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Asset management firm VanEck announced plans to close and liquidate its Ethereum futures exchange-traded fund (ETF) EFUT, according to a Sept. 6 statement. VanEck cited performance, liquidity, assets under management (AUM), and investor interest as factors behind its decision. The firm also noted the recent approval of its spot Ethereum ETP, ETHV, by the US…

This week’s Crypto Biz explores several regulatory developments targeting crypto firms, including charges against Uniswap, a delay in a decision on an eco Bitcoin ETF, and a potential challenge to FTX’s repayment plan. A recent enforcement action in the United States has intensified the scrutiny over decentralized finance (DeFi) protocols, which have largely operated within…

Paul Grewal, Coinbase’s chief legal officer, said the SEC would be compelled to produce “important discovery” in its civil case after a judge’s order. After a victory in federal court, lawyers for cryptocurrency exchange Coinbase may soon have access to United States Securities and Exchange Commission (SEC) documents related to the regulator’s application of tokens…

Spot Ethereum ETFs are stealing the show and killing demand for futures-based crypto ETFs. Asset manager VanEck is shuttering its futures-based Ether (ETH) exchange-traded fund, citing insufficient demand as spot cryptocurrency ETFs dominate inflows, according to a Sept. 6 announcement.VanEck chose to close the fund due to factors “including performance, liquidity, assets under management, and…

According to Web3 gaming firm Moxy, the deal will save the company around $3.5 million in gas fees annually. Gaming and eSports platform Moxy has partnered with blockchain firm Skale Labs to create a Web3 ecosystem featuring gasless transactions for end-users. In a blog post announcing the partnership, Skale Labs stated that Moxy will migrate its…

Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July. Synthetix has launched a new app chain — SNAXchain — aimed at bringing cross-chain liquidity and trading-fee revenues to native-token stakers and onchain trading products, Matt Losquadro, a Synthetix core contributor, told Cointelegraph on Sept. 6. The app chain will initially serve…

The Chamber of Progress, a technology industry coalition advocating for digital innovation, has urged moderators of the upcoming ABC presidential debate to include a critical question on crypto regulation. In a letter sent to moderators Linsey Davis and David Muir on Sept. 5, the organization highlighted the growing role of digital assets in the US…

The CFTC’s director warned that other DeFi ecosystems may also be fined for offering illegal trading services, while Polygon’s native token executed a key technical upgrade. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.This week…

With most state primaries for the US House and Senate completed, the Fairshake PAC and its affiliates are supporting candidates in the November election. The Fairshake political action committee (PAC) and its affiliates are pouring more money to support candidates in congressional races as the 2024 United States election approaches.According to a Sept. 5 filing…

A federal judge has rejected Coinbase’s motion to dismiss a proposed class action lawsuit by shareholders, Reuters reported Sept. 6. The lawsuit accuses the largest US crypto exchange of downplaying the likelihood of being sued by the US Securities and Exchange Commission (SEC). US District Judge Brian Martinotti ruled on Sept. 5 that shareholders adequately…