With spot Bitcoin ETF applications now approved by the SEC, the attention is now on spot Ether ETF applications and which way the regulatory body is leaning. Let’s find out about this and other major events that happened in crypto this week.
Bitcoin
The United States government plans to sell $130 million of Bitcoin seized in connection with the infamous Silk Road marketplace.
Leading automotive and clean energy company Tesla has revealed in its earnings report that it did not sell any of its Bitcoin during the fourth quarter of 2023.
Since its conversion to a spot Bitcoin ETF earlier this month, the FTX bankruptcy estate is responsible for a significant chunk of outflows from Grayscale’s Bitcoin fund.
Ethereum
The SEC has delayed its decision on BlackRock’s spot Ethereum ETF to March. It has also delayed Fidelity’s application for a Fidelity Ethereum fund.
Although the SEC has approved spot Bitcoin ETFs, it has not given a clear indication of its intention regarding the Ethereum ETF applications.
Ethereum Execution Client Geth has seen a 5% drop in its share after community members raised concerns over the network’s diversity and fears that its concentration could lead to a “black swan event.”
Business
Defunct crypto lending platform Celsius has moved a staggering $1 billion worth of ETH to several centralized exchanges, sparking speculation that it was preparing to repay creditors in crypto.
Bitcoin mining firm Core Scientific successfully returns to Nasdaq after overcoming $400 million in debt through strategic reorganization and debt reduction initiatives.
Crypto lending platform Abra is permitting its investors to withdraw up to $13 million in funds as part of its settlement with the Texas State Securities Board (SSB).
Security
DeFi platform 1inch has screened millions of wallets for Anti-Money Laundering (AML) risks since 2022.
A coordinated crypto hack and phishing campaign is targeting investors and flooding their inboxes with fake emails promoting token airdrops.
The SEC has blamed a SIM swap attack for the breach of its official X account, alluding that the hacker had hijacked a staffer’s phone.
Blockchain analysis firm Chainalysis reported that while North Korea-linked hacks hit a record high in 2023, the actual amount of funds stolen by them registered a drop of 50%.
Legal experts believe there is a high chance that Coinbase will secure a complete dismissal in its ongoing lawsuit with the SEC.
CBDC
Former GOP presidential candidate Vivek Ramaswamy warns against the introduction of a US central bank digital currency (CBDC), citing threats to citizens' financial freedom.
Regulation
CFTC Chair Rostin Benham has flagged concerns around the recently approved spot Bitcoin ETFs and called for new legislation to regulate crypto.
A Canadian judge has ruled that Prime Minister Justin Trudeau violated the country’s Charter of Rights and Freedoms when he banned truck drivers’ Bitcoin crowdfunding effort in 2022.
The Virginia State Senate has introduced legislation delineating regulations for mining and transactions of digital assets and their treatment under tax laws.
A team of United States lawmakers led by democratic representative Maxine Waters is putting pressure on Meta's upper management to open up about their plans regarding crypto and blockchain.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
