Why ETH ETFs Might Not Get Approved; 3AC's Kyle Davies Not Sorry

Will an ETF get approved this year and how much Polygon paid to partner with Starbucks? You're watching Coin Desk Daily. I'm your host, Jen Snay Bloomberg. Analysts predict that Ether ETF S likely won't get approved in May. Analyst James Safer wrote on X that the SEC hasn't engaged with issuers on Ethereum specifics noting that this is the exact opposite of the regulators actions with the spot. Bitcoin ETF seven issuers are hoping to launch an Ether Fund including Blackrock and Fidelity. And while the SEC postponed a decision previously, it will have to make a decision by May 23rd, the final deadline for one of the applicants. Three ac co-founder Kyle Davies was on an episode of the Unchained podcast and said that he won't apologize for the company going bankrupt. He said, quote, am I sorry for a company going bankrupt? No, like companies go bankrupt, almost every company goes bankrupt, right? And quote, Davies and Suzu co-founded three ES capital in 2012 and suffered heavy losses mid 2022 during the crypto market downturn. And according to sources, Polygon paid Starbucks $4 million to host the coffee company's now failed web three project. Starbucks Odyssey, the NFT Powered Loyalty Program that made headlines last year will shutter at the end of the month, the deal was a hallmark of a big and flashy business development strategy for polygon. And while companies usually pay their tech vendors for services rendered, it seems this deal went the other way around. According to sources, the payout ended a competitive hunt by proponents of at least three Blockchain ecosystems who wanted to partner with Starbucks. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.