• 22/07/2024 03:48

A failure in the Solana network and the launch of a stablecoin in a Polish city: what’s new in the crypto market

The main thing on the cryptocurrency market.

A failure in the Solana network and the launch of a stablecoin in a Polish city: what's new in the crypto market

SEC postponed the decision on the spot Ethereum-ETF from Invesco and Galaxy

The US Securities and Exchange Commission (SEC) has postponed its decision on an application for an Ethereum-based spot ETF from Invesco and Galaxy.

The agency has previously postponed the review date of several funds. This time, the department also reported a “violation of proceedings” regarding the collection of additional information from the public about the listing of investment products.

“Disruption of review is appropriate at this time due to the legal and policy issues raised by the proposed rule change… This does not mean that the Commission has reached any conclusions on any of the issues raised,” the SEC said in a statement.

According to the documents, comments on the Ethereum-ETF from Invesco and Galaxy must be submitted within 21 days, and the rebuttal period will last 35 days.

According to Bloomberg stock analyst James Seyffarth, the regulator’s decision was “100 % expected.”

“The only date that matters for spot ETH-ETFs right now is May 23rd. This is the deadline for VanEck’s application,” the expert said.

There was a failure in the Solana network

On February 6, the Solana team reported problems with the network.

Ecosystem engineers are investigating outages in the mainnet beta version. We will report any changes as information becomes available,” the company said.

One of the Solana Laine validators added that there was a decrease in performance on the network. The production of new blocks was stopped.

Later, validator Laine announced a restart of the cluster and a software update to v.1.17.20.

Haru Invest management was arrested for theft of $826 million

Three executives of the cryptocurrency investment platform Haru Invest were arrested in South Korea. The Block reports this.

Seoul Southern District prosecutors accused the detainees of stealing digital assets worth about 1.1 trillion Korean won ($826 million) from approximately 16,000 users.

The platform allegedly invested most of customer funds through one person. The company assured that deposits are managed through “risk-free distributed investment methods.” The company offered users of the Earn Plus product a yield of up to 12% per annum.

Law enforcement authorities began an investigation into Haru Invest and the cryptolending company Delio, which collaborated with it, after both companies suspended the withdrawal of funds in June 2023. The management of the platform referred to problems with the service partner.

Next, Haru Invest filed an application against B&S Holdings. The company alleged that the consignment partner misled with false reports, losing more than $260 million as a result of the FTX collapse.

In January, prosecutors issued an arrest warrant for the owner of B&S Holdings.

“During the course of the investigation, we will carefully determine the true nature of the alleged crime, while at the same time doing everything possible to compensate for the damage and recover the proceeds of crime,” law enforcement officials said.

A stablecoin was launched in a Polish city

< p>In the Polish city of Minsk Mazowiecki, a stablecoin called MinsCoin was launched. This is reported by Blockworks.

The statement says that the asset was created in partnership with the UrbanChange platform and is intended to pay for products.

“MinsCoin offers people a new way to interact with local businesses and public projects. The digital currency could provide insight into how similar technologies could impact social interaction, economic participation and community solidarity,” the report said.

UrbanChange co-founder Michael Mazur told Blockworks that MinsCoin will initially support 10 enterprises. He added that subsequently even more organizations will accept the currency.

“We are building an innovative blockchain hub in Minsk Mazowiecki,” said city mayor Marcin Jakubowski.


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