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Crypto Weekly Recap: RFK Jr.’s Blockchain Vision, Ethereum ETF Approval in Limbo, Bitcoin’s Halting Bull Run

RFK Jr. Champions Blockchain for Budget Transparency

Presidential hopeful Robert F. Kennedy Jr. stirs interest in blockchain technology during a Michigan rally, proposing to revolutionize budget transparency by integrating blockchain. This move, he claims, would enable citizens to track every expenditure, combating corruption with unprecedented accountability. While some hail the idea, skepticism lingers.

Bitcoin’s Halving Sparks Doubt Amidst Skepticism

Amidst speculation over Bitcoin’s post-halving trajectory, Standard Chartered doubles down on a $150,000 year-end price prediction. However, Paris-based analysts at Kaiko cast doubt, suggesting the halving may not ignite the anticipated bull run. Miners face declining profits, with transaction fees dwindling, casting a shadow over Bitcoin’s short-term prospects.

Spot Ethereum ETF Faces Regulatory Hurdles

The SEC extends its review of Ethereum ETF applications, dimming hopes for speedy approval. Despite heavyweight contenders like BlackRock and Grayscale vying for SEC nod, analysts peg the likelihood of approval at a mere 35%. The Ethereum community braces for prolonged uncertainty.

Wallet Woes and Legal Battles

U.S. authorities crackdown on wallet developers, with Samourai Wallet founders arrested for alleged money laundering. Wasabi Wallet restricts U.S. access, while Phoenix Wallet shuts down operations for U.S. residents. Legal battles ensue, as Custodia Bank appeals a court ruling, and Consensys challenges the SEC over Ethereum oversight.

Mixed Sentiments in Crypto Markets

The spot Bitcoin ETF sector suffers a $217 million outflow, signaling investor caution. However, BNY Mellon’s exposure to BTC ETFs reflects growing institutional interest. Ethereum co-founder Vitalik Buterin criticizes PoW design, while Movement Labs secures $38 million in VC funding, signaling sustained interest despite market uncertainties.

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