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‌Ethereum’s commodity status: insights from Consensys creator Joseph Lubin
Cryptopolitan (RSS)

During an interview with CNBC, Consensys creator Joseph Lubin recently shared his insights on Ethereum (ETH) and its classification. Lubin referred to previous statements from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to support his argument that Ethereum should be categorized as a commodity.

Notably, he pointed out SEC chairman Gary Gensler’s acknowledgment of Bitcoin as a commodity, while highlighting that Gensler has yet to accept Ether in the same manner formally.

The founder of Consensys says it's clear Ether is a commodity, not a security amid regulatory crackdown on crypto, as he unveils the first ever survey on perception over crypto and Web3.@ethereumjoseph @tanvirgill2 @willkoulouris #BTC #ETH #TRON #Web3 @Consensys pic.twitter.com/IBIsvdQRlW
— CNBC's Street Signs (@StreetSignsCNBC) June 28, 2023

Lubin drew attention to a lecture by former SEC official Bill Hinman in 2018, where he declared Ether not to be a security. He emphasized that 18 of Hinman’s colleagues collaborated on the speech, implying a consensus within the SEC at the time. Lubin indicated that while some regulators may still be deliberating on Ether’s status, he regarded their hesitancy as insignificant.

Moreover, Lubin delved into the advancements within the Bitcoin sector, emphasizing the importance of initiatives aimed at “cleaning up the CeFi rot.” Centralized finance, commonly called CeFi, has been criticized due to its deviation from the decentralized principles of cryptocurrencies. Lubin highlighted the successful innovations and launches in 2022, illustrating the positive trajectory of the Bitcoin ecosystem.

With the ongoing discussions surrounding Ethereum’s classification, Lubin’s insights shed light on the regulatory landscape and its impact on cryptocurrencies. While Gensler’s stance on Ether remains uncertain, Lubin’s reference to Hinman’s lecture suggests widespread agreement within the SEC regarding Ethereum’s non-security status. Lubin’s optimistic outlook on the future development of the Bitcoin sector indicates the positive outcomes achieved in 2022 as the industry strives to align with the decentralized ethos.

Joseph Lubin’s recent interview with CNBC addressed Ethereum’s classification as a commodity and shed light on the ongoing regulatory debates. Lubin’s remarks highlighted the significance of previous SEC statements and the need for a clear stance on Ether’s classification.

Furthermore, Lubin emphasized the positive advancements within the Bitcoin sector, showcasing the industry’s efforts to address concerns surrounding centralized finance. As the cryptocurrency landscape evolves, regulatory clarity and technological innovation remain critical focal points for industry participants and observers alike.
Dormant wallet springs back to life; moves pre-mined Ethereum stash worth $116m
Cryptopolitan (RSS)

A historic crypto transaction occurred a few hours ago when a crypto wallet transferred over 61,000 Ether (ETH), currently worth $116 million, after a long slumber of eight years. This dormant account awoke with a splash, stirring the crypto community with speculation and curiosity.

💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant pre-mine address containing 61,216 #ETH (116,396,127 USD) has just been activated after 8.0 years!https://t.co/f79T0fYa7b
— Whale Alert (@whale_alert)...

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CZ 🔶 Binance (Twitter)

On this 8th birthday of #Ethereum, a little throw back to May 2, 2015, in Tokyo🇯🇵, just before #ETH was officially born.

@VitalikButerin stayed in my apartment in Tokyo during this trip. He was already working on and talking about ETH non-stop. And I still missed (didn't buy)… https://t.co/VqHc4y5TOD
‌CZ 🔶 Binance (Twitter)

I want to share this (luckily) unsuccessful, but very clever and close scam incident from yesterday 👇. Saved $20m. Hope it may also save you one day.

The scammers are so good now they generate addresses with the same starting and ending letters, which is what most people check… https://t.co/u6udpieYBY
‌Binance CEO warns of new scam targeting crypto users
Cryptopolitan (RSS)

Changpeng “CZ” Zhao, the CEO of Binance, has brought to light a deceptive crypto scam that targeted his users. This latest ploy involves a sophisticated manipulation of wallet addresses, which has already led to significant financial loss for some. Here’s a detailed insight into this alarming trend.

