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Bitcoin ETF Launch in Australia 2024, US User Ban by Wasabi Wallet, and More Crypto News

Fernanda T
Latest News
April 29 2024 1:44PM

Australia prepares to launch Bitcoin ETFs in line with global trend

Australia is aligning with other countries, such as the USA and Hong Kong, by planning to allow its citizens to invest in Bitcoin ETFs later this year. The Australian Securities Exchange (ASX:ASX) is considering approving its first offerings of spot Bitcoin ETFs, with companies like VanEck, BetaShares, and DigitalX already having submitted their applications. Despite an initially lukewarm response and the challenges of the cryptocurrency market in the past, the industry is optimistic about the growing demand for these innovative financial products.

Hong Kong to launch Bitcoin and Ether ETFs tomorrow, awaits impact on global market

The cryptocurrency community is watching closely as Bitcoin and Ether ETFs are set to launch in Hong Kong on April 30, marking a significant event for the sector. Three major Chinese firms, China Asset Management, Bosera Asset Management, and Harvest Global Investments, plan to introduce these cryptocurrency ETFs on the Hong Kong Stock Exchange. This launch follows the success of spot Bitcoin ETFs in the USA and represents a step forward in offering globally regulated investment products. The initiative is seen as a milestone that could influence the development of similar products around the world.

Significant drop in Bitcoin ETF inflows as interest wanes

According to the weekly report from CoinShares, investments in Bitcoin ETFs in the United States have seen a drastic reduction of over 50% last week, falling from $254 million to $126 million. This decrease has contributed to the third consecutive week of net outflows in the cryptocurrency investment products market, reaching $435 million, the highest since March. Despite the outflows decreasing, Grayscale (AMEX:GBTC) led with $440 million withdrawn from the ETF, although this amount represents the smallest weekly outflow in nine weeks.

Falls in Bitcoin and Ether reflect concerns about stagflation in the USA

Bitcoin (COIN:BTCUSD) and Ethereum (COIN:ETHUSD) recorded drops of -0.25% and -3.21%, respectively, in the last 24 hours. Influenced by renewed concerns about stagflation in the USA, Bitcoin reached $62,841, while Ether depreciated to $3,163. The stagflation scenario, characterized by slow economic growth and persistent inflation, further diminishes the chances of the Fed reducing interest rates.

Lone miner achieves significant victory in Bitcoin mining

A lone Bitcoin miner (COIN:BTCUSD) defied the odds and unlocked a valuable block, earning both the full subsidy and transaction fees. This miner received 3.433 Bitcoin, valued at $218,544, for mining block 841,286, using CKpool’s solo software. With a hash rate of 120 PH/s against the network’s total 638 EH/s, his chances of success were slim, but his determination prevailed. This rare feat highlights the persistence and potentially lucrative nature of solitary mining, especially following the recent halving of rewards.

Tether invests $200 million in Blackrock Neurotech’s brain-computer interface technology

Tether, issuer of the stablecoin (COIN:USDTUSD), announced an investment of $200 million in Blackrock Neurotech, a manufacturer of brain-computer interfaces. The investment was made by Tether’s newly created venture capital arm, Tether Evo. The official statement, released on the company’s website, did not specify Blackrock’s new valuation, which is based in Salt Lake City. This sector gained fame primarily through Elon Musk’s Neuralink, known for advancements such as the implant that allowed a quadriplegic man to control videos using only his mind.

Peaq elevates its position in the Polkadot ecosystem with new DePIN adoptions

Recently, the Peaq blockchain network, focused on decentralized physical infrastructure (DePIN) and real-world assets (RWAs), gained prominence by being chosen for two major DePIN projects: MapMetrics and Natix Network. MapMetrics, a Web3 platform that rewards users with tokens and NFTs for sharing traffic and map data, announced its migration from the Solana blockchain to Peaq in search of better compatibility and integration within the DePIN ecosystem. Meanwhile, Natix Network successfully integrated Peaq IDs into its Drive& app to collect geospatial data, aiming to leverage Peaq’s advanced data verification and management capabilities. CEO responds to criticisms about GPU availability and network attack

Ahmad Shadid, CEO of the decentralized computing platform, rebutted criticisms regarding GPU availability on his network, revealing a Sybil attack. Shadid explained how the company detected and combated the massive influx of fake GPUs. Despite temporary setbacks, Shadid assures that the infrastructure is operational. Executives, including Hushky and Gaurav Sharma, quelled rumors, suggesting personal motivations behind the criticisms. remains steadfast in its development plans.

Wasabi Wallet bans US users following regulatory threats

zkSNACKs, the developer of Wasabi Wallet, took a drastic step by strictly prohibiting US citizens and residents from accessing its services, in response to recent regulatory pressures. The team announced the blocking of IP addresses for US users on their main domains. This move comes after the arrests of the founders of Samourai Wallet and the co-founder of Tornado Cash, Roman Storm, on charges of money laundering and sanctions violations.

Lazarus Group launders over $200 million in stolen cryptocurrencies

According to on-chain researcher ZachXBT, the Lazarus Group, linked to North Korea, laundered over $200 million in stolen cryptocurrencies between 2020 and 2023. Utilizing cryptocurrency mixer services and peer-to-peer (P2P) markets, the group converted the stolen digital assets into fiat currency. Lazarus, responsible for major hacks including the Ronin Bridge in 2022, is considered one of the most notorious cryptographic hacker groups.

Binance founder, CZ, confronts sentencing in the US with support from prominent figures

The former CEO of Binance, Changpeng “CZ” Zhao, will face his sentencing in a Seattle court this Tuesday, where the US Department of Justice has recommended a three-year prison term due to the severity of his conduct. Despite this, the prediction market platform Polymarket suggests a possible early release, with bettors predicting a 42% chance of CZ being released in less than six months. Bets also indicate a 96% chance of him being released before two years. Significant support from influential figures, such as former US Ambassador to China, Max S. Baucus, and others, may influence the reduction of the sentence.

BCB Group expands in Europe with new French regulatory licenses

BCB Group, a payment processor that links the cryptocurrency sector to the banking system, announced plans for European expansion after receiving regulatory approval in France. The company received authorization from ACPR and AMF, the main financial regulatory bodies in France, to operate as an Electronic Money Institution (EMI) and Digital Asset Service Provider (DASP). These licenses will allow BCB to offer expanded institutional services in Europe and collaborate with various participants in the financial and virtual assets market.

Russia imposes restrictions on cryptocurrency circulation starting in September

Russia will implement strict measures from September 1, restricting the use of cryptographic assets like Bitcoin (COIN:BTCUSD), allowing only locally issued digital financial assets. Anatoly Aksakov, leader of the initiative from the State Duma’s Committee for the Financial Market, explains that the action seeks to strengthen the ruble’s dominance amid geopolitical tensions. While the restrictions will affect exchanges and trading platforms, exceptions will be made for miners and experimental projects from the Central Bank, recognizing the significant tax revenue generated by cryptocurrency mining.