Crypto Market UpdateTable of ContentsBitcoin and ETFsBitcoin Surges Above $67,500 Amid ETF DemandUS Bitcoin ETFs Attract $1.05 Billion in InflowsEthereum and SEC DevelopmentsSEC Decision on Ethereum ETFs Expected SoonVitalik Buterin Discusses Ethereum's Decentralization ChallengesExchange UpdatesBinance Prioritizes Smaller-Cap Projects for ListingsKraken Won’t Delist Tether’s USDT in EuropeLegal and Regulatory NewsJudge Rules Against Craig Wright in COPA CaseGemini to Return 97% of Frozen Assets by MayLeadership and Corporate ChangesGrayscale Appoints Peter Mintzberg as CEOJustin Drake Joins EigenLayer, Sparking DebateToken and Market PerformanceGnosis Token GNO Surges Amid Buyback ProposalNotcoin Faces Severe Value Decline Post-LaunchSecurity and ExploitsPump.fun Exploiter Gets CaughtNFT Market HighlightsFantasy Top Leads NFT Market SalesBitcoin Surges Above $67,500 Amid ETF DemandBitcoin is trading near $68,000, reflecting an over 5% increase since May 13. The demand for Bitcoin ETFs surged. U.S. regulatory developments, such as potential SEC decisions on spot ether ETFs and upcoming legislative actions, are influencing crypto markets. Despite a recent decline in new Bitcoin wallet addresses, falling to levels not seen since 2018, there are signs of a potential market recovery driven by innovative protocols, increased venture capital interest, and small investors selling their coins to whales.US Bitcoin ETFs Attract $1.05 Billion in InflowsAs of May 20, 2024, US spot Bitcoin ETFs saw net weekly inflows of $948.3 million, with total inflows reaching $1.05 billion over the past two weeks. Fidelity's FBTC led with $344.5 million, followed by Ark Invest’s ARKB with $243.7 million. Bitcoin whales have accumulated $16.8 billion in BTC since ETF launches in January, marking significant institutional adoption. Despite the bullish sentiment, some analysts argue that ETFs are pulling money into traditional finance, not benefiting DeFi.SEC Decision on Ethereum ETFs Expected SoonMultiple sources report the SEC’s imminent decision on spot Ethereum ETFs. Analysts expect a rejection, with approval odds around 30%-40% by the end of May. Bloomberg analysts lowered approval chances from 70% to 35%. Significant whale activity includes a 15K ETH ($46M) transfer to Kraken, raising concerns about price drops. Despite skepticism, some experts remain cautiously optimistic. The SEC’s approval of 19b-4 filings and delays with S-1 forms are key hurdles. Ethereum trades around $3,100, reflecting market anticipation.Vitalik Buterin Discusses Ethereum's Decentralization ChallengesVitalik Buterin, Ethereum’s co-founder, discusses decentralization challenges in Ethereum: MEV, staking complexities, and node hardware requirements. He proposes MEV minimization and quarantine methods, advocates for tech to reduce staking entry barriers, and emphasizes decentralization preservation while scaling Ethereum. Buterin calls for continuous improvement to ensure Ethereum's uniqueness is respected.Binance Prioritizes Smaller-Cap Projects for ListingsBinance urged small and medium projects to address the trend of low float and high fully diluted valuations (FDVs), aiming to enhance the blockchain ecosystem by supporting projects with strong fundamentals. It came as Binance Research estimated $155 billion in token unlocks between 2024 and 2030, posing risks of unsustainable price appreciation and significant selling pressure. In a strategic shift, Binance now prioritizes smaller-cap projects for listings, requiring a Minimum Viable Product (MVP), an active team, and sustainable community token allocation.Kraken Won’t Delist Tether’s USDT in EuropeCryptocurrency exchange Kraken confirms it won't delist Tether's USDT stablecoin in Europe following the impending MiCA regulation. Amid SEC's lawsuit, Kraken seeks to dismiss the claims to avoid impacting US financial regulations. The focus on stablecoins leads to a discussion about Tether's dominance over USD Coin due to its earlier launch