twitter.com/29vMdciZxE
— Eric Balchunas (@EricBalchunas) December 17, 2024

David Sacks for Crypto Czar Role Backed by Michaеl Saylor

Michael Saylor has shown his strong backing for David Sacks as the U.S. “Crypto Czar.” Saylor echoed the sentiments of Senator Cynthia Lummis, who lauded Sacks’ appointment. This gesture received significant backing from users on X. Lummis believes Sacks will help the administration become the most supportive of digital assets ever.

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MALAYA RUIZ

Malaya is dedicated to helping individuals share meaningful narratives about crypto, blockchain, and future tech. Her extensive experience in editing, copywriting, and publishing gives her a deep understanding of the craft of storytelling and collaboration, which she channels through Shiba Inu's official publications. Malaya owns two dogs and therefore has a special admiration for the Shiba Inu breed.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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