Deceptive addresses and dust transactions

CZ revealed a new scam that has alarmed the crypto community. The fraudsters generate deceptive addresses that mimic the victim’s original address, both starting and ending with the same characters. Once the mirrored address is produced, scammers then send the target dust transactions, minor amounts that will reflect in the victim’s transaction history.

I want to share this (luckily) unsuccessful, but very clever and close scam incident from yesterday 👇. Saved $20m. Hope it may also save you one day.

The scammers are so good now they generate addresses with the same starting and ending letters, which is what most people check… https://t.co/DFpdX8aNay
— CZ 🔶 Binance (@cz_binance) August 2, 2023

The tactic has already claimed victims. One well-experienced crypto operator fell for this scam on August 1, mistakenly sending cryptocurrencies worth $20 million to a dust address. Also, the error was noticed immediately after the transaction, and Binance managed to freeze the Tether before it reached the scammer. Another user was less fortunate, losing $20,000 USDT to a similar scam, with the funds eventually transferred to a crypto mixer and irrecoverable.

Safety measures and recovery processes: How to guard against crypto fraud

This new scam highlights the importance of vigilance and proper security measures in the crypto community. Blockchain domains, such as the Ethereum Name Service, could avoid this scam, allowing users to identify wallets using regular words rather than confusing strings of characters. Binance users can even purchase domains through the platform for this purpose.

Security specialists further caution against copying and pasting addresses from applications to transfer funds. Strong, unique passwords and two-factor authentication are also recommended.

In case of falling victim to such a scam, CZ advises following a recovery process that includes filing a police report to freeze funds and prevent scammers’ access. Even though immediate recovery might not be possible, this step can still impede scammers from accessing the stolen funds.

An industry-wide concern

Coinbase users have also reported similar incidents, indicating that scams and phishing attacks have become more widespread. There have been claims of scammers contacting clients using the domain name of crypto exchanges to deceive them.

The issue also led to discussions about Binance’s support for Ethereum Name Service (ENS), which would solve the fake crypto address problem, providing better security.

Last month, CZ also raised an alarm on phishing and other social engineering scams targeting crypto enthusiasts. However, his warning was in response to the hack of Uniswap (UNI) founder Hayden Adams’ Twitter account. Adams’ account was taken over by malicious players who posted false tweets claiming that the decentralized exchange was compromised. They also attached a phishing link, instructing users to revoke access to their wallets. However, Uniswap’s official Twitter account quickly debunked the news and informed the community about the hack. The protocol warned that it was not organizing any airdrop, giveaway, or bounty.
‌Best crypto memes of the day – August 9th
Cryptopolitan (RSS)

uber driver is getting margin called infront of cat feeling so scared rn pic.twitter.com/3mb85ZhSk6
— CL (@CL207) August 9, 2023

LOL this is absolute gold pic.twitter.com/FB1zLqDZEK
— Psycho (@AltcoinPsycho) August 8, 2023

Has anyone checked on how they’re doing on the other app? pic.twitter.com/uAE8Anhj1r
— greg (@greg16676935420) August 8, 2023

I’m old enough to remember pic.twitter.com/ui3l2fUng3
— greg (@greg16676935420) August 8, 2023

When you try to predict the market's behavior 😂#Crypto #meme #CryptoMeme #BTC #cryptocurrency #CryptoX pic.twitter.com/lrLd0TZBYV
— Mia Brown (@MissMiaNFTs) August 9, 2023

"We really need more marketing in Q4, guys"#cryptomeme #crypto #memecoins pic.twitter.com/wYehfqmDi5
— Crypto Giggle (@CryptoGiggle) August 8, 2023

I really believe #Bitcoin will reach 100K for sure#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/5XdOd6HB19
— Sophia Ryan (@CryptoInkSophia) August 9, 2023

This will never end…📈#Crypto #cryptocurrency #CryptoTwitter #cryptomarket #CryptoX #CryptoMeme #Memes #Bitcoin #BitcoinETF #bitcoinmining #BLOCKCHAIN #NFT #NFTCommunity pic.twitter.com/En9K8cRQXe
— CryptoTraderPro (@cryptoverse2197) August 9, 2023

It looks like easy, but in reality it is very hard…😂#Crypto #cryptocurrency #CryptoTwitter #cryptomarket #CryptoX #cryptotrading #Traders #CryptoMeme #Memes #BitcoinETF #NFT #nftart pic.twitter.com/OkNJFfKeNf
— Web3 giveaway (@web3_giveaway) August 9, 2023

