Hodler’s Digest, May 26 – June 1 – Cointelegraph Magazine

Ethereum ETF June launch ‘legit possibility’ as BlackRock files S-1

United States spot Ether exchange-traded funds (ETFs) could potentially launch by late June, following recent positive developments in the approval process. BlackRock updated its necessary Form S-1 filing for the iShares Ethereum Trust (ETHA) with the U.S. Securities and Exchange Commission (SEC) on May 29, a week after the SEC approved its 19b-4 filing. According to Bloomberg ETF analyst Eric Balchunas, these are good signs that indicate other applications might soon follow. According to Balchunas, a late June launch is possible, but an approval around July 4 is more likely.

Binance France changes ownership following regulator warning

Binance France has undergone a complete ownership change, now fully owned by new shareholders, following a warning from France’s Financial Markets Authority. The move was intended to remove former Binance CEO Changpeng Zhao from the company’s control due to issues with U.S. regulatory bodies, including the Justice Department and the Financial Crimes Enforcement Network. Zhao pleaded guilty to U.S. charges in November and was sentenced to four months in prison.

ChatGPT-coded memecoin reaches $638M market cap

A memecoin called Turbo, created using the OpenAI chatbot ChatGPT with an initial investment of $69, reached a market capitalization of $638 million a year after its launch. The coin’s price peaked at $0.009302 on May 28, setting a new all-time high and bringing its valuation up significantly from $27 million three months earlier — a 2,262% increase. At its peak, the memecoin has risen by 13,192.3% from September 2023. The token’s creator, digital artist Rhett Mankind, claims it “exploded in popularity” due to his lack of involvement in its management.