Biden Crushes Crypto Hopefuls & Why Celebrity Memecoins Won’t Last

Matt breaks down the most important events in crypto from the past week. Topics include the Ethereum ETF, U.S. President Biden denying the crypto custody bill, celebrity memecoins and altcoin updates.

Key Takeaways 

• The Ethereum ETF applicants started submitting their S-1 filings to the U.S. SEC. Eric Balchunas, a senior ETF analyst at Bloomberg, expects the ETFs to start trading in early July.  
• U.S. President Biden vetoed legislation that would have made it easier for banks to offer custody services for cryptocurrencies.
• Celebrities such as Caitlyn Jenner and Iggy Azalea launched their own cryptocurrencies on Solana. These are extremely risky and will likely lose relevance very soon.
• Among the altcoin updates covered: Arweave’s upcoming AO token, PayPal’s stablecoin launching on Solana, and Sei v2 preparing to go live