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
The American streaming service giant – Netflix – is reportedly looking to launch a new advertising tier. Initially, the feature will be available in Australia and should go live before the year’s end. However, the company might not support some marketing campaigns with political, gambling, and cryptocurrency content. According to a report by The Sydney...Read More
The Australian Federal Police – an independent agency responsible for investigating crime and protecting the country’s national security – reportedly formed a new cryptocurrency unit. The goal is to detect criminals who use digital assets in their activities, such as money launderers, and bring them to justice. Applying strict regulations on the digital asset sector...Read More
The government of Australia reportedly plans to identify which cryptocurrencies are widely used in the country and place them under a regulatory framework by the end of 2022. Numerous Australian politicians have hinted about a possible crypto regulatory plan over the past few years. Earlier in2022, the Labor Party won the elections, while its leader...Read More
Digital asset manager Monochrome has received regulatory approval from the Australian securities watchdog to offer spot crypto exchange-traded funds (ETFs). According to an official announcement, Monochrome is one of the first asset management firms to secure an Australian financial services license (AFSL) from the Australian Securities & Investments Commission (ASIC) for crypto-related ETFs. Monochrome Bitcoin...Read More
The Aussie financial regulators reportedly greenlighted one of the leading cryptocurrency platforms – Huobi Group – to register as a digital currency exchange provider in the country. This is the company’s latest expansion step and first in Australia. Founded in China, Huobi had to move its operations abroad due to the adverse stance against the...Read More
Digital asset venture capital firm, Holon Global Investments, has launched three new crypto funds – Bitcoin (BTC), Ethereum (ETH), and Filecoin (FIL) in partnership with Gemini. These are Australia’s first unlisted retail funds which would provide passive exposure to the spot prices of the three crypto-assets. Moreover, the Holon Filecoin Fund happens to be the...Read More
3iQ Digital Asset Management has launched Bitcoin and Ether Feeder ETFs in Australia. Listed on Cboe Australia on June 6, these funds will invest in Canadian-domiciled 3iQ CoinShares Bitcoin ETF and 3iQ CoinShares Ether ETF. Exposure to BTC, ETH Investments These ETF products are aimed at providing Australian investors with an opportunity to leverage potential...Read More
Tom Tate, the Mayor of Gold Coast metropolitan, has suggested that Australians could pay their council rates, otherwise known as local property taxes, in cryptocurrency. “Why can’t we pay rates on cryptocurrency if the risk is not high?” he said. He also noted that the council will recruit a chief investment officer tasked with promoting...Read More
Commonwealth Bank (CommBank), the largest bank in Australia, has reportedly suspended its planned in-app cryptocurrency trading pilot without setting a new timeframe for when it would resume the service. CommBank Pauses Crypto Services at Pilot Phase According to the Guardian Australia, on Thursday (May 19, 2022), Matt Comyn, the chief executive officer of the Commonwealth...Read More
The Australian Taxation Office (ATO) announced Monday that it will focus on digital assets this year as it expects to see more Aussies report capital gains or losses in their tax returns. Aussies Are Engaging With Crypto The tax regulator treats crypto assets as digital property, hence Aussies who sell their digital assets, including non-fungible...Read More
The Switzerland-based investment product issuer – 21Shares – joined forces with ETF Securities to launch the first two exchange-traded funds in Australia that will provide customers with direct access to cryptocurrencies. Those products will track the performance of BTC, and ETH will go live on April 27. Crypto EFTs Popping out in Australia While the...Read More
The blockchain gaming platform Animoca Brands reportedly purchased the Aussie digital agency – Be Media. The latter will become the Australian marketing arm of Animoca, which plans to double down on its NFT and Metaverse endeavors. Animoca Bought Be Media The Hong Kong-based blockchain entity continues to spread its presence globally. According to a recent...Read More
While the US watchdogs continue to reject BTC spot ETF applications, Australia has reportedly taken the Canadian route and will list its first-ever exchange-traded fund on the Cboe equities trading platform as early as next week. The local report dated April 19 reads that Australia’s main equity capital market regulator – ASX Clear – has...Read More
Australia’s financial regulators have yet to approve plans by the Commonwealth Bank of Australia (CBA) to offer access to crypto products for its over 6.5 million customers. The regulatory watchdog says the onus is on the CBA to comply with laid-down rules and regulations for financial products. Opposition from the regulator has prevented the CBA...Read More
Bengal Energy – a Canadian-based oil and gas company – will reportedly deploy energy from “stranded” gas wells into bitcoin mining operations. The firm also intends to set up 70 BTC mining rigs inside a portable building (known as “donga”) near the Cooper Basin. Bengal Energy Jumps Into BTC Mining Cryptocurrency mining has been a...Read More
Sophie Gilder – Head of Blockchain and Digital Assets at Commonwealth Bank of Australia (CBA) – revealed that the financial institution could start offering more cryptocurrency services to clients. She further disclosed that the organization seeks to double the size of its blockchain team in the months to come. ‘Crypto is Here to Stay’ Australia...Read More
The cryptocurrency exchange – FTX – has established an Australian branch called FTX Australia Pty Ltd. The Aussie arm of the trading venue will offer OTC digital asset products and services, as well as derivatives. FTX Sets up a Division in Australia According to a recent press release, the new subsidiary of the exchange will...Read More
The Australian Competition and Consumer Commission (ACCC) instituted Federal Court proceedings against Meta Platforms (formerly Facebook) for featuring misleading and deceptive cryptocurrency advertisements. The watchdog informed that one of the victims lost nearly $500,000 due to the fraud. The ACCC vs. Meta The Australian regulator vowed to sue Meta for promoting fraudulent investment and money-making...Read More
