Ethereum News by Thebittimes.Com

Kraken CEO Dave Ripley has fired back against a senior executive of the American Bankers Association (ABA) who argued that stablecoin yields are a “detriment” to banks who are trying to support their community. “This is about ensuring banks continue to be in a position to support their communities and power the economy,” said ABA’s senior vice president of innovation and strategy, Brook Ybarra. She added that “a detriment to that would be allowing the likes of Coinbase and Kraken to pay interest on payment stablecoins.” Ybarra then said that doing so would “fly in the face” of the notion around a payment stablecoin “that it should be a means of payment and not a store of value.”   ABA senior vice president and executive director Jess Sharp was on stage with Ybarra and agreed with her comments, adding that the issue is not “about what’s good for banks,” but rather “what’s good f...

Institutional ethereum investment via ETFs reached a historic — and dismal — milestone yesterday when for an entire day on Wall Street, zero net new US dollars flowed into spot ether ETFs. Known as ‘daily total net flow’ or simply ‘flows’ in crypto parlance, this metric sums the total amount of money invested into spot ether ETFs (inflows) against the total amount of money withdrawn (outflows) on a daily basis. The intention of the metric is to communicate how much effect the spot ether ETFs — distinct from other investment vehicles like spot or derivative purchases — contribute to ether’s price on a day-to-day basis. Calculations are typically in US dollars and take into account all purchase and sale transactions across the nine spot ether ETFs listed on US stock exchanges by sponsors BlackRock, Fidelity, Bitwise, 21Shares, Franklin, Invesco/Galaxy, VanEck, and Grayscale’s two spot ETFs. Ether ETF flows have disappointed everyone Monday’s figure of $0 con...