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Crypto Chaos: Pump.fun Hack, Biden's Big Decision, and Grayscale's CEO Shift
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"The State of Crypto" – May 20th Episode Dive into today's jam-packed crypto news: 1. **Pump.fun Hack Update**: Unravel the drama surrounding a $2M theft by a former employee named "Stacc," his public grievances, and his eventual arrest in London. 2. **Regulatory Decisions**: President Biden's crucial stance on SAB 121, concerns about the SEC's crypto custody rules, and an anticipated verdict on the Ethereum ETF by SEC Chair Gary Gensler. 3. **Legislative Watch**: The House is set to vote on the FIT Bill to clarify CFTC and SEC roles in digital asset regulation. Plus, a major token unlock of $362M, including $343M in $AVAX tokens. 4. **Future of Blockchain**: Roy Hui of LightLink discusses the potential of gasless blockchain technology to revolutionize the space by reducing transaction fees. 5. **Corporate Shifts**: Grayscale's CEO Michael Sonnenshein steps down, with former Goldman Sachs executive Peter Mintzberg taking over. Kraken rethinks Tether's USDT support amid tightening European regulations. Stay informed as we delve into these stories and their potential impacts on the crypto market.
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