While trading and investing in the crypto market right now may seem about as fun as running barefoot through a field of Legos, the market isn’t without some positive news.
Matt Hougan, chief investment officer at Bitwise, pointed to the approval of several Bitcoin Futures ETFs as progress towards a future spot ETF. Grayscale’s David LaValle’s comments complimented Hougans, saying that it is a matter of when not if a Bitcoin ETF is approved. Look to July 6, 2022, as an important date – the SEC may deny Grayscale’s ETF application.
That, however, shouldn’t be a big deal. Gone are the days when SEC denial of a spot ETF affected the market. And really, except for Bitcoin, the broader crypto market looks like Oberyn Martel after The Mountain smooshed his head into jelly – things could still get messy, but probably not by much.
On the bad and ugly side, the crypto space is still reeling from Do ‘The Con’ Kwon shenanigans with Terra’s LUNA and $UST.X. Rumors are that, allegedly, Con Kwon sold off $80 million thirty-three times over a few months. Check out FatMan’s (of the Luna Research Forum) Twitter thread for a detailed and damning read into Kwon’s actions.
Con Kown is the same dude that thought, ‘oh, $UST.X 1.0 failed. Let’s try this again real quick and see what happens and that will make everything all better!’