Crypto News Highlights Today: Bitcoin ETF Race Nears Finish Line, Another Security Breach and More

Crypto News: From regulatory changes to market shifts, here are the top 10 stories that shaped the cryptocurrency market on January 4 for a quick overview.

Final Stage in Bitcoin ETF Decision

ARK21Shares joined applicants like VanEck, Fidelity, and Grayscale to file the ‘registration of securities’ 8-A form with the SEC on Thursday. Meanwhile, source-based reports expect a decision on the ETF race by tomorrow, with a high likelihood of SEC approval. 

Today, World Funds Trust also entered as a new contender in the race with six Bitcoin ETF filings.

Regulatory Scrutiny Over Crypto Scams

Australia’s consumer watchdog is under fire for not raising warnings against the potentially fraudulent HyperVerse crypto scheme. Meanwhile, in Taiwan, ACE founders were arrested for crypto fraud, with losses potentially exceeding millions. 

Coinbase’s New UK Investor Assessment

Coinbase has reportedly introduced a risk acknowledgment form for UK clients, aligning with upcoming FCA regulations. This move is designed to ensure informed trading decisions among users for high-risk investments.

Security Breach at Gamma Strategies

Another security breach hit the crypto market on Thursday, with Gamma Strategies, an Ethereum-based protocol, experiencing a reported loss of about $3.4 million. The protocol suspended all deposit activity following the breach and offered a bounty for the return of stolen assets. 

Ex-Citigroup Executives Launch Bitcoin Securities

Former Citigroup executives have announced Bitcoin depository receipts, similar to American depositary receipts, targeting global institutional investors, and bypassing U.S. SEC regulations.

Ark Invest’s Strategic Moves in the Market

Cathie Wood’s Ark Invest sold Coinbase shares worth over $25.3 million and purchased Tesla shares, reflecting a strategic shift in their investment portfolio.

Huobi Korea Ceases Crypto Exchange Services

Huobi Korea will terminate its local virtual asset trading services by January 29, continuing its support for customer asset withdrawals.

SEC Lawsuit Against Binance Moves

The SEC has filed a notice in its lawsuit against Binance, citing the Terraform Labs case as supplemental authority, which identified UST and LUNA as securities. This will impact the SEC’s lawsuit against Binance, Binance.US, and founder Changpeng ‘CZ’ Zhao. 

2023 Crypto Inflows Impressive

2023 saw significant growth in crypto investment products, with inflows totaling $2.25 billion, marking the third-largest year of inflow since 2017. The inflows notably exceeded those of 2023 by 2.7 times, as highlighted by CoinShares. 

U.S. Government’s Bitcoin Holdings

The U.S. government holds a significant Bitcoin stash, with its holdings valued at least $8.3 billion, outpacing corporate players like MicroStrategy. This figure comes after the government’s last-month seizure of 70,000 BTC.

Stay tuned here for more such crypto news highlights and updates in the quickly changing digital asset world.