#ether

Taipei-based Kronos Research, a prominent trading firm and market maker, faced a significant security breach. Hackers accessed the firm's API keys, leading to an estimated loss of $25 million in ether, as reported by blockchain researcher ZachXBT.

ProShares' new initiative is centered on its Short Ether Strategy ETF, an instrument shaped to profit from ETH's downward price movements. This initiative may draw investors interested in volatile market actions or in search of hedging opportunities. With its registration expected to be in place by October 15th, the ETF's debut is planned for the onset of November.

Crypto payments processor Alphapo has reportedly been robbed of at least $23 million in Ethereum, Tron, and Bitcoin, according to blockchain analyst ZachXBT. The stolen funds on Ethereum were exchanged for ether and then moved to the Avalanche and Bitcoin networks. The exact amount of stolen Bitcoin remains unknown. Alphapo's client, HypeDrop, has subsequently suspended withdrawals, noting issues with both withdrawals and deposits of BTC, ETH, and TRX. Despite the situation, HypeDrop assured users that their funds remain secure.

One of the oldest altcoins, has doubled in price since the beginning of the the last week – from $105 to $220. Analysts credit this remarkable growth to the backing of the altcoin by the newly launched cryptocurrency exchange, EDX Markets. EDX is new non-custodial cryptocurrency exchange, backed by major Wall Street players like Citadel Securities, Fidelity, and Schwab, has officially gone live a week ago. It offers popular options like Bitcoin, Ether, Litecoin, and Bitcoin Cash, while consciously avoiding the list of tokens that the SEC considers to be financial securities.

A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem.

ProShares has launched the Short Ether Strategy ETF (SETH), marking the inception of the first futures ETF facilitating traders to potentially capitalize on dips in ETH’s price.

Eric Balchunas from Bloomberg, a seasoned ETF Analyst, estimates a 90% chance of the first Ether Futures ETF receiving approval come early October. According to him, Valkyrie Funds is set to lead with its application, with a series of affirmative decisions expected to follow. “The spot ETF remains in limbo,” Balchunas points out.