In wake of crypto’s leverage wipeout, SEC approves ‘SUI-on-steroids’ ETF

21Shares has launched its first leveraged SUI ETF on Nasdaq following approval from the SEC, marking a significant milestone in the cryptocurrency investment landscape. This new product allows investors to gain exposure to SUI with enhanced leverage, reflecting the growing demand for innovative financial instruments in the crypto sector.

The SEC has approved the first leveraged Sui ETF, allowing 21Shares to launch a 2x product on Nasdaq, reflecting a growing demand for cryptocurrency ETFs. This approval marks a significant step in the evolving landscape of crypto investment products.

Citadel has urged the U.S. Securities and Exchange Commission (SEC) to impose regulations on decentralized finance (DeFi) similar to those applied to traditional finance (TradFi), igniting significant backlash from the crypto community that values DeFi's independence from conventional financial systems.

Citadel has submitted a letter to the U.S. Securities and Exchange Commission (SEC) challenging the regulatory framework surrounding decentralized finance (DeFi), which has led to significant backlash from industry stakeholders. This move is perceived as an attempt to classify DeFi under traditional financial regulations, raising concerns about the future of the sector.

Hayden Adams, the founder of Uniswap, has publicly criticized Citadel Securities for its recent submission to the U.S. Securities and Exchange Commission (SEC), which seeks to classify decentralized finance (DeFi) under the same regulations as traditional finance (TradFi). Adams argues that this move threatens the fundamental principles of open, peer-to-peer finance.

Citadel Securities has sparked controversy by urging the U.S. Securities and Exchange Commission (SEC) to regulate decentralized finance (DeFi) platforms that offer tokenized U.S. stocks under existing securities laws, opposing any exemptions that may allow these platforms to operate outside traditional regulations.

The SEC has decided to block the launch of highly leveraged ETFs that aimed to deliver three to five times the daily performance of stocks and cryptocurrencies, citing concerns over excessive risk-taking. This decision reflects the regulatory body's ongoing scrutiny of investment products that could expose investors to significant volatility.

Sui (SUI) has gained significant market traction, experiencing a 31% surge following Coinbase's approval to offer SUI trading to New York residents, marking a notable breakout amidst a generally stagnant altcoin market. This surge coincided with a substantial token unlock event, which typically exerts downward pressure on prices but instead attracted strong buying interest.