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🌙 SEC Rejects Filings for Solana ETFs

According to a well-placed source, the SEC rejected Cboe BZX’s 19b-4 filings for two prospective spot Solana ETFs, leading to their withdrawal from the Cboe website.

Author

Mike Gavela
August 20, 2024

Crypto Roundup - August 20

The SEC continues its crackdown on crypto-related financial products, rejecting CBOE's 19b-4 filings for Solana ETFs, signaling its firm stance on the regulation of digital assets. Meanwhile, the decentralized autonomous organization (DAO) of Mango Markets is negotiating a settlement proposal with the SEC following allegations of market manipulation and other violations. Additionally, a study reveals that only a small fraction of "Pump & Fun" traders in the DeFi space have managed to profit significantly, with just 3% making over $1,000, highlighting the challenges and risks involved in these speculative activities.

Top Stories:

  • The SEC rejected CBOE's 19b-4 filings for Solana ETFs, continuing its strict oversight of crypto products.

  • Mango Markets DAO is negotiating a settlement proposal with the SEC amid allegations of market manipulation.

  • Only 3% of 'Pump & Fun' traders in the DeFi space have made over $1,000, underscoring the risks in speculative trading.

TOP STORIES

The SEC rejected Cboe’s 19b-4 filings for Solana ETFs: Source

The 19b-4 filings were withdrawn over the weekend after the SEC rejected them, a source says. VanEck’s S-1 remains in play.

www.theblock.co/post/312031/the-sec-rejected-cboes-19b-4-filings-for-solana-etfs-source

Mango Markets DAO votes on settlement proposal with SEC

Solana-based decentralized exchange Mango Markets is mulling a proposed settlement with the SEC over alleged securities violations.

www.theblock.co/post/312046/mango-markets-dao-votes-on-settlement-proposal-with-sec

Just 3% of Pump.Fun Traders Have Made Over $1000 - "The Defiant"

Users are growing increasingly frustrated with the rollercoaster price action of memecoins on the leading Solana-based launchpad platform.

thedefiant.io/news/defi/just-3-of-pump-fun-traders-have-made-over-usd1000

FUNDRAISING

VCs back AI-focused blockchain team building internet-connected smart contracts

YeagerAI, the startup behind the decentralized AI network GenLayer and non-deterministic smart contracts, closed a $7.5 million seed round.

www.theblock.co/post/312105/vcs-back-ai-focused-blockchain-team-building-internet-connected-smart-contracts

OTHER HEADLINES

Crypto Lender Ledn Gets $50 Million Bitcoin-Backed Loan - Decrypt

Digital lending platform Ledn has secured a $50 million Bitcoin-backed syndicated loan from banking group Sygnum.

decrypt.co/245516/ledn-sygnum-first-bitcoin-backed-loan

Bitcoin whales now add just 1% to their BTC holdings per month

Bitcoin isn’t seeing sufficient accumulation to spark a BTC price all-time high.

cointelegraph.com/news/bitcoin-whales-add-just-1-btc-holdings-per-month

Democrats’ 2024 Manifesto Ignores Crypto - "The Defiant"

The 90-page document makes no mention of cryptocurrency at a pivotal time in U.S. politics, despite Trump embracing the industry.

thedefiant.io/news/regulation/democrats-2024-manifesto-ignores-crypto

CRYPTO TWITTER (X)

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