ETH ETFs APPROVED, CBDCs BLOCKED, WE ARE SO BACK

State of the Market: SEC Paves the Path for Ethereum ETFs 🚀

Hot off the press from the crypto cosmos: the U.S. Securities and Exchange Commission (SEC) just gave the nod to not one, not two, but eight spot Ethereum ETFs! 🎉 

Picture this: BlackRock, Fidelity, and a lineup of heavy hitters leading the charge. It's like the Avengers assembling but for crypto investments!

But hold onto your crypto wallets, because the journey to ETF glory might not be as swift as an Ethereum transaction. We're talking weeks, maybe even months, before these ETFs hit the market. Why the delay, you ask? 

Well, those S-1 registration statements need to get their groove on first. Rumor has it that ironing out the kinks could take a minute. Insiders are whispering about a July or August debut, so get ready to pop the champagne! 🍾

But wait, there's more drama brewing in the crypto sphere! SEC Chair Gary Gensler dropped a bombshell, reiterating his stance that most cryptocurrencies should be treated like securities, not unlike your grandma's prized stock portfolio. 

This could shake things up big time in the world of digital assets. And with the verdict on spot Ether exchange-traded funds (ETFs) looming, all eyes are on Gensler. Will his words send shockwaves through the market? Stay tuned for the thrilling conclusion, folks! 📺

Nevertheless, amidst the regulatory rollercoaster, there's a glimmer of hope. The SEC's thumbs-up suggests a potential shift in attitude towards Ethereum, hinting that it might just be more of a commodity than a security. 

Cue the confetti! 🎊 This could open doors to a brave new world of legitimacy and wider adoption for Ethereum. So buckle up, fellow crypto adventurers, because the road ahead is looking more exciting than ever! 🛣️

Chart of the day

Ok, now we're diving into the wild world of institutional adoption and the battle of the assets: Bitcoin vs. Gold. 💰🪙

So, according to our pals at Incrementum, Bitcoin is giving gold a run for its money. Literally. 🏃‍♂️💰 Their latest report highlights the growing institutional love affair with Bitcoin, painting it as the new digital darling, akin to gold. But wait, is Bitcoin trading its crown of code for a shiny gold tiara? 👑🤔

Apparently so! 🤯 According to the report, Bitcoin's market cap is inching closer to 10% of gold's bling-bling, signaling a major uptick in institutional interest. Move over, gold bars – it's time for some digital domination! 💪💻

And get this: the report is shouting from the rooftops about the striking similarities between Bitcoin and gold, dubbing Bitcoin the "digital gold" of our dreams. 🌟✨ Who needs Fort Knox when you've got a decentralized ledger, am I right? 😉

Most important news of the day.

The U.S. House of Representatives just voted to block the Fed from creating a central bank digital currency (CBDC). 🚫 So much for that digital dollar dream! 😴

The FIT21 Act, a bill that aims to bring some much-needed order to the Wild West 🤠 of crypto, passed the House with flying colors! It's now off to the Senate, where we'll see if it can survive the political rodeo. 🏛️

A Bloomberg analyst says it could be YEARS before we see a Solana ETF in the U.S. ⏳ Blame it on those slow-moving regulators and those pesky market structure bills like FIT21. 🐌

Senator Cynthia Lummis is channeling her inner Donald Trump 🗣️ and calling for a "pro-crypto army" in Congress. 🪖 Is this the start of a crypto revolution in Washington? 🏛️

The Fed's latest survey shows that fewer Americans are messing with crypto these days. 🤷‍♀️ Only 18 million adults owned or used crypto in 2023, down from previous years. Is the hype fading, or is this just a temporary dip? 🤔

Bybit's CEO Ben Zhou had to put out a fire 🔥 on social media after rumors of a hack and insolvency started swirling. He assures everyone that Bybit is safe and sound. 🏦Phew!

Our Daily Pick: Taiko, the Ethereum sidekick 🦸 that's faster than a speeding bullet AND fully compatible with Ethereum 🚀

Tired of Ethereum's high fees and slow transactions? 😩 Taiko's here to save the day! 💪 This Layer 2 protocol is like a turbocharger for Ethereum, using fancy ZK-EVM tech to make everything faster and cheaper. ⚡

🤔 What's the Magic Trick? 🪄

Taiko's not just your average Layer 2. Nope, it's a Type 1 ZK-EVM rollup, meaning it's fully equivalent to Ethereum – no compromises! 🤝 This is huge because it means you can seamlessly move your dApps and assets between Taiko and Ethereum without any headaches. 🧠

But wait, there's more! 🎉 Taiko isn't just a one-trick pony. Oh no, this bad boy is all about making Ethereum dApps and smart contracts run smoother than a well-oiled machine. Say goodbye to sky-high gas fees and turtle-paced transactions – Taiko's got your back! 🐢💸

Who's Behind the Curtain? 🎭

Now, let's talk about the brains behind the operation. 👩‍💼🧠 While we might not have a superhero team name for them (yet), Taiko is led by a squad of blockchain whizzes with a knack for zero-knowledge rollups and all things decentralized. 

But who's throwing cash at this crypto crusade? 💰 Well, Taiko has caught the eye of some bigwigs in the cryptocurrency realm, from investors to venture capital firms, all eager to see Ethereum scale new heights. Taiko has already raised more than $30 million! It's like a high-stakes game of crypto poker, and Taiko's got a seat at the table! 🃏💼

Taiko's Superpowers 💪

Lightning-Fast Transactions: No more waiting around for confirmations! ⚡

Low, Low Fees: Finally, you can afford to use Ethereum again! 🤑

Ethereum Compatibility: All your favorite dApps and smart contracts work seamlessly on Taiko. 👌

Decentralized Governance: The Taiko DAO lets you have a say in how the protocol evolves. 🗳️

Proof-of-Stake (PoS): Taiko uses a PoS consensus mechanism for added security and sustainability. 🌱

The million-dollar question: when do we launch this bad boy? 🚀 

While we can't predict the future (unless someone's hiding a crystal ball), Taiko is gearing up for an airdrop that has been announced. Buckle up, because the mainnet launch is just around the corner! 🌟📆

What's the Catch? 🤷

Like any new technology, there are still some kinks to work out. The ZK-Rollup tech is complex, and there are always regulatory hurdles to clear. 🚧

But hey, Rome wasn't built in a day! 🏛️ Taiko's already launched its alpha testnet, and the mainnet launch is on the horizon. 🚀

So, if you're looking for a faster, cheaper, and more scalable Ethereum experience that's 100% compatible with your favorite dApps, keep your eyes peeled for Taiko. 👀 It might just be the next big thing in crypto. ✨

Go touch grass this weekend for the troops,

-Pep