The Block
Funds were moved from a wallet that has been holding onto one set of bitcoin mining rewards for nearly 14 years today. Some of the bitcoin was sent to a wallet that has interacted with crypto exchange Coinbase.
Quick Take Hong Kong gave in-principle approvals to several spot Bitcoin and Ethereum ETFs on Monday. Bitcoin and ether prices have returned to green after a decline over the weekend.
Hong Kong approved several spot bitcoin ETFs and spot ether ETFs managed by China Asset Management, Bosera and HashKey on Monday. The asset managers did not disclose the timeline of the launch.
Quick Take An IRS investigation chief said that there is a growing number of “pure” tax evasion crimes related to cryptocurrencies. The IRS is working with firms from the private sector to trace tax delinquents using crypto.
Quick Take The volume of loans liquidated on Ethereum lending markets has hit its highest monthly value since June 2022, despite April not even being half over. Flash crashes from the past few days have likely exacerbated the level of loan liquidations.
Quick Take Two sports and crypto partnerships were announced this weekend: the investment of $4.5 million worth of Bitcoin in Peter McCormack’s football club Real Bedford FC by the Winklevoss Twins and the integration of VeChain blockchain technology with UFC gloves.
Crypto prices have recovered some of the losses from yesterday’s steep selloff following news of an Iranian attack against Israel.The recovery has sent Bitcoin dominance, or the market share of Bitcoin compared to all other cryptocurrencies, to its highest value in over three years.
This is the fourth edition of a weekly column by The Block’s editor-in-chief on current events in the crypto space and other musings. Today’s topics include airdrops, the SEC going after Uniswap, upcoming Bitcoin ETFs in Hong Kong and the Halving.
Recent news of an impending attack by Iran against Israel has led to a significant selloff in Bitcoin and other cryptocurrencies.
Ethereum developers have set EIP-3074, which brings smart contract-like functionality to wallets, for inclusion in Ethereum’s next upgrade, nicknamed Pectra. However, crypto traders have raised security risks around the proposal, which could enable a malicious agent to drain a wallet’s entire contents through a single transaction.
