TL;DR

• The European Central Bank is urging Revolut to enhance supervision of EU banking activities.

• Ryan Selkis, CEO of Messari, has stepped down from his position.

• Grayscale plans to list the Ethereum Trust Fund on the New York Stock Exchange Arca on July 23, pending approval.

• The U.S. SEC has formed an interagency securities committee to address the latest scams and devise response strategies.

• Five spot Ethereum ETFs are scheduled to be listed on the Cboe Exchange on July 23.

• Telegram has launched a mini app store and an in-app browser with Web3 support.

• Gemini has settled with IRA Financial Trust over a $36 million breach.

• A U.S. court has eased restrictions on BAM, a Binance subsidiary, allowing it to invest customer funds in U.S. Treasury bonds.

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Alpha of the Day

ECB to Revolut: "Supervise Harder!"

The European Central Bank (ECB) is cracking the whip on Revolut, urging the digital bank to step up its game in supervising EU banking activities. It's like telling a party host to keep an eye on their wild guests. The ECB wants Revolut to tighten its regulatory controls and ensure that everything is in line with EU standards. So, while Revolut's app makes banking feel like a breeze, behind the scenes, it looks like they're about to dive into the nitty-gritty of compliance paperwork. Fun times ahead!

Messari's Ryan Selkis Bids Adieu

Ryan Selkis, the fearless leader and CEO of Messari, has decided to step down. Picture the captain of a crypto ship deciding it's time to explore new waters. Known for his outspoken takes and deep dives into crypto research, Selkis’ departure is bound to shake things up a bit. Maybe he’s off to find Satoshi Nakamoto or perhaps to start a new adventure in the cryptoverse. Whatever his next move, the crypto world will be watching closely. Farewell, Ryan, and may the blockchain be with you!

Grayscale's Ethereum Trust Fund Eyes NYSE Arca

Grayscale has big plans to list the Ethereum Trust Fund on the New York Stock Exchange Arca on July 23, pending approval. Imagine Ethereum walking the red carpet of the financial world, ready for its close-up. This move is set to bring more legitimacy and accessibility to Ethereum investments, making it easier for traditional investors to get a piece of the crypto action. Get your popcorn ready, because the Ethereum Trust Fund is about to make its Wall Street debut.

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SEC Forms Scam-Busting Squad

In a move that sounds straight out of a superhero comic, the U.S. SEC has formed an interagency securities committee to tackle the latest scams and plot out response strategies. Think of it as the Avengers assembling, but for finance. With scams becoming more sophisticated, the SEC’s new task force is here to protect your hard-earned money from the villains of the crypto world. Grab your popcorn, folks; this financial drama is about to get interesting.

Ethereum ETFs: Coming Soon to a Cboe Exchange Near You

Mark your calendars for July 23, because five spot Ethereum ETFs are set to hit the Cboe Exchange. It's like Ethereum is going on tour, with each ETF offering investors a front-row seat to the crypto action. This is a major step for Ethereum, opening up new avenues for investment and making it easier for folks to get involved without actually holding ETH. So, dust off those trading apps and get ready to dive into the Ethereum frenzy.

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Telegram's Mini App Store: Web3 Wonderland

Telegram is making waves with its new mini app store and in-app browser that supports Web3 pages. Imagine being able to access decentralized apps while chatting with your friends about the latest memes. This move positions Telegram as a hub for the Web3 revolution, blending social interactions with the decentralized web. So next time you’re discussing crypto prices in a Telegram group, you might just be a click away from your next big Web3 adventure.

Gemini Settles Over $36 Million Breach

Gemini has reached a settlement with IRA Financial Trust over a $36 million breach, marking the end of a saga that had crypto fans on the edge of their seats. It’s like a courtroom drama but with digital assets at stake. Gemini's move to settle shows their commitment to resolving issues and maintaining trust within the crypto community. Now, they can get back to what they do best—making crypto accessible and secure for everyone.

Binance's BAM Gets the Green Light

A U.S. court has relaxed restrictions on BAM, a Binance subsidiary, allowing it to invest customer funds in U.S. Treasury bonds. It's like giving BAM a golden ticket to the financial chocolate factory. This decision is a significant step for Binance, demonstrating trust and opening new opportunities for investment. So, while BAM starts playing with the big boys in the Treasury bond market, the rest of us can sit back and watch the magic unfold.

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