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Gordon Grant noted that, until staking for spot ether ETFs is enabled, institutional traders will use on-chain solutions instead.

The latest price moves in bitcoin (BTC) and crypto markets in context for June 13, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

The firm, which already holds 214,400 BTC, also announced the redemption of $650 million of its 2025 convertible senior notes.

Australia’s regulators have provided rare updates on their plans for the digital assets sector, including plans to introduce a draft framework for stablecoins and hinted that more enforcement is on its way against unlicensed entities during an event in Sydney on Wednesday.

Chris Amani, CEO of Terraform Labs, said the firm plans to dissolve its operations and urged the community to take over.

Bloomberg report says the company will have an increased focus on tokenization.

The Electric Reliability Council of Texas’ CEO said in Senate testimony that the state’s grid capacity will need to double in the next decade to handle demand, while the Lieutenant Governor of Texas says more scrutiny is coming for this industry.

Polygon ID has been spun off from Polygon Labs as Privado ID, targeting the mainstream digital identity market.

The decentralized lending protocol was hacked for about $20 million on Monday, after which UwU stated that the vulnerability has been fixed.