Wednesday is a little Friday 😅so have fun today 🤪 #cryptomeme #meme #fun #bitcoin #bitcoinmeme pic.twitter.com/OgSnDr7LDO
— EMIREX (@EMIREX_OFFICIAL) August 9, 2023

Agree or not 😂😂#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/elWOgV22zC
— Yana Pinchuk (@missYanaNFT) August 9, 2023

Doubtful about the future of #MemeCoins? Let #AiDoge be the game-changer 😉

Don’t miss out 🚀
👉https://t.co/Qa1nTqn1JZ
#Crypto #Meme #Trade #Alts pic.twitter.com/xD3B2rU2OL
— aidogecrypto (@aidogecrypto) August 9, 2023
Analysts Predict ETH/BTC Collapse as End of Altcoin Reckoning
CoinGape (RSS)

As cryptocurrency markets continue to face volatility, Benjamin Cowen, founder of IntoTheCryptoverse, suggests that the ongoing downturn in ETH/BTC trading pair could indicate the end of the “altcoin reckoning.” Cowen’s analysis comes as Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, experience a drop in prices. The collapse of #ETH / #BTC should

The post Analysts Predict ETH/BTC Collapse as End of Altcoin Reckoning appeared first on CoinGape.
‌Best crypto memes of the day – August 30th
Cryptopolitan (RSS)

Are you still #Bitcoin bearish? pic.twitter.com/e0M0kUdX9Q

— Huobi (@HuobiGlobal) August 30, 2023

GM pic.twitter.com/HLVLWbxgay

— Devchart 👨🏻‍💻 (@devchart) August 30, 2023

Bullish momentum kicking in big time, after crabbing for so long

Bart up move was no meme

Bears are literally f*cked

This is what we deserve🤝🔥

SHOW NO MERCY pic.twitter.com/70Pf45WWWG

— Phoenix (@Phoenix_Ash3s) August 29, 2023

#Bitcoin pic.twitter.com/tKvsjdNWq5

— naiive (@naiivememe) August 30, 2023

Live look at agencies providing the P2P blockchain space with regulatory clarity. pic.twitter.com/jbwdIJbkO7

— Bill Hughes : wchughes.eth 🦊 (@BillHughesDC) August 29, 2023

#Bitcoin a normal day in crypto pic.twitter.com/jnYhgoYHK3

— naiive (@naiivememe) August 30, 2023

When you buy at the end of a pump 🤣#Cryptomeme #cryptocurrency #Bitcoin #Memes #CryptoX pic.twitter.com/EKROq07nfV

— Sophia Ryan (@CryptoInkSophia) August 23, 2023

This is so accurate 🤣#Cryptomeme pic.twitter.com/kf93661ptj

— Andres ₿ Meneses (@andreswifitv) August 30, 2023

#Bitcoin to the moon #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity

pic.twitter.com/LyStCvMFGg

— Sophia Ryan (@CryptoInkSophia) August 21, 2023

Money in bank Vs money in #crypto #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity

pic.twitter.com/ttYEzkPPBD

— Eden Staford (@StafordEden) August 24, 2023

Government Vs Crypto#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/zltI8cjozm

— Crypto Memes (@MemesMoneyco) August 30, 2023

My advice is Buy Bitcoin #cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/2ztQHQHgkV

— Dollar Monkey (@dollarmonkey_) August 30, 2023

Educator is best person in your trading journey #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/kmZIFeC3SH

— Crypto Memes (@MemesMoneyco) August 24, 2023

Make one NFT and then modify them and you are rich #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/oCD33bsEdD

— Crypto Memes (@MemesMoneyco) August 30, 2023

#Btc Currently #cryptocurrency #cryptotrading #cryptomeme pic.twitter.com/3G3JupouCS

— Moon Vikings (@moonvikings) August 28, 2023

Trader be like #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/zrGHUi0k9M

— Crypto Memes (@MemesMoneyco) August 29, 2023
‌Best Twitter threads of the day – August 30th
Cryptopolitan (RSS)

Top crypto price predictions for the 2024–2025 bull run

Grayscale made the whole market green!

Analysts are calling for imminent #Bitcoin ETF approval.

