A Week in Review: Ether ETFs have Senate opposition， judge rules Wright is not Satoshi， & other news

We’ve selected the hottest materials of the past week for you to stay up-to-date with the latest crypto news:

#1\xa0Senators pressure SEC’s Gensler not to approve any more crypto ETFs

Two United States senatorswant Gary Gensler to pull the pinon any further crypto exchange-traded funds (ETFs), citing “enormous risks” to retail investors. In a March 11 letter, Democrat senators Jack Reed and Laphonza Butler claimed that allowing any further approvals of crypto ETFs would see investors exposed to “thinly traded” markets rife with fraud and manipulation. The senators also urged the U.S. Securities and Exchange Commission to take “several specific steps” with the already launched Bitcoin ETF products, requesting that BTC ETF brokers and advisors be subjected to further regulatory scrutiny. There are eight proposed spot Ether ETF applications awaiting approval by the SEC.

#2.\xa0Judge rules Craig Wright is not Satoshi Nakamoto: Report

Craig Wrightis not Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network, according to Judge James Mellor's ruling in the United Kingdom on March 14. Closing arguments began in London on March 12 in the lawsuit brought by the Crypto Open Patent Alliance (COPA) lawsuit against Wright, an Australian computer scientist who claimed to be Nakamoto since 2016. Wright has been accused of massive document forgery for supporting his claim of being the pseudonymous Bitcoin founder. COPA was seeking injunctive relief to prevent Wright from further claiming to be Nakamoto.

#3.\xa0Dencun upgrade goes live on Ethereum mainnet

The Dencun upgradewas successfully rolled out on the Ethereum mainnetat 1:55 pm UTC on March 13. The most anticipated hard fork since the Merge is expected to significantly reduce the transaction fees of layer-2 networks and enhance Ethereum’s overall scalability. Dencun incorporates nine different Ethereum Improvement Proposals. The first part, Cancun, focuses on improving how transactions are managed and processed on the execution layer, while the second part, Deneb, aims to improve the consensus layer, which refers to how network participants agree on the state of the blockchain. The promised fee reductions won’t affect Ethereum mainnet users.

#4.\xa0Prediction of the week-\xa0Bitcoin has 6 months until ETF ‘liquidity crisis’ — New analysis

Bitcoin faces a “sell-side liquidity crisis”by September if institutional inflows continue, according to industry analyst Ki Young Ju, founder and CEO of on-chain analytics platform CryptoQuant.

Now holding nearly \\$30 billion, Bitcoin ETFs have become the most successful launch in ETFs history. Should the trend continue, however, a new phenomenon could arise where there will not be enough BTC available to meet demand.

“Bears can’t win this game until spot Bitcoin ETF inflow stops,” Ki summarized. He noted that ETFs alone put away more than 30,000 BTC last week, and with 3 million BTC in exchange and miner wallets, the odds of a supply-induced price shock become clear.

“Last week, spot ETFs saw netflows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by US entities,” he continued. “At this rate, we’ll see a sell-side liquidity crisis within 6 months.”

#5.FUD of the week-\xa0Hong Kong regulators issue warning against Bybit, MEXC exchanges

Hong Kong’s Securities and Futures Commission (SFC)has put cryptocurrency exchange Bybit on its warning listas of March 14, including 11 products offered by the exchange, such as Bybit Futures, Bybit Options, Bybit Leveraged Tokens, Dual Assets, Bybit Lending, Bybit Wealth Management and others. The following day, on March 15, the commission alsoadded crypto exchange MEXCto its warning list. According to the SFC statement, MEXC is actively marketing its services to Hong Kong-based investors despite not having a license from the SFC or applying for a trading platform license.

#6.\xa0FUD of the week-\xa0Old Trust Wallet iOS vulnerability from 2018 may still affect some accounts

An old vulnerability in the Trust Wallet iOS appmay still affect individuals who created accounts with it— even if they no longer use Trust Wallet — according to a recent report from security researchers at SECBIT Labs. The vulnerability only existed from Feb. 5 through Aug. 21, 2018 and does not affect accounts created after that time period, the researchers stated. However, some users may be unaware that the vulnerability existed and may still be planning to use the exposed wallets.

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