ProBit Bits — ProBit Global’s Weekly Blockchain Bits Vol. 106

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 Trump Pushes For All Future Bitcoin Mining To Be Done In America

Donald Trump met with executives from CleanSpark Inc. and Riot Platforms, expressing his strong stance for all the remaining Bitcoin to be mined in the U.S. Trump criticizes President Biden’s stance on Bitcoin, claiming it benefits rival nations. Trump’s call for domestic Bitcoin mining highlights a push for U.S. companies to utilize local resources, countering mining activities currently concentrated in countries like China and El Salvador. With about 90% of Bitcoin supply minted, it is a race to see who can mine all the Bitcoin.

 $200M Withdrawn from Bitcoin ETFs As Fed & CPI Uncertainty Looms

U.S.-listed bitcoin ETFs experienced $200 million in net outflows on Tuesday, marking a second consecutive day of withdrawals as traders de risked ahead of crucial economic reports. The report indicated that Grayscale’s GBTC was the hardest hit, accounting for $120 million of the outflows and continuing its trend as the worst-performing ETF since its launch. Other ETFs like Ark Invest’s ARKB, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL also saw significant outflows, with no inflows reported. This wave of redemptions coincided with a brief drop in Bitcoin prices to $66,200 before a recovery, driven by market caution ahead of the Consumer Price Index (CPI).

 Andrew Tate's Meme Coin Hits Multi-Million Market Cap

Andrew Tate, a social media influencer, sparked controversy by promoting his Solana memecoin RNT tokens and making bold statements on Twitter. He promises to hold onto $1 million worth of the token assets if his X post got enough retweets. Mr Tate also claims that he will burn some of the tokens he holds. Despite all these bold claims, Andrew Tate’s RNT token has reached a $61 million market cap.

 MetaMask Launches New Ethereum Rewards to All Holders with Pooled Staking

MetaMask has launched pooled staking, enabling ETH holders to stake on Consensys operated validators regardless of their token amount, a departure from the previous 32 ETH minimum requirement. This move aims to democratize staking by expanding access beyond the 1% of ETH holders with large portfolios. Users can unstake at any time, though withdrawal timing depends on Ethereum's validator exit queue protocol. The feature is available to eligible users globally, except in the US and UK.

 Full Approval of Ether ETFs Likely by September, States SEC Chair Gensler

SEC Chair Gary Gensler informed senators during a budget hearing that approvals for Ethereum (ETH) spot ETFs are expected to be completed by this summer. He highlighted progress in handling final registration requirements for ETF filings, paving the way for easier access to trade funds holding actual ETH, similar to existing bitcoin spot ETFs. Gensler refrained from definitively classifying ETH as a commodity, maintaining the SEC's ambiguous stance.

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