U.S. SEC Delays Resolution on VanEck Spot Ethereum ETF Application | Cryptocurrency Trends

1. Mainstream Exchange Trends:

• Coinbase CLO paulgrewal.eth: Millions of Americans hold ETH, which has been vital to the cryptocurrency space since its launch in 2015. ETH is a commodity, not a security.
• Coinbase to add support for Ronin (RONIN) on the Ronin network.

2. Cryptocurrency Trends:

• According to Farside Investors, the overall net outflow of Grayscale's GBTC on March 20 was $326 million. Fidelity's FBTC and BlackRock's IBIT funding data are currently unavailable.
• BlackRock launches its first tokenized fund issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), on Wednesday.
• Fed Chairman Jerome Powell says strong job growth alone is not enough to delay a rate cut.
• The U.S. SEC delays its resolution on the VanEck spot Ethereum ETF application.
• LADYS, a meme project, posts on social media that all pre-sale funds have been returned to original wallet addresses.
• OpenAI expects to launch the next version of its flagship AI tool, GPT-5, in the middle of 2024, possibly in the summer.
• TON Foundation to distribute 30 million Toncoin (about $115 million) over a 1-month period starting April 1 as ecosystem incentives.

3. Financing Trends:

• Ooga Booga, a Berachain ecosystem trading aggregation platform, raises $1 million in seed round funding at a $10 million valuation, led by Kenetic Capital.
• Morph, an Ethereum L2 project, raises $19 million in seed round funding led by Dragonfly Capital.
• GRVT, a hybrid exchange, raises $2.2 million in strategic round funding with participation from Selini Capital, Pulsar Trading, Ampersan, and others.

4. Regulatory Trends:

• According to Fortune, the U.S. SEC is launching aggressive legal action to classify Ethereum as a security.
• A Montenegro appeals court rejects a request by Do Kwon, founder of Terraform Labs, to overturn a ruling authorizing his extradition to South Korea.