Crypto News: TERRA Luna and Classic Outpace Crypto Giants

Crypto values surged in the past 24 hours, gaining momentum

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Crypto News Key Highlights:

• Spain's High Court temporarily suspended Telegram due to media companies' complaints about unauthorized content sharing. Telegram, the fourth most-used messaging service in Spain, faces a ban until further investigation. This move led to a 5% drop in Toncoin's price despite positive developments, including Telegram's IPO plans and investment initiatives.

• Google integrates Ethereum Name Service (ENS) data into search results using Etherscan, simplifying complex wallet addresses with user-friendly names like yourname.eth. This follows Google's previous support for Ethereum Wallet Balances and crypto features, showcasing its increasing engagement with cryptocurrency and blockchain technology. Additionally, ENS partners with GoDaddy to streamline domain registration.

• Ripple's CEO predicts SEC may struggle to classify Ethereum as a security, akin to Ripple's XRP battle. Reports indicate SEC scrutiny on Ethereum's status. With regulatory ambiguity, industry seeks clarity. Coinbase urges waiting for SEC's decision on Ethereum ETPs, emphasizing its commodity status recognized by CFTC and courts.

• KuCoin secures a milestone as the first FIU-compliant global crypto exchange in India amid regulatory changes. CEO Johnny Lyu emphasizes user asset security and commitment to compliance. CoinDCX CEO Sumit Gupta applauds the achievement, foreseeing positive impacts on India's crypto ecosystem. Bybit faces setbacks, while OKX plans to cease operations in India.

• This week, all nine spot Bitcoin ETFs experienced net outflows every trading day, mainly due to massive outflows from Grayscale Bitcoin ETF GBTC, totaling $14 billion since January 2024. Despite Bitcoin's price decline, BlackRock's continuous inflow into Spot Bitcoin ETF suggests ongoing institutional buying activity.

• Venture capital firms are increasingly turning their attention to the digital asset sector amid a bullish trend in the crypto market. Hack VC is raising $100 million for crypto startup investments, reflecting a broader trend of VC firms seizing opportunities amidst market conditions. This surge marks renewed confidence in crypto's potential.

• The SEC postpones its decision on Grayscale Ethereum Futures Trust's ETF application to May 30, citing the need for further consideration. Analysts anticipated the delay, suggesting Grayscale's strategic approach. The Ethereum community responds to SEC security concerns. ETH price retraces 18% since March 11th peak, trading at $3,326. Whales' activity surges.

• The EU's recent anti-money laundering laws prohibit the use of unidentified self-custody crypto wallets for payments, aiming to enhance transparency and combat illicit activities. While critics cite concerns over privacy and innovation, proponents emphasize the need for improved financial oversight and security measures.

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