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  • 🌙 Robinhood Crypto Has Received a Wells Notice

🌙 Robinhood Crypto Has Received a Wells Notice

Robinhood’s chief legal officer said the notice came after “years of good faith attempts” to work with the SEC.

Author

Mike Gavela
May 06, 2024

Crypto Roundup - May 3

In recent developments in the cryptocurrency sector, Robinhood has received a Wells notice from the SEC concerning its crypto services, which could imply potential violations. Meanwhile, the Bitcoin network has achieved a significant milestone by surpassing one billion on-chain transactions, indicating robust network activity. In the financial landscape of cryptocurrency, companies have raised approximately $2.5 billion in venture capital during the first quarter of this year, reflecting a 29% increase from the previous quarter, despite the challenging high-interest rate environment affecting investment flows.

Top Stories:

  • Robinhood receives SEC Wells notice: Regulatory scrutiny intensifies over its cryptocurrency offerings.

  • Bitcoin surpasses 1 billion transactions: This milestone underscores the growing usage and resilience of the Bitcoin network.

  • Crypto venture capital rises modestly: A 29% increase in funding in Q1 2024, despite challenges from high-interest rates and regulatory hurdles.

TOP STORIES

Robinhood discloses Wells notice over its crypto business

Robinhood’s chief legal officer said the notice came after “years of good faith attempts” to work with the SEC.

blockworks.co/news/robinhood-wells-notice-sec

Bitcoin Network Surpasses One Billion On-Chain Transactions - The Defiant

The Bitcoin network's lifetime transaction count has surpassed 1 billion following a recent uptick in activity.

thedefiant.io/news/blockchains/bitcoin-network-surpasses-one-billion-on-chain-transactions

Crypto companies raise $2.5bn in first quarter — a ‘lacklustre’ 29% increase

Report compares amount raised by crypto companies in first quarter with previous bull markets.

www.dlnews.com/articles/snapshot/crypto-companies-increase-fund-raises-in-first-quarter

FUNDRAISES

OTHER HEADLINES

What Hong Kong crypto ETFs may tell us about US ETH fund appetite

Access to staking rewards is expected to be key for wider adoption of ether ETFs in the future, analysts say.

blockworks.co/news/hong-kong-crypto-etfs-usa-eth

This is why JP Morgan’s Onyx CEO says public ledgers aren’t fit for large transactions

The Onyx chief looks to global, regulated cross-border infrastructures for tokenised assets as a solution.

www.dlnews.com/articles/regulation/jp-morgan-onyx-ceo-says-public-ledgers-unfit-for-big-transactions

SEC punts Galaxy spot Ethereum ETF decision to July

In line with analyst expectations, the SEC pushed its decision on Invesco Galaxy’s spot Ether ETF application until July 5.

cointelegraph.com/news/galaxy-ethereum-etf-sec-decision-moved-to-july

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