A U.S. judge has agreed to a settlement between the SEC Terraform Labs and its former CEO, Doe Kwan.

According to the court filings, the approved settlement involves Terraform Labs and Kwan paying a combined $4.5 billion in disgorgement and civil penalties.

Plus, they are permanently banned from buying and selling all crypto asset securities,

including Terra ecosystem tokens.

The settlement is binding and cannot be appealed.

An SEC Chair, Gary Gensler, told Senators in a budget hearing

that the applications to run Ether Spot ETFs should be finished this summer. Gensler suggested that

the ether ETFs are already approved, with only the registration details left to be finalized

at the staff level. Once those filings are approved, the new ETFs can be listed opening the wider

markets to easy to trade funds that hold actual ether.

According to a new report from Wall Street giant J.P. Morgan,

digital assets have seen $12 billion of net inflows year-to-date.

If flows continue at the same pace, that number could grow to 26 billion by the end of the year.

U.S. listed spot Bitcoin ETFs led the way with $16 billion of net inflows,

but the bank said the majority of those likely came from existing digital wallets on exchanges,

meaning that not all of the $16 billion is new money entering the crypto space.

That's it for CoinDest Daily. Get more updates at coiness.com. We'll see you next time.