El Salvador Buys Bitcoin Dip Again, WisdomTree Launches 3 Crypto ETPs + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Investments news
- Digital asset investment products saw inflows totaling USD 306m last week, doubling from a week earlier, per CoinShares data. Bitcoin (BTC) saw the largest inflows in 5 weeks totaling USD 247m (compared with USD 114m a week earlier) following the launch of another investment product in Europe, they added. Ethereum (ETH) saw inflows totaling USD 23m last week, compared with around USD 13m a week earlier.
- The government of El Salvador increased their BTC stash by BTC 100, President Bukele tweeted this past weekend. At the time of his writing, BTC traded at around USD 53,300.
- WisdomTree, the exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor, has expanded its digital assets product range with the launch of three new physically-backed cryptocurrency basket ETPs. The products, called the WisdomTree Crypto Market (BLOC), WisdomTree Crypto Altcoins (WALT) and WisdomTree Crypto Mega Cap Equal Weight (MEGA) ETPs, are listed on Swiss exchange SIX.
Adoption news
- The Tourism Authority of Thailand (TAT) is working with regulators and a local crypto exchange to make it easier for crypto holders to spend their digital assets in the country, Bloomberg reported. The TAT Governor Yuthasak Supasorn is cited as saying that the authority will set up a new unit to issue its own cryptocurrency, develop a wallet, and build a new tourism ecosystem.
- The owner of 52m (170 ft) superyacht VIANNE, a motor yacht equipped with a helipad and sky deck Jacuzzi, has confirmed that for its sale, following a payment of 10% fiat (EUR/USD) deposit, the balance payment for the sale can be paid in any major cryptocurrency and in any top tier NFT. VIANNE is selling for EUR 8.9m (USD 10m), per the press release.
CBDCs news
- Israel’s central bank is accelerating its study, research, and preparation for the possible issuance of a digital shekel aimed at creating a more efficient payments system, Reuters reported, citing the Bank of Israel Governor Amir Yaron.
Regulation news
- India has no proposal to recognize bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman said, per local outlet LiveMint. She has also added that the government does not collect data on bitcoin transactions.
- The Board of Control for Cricket (BCCI) in India has banned Indian Premier League teams from engaging in sponsorship deals with crypto exchanges, The Economic Times reported. An anonymous franchisee has called this “a major opportunity loss” as they had already been in talks with a crypto platform beforehand.
Exchanges news
- Indian crypto exchange CoinDCX intends to pursue an initial public offering (IPO) as soon as government regulations allow it, co-founder Neeraj Khandelwal told Bloomberg. The IPO would give legitimacy to the industry, he said, adding that they want to instill confidence with the exchange’s public listing.
- Singapore-based crypto exchange Coinstore has begun operations in India, opening its web and app platform and planning branches in Bangalore, New Delhi, and Mumbai, as the country prepares to effectively bar most private cryptocurrencies, per Reuters. Charles Tan, head of marketing at Coinstore, said that they are “optimistic” that the Indian government will come out with a healthy framework for cryptocurrencies.
- SK Square, a non-telecoms investment subsidiary of South Korea’s major wireless carrier SK Telecom, has invested KRW 90bn (USD 75m) in crypto exchange platform Korbit, per Korea JoongAng Daily. Following the investment, SK Square now owns a 35% stake in Korbit, which puts it as the crypto exchange’s second-largest shareholder behind South Korean investment giant NXC.
Legal news
- Crypto lending firm Celsius Network (CEL) has said that it has suspended an “employee” amid reports of its Chief Financial Officer Yaron Shalem’s arrest in Israel as part of a case, which also includes a major crypto figure, Sirin Labs founder Moshe Hogeg. The lender has stated that this is “in no way related to the employee’s time or work at [Celsius]” but that they have verified that no assets were misplaced or mishandled.
Security news
- Hacked Google Cloud accounts were used by 86% of the “malicious actors” to mine cryptocurrencies, according to a report by Google’s Cybersecurity Action Team, while the remainder of the hacking activities included phishing scams and ransomware. Malicious actors gained access to the Google Cloud instances by taking advantage of poor customer security practices or vulnerable third-party software in nearly 75% of all cases, the report added.
NFTs news
- AMC Theatres and Sony Pictures announced a joint promotion to distribute 86,000 exclusive non-fungible tokens (NFTs) to qualified customers who reserve or purchase an advanced ticket for opening-day of Spider-Man: No Way Home.
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(Updated at 17:19 UTC with a report from CoinShares.)
