ALSO: Ether Spot ETFs to Attract $15B of Net Inflows
The biggest crypto news and ideas of the day |
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Animoca Brands, a prominent Web3 investor, is looking to go public in 2025, the Information reported on Wednesday. The Web3 giant is considering Hong Kong or the Middle East for a potential listing, the report said, citing Animoca co-founder Yat Siu. Siu added that the firm has held talks with investment banks but has not hired an adviser yet. The firm, known for investing in non-fungible tokens (NFTs) and crypto gaming companies, has yet to finalize the location for a possible initial public offering (IPO). |
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Cardano Unfazed by Attack |
The Cardano blockchain was hit by a distributed denial of service (DDoS) attack late Tuesday. However, the attack was unsuccessful and mitigated before any damage was caused, and the network continued to operate as usual. DDoS is a common attack vector in which the attacker floods a server (or a blockchain) with spam traffic to prevent users from accessing connected online services and sites.
Fluid Token chief technology officer @ElRaulito_cnft said on X that the attack began on block 10,487,530, each transaction executing 194 smart contracts. The attacker spent 0.9 ADA per transaction and filled each block with several transactions – attempting to stress the network.
Philip Disarro, founder of Cardano development firm Anastasia, said the DDoS could be stopped immediately by deregistering the stake credential used by the attacker. The attack was stopped shortly after Disarro’s post.
“DDOSer halted his attack after reading my tweet in an effort to protect his funds. Alas, they were too late and the pillaging of their funds is already in progress,” he said. |
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$15B for ETH ETFs in 18 Months |
Ether (ETH) spot exchange-traded funds (ETFs), which are expected to be approved for trading in the U.S. in coming months, are likely to attract $15 billion of net inflows in their first 18 months, Bitwise chief investment officer Matt Hougan wrote in a report on Monday.
One way to estimate potential inflows is to consider the relative market caps of bitcoin (BTC) and ether, the report said. Bitcoin is currently 74% of the combined market value, the report noted. Investors will probably allocate to bitcoin and ether ETFs in the same proportions.
U.S. investors have invested $56 billion in spot bitcoin ETFs since their introduction in January, a number that is expected to grow to $100 billion or more by the end of 2025 as large wirehouses approve the products for trading on their platforms, the asset manager said. |
EU Crypto Firms Unsure of MiCA |
Several crypto asset service providers (CASPS) in the European Union (EU) may not know the correct deadline to make sustainability disclosures reflecting their environmental footprint despite a clarification made by the bloc's securities regulator, the European Securities and Markets Authority (ESMA).
In general “we have the feeling that more than 80% of crypto asset service providers are not yet aware they need to report ESG-data (environmental, social and governance-related data) from January 1st, 2025," said Tim Zölitz, chief risk officer at Crypto Risk Metrics.
On Wednesday, Zölitz's Crypto Risk Metrics inked a Memorandum of Understanding (MoU) to collaborate on displaying ESG-related data with The Digital Token Identifier (DTI) Foundation, the EU's proposed crypto-asset identifier for transparency reporting.
The EU's crypto asset regulation, known as Markets in Crypto Assets regulation (MiCA), became a law in 2023. MiCA set up licensing requirements for crypto issuers and service providers including exchange platforms. Stablecoin rules came into effect in June. |
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The Takeaway: Bitcoin and Assange |
In a recent X thread, Bitcoin advocate Daniel Sempere Pico argues that Julian Assange, the founder of Wikileaks who this week reached a deal with U.S. authorities to return to his native Australia, belongs in the same tradition as the cypherpunks who gave rise to Bitcoin. Read the complete thread here. |
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