Yes, welcome back everybody to altcoin daily, my name's austin in today's video. I want to share with you the latest news involving bitcoin involving elon, musk and twitter, involving higher cap crypto coins, lower cap crypto coins and, much more so like always check the timestamps down below. In the video description hit the like button and let's jump in starting with bitcoin grayscale renews push with the sec for a bitcoin spot etf. The securities and exchange commission has so far approved only btc, futures, etfs and, of course, the biggest difference on why spot etfs are so much better is because the contracts have to be settled in real bitcoin, meaning that the etf has to buy and own real bitcoin. Instead of the futures, where you can just speculate on the future price and you never actually have to own the btc and based on some new information, grayscale is a very confident that this one will be approved and here's.
Why, in a letter sent last week to the sec, seen by the financial times, grayscale's attorneys argued that the manner in which the regulatory agency, the sec, approved the fourth bitcoin futures etf techrium earlier this month, opened the door for a bitcoin spot etf. So here is the precedent that they say the sec just set and it has to do with the 1940s act versus the 1933 act. This is gon na sound, maybe very complicated, but here's. The explanation, grayscale's attorneys, argue the point that the first three bitcoin futures etfs were approved by the sec under the investment company act of 1940. However, the techrium etf was approved under the securities act of 1933, which is a first and according to grayscale's attorneys.
We believe the tequim order confirms the fundamental point that when it comes to approving exchange-traded products, there is no basis for treating spot bitcoin products differently from bitcoin futures products wow. This could be the bitcoin catalyst we have been waiting for. If this gets approved, the sec will likely decide on grayscale's etf application by july of this year and just weeks ago, grayscale ceo did state that he'd consider suing the sec if the bid gets rejected. So this is all coming to a head, something to keep on the radar next piece of news involving elon musk, twitter and the crypto market dogecoin surges on reports that twitter will now consider elon, musk's buyout offer and actually right in the middle of taping of filming. This today, twitter and elon musk will reach a deal on a buyout to be announced shortly.
So this is happening, and this is happening today and how did the crypto market respond? Well, the popular memecoin dogecoin jumped more than 12 percent in the past hour. Following the reports on this buyout and actually twitter stock also jumped more than five percent, actually much more than that. Now, amid the news now, what does that mean for you as a twitter user as a crypto holder as of this morning, elon musk states. I hope that even my worst critics remain on twitter, because that is what free speech means so give me your thoughts on this down below, in my opinion, any move that stifles censorship and promotes freedom.
I think that's good next piece of quick news involving ethereum warning. The board ape yacht club, instagram and discord have both been hacked. Do not click the links board. Api club's, instagram account and discord. Server were both hacked on monday, with an unofficial, mint link being sent out to followers in a direct tweet from the bayc.
There is no mint going on today. It looks like diyc's instagram was hacked, do not mint anything click, links or link your wallet to anything and if you're wondering what was the bait, what were they telling their instagram followers that they would get if they, if they clicked the link? The fraudulent link claimed that users could meant to land in the board api club's upcoming, other side meta, which is due to launch later next week, so in their upcoming metaverse, that we don't really have that. Many details on that was the bait, which of course, was fake. It is estimated that around 54 of those nfts valued around 13.
million dollars were stolen by the hackers. So please use this as a cautionary tale and next up, let's talk altcoins and again feel free to check the timestamps find the altcoin news that is most relevant to you, but next up, shiba inu launches a burning portal to reward ship token holders. So this is a major upgrade for the shiv ecosystem. The team behind the popular meme coin, shiba inu has launched a new burning mechanism designed to decrease the token circulating supply, while rewarding hodlers with a yield generating token. So the shib burning portal went live over the weekend with the team tweeting on monday that over 8 billion tokens actually now almost 12 billion tokens have now already been burned.
Now. Why would an individual do this? Yes, it potentially makes everybody else's tokens more scarce, but then you lose your tokens. So why would you choose to burn your tokens? Well, the ship burning portal was launched in collaboration with royosus vision, roy, she and erc20 token, aimed at supporting the growth of the ship ecosystem users who decide to burn their ship.
Tokens are given another token called burnt ship which pays rewards in roy. She tokens at varying rates, according to the developers, point four nine percent of all roy. She transactions will be distributed to the owners of burnt ship tokens wow. Quite the experimentation going on in crypto. Give me your thoughts on this down below and next up.
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So that's steppin, but the news today is this: peckshield, a prominent blockchain security firm exposed the existence of numerous phishing websites for the web3 lifestyle, app step in on monday. So, basically, just like the board, a biat club news that we discussed earlier users were signing over their wallets for maybe scam, giveaways or just signing transactions and then signing away their funds to these phishing scammers. Next piece of news on altcoin injective injective pro the premier derivatives dex built on objective, is now the first ever exchange to launch an nft floor price perpetual market with the board ape yacht club, slash wrapped eth listing, meaning users can now trade. The popular board api club collection with as little as one dollar, so, if you believe in a decentralized future, this is what you like to see and essentially what this the problem that they're solving is the multi-hundreds of thousands of dollars. Nft price tag on these board api clubs likely has kept most users from that exclusive club.
Well, now, board api club floor price perpetuals on injected pro lowers the barrier to entry by enabling users to trade based on the floor price of the collection without having to purchase the nft itself. So again, we have tools like this, not necessarily for board api club. Yet but tools like this on centralized exchanges, cool to see now decentralized derivative exchanges, implementing upgrading and providing more value to users. Next piece of growth, news for the lrand ecosystem, we're excited to announce the moment. You'Ve been waiting for ithium is officially coming to the mayor.
Exchange, so if you like eagle, do you like this and just for some perspective on what is ethium? And i am a token holder. Ethium empowers data ownership in web3 and metaverse ecosystems and creates new market value for your data, and we enable this by providing decentralized data brokerage technology if that still doesn't make sense. Basically, it's a suite of tools that enable high value data to be bridged from web 2 to web 3, keeping you in control and then traded via peer-to-peer sales, our data nfts. Let you fully own and control your data and, in addition, our nfme id technology allows you to immerse yourself in the metaverse, an nft representation of your data on the blockchain, so keep the power with the users.
This is a part of the lrund ecosystem, always cool to see the growth and final quick piece of news for ethereum openc openc has just acquired ethereum nft aggregator gym in their push for pro users. So jim, that's the name of the company lets users batch, buy nfts from multiple platforms to save on fees and openc plans to integrate its functionality. This is interesting because this means openc is potentially about to have a pro side, just like coinbase and coinbase pro. Maybe we'll see an open c and openc pro two versions of the same platform in a direct quote from openc as the nft community grows, we've recognized a need to better serve more experienced pro users and offer more flexibility and choice to people at every level of Experience and again just for perspective, gem is a single platform that connects various nft marketplaces, including openc, looks rare and wearable and lets users purchase assets from any of them in a single transaction, so cool to see the progress cool to see the growth of the ethereum Nft ecosystem, that is the video. My name is austin.