This will cause over $𝟭𝟬𝗧 of new money to flow into Bitcoin and #Crypto

A thread on top crypto price predictions for the 2024–2025 bull run 🧵

(Like & Retweet) pic.twitter.com/ld7Ql5Druv

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

Before we start, I want you to bookmark this thread for the CT culture so that you can come back in the future and see how these predictions went.

In the last bull run, the total crypto market cap topped at $3T and I expect this number to go at least 3x by the next bull run.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

In this thread, I have assumed a few things.

– Bitcoin will still be no. 1 with around 35%–40% dominance at the peak, and ETH will still be the no.2

– Legacy coins and meme coins would no longer be in the top 20.

So let's start 👇

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

1️⃣ Bitcoin (#BTC)

Bitcoin halving has always started a new bull run, and this time it would be the same.

A spot ETF approval is highly likely before the halving, and this would cause institutions to rush towards Bitcoin.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

In the last bull run, BTC topped at $69k, and I expect it to go 2x–3x from there because of lengthening cycles and diminishing returns.

At its peak, Bitcoin would have a market cap of around $3.5-$4 trillion, which comes to a price of $175,000 – $200,000/ BTC.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

2️⃣ Ethereum (#ETH)

Ethereum is the leader in the altcoin space, and this will continue to happen.

Ethereum has the highest TVL, the most number of DApps are on it, and it has the most number of developers too.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

I expect its MCap to hit around $1.5T–$2T, which comes to a price of $14,000 – $18,000/ ETH.

Also, multiple ETF futures ETFs would be there, and I expect a spot ETH ETF approval could also happen at the market peak.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

3️⃣ Binance (#BNB)

BNB is the native token of the world's largest crypto exchange, and it also works as a fuel for BNB Chain, which has a TVL of over $4 billion.

It is also used for trading discounts and Launchpad participation on the Binance exchange, and it's deflationary too.

— Sjuul | AltCryptoGems (@AltCryptoGems) August 30, 2023

3️⃣ Binance (#BNB)

BNB is the native token of the world's largest crypto exchange, and it also works as a fuel for BNB Chain, which has a TVL of over $4 billion.

It is also used for trading d...

View original post
‌Best crypto memes of the day – August 30th
Cryptopolitan (RSS)

Are you still #Bitcoin bearish? pic.twitter.com/e0M0kUdX9Q

— Huobi (@HuobiGlobal) August 30, 2023

GM pic.twitter.com/HLVLWbxgay

— Devchart 👨🏻‍💻 (@devchart) August 30, 2023

Bullish momentum kicking in big time, after crabbing for so long

Bart up move was no meme

Bears are literally f*cked

This is what we deserve🤝🔥

SHOW NO MERCY pic.twitter.com/70Pf45WWWG

— Phoenix (@Phoenix_Ash3s) August 29, 2023

#Bitcoin pic.twitter.com/tKvsjdNWq5

— naiive (@naiivememe) August 30, 2023

Live look at agencies providing the P2P blockchain space with regulatory clarity. pic.twitter.com/jbwdIJbkO7

— Bill Hughes : wchughes.eth 🦊 (@BillHughesDC) August 29, 2023

#Bitcoin a normal day in crypto pic.twitter.com/jnYhgoYHK3

— naiive (@naiivememe) August 30, 2023

When you buy at the end of a pump 🤣#Cryptomeme #cryptocurrency #Bitcoin #Memes #CryptoX pic.twitter.com/EKROq07nfV

— Sophia Ryan (@CryptoInkSophia) August 23, 2023

This is so accurate 🤣#Cryptomeme pic.twitter.com/kf93661ptj

— Andres ₿ Meneses (@andreswifitv) August 30, 2023

#Bitcoin to the moon #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity

pic.twitter.com/LyStCvMFGg

— Sophia Ryan (@CryptoInkSophia) August 21, 2023

Money in bank Vs money in #crypto #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity

pic.twitter.com/ttYEzkPPBD

— Eden Staford (@StafordEden) August 24, 2023

Government Vs Crypto#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/zltI8cjozm

— Crypto Memes (@MemesMoneyco) August 30, 2023

My advice is Buy Bitcoin #cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/2ztQHQHgkV

— Dollar Monkey (@dollarmonkey_) August 30, 2023

Educator is best person in your trading journey #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/kmZIFeC3SH

— Crypto Memes (@MemesMoneyco) August 24, 2023

Make one NFT and then modify them and you are rich #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/oCD33bsEdD

— Crypto Memes (@MemesMoneyco) August 30, 2023

#Btc Currently #cryptocurrency #cryptotrading #cryptomeme pic.twitter.com/3G3JupouCS

— Moon Vikings (@moonvikings) August 28, 2023

Trader be like #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/zrGHUi0k9M

— Crypto Memes (@MemesMoneyco) August 29, 2023
‌Best crypto memes of the day – August 31st
Cryptopolitan (RSS)

Hodling #Bitcoin: pic.twitter.com/8t0SrIjhVe

— naiive (@naiivememe) August 31, 2023

#Bitcoin pic.twitter.com/C4joHXmbSc

— naiive (@naiivememe) August 31, 2023

#Bitcoin @TheKiffness pic.twitter.com/3o0eJIhP4S

— naiive (@naiivememe) August 31, 2023

When you’re holding your memecoin for too long, and price dumps. pic.twitter.com/hf1ythvDj8

— Whale (@WhaleChart) August 31, 2023

#Bitcoin pic.twitter.com/DAqWetPnBH

— naiive (@naiivememe) August 30, 2023

GM pic.twitter.com/yIHiMjVswM

— Devchart 👨🏻‍💻 (@devchart) August 31, 2023

#Bitcoin 🔥🤓📈 pic.twitter.com/GlCEP5XV8z

— Kevin Svenson (@KevinSvenson_) August 30, 2023

When every altcoin is mooning but yours pic.twitter.com/VBw4zHOYU4

— Altcoin Sherpa (@AltcoinSherpa) August 29, 2023

#Bitcoin pic.twitter.com/qjcPX5birK

— naiive (@naiivememe) August 30, 2023

Do your research then buy the DIP#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity #BTCETF #memecoins pic.twitter.com/8rwxh4mGiO

— Crypto Memes (@MemesMoneyco) August 31, 2023

Don't Stop just Buy Bitcoin#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity #BTCETF #memecoins pic.twitter.com/Gs4Md03AVh

— Veronika_Geraimovich (@Veronika_Crypto) August 31, 2023

#crypto #CryptoMeme #memecoins #Memes #bullrun pic.twitter.com/oqBGnA18Yl

— LOL Crypto Club (@LOLCryptoClub) August 31, 2023

Always deposit and never withdraw 😁👍#CryptoNews #CryptoMeme #binance #CYBER pic.twitter.com/0aSQQ2U7nJ

— CRYPTO REKT MEMES (@CryptoRektPlebs) August 31, 2023

Just Buy The DIP #Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity #BTCETF #memecoins pic.twitter.com/DvI8CRBnj4

— Crypto Memes (@MemesMoneyco) August 31, 2023

I really need this 🙄#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity #BTCETF pic.twitter.com/Vz4KKSmWsx

— Crypto Memes (@MemesMoneyco) August 31, 2023
🚨 BitMine to control 5% of total Ethereum supply by November

BitMine Immersion Technologies is on track to reach its goal of holding 5% of the total Ethereum (ETH) supply by early November. The company currently holds 6,001,302 ETH, which is approximately 4.9% of the 122.1 million circulating supply.

Data shows BitMine has been acquiring an average of 21,600 ETH every week. To hit the 5% milestone of 6.105 million ETH, the firm only needs to acquire another 103,700 ETH, which it will likely achieve in less than five weeks.

Chairman Tom Lee stated that once the target is reached, the company might sell staking rewards—the interest earned for helping secure the network—to maintain the 5% cap. BitMine reported $45.7 million in revenue from staking and validation in a single quarter ending May 31.

#Ethereum #ETH #BitMine #CryptoNews
🔴 Ether ETF Outflows Surpass $1 Billion in October

US spot Ether ETFs have recorded $1.08 billion in net outflows so far in October, marking the largest monthly withdrawal of 2026. This massive drain has completely erased the $832 million in net inflows seen during September.

The year-to-date net inflows for ETH ETFs now stand at approximately $485 million. Data from SoSoValue shows that despite a small $26 million inflow on Tuesday, the overall trend remains heavily negative with eight trading sessions still remaining in the month.

The heavy selling in ETFs aligns with a 9.7% price drop for Ether this month, falling from $2,700 to around $2,438. Throughout 2026, ETH has declined nearly 18% in value.

#Ethereum #ETF #CryptoNews #ETH