Nfts
Crypto NFT Today: Week 2 of May
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of unmissable events that will determine the future of blockchain, cryptocurrency and NFTs.
With President Biden blocking a Chinese bitcoin mine, Wells Fargo announcing new ETF investments, and much more, there’s plenty of essential news you should know. So let’s go ahead and see what happens!
President Biden blocks Chinese Bitcoin mine
On May 14, President Joe Biden issued a directive prohibiting a Chinese-backed cryptocurrency mining company to own land adjacent to a nuclear missile base in Wyoming, citing national security concerns.
The directive mandates the sale of property used as a cryptocurrency mining facility near Francis E. Warren Air Force Base. MineOne Partners Ltd., a company partly supported by Chinese investors, and its subsidiaries are tasked with dismantling specific equipