SBI Holdings announced plans to launch Japan’s first cryptocurrency ETFs, including a Bitcoin/XRP fund and a hybrid fund with 51% gold and 49% crypto allocations. The company is expanding into stablecoins, particularly JPY-backed versions, to strengthen the Japanese Yen’s stability and creditworthiness. SBI expects significant future gains from its 9%Continue Reading
Bitwise CIO Matt Hougan praised Project Crypto as a long-awaited roadmap for the crypto industry. Hougan highlighted Layer 1 blockchains as essential infrastructure for tokenisation, fintech super-apps and DeFi platforms as the three key investment areas. Regulatory alignment and infrastructure maturity are converging to create “a generational opportunity” not yetContinue Reading
After briefly soaring to a peak of $123k USD ($189k AUD) in July, Bitcoin has slid back by around 7-8%, now stabilising between $113k and $115k USD. A Glassnode analysis suggests Bitcoin is encountering a tough barrier near $116k USD, where several recent investors are sitting at a loss. RecentContinue Reading
Roman Storm, a co-founder of the crypto mixer Tornado Cash, was convicted in a Manhattan court of conspiracy to operate an unlicensed money transmitting business. The jury remained deadlocked on more serious charges of conspiracy to commit money laundering and violate US sanctions, so there was no verdict on thoseContinue Reading
Bitcoin advocates have met with Indonesian officials, including Vice President Gibran Rakabuming Raka, to propose creating a national Bitcoin reserve. The proposal suggests using Bitcoin mining as a sovereign strategy to promote long-term economic stability by leveraging the country’s abundant geothermal and hydroelectric energy. The presentation emphasised the need forContinue Reading
Binance co-founder Changpeng Zhao (CZ) is seeking to dismiss a US$1.76 billion lawsuit from the FTX bankruptcy trust. His legal team argues that US courts lack jurisdiction over him because he is a resident of the United Arab Emirates and the transactions in question were between offshore firms. The lawsuit,Continue Reading
The SEC issued new guidance stating that liquid staking, in some forms, does not qualify as a securities transaction. Commissioner Hester Peirce backed the view, likening liquid staking to depositing assets in exchange for ownership receipts. Meanwhile, Commissioner Caroline Crenshaw criticised the guidance as legally unfounded and detached from reality.Continue Reading
EIP-7999 proposes a single, fungible max fee to cover multiple Ethereum transaction resources. The upgrade could further improve cost-efficiency and maintain Ethereum’s competitive edge. It would build on past improvements like EIP-7706 and gas normalisation research. Ethereum co-founder Vitalik Buterin and developer Anders Elowsson have introduced a new proposal, EIP-7999,Continue Reading
Brazil’s Chamber of Deputies will hold a hearing on 20 August to deliberate on creating a national Bitcoin reserve through bill 4501/2024. A 2024 proposal suggested allocating 5% of Brazil’s US$330 billion reserves to Bitcoin, which would equate to approximately US$16.5 billion in BTC. Brazil leads South American crypto adoptionContinue Reading
Galaxy Digital CEO Mike Novogratz believes the trend of companies adding Bitcoin to their treasury reserves has reached its peak with fewer new entrants expected. The firm recently executed one of the largest Bitcoin sales in history, selling 80,000 BTC on behalf of an anonymous client to institutional buyers. Meanwhile,Continue Reading