and significant trading volume. Judge Rules Against Craig Wright in COPA CaseOn May 20, 2024, U.K. Justice James Mellor ruled against Craig Wright in the COPA vs. Craig Wright case, stating Wright lied and forged documents in an effort to prove he is Satoshi Nakamoto. The judge declared Wright's actions as a serious abuse of the court's process, leading to a significant win for the open-source community. Gemini to Return 97% of Frozen Assets by MayGemini will return 97% of frozen assets in-kind to Earn users by the end of May. Assets frozen since November 2022 due to Genesis's bankruptcy. Users will receive assets they lent into Earn, plus appreciation. Genesis got Court approval to return $3 billion. The New York Attorney General reached a $2 billion settlement with Genesis for defrauding investors through the Gemini Earn program. The agreement mandates the return of funds to investors and prohibits Genesis from operating in New York. Letitia James accused Genesis of deceitful practices, with investors sending over $1.1 billion to the platform. Grayscale Appoints Peter Mintzberg as CEOGrayscale Investments has appointed Peter Mintzberg as CEO, effective August 15, 2024. He, currently Global Head of Strategy for Asset and Wealth Management at Goldman Sachs, will also join Grayscale's Board of Directors. Mintzberg succeeds Michael Sonnenshein, who steps down to pursue other interests. CFO Edward McGee will serve as interim principal executive officer. Sonnenshein expanded Grayscale from $60 million to $30 billion in assets under management, and led a historic court victory against the U.S. Securities and Exchange Commission (SEC). Justin Drake Joins EigenLayer, Sparking DebateJustin Drake, an Ethereum researcher, sparking conflict concerns by joining EigenLayer, a staking startup, with a substantial financial incentive in EIGEN tokens. Debate surrounds Drake's impartiality and potential influence on research objectivity. Drake defends transparency, focusing on risks associated with restaking. Widely discussed Ethereum Foundation staff engagements raise general crypto space conflict issues. Gnosis Token GNO Surges Amid Buyback ProposalGnosis token GNO surged as Thanefield Capital proposed a $30 million buyback to realign its market value with the intrinsic book value. The initiative earned community support, with co-founder M. Köppelmann emphasizing the need for a buyback growth program. GNO's price rose 20% at one point, currently at $319, reflecting positive market sentiment. Karpatkey will manage the buyback. Notcoin Faces Severe Value Decline Post-LaunchNotcoin (NOT) faces severe value decline, plummeting over 85% in its debut week despite Telegram’s notable endorsements. Airdropped tokens flood the market, causing price turbulence. Staking platform introduction aims to stabilize prices, but analyst forecasts further price dip. Market cautious as short-term outlook remains uncertain. Pump.fun Exploiter Gets CaughtJarret Dunn, a former Pump.fun employee, was arrested for exploiting the crypto platform, causing $1.9 million in losses. He admitted to the attack on social media. Pump.fun stated he abused his access, resulting in the significant loss. Dunn tweeted about being charged with theft and urged users to withdraw funds. He was released on bail but faces mental health issues and legal proceedings. Top Altcoin Gainers and LosersGainers: Pendle PENDLE (+18.64%) Pyth Network PYTH (+13.77%) Fantom FTM (+13.53%) Losers:Bonk BONK (-2.32%) Chainlink LINK (-1.79%) eCash XEC (-1.59%) NFT Market MapFantasy Top Leads NFT Market SalesThe Fantasy Top collection led the NFT market with US$1.8 million in sales. It had 8,610 daily transactions, with 2,155 buyers and 3,430 sellers. Fantasy Top's total sales reached US$46.13 million. Ethereum blockchain dominated, with US$4.87 million in sales. Other prominent collections include Guild of Guardians Avatars, DMarket, Azuki, and Bored Ape Yacht Club. This article has been refined and enhanced by ChatGPT.