Malaya Ruiz
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, Ether, and BNB. ASIC Deputy Chair Sarah Court noted that many clients experienced substantial losses, leading to approximately $13 million in compensation payments from Binance in 2023.
Eric Balchunas Predicts 2025 Launch for Bitcoin and Ethereum ETFs in U.S.
Bloomberg ETF analyst Eric Balchunas predicts that Bitcoin and Ethereum ETFs will be the first U.S. crypto funds launching in 2025. He noted that a wave of cryptocurrency 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.
David Sacks for Crypto Czar Role Backed by Michael 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.
Read more
- MicroStrategy to Pause Bitcoin Buying in January?
- Peter Schiff Slams Michael Saylor’s Bitcoin Strategy
- Shytoshi Kusama Unveils TREAT First Use Case, Signaling Expansion of Shiba Inu Ecosystem
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 Magazine and The Shib Daily are the official publications 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.
