Spot Bitcoin, Ether ETFs Get Official Approval in Hong Kong; ‘Potential Fee War’ Unfolding, Says Analyst
One of the issuers waived management fees for the first six months, undercutting rival offerings.Source
Tether’s Stablecoin Dominance May Wane Following Proposed U.S. Rules: S&P
The new regulations could offer banks a competitive edge by limiting institutions without a banking license to a maximum stablecoin issuance of $10 billion, the report said.Source
Jack Dorsey’s Block Is Building a Bitcoin Mining System
The firm also completed the development of its three-nanometer mining chip, which it had been working on since April 2023.Source
Some Square Users Can Now Convert Their Dollars to Bitcoin Via Cash App
Bitcoin Conversions will charge a flat 1% fee to automatically convert a portion of merchant revenues into BTC.Source
Jailed Binance Exec’s Bail Hearing in Nigeria Postponed Until May 17
Detained Binance executive Tigran Gambaryan will remain in prison in Nigeria until at least May 17, following an Abuja court’s ruling to postpone a scheduled bail hearing until after he is tried on money laundering charges.Source
Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court
The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and co-founder Do Kwon for their role in the $40 billion implosion of the Terra ecosystem in 2022.Source
Mt. Gox’s Looming $9B Payout Could Weigh on Bitcoin Prices, K33 Research Warns
The defunct crypto exchange will distribute 142,000 BTC and 143,000 BCH to creditors later this year, 10 years after its implosion due to a hack.Source
Ether ETFs Are Unlikely to Be Approved in May: Standard Chartered
The bank reiterated its year-end bitcoin and ether targets of $150,000 and $8,000, respectively.Source
Crypto Lobbyists Sue SEC Over ‘Dealer’ Definition
A U.S. Securities and Exchange Commission rule expanding the definition of a “dealer” to capture digital assets activity went too far, a lawsuit by the Blockchain Association and Crypto Freedom Alliance of Texas alleged.Source
Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says
Crypto-focused stocks also bounced higher, led by bitcoin miners Riot Platforms and Hut 8.Source