Crypto Roundup: VanEck Files for US Solana ETF, Marathon Mines Altcoins, CleanSpark Acquires Miner, Coinbase Sues Regulators

Crypto chirps were a mix of acquisitions and legal battles today! Our canary found VanEck filing for the first-ever US Solana ETF, a potential boon for Solana investors. In the mining world, Marathon Digital is spreading its wings by testing altcoin mining, while CleanSpark gobbled up rival GRIID to expand their operations. Finally, Coinbase took flight with a lawsuit against the SEC and FDIC, demanding information crucial for understanding crypto regulations.

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Meme of the Day

Market Movements - 27 Apr 2024

Thursday witnessed declines for biggest cap coins but the situation was mixed for medium and small caps. Bitcoin edged down by -1.35% to $60,750.07, while Ethereum experienced a decline of -1.29% to $3,3396. BNB dipped by -1.04% to $571.43, Solana slipped by -3.59% to $141.71, and Toncoin saw a decrease of -1.48% to $7.56

In the top 10, we saw small gains for XRP (+0.53%) to $0.47, Dogecoin (+1.75%) to $0.1253 and Cardano (+2.36%) to $0.3942.

Movers and Shakers

In the last 24 hours, the top gainers were Akash Network (+8.03%), ENS (+5.25%), and AAVE (+4.01%). The top losers included Fetch.ai (-7.82%), SingularityNet (-6.63%) and Ethena (-6.3%).

Project Updates

1. Crypto firm Paradigm launched Reth 1.0, a new Ethereum client for faster processing and smoother operation. It syncs to the mainnet in 50 hours and boasts high transaction throughput.

   Read more here

2. South Korean crypto investment firm Hashed Ventures expands its reach by partnering with Abu Dhabi's global tech hub, Hub71.

   Read more here

3. Zeta Markets, a Solana-based derivatives exchange, launched its native token ZEX on the Solana mainnet. This marks the start of an airdrop to reward users and incentivize participation.

   Read more here

4. Worldcoin competitor Rarible launches "Rari DAO's alternative," RariMe. This aims to be a decentralized social marketplace focused on NFTs and community governance.

   Read more here

5. Synternet, a blockchain project for data privacy, launched its mainnet on the Cosmos network (ATOM).

   Read more here

Hall of Fame, Hall of Shame

Fake ROI Scam Targets Businesses

A US green card holder, Dirk De Jager, scammed over $200k from small businesses promising a 2x ROI. His companies used Crypto.com and never delivered on services, despite contracts guaranteeing refunds.

Read more here

Social Media "Guru" Sued for Crypto Losses

A New Jersey man sued a social media "crypto guru" for over $208,000 after high-risk trades resulted in major losses. The lawsuit claims the advisor was unlicensed and made false promises of 1500% returns.

Read more here

What moved in the Crypto World Today

VanEck Files for US Solana ETF

VanEck has filed for the first-ever Solana ETF in the United States. This move follows a similar filing for a Solana product in Canada just days before.

Read more here

Marathon to Mine Altcoins

Marathon Digital is expanding into altcoin mining by testing Kaspa, a privacy-focused proof-of-work blockchain. This experiment aims to diversify Marathon's revenue streams and hedge against a decline in Bitcoin's price.

Read more here

CleanSpark Buys Rival Miner

Bitcoin miner CleanSpark acquired rival GRIID in a $155M all-stock deal. This expands CleanSpark's operational capacity and brings them closer to their goal of 400 MW of power for mining.

Read more here

Coinbase Sues SEC & FDIC

Coinbase has sued the SEC and FDIC for failing to provide information requested under the Freedom of Information Act (FOIA). The crypto exchange believes this info is necessary to understand how regulators view and potentially regulate cryptocurrency trading.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. Company focused on MEV-aware infrastructure for Bitcoin, Rebar Labs raised $2.90M in a Seed funding round from 6th Man Ventures (6MV), Arca Fund, ParaFi Capital, and others

   Read more here

2. GolfN, a blockchain-based golf project, has closed a $1.30M pre-seed funding round from CitizenX, Fourth Revolution Capital, and others

   Read more here

3. Decentralized orderbook-based exchange, Bluefin (ex Firefly, dTrade) received undisclosed funding from Flow Traders.

   Read more here

4. MMORPG metaverse, Elfin Metaverse (ex Elfin Kingdom) received undisclosed funding from Manta Network.

   Read more here

Whale Movements

1. Whale 0x906 deposited all 7.54M CRV ($2.25M) to Binance. Txn details here

2. Machi Big Brother spent 1,491.4 ETH ($4.65M) to buy 198.4M BLAST at an average price of $0.023. More details here

3. Bitcoin miner 1PDTD woke up after 14 years of dormancy and deposited 50 BTC ($3.05M) to Binance. Txn details here

Today’s Token Unlocks

Ethlas (ELS) - $8.59M

Open Campus (EDU) - $5.89M

Maverick Protocol (MAV) - $2.56M

Coinversation Street

Our Canary brings some of the trending and informative tweets from the crypto world:

@redphonecrypto thread on AI + Crypto:

@jon_charb thread on ETH Supply Chain Future:

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