The Block

U.S. spot bitcoin ETFs reached a record net inflow of more than $673 million on Wednesday as the price of bitcoin soared to a high of $64,000.Daily volume also reached the highest levels since the ETFs launched — generating over $7.6 billion in trading yesterday.

The bitcoin price has held above the $62,000 mark in the past 24 hours.The latest rally has impacted short positions, with over $169 million in bitcoin shorts liquidated.

Quick Take The Australian Securities and Investments Commission secured travel restraint orders against Liang Guo. Guo and others are currently under investigation by ASIC following the collapse of ACX Exchange.

Quick Take Stablecoin protocol Seneca suffered an exploit, resulting in a loss of more than $6 million. The exploit was traced back to a flaw in the protocol’s smart contract approval mechanisms.

Quick Take The SEC claimed that Terraform Labs paid a “suspicious” amount to its lawyers to avoid paying potential judgment as a result of the enforcement action.

Quick Take: Paul Chan, Hong Kong’s financial secretary, said in his budget speech that the government will expand the e-CNY pilot scope. The Hong Kong government will also commence the second phase of its CBDC, the e-HKD.

Quick Take Anduro aims to expand the ecosystem through the creation of multiple community-led Bitcoin sidechains.

Quick Take: Arkham Intelligence data showed that two wallets containing the seized funds made multiple transfers to unidentified addresses on Wednesday.

The country’s ruling right-wing party has “indefinitely postponed” plans to push out election promises aimed at easing local crypto restrictions, according to a local media report.

Quick Take The Sierra Club laid out its concerns in an amicus brief filed on Wednesday in support of a survey that would collect data from crypto mining firms. The grassroots environmental organization pushed back against crypto mining companies and pointed to the exorbitant amount of energy crypto mining operations use.