Crypto Inflows Smash Records at $2 Billion in May
GLOBAL NEWS?
U.S. Spot Bitcoin ETFs Record 15th Consecutive Day of Net Inflows
U.S. spot bitcoin ETFs have seen net inflows for 15 consecutive days, totaling $105.12 million. Fidelity's FBTC led with $77 million, followed by Bitwise's BITB with $14 million and Ark Invest's ARKB with $11 million. Cumulative net inflows now stand at $13.96 billion. Global crypto investment products also saw significant inflows, exceeding $2 billion last month.
Solana Sees Explosion of New Tokens in May
Solana saw a surge in new token creation in May, with over 455,000 tokens launched on the blockchain. This dwarfs the number of tokens created on Ethereum and other competing platforms. The ease of creating tokens on Solana, coupled with the popularity of memecoins, is driving this trend. Platforms like Pump.fun are making it simple for anyone to launch a token, leading to a flood of new memecoins, including some with a political bent.
May Inflows Smash Records, US & Bitcoin Lead
Crypto investments boomed in May, hitting record highs with over $2 billion in inflows. US investors and Bitcoin funds dominated, with BlackRock's IBIT ETF dethroning Grayscale's GBTC for top spot. Ethereum showed signs of life with inflows returning after potential ETF approvals.
Former Binance CEO CZ Begins Prison Sentence
Changpeng Zhao (CZ), founder of cryptocurrency exchange Binance, began a 4-month prison sentence after pleading guilty to anti-money laundering (AML) violations. Binance also reached a record $4.3 billion settlement with US authorities. This case underscores the growing focus on financial regulations within the cryptocurrency industry.
Biden Campaign Ramps Up Crypto Outreach
Joe Biden’s election campaign has had a shift in tone and is now reaching out to crypto industry players. This comes as a result of the increasing role that crypto could play in the US elections.?This move was also promoted by the Trump campaign’s announcement that they would accept crypto donations and his recent pro-crypto remarks.
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