🏠 GateIo is ceasing its operations in Hong Kong

GateIo has withdrawn its application for a license in Hong Kong and is discontinuing its operations in the region.

The company has urged users to withdraw their assets by August 28th.

On May 28th, all tokens listed on the platform will also be delisted.

The exchange stated that it will work towards resuming its business in Hong Kong.

CryptoIn

📈 Morning Market Overview

Today is an important day, once again determining the fate of the ETH-ETF.

BTC $69526
ETH $3792

Fear Index 76
Altseason Index 37
Long/Short Ratio 49/51
Bitcoin Dominance 54.31%

📈 Top gainer TAO +9.79%
📉 Top loser CORE -5.65%

On such volatile days, one should be cautious with margin trading. After the approval of BTC-ETF, the market experienced a slight correction, followed by growth. We may see a similar scenario in the case of ETH-ETF approval.

CryptoIn

🐸 I'm not ready to give up meme coins

Many believe that the market is already oversaturated with meme coins.

But we are still lacking mass adoption, retail, and those very zoomers who no longer trust governments and need one thing: to have fun with assets that are ready to give them that.

Do you think they will take their money into another complex-to-understand Layer 1/2 solution, or cross-chain?

Or maybe they will be interested in an asset that doesn't lie and outright declares:
"I am a meme coin, there is only me and my value and nothing more. I can be worth a lot, or I can be worth nothing."

CryptoIn

⏺On May 22, inflows into spot BTC-ETFs amounted to +$154 million (8 consecutive days of inflows)

BlackRock increased the amount of BTC on its balance sheet to 281,883 ($19.6 billion).

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🤩 New Megadrop from Binance

Binance has announced a new project on the Megadrop platform — Lista. The project itself is a protocol for liquid staking and a decentralized stablecoin.

For the campaign, the project has allocated 10% of the supply.

We are currently awaiting quests 🫡

CryptoIn

👀 Dates for Decisions on $ETH ETF

1. VanEck - May 23
2. Ark Invest/21Shares - May 24
3. Hashdex - May 30
4. Franklin Templeton - June 11
5. Grayscale - June 18
6. Invesco/Galaxy Digital - July 7
7. BlackRock - August 7
8. Fidelity - August 3
9. Bitwise - December (exact date unspecified)

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⚡️ Despite the opposition from the Biden administration and the head of the U.S. SEC Gary Gensler to the adoption of the FIT21 bill, a few hours before the vote yesterday, the U.S. House of Representatives voted to pass FIT21. Now the bill requires a vote from the Senate, after which it will be sent to the president for signature. However, considering the objections, it is more likely to be sent back for further revisions.

The White House called it "insufficiently developed in terms of investor protection" for adoption in its current form. At the same time, they expressed readiness to finalize it together with Congress.

FIT21 (or H.R. 4763) is a bipartisan bill aimed at clarifying the powers of the SEC and CFTC in regulating the crypto market.

The adoption of FIT21 could bring significant benefits to crypto assets, including improved security, support for innovation, enhanced data protection, and modernization of financial infrastructure.

CryptoIn

🔹 Let's hear the opinion of Ethereum co-founder and Consensys CEO, Joe Lubin:

The demand for ether resulting from the approval of ETFs will lead to a supply crisis.

Institutions that have already gained access to BTC through ETFs will want to diversify with a second approved ETF. There will be quite significant and natural pressure on ETH purchases, and the supply to meet demand will be less than when spot BTC ETFs were approved in January.

CryptoIn