Top Crypto News Of The Day: Bitget Wallet, ETH ETF Outflows, and More
Here Are The Top Crypto News of the Day Curated by CoinChapter.com
Bitget Wallet tops Nigeria’s app store
Bitget Wallet has surged to the top of Nigeria’s Apple App Store, outperforming popular apps like TikTok and WhatsApp. This rise coincides with OKX’s withdrawal from the Nigerian market.
Alvin Kan, Bitget Wallet’s COO, reported that the app leads both general and finance categories on Nigeria’s Apple App Store and ranks in the top five on Google Play Store. Data shows a 233% increase in Bitget Wallet’s Nigerian user base in June alone.
Crypto News: Senator Roger Marshall Drops Support for Anti-Crypto Bill
Republican Senator Roger Marshall has withdrawn his co-sponsorship of the Digital Asset Anti-Money Laundering Act (DAAMLA). This is a controversial bill that he initially co-created with Democrat Senator Elizabeth Warren in 2022.
The bill, reintroduced by Warren in July 2023, aims to bring the crypto industry under existing Anti-Money Laundering and counter-terrorism financing frameworks. It would classify various crypto service providers as financial institutions subject to the Bank Secrecy Act.
Crypto organizations have criticized the bill for exaggerating crypto’s role in illicit activities and warned of potential harm to the U.S. crypto industry. The Chamber of Digital Commerce and a group of former military and national security officials have urged lawmakers not to support the bill.
U.S. Spot Ethereum ETFs Experience Net Outflows
On the third day of trading, the nine U.S. spot Ethereum ETFs recorded $152.3 million in net outflows, continuing the trend from the previous day. The Grayscale Ethereum Trust (ETHE) was the only fund with significant outflows, totaling $346.22 million.
Other funds saw inflows, with BlackRock’s ETHA leading at $70.93 million, followed by Grayscale Ethereum Mini Trust and Fidelity FETH. The total daily trading volume for the spot ether funds was approximately $860.8 million on Thursday.
Crypto News: New Jersey Mayor to Invest in Bitcoin ETFs
Jersey City Mayor Steven Fulop announced plans to allocate part of the city’s pension fund to Bitcoin ETFs. The mayor stated that the fund is updating its paperwork with the SEC to reflect this investment, which would be similar to the 2% allocation made by the Wisconsin Pension Fund.
Fulop expressed his long-standing belief in crypto and blockchain technology, viewing the latter as one of the most important innovations since the internet.
Solana’s Solend Rebrands as Save
Solana-based protocol Solend has rebranded as Save, launching new products, including a stablecoin (SUSD), a liquid staking token (saveSOL), and a memecoin shorting platform (dumpy.fun).
SUSD allows for 0% interest borrowing against Solana (SOL), aiming to provide a decentralized alternative to centralized stablecoins. SaveSOL enables users to trade while earning Solana staking rewards and can be used as collateral for SUSD.
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