Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds. The ASX has received applications from at least two organizations, and there’s another one in the pipeline Australia Braces...Read More
Following the Securities and Exchange Commission’s (SEC) approval of the first eleven spot Bitcoin Exchange Traded Funds (ETFs) in the United States last month, Australian retail interest in Bitcoin has experienced a surge. The development has grabbed Australian investors’ attention, with 34% acknowledging awareness of the news. This has increased confidence in Bitcoin, with 25%...Read More
A doctored clip of Australian mining magnate and businessman Andrew “Twiggy” Forrest on Facebook represents the newest addition to a series of deepfakes hijacking images of figures in deceptive advertisements, eroding trust in the media. Cybersecurity firm Cybertrace flagged the video Forrest, which appears to be promoting a fake crypto trading platform. Deepfake Deception The...Read More
C1 Fund – established by a team of former Coinbase legal professionals and investors – has engaged in discussions with numerous local venture firms, explicitly proposing the purchase of private holdings from investors at a discounted rate ranging between 50% and 80% of their most recent valuation. The development comes as the crypto sector has...Read More
Australian cryptocurrency exchange CoinSpot may have fallen victim to an exploit resulting in the loss of approximately $2 million worth of Ethereum (ETH). Blockchain investigator ZachXBT shed light on the incident through his Telegram channel, raising concerns about the security of the exchange’s hot wallets. ZachXBT Unveils $2 Million CoinSpot Exploit On Nov. 8, ZachXBT...Read More
The Australian Federal Police (AFP) has uncovered a money laundering syndicate, named the Long River syndicate, which is alleged to have utilized the Changjiang Currency Exchange as a front for laundering around $229 million in illicit funds over the past three years. As part of Operation Avarus-Nightwolf, a series of targeted raids were executed, confiscating...Read More
South Australian police have arrested an individual charged with drug trafficking and money laundering involving crypto on the dark web. The police seized cash, illicit drugs, electronic devices, and cryptocurrency worth $1.5 million belonging to the accused individual. Drug Trafficker Supposedly Received Payment in Crypto An investigation carried out by the South Australian police, which...Read More
Ripple Labs, the fintech company behind the popular payments protocol, has expanded its liquidity hub to new regions as the platform continues to meet the crypto demands of customers. In a blog post, Ripple’s head of liquidity products, Brad Chase, revealed that the company has opened up the liquidity hub for customers in Brazil and...Read More
The Australian Securities and Investment Commission (ASIC) has sentenced Melbourne-based cryptocurrency lending firm Helio for falsely claiming it held an Australian credit license (ACL) in August 2019. According to an official release from the ASIC, Helio was sentenced to a non-conviction bond and entered into a recognizance of A$15,000 ($9,600) for 12 months on the...Read More
The Australian Securities and Investments Commission (ASIC) filed a lawsuit against the trading platform eToro, alleging that its contract for difference (CFD) product could harm investors. That type of monetary tool is a leveraged derivative contract that enables customers to speculate on the prices of equities, commodities, stock market indices, and digital assets. The platform...Read More
The Australian Securities and Investments Commission (ASIC) announced the cancellation of the AFS license of bankrupt crypto exchange FTX’s Australian entity, effective from July 14. The Australian arm had once boasted 30,000 retail clients and serviced 132 domestic companies. FTX Australia will be able to provide limited financial services while winding up its client interactions...Read More
Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam...Read More
On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms. As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on Binance Australia, about A$7,516 ($4,913) lower than the...Read More
Australian big four bank Westpac has banned its customers from transacting with Binance, as part of a suite of scam protection measures. The development comes amidst mounting pressure on the crypto giant’s operations in the country. In a statement, Westpac revealed that it was blocking a number of cryptocurrency exchanges as part of a trial....Read More
A research conducted by Melbourne’s RMIT University estimated that Australian criminals who have employed cryptocurrencies, such as bitcoin, in their schemes had received harsher sentences than those who used fiat. The study outlined the role of digital assets on the Dark Web, claiming they are among the main payment methods supported there. Less Mercy to...Read More
Binance has announced closing the Binance Australia Derivatives business citing the recent engagement with the Australian Securities and Investments Commission (ASIC). The agency, on the other hand, maintained that the cancellation does not affect the requirement for Binance to continue as a member of the Australian Financial Complaints Authority until the end of April 8,...Read More
Jatinder Singh, the 37-year-old partner of Thevamanogari Manivel, a Melbourne woman who mistakenly received $10.5 million instead of a $100 refund from digital asset exchange Crypto.com, has been granted bail by the Victorian County Court. Although Senior Constable Conor Healy argued that roughly $7 million had been recovered and Singh could flee with the outstanding...Read More
The Australian Treasury will most likely delay enforcing new cryptocurrency rules for the middle of 2024 or even 2025. The local government was expected to impose rules by the end of 2022. Some expected the authorities would rush to do so this year, especially after the multiple collapses and investor losses that undermined the sector...Read More
Major Australian gaming firm Immutable slashed 11% of the company’s headcount, stating that the job cut happened in order to ensure cash reserves last for a long time. This is the second time Immutable is reducing its workers after the firm axed the number of its employees in July 2022. Immutable Incurred Losses Worth $56...Read More
A recent document filed with the United States Bankruptcy Court for the District of Delaware revealed that FTX’s creditors consist of over 9.7 million companies and individuals. Some of the most famous entities include the likes of Apple, Amazon, Google, Meta, Netflix, Microsoft, and more. Who Got Burned? One of the darkest moments in crypto’s...Read More
Several countries have been planning to explore stablecoins despite the initial reluctance and more recent implosion of Terra. The latest one to jump on the bandwagon is one of Australia’s four largest financial institutions – National Australia Bank (NAB). The new Australian dollar-pegged stablecoin created by NAB, dubbed AUDN, is set to be launched on...Read More
The Aussie cryptocurrency exchange – Swyftx – and the investment platform – Superhero – have reportedly abandoned the previously planned $1 billion merger deal. Some of the main reasons are the enhanced control over crypto firms in Australia and the diminishing interest in digital assets following the spectacular collapse of FTX. Swyftx Takes Another Punch...Read More
The Australian cryptocurrency platform Swyftx laid off 90 of its employees, representing around 40% of its total workforce. CEO Alex Harper assured the company is “well-positioned” to cope with the current turbulence caused by the FTX meltdown. However, he expects another market plunge during the first half of 2023, hence the amendments. The Next Victim...Read More
According to a study conducted by Independent Reserve, more than 25% of Aussies are crypto HODLers. Bitcoin remains the most recognizable digital currency, as 90.8% of the participants admitted being aware of its existence. The Latest Figures in Australia The share of Aussies that own crypto assets has slightly shrunk compared to the figures from...Read More
Arkon Energy – an Australian-based bitcoin mining firm – raised $28 million and acquired Hydrokraft AS (a Norwegian energy-based data center). These will double down on the companyr’s green strategy and aim to increase its mining capacity. Distressed Cycles Could Produce Winners According to a recent document seen by CryptoPotato, the Hydrokraft AS purchase was...Read More
The Australian Securities & Investments Commission (ASIC) suspended the FTX Australia license until May 15, 2023, following the exchange’s recent fiasco. The crash has affected around 30,000 Aussie consumers who are exploring how to retrieve their funds. The Latest Strike on FTX Despite the termination of its license, FTX’s Australian subsidiary will be able to...Read More
Australia’s inflation hit 7.3%, which is the highest rate in 32 years. Considering the soaring prices of real estate and gas, analysts expect this figure to surge even more before the year’s end. To preserve their wealth during these turbulent times, locals have displayed increased interest in alternative financial assets, including cryptocurrencies. The Aussie government...Read More
The US-based cryptocurrency exchange – Coinbase – announced it will strengthen its presence in Australia, allowing locals an “easier and safer” option to enter the digital asset industry. The company described “The Land Down Under” as a “hotbed of fintech innovation.” More Crypto Options for Aussies In a recent announcement, Nana Murugesan – Managing Director...Read More
The Reserve Bank (the central banking institution of Australia) collaborated with the Digital Finance Cooperative Research Centre (DFCRC) to unveil a technical White Paper on its future CBDC. The organization is expected to complete the pilot version of the financial product by the middle of 2023. Australia joined the list of countries, racing to issue...Read More
Blockchain Australia – an industry body representing Aussie businesses and individuals participating in the crypto industry – announced the appointment of Laura Mercurio as its next Chief Executive Officer. She has a rich experience in the financial field, working previously for BlackRock, Deutsche Bank, and Citigroup. Recently, numerous other individuals who were part of monetary...Read More
