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In the wake of the approval of spot Ethereum exchange-traded funds (ETFs) in the United States on May 23, a significant shift in Ethereum holdings has occurred.
According to data from CryptoQuant, centralized crypto exchanges (CEXes) have seen a withdrawal of approximately 797,000 ETH, equivalent to $3.02 billion, between May 23 and June 2. This substantial decrease in exchange reserves suggests that investors are moving their Ethereum into self-custody, reducing the immediate supply available for sale.
Glassnode data, shared by BTC-ECHO analyst Leon Waidmann, reveals that the percentage of circulating Ethereum supply held on exchanges has reached its lowest level in years, currently standing at just 10.6%. This reduction in available supply on exchanges could potentially contribute to increased demand pressure on Ethereum.

Exchange balances for both #Bitcoin and #Ethereum are at their lowest levels in years!
Whales continue to accumulate. #BTC on exchanges is down to 11.6% and #ETH is at 10.6%!
Supply squeeze incoming.
Get ready for the next big move. pic.twitter.com/u4j13DZBJk
— Leon Waidmann | On-Chain Insights (@LeonWaidmann) June 2, 2024

Currently, Ethereum is trading at $3,775, with almost no price movement compared to 24 hours ago and a 23% decrease from its all-time high. During a recent interview Bloomberg ETF analyst James Seyffart said that he believes that the approval of spot Ethereum ETFs was likely influenced by political decisions rather than purely financial considerations.
Crypto caught in a political storm
He suggests that the political climate, including actions by the Biden administration and responses from the crypto community, played a significant role in the approval process. Beyond Bitcoin (BTC) and Ethereum, the approval of other crypto ETFs, such as Solana (SOL), is unlikely without significant regulatory changes, according to Seyffart.
The news follows Friday’s announcement by President Biden that he decided to veto a House Joint Resolution that sought to repeal the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121). In his veto statement, Biden made it clear that crypto regulation is now seen as a partisan issue:
This Republican-led resolution would inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address future issues.
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On Friday afternoon, President Joe Biden announced his decision to veto a House of Representatives move that sought to repeal the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121).
The controversial SEC accounting guidance requires financial institutions holding crypto assets for customers to include these assets on their own balance sheets, which critics argue makes it challenging for these institutions to work with crypto companies. In his veto statement, President Biden wrote:
This Republican-led resolution would inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address future issues. This reversal of the considered judgment of SEC staff in this way risks undercutting the SEC’s broader authorities regarding accounting practices. […] My Administration will not support measures that jeopardize the well-being of consumers and investors.
Banks can’t hold crypto
The veto announcement came shortly after banking group American Banker Association sent a letter to the President, urging him to sign the resolution to overturn SAB 121. The banking organizations’ letter argued that the guidance, as per the Government Accounting Office, prevents regulated banking groups from offering custody services.
Lawmakers also requested that the administration work with the SEC to rescind the guidance if the President still intended to veto the resolution. Despite the resolution passing both chambers of Congress with significant majorities, President Biden’s veto demonstrates his administration’s stance on the matter.
Senator Ron Wyden (D-Ore.), a member of Biden’s party who voted for the resolution, criticized the guidance during CoinDesk’s Consensus 2024 conference in Austin, Texas, arguing that it creates a different standard for crypto compared to other assets in the financial sector.
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Sony has announced that the PlayStation VR2 will allow players access to games on PC via an adapter.
The Japanese console giant released a new statement on the adapter and the changes coming to the virtual reality headset. Owners of the PlayStation VR2 will be able to access these features on August 7.
PlayStation VR2 PC compatibility
As we reported late last month, details emerged about a possible adapter for Sony’s flagship headset. No major updates were announced, but a Sony blog post did hint at a non-descript 2024 release for PC compatibility.
The statement said, “We are currently testing the ability for PS VR2 players to access additional games on PC to offer even more game variety in addition to the PS VR2 titles available through PS5. We hope to make this support available in 2024, so stay tuned for more updates.”
Sony has now made good on its decision to leap into the PC realm and make it possible for expensive tech owners.
Players can access the Steam library of games, meaning “thousands of VR games, including fan favorites like Half-Life: Alyx, Fallout 4 VR, and War Thunder.”
The adapter isn’t cheap, though. It costs $59.99 / €59.99 / £49.99. Sony also mentioned a “commercially available DisplayPort cable (sold separately) that is compatible with DisplayPort 1.4, as well as a Steam account and a PC that meets the minimum requirements.”
Minimum requirements:

Operating system: Windows 10 64-bit / Windows 11 64-bit
Processor: Intel Core i5-7600 / AMD Ryzen 3 3100 (Zen 2 or later architecture is required)
RAM / memory: 8 GB or more
GPU / graphics card: NVIDIA GeForce GTX 1650 or later (Turing or later architecture is required), NVIDIA RTX series, AMD Radeon RX 5500XT or later / AMD Radeon RX 6500XT or later, (For the best performance, we recommend that you use an NVIDIA GeForce RTX 3060 or later or AMD Radeon RX 6600XT or later graphics card)
DisplayPort: DisplayPort 1.4 (must have a standard DisplayPort or Mini DisplayPort output port)
USB: Direct connection only
Bluetooth: Bluetooth 4.0 or later

Players can access a large library of Steam games, but Sony hasn’t made the transition as accessible and easy as possible. Sony hopes players stick to their manufactured devices, but this is a positive step in a much-needed direction.
Image: Sony.
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E3, the Electronic Entertainment Expo staged by the Entertainment Software Association of America, is no more, but its spirit lives on, in the sense that June is still when video game enthusiasts expect major stage shows and live stream reveals for what publishers have cooking in the coming year, and beyond.
Anchored by Geoff Keighley’s Summer Game Fest, which stepped in for E3 when the COVID-19 pandemic first canceled the annual convention in Los Angeles in 2020, the first weekend of June will see 13 — and counting — streamed events showcasing new video games and hardware due to release in the coming year. These are their dates and start times:

Guerrilla Collective Online Showcase: Thursday, June 6, 1 p.m. EDT. Twitch and YouTube
Summer Game Fest: Friday, June 7, 5 p.m. EDT. (Twitch and YouTube)
Day of the Devs 2024: Friday, June 7, 7 p.m, EDT (right after Summer Game Fest. Twitch and YouTube)
IGN Live: Friday, June 7 to Sunday, June 9, airing 10 a.m. to 6 p.m. EDT all three days.
Devolver Direct: Friday, June 7, 8 p.m. EDT. Twitch and YouTube.
Future of Play Direct: Saturday, June 8, 11 a.m. EDT. YouTube.
Wholesome Direct: Saturday, June 8, noon EDT. Twitch and YouTube.
Latin American Games Showcase: Saturday, June 8, 1 p.m. EDT. Twitch and YouTube.
Women-Led Games Showcase: Saturday, June 8, 2:30 p.m. EDT. Twitch and YouTube.
Future Games Summer Showcase: Saturday, June 8, 3 p.m. EDT YouTube, Twitch, Facebook, and X.
Xbox Games Showcase (immediately followed by) Call of Duty: Black Ops 6 Direct: Sunday, June 9, 1 p.m. Facebook, Twitch, and YouTube.
PC Gaming Show: Sunday, June 9, 4 p.m. EDT. Twitch and YouTube.
Ubisoft Forward: Monday, June 10, 3 p.m. EDT. Twitch and YouTube.

Featured image via Wikipedia.
The post Here’s the schedule for this summer’s video game reveals and livestreams appeared first on ReadWrite.