Here’s what happened in crypto today
In today's cryptocurrency highlights, Errol Musk, Elon Musk's father, is attempting to raise $200 million through a memecoin project named Musk It (MUSKIT). Despite its launch in December 2024, the token has seen a significant decline, losing over 52% of its value and currently trading at $0.02 with a market capitalization of $25 million. Meanwhile, the US Securities and Exchange Commission (SEC) has given initial approval to the Bitwise Bitcoin and Ethereum ETF, marking a crucial step towards its potential launch, which could offer investors exposure to the spot prices of both cryptocurrencies. The approval follows the appointment of a crypto-friendly acting chair at the SEC. Additionally, European Central Bank President Christine Lagarde has expressed confidence that Bitcoin will not be integrated into the central bank’s reserves, citing the need for assets that are liquid, secure, and safe. This statement comes amid discussions of diversifying reserve assets within central banks.
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