U.S. SEC Drops Investigation into Uniswap Labs

According to WSJ, the U.S. SEC has dropped its investigation into DeFi company Uniswap Labs. Earlier, the SEC had issued a warning to Uniswap Labs in April last year, planning to take enforcement action against the company.

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U.S. S.E.C. Drops Investigation into Uniswap Labs

According to the Wall Street Journal, the U.S. S.E.C. has dropped its investigation into DeFi company Uniswap Labs.

Earlier, the S.E.C. had issued a warning to Uniswap Labs in April last year, planning to take enforcement action against the company. The warning was reportedly issued in the form of a Wells Notice, which is sent by the S.E.C. to a company before initiating formal litigation, providing the company with a final opportunity to rebut any charges.

The specific nature of the S.E.C.'s allegations against Uniswap Labs is still unclear. However, the probe was part of a broader effort by the S.E.C. to scrutinize the cryptocurrency industry.

The report also mentions that the S.E.C. is currently investigating bankrupt crypto lender BlockFi.

The S.E.C.'s investigation into Uniswap Labs has now been closed, and no further action is anticipated.

U.S. S.E.C. Confirms Receipt of Grayscale's Ethereum Spot E.T.F. Staking Application

According to Watcher.Guru, the U.S. Securities and Exchange Commission (S.E.C.) has officially confirmed receipt of Grayscale's application, which aims to allow staking services for its Ethereum spot E.T.F.

The application, filed on February 15, 2024, seeks to convert the existing Grayscale Ethereum Trust into an exchange-traded fund (E.T.F.) with the ticker symbol "ETH E.T.F."

The E.T.F. would track the price of Ethereum and provide investors with a convenient way to gain exposure to the cryptocurrency.

The application also requests authorization for the E.T.F. to offer an "E.T.F. Paydown Account," which would allow investors to choose to receive dividends in the form of cryptocurrency or have the principal of their E.T.F. shares paid down over time.

The S.E.C. has 45 days to respond to the application, which is expected on April 10, 2024.

Bybit Hacker Has Laundered a Total of 135,000 E.T.H., Expected to Empty All Funds in 8 to 10 Days

According to Ember Monitoring, the Bybit hacker has laundered 45,900 E.T.H. (approximately $113 million) in the past 24 hours, bringing the total laundered to 135,000 E.T.H. (approximately $335 million), which accounts for nearly one-third of the stolen funds.

The hacker's address still holds 363,900 E.T.H. (approximately $900 million), and at the current rate, it is expected to be fully laundered in the next 8 to 10 days.

The Chainalysis report also notes that the majority of the laundered E.T.H. has been used to purchase stablecoins, which are then mixed and withdrawn to private addresses, while a smaller portion has been directly exchanged for other cryptocurrencies.

The report concludes that the Bybit breach is a significant event that has had a major impact on the cryptocurrency industry. The rapid laundering of the stolen funds is a testament to the sophistication of the hacker and the vulnerabilities of the cryptocurrency ecosystem.

Ohio's Bitcoin Strategic Reserve Bill Passes Committee Review, One Step Closer to Approval

Cointelegraph reports that Ohio's Bitcoin Strategic Reserve Bill has passed committee review, moving one step closer to approval.

The bill, which was introduced in January by State Representative Bill Faith, aims to create a Bitcoin reserve in the state treasury, funded by a portion of the annual federal government's monetary contribution to the state.

The bill would also allow Ohio's political subdivisions to invest in Bitcoin and other cryptocurrencies, and it would create a cryptocurrency mining task force to study the potential of mining Bitcoin in the state.

The bill is now being advanced to the full House for consideration.

If approved, Ohio would become the first state in the U.S. to create a Bitcoin reserve.

The bill is part of a broader effort by lawmakers in the state to make Ohio a hub for the cryptocurrency industry.

Zhao Changpeng: No Need to Panic, Bitcoin Will Not Die

Binance co-founder Zhao Changpeng stated on X that there is no need to panic, Bitcoin will not die.

"Calm down, everyone. Bitcoin is not going to die. It's a long-term play. Don't panic and don't