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Crypto NFT Today: Week 2 of April
Welcome to another edition of Crypto-NFT today! The last two weeks have been full of unmissable events that will set the tone for the future of blockchain, cryptocurrency, and NFTs.
With Hong Kong likely to soon approve Spot Bitcoin ETFs, Bitcoin hitting $70,000 this week despite the nation’s struggle with inflation, and more, there’s a lot of essential news you should know. So, let’s dive in and see what’s going on!
Hong Kong to approve spot Bitcoin ETFs
According to Reuters, industry insiders familiar with the matter suggest that Hong Kong cryptocurrency regulators are set to greenlight the initial batch of applications for bitcoin Exchange Traded Funds (ETFs) next week. If approved, these products could potentially begin trading in April. This development could position Australia and Hong Kong as the leading jurisdictions in Asia to introduce spot bitcoin ETFs, while Singapore and the United Arab Emirates currently show no signs of similar initiatives.
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Hong Kong regulators have reportedly sped up the approval process. Notably, major players such as Harvest Global Investments and VSFG, in partnership with Value Partners, have filed applications with the Securities and Futures Commission (SFC) for a spot ETF, according to the CoinDesk report.
Bitcoin reached $70,000 despite US inflation
On April 10th, Bitcoin rebounded to $70,000, after falling in response to higher-than-expected US inflation data for March. At the start of the US trading session, BTC fell nearly 4% to $67,500 following a government report that indicated a faster rise in the consumer price index (CPI) than analysts had expected. This has led investors to adjust their expectations for potential rate cuts in the year ahead.
The decline affected various asset classes, including bitcoin, but the cryptocurrency it gradually recovered all its losses and even recorded an increase of 1% compared to the previous 24 hours. Bitcoin’s performance outpaced US stocks and gold, which both posted significant declines on the day. At the time of reporting, Bitcoin had retreated slightly from the $70,000 mark, trading at $69,800.
Today Uniswap Labs received a Wells Notice from the SEC
And we are ready to fight
This is the latest political effort to target even top crypto players like Uniswap and Coinbase
All Uniswap products and the Uniswap protocol are not affectedhttps://t.co/i2p5LubELk
— Uniswap Labs 🦄 (@Uniswap) April 10, 2024
Wells notices serve as advance warnings, alerting recipients to charges the regulator is considering making against them, often leading to enforcement action.
Uniswap receives notice from SEC
Decentralized cryptocurrency exchange Uniswap has revealed that it has received a notice from the US Securities and Exchange Commission (SEC) indicating its intention to take enforcement action. Following this announcement, Uniswap’s native token, UNI, suffered an immediate decline of 9.5%.
Dogecoin becomes more millionaire
In 2021, Dogemoneta has captured widespread attention on the Internet following remarks made by Elon Musk and a notable following on social media. Experiencing some of the most notable price increases in financial history, the token has risen more than 33,000% since its launch in 2013.
By comparison, during the peak of 2021, the maximum amount of DOGE held by a single portfolio exceeded 5 billion DOGE, or approximately $3.5 billion. Surprisingly, the owner of this portfolio has refrained from liquidating any DOGE stake, resulting in its current valuation exceeding $1 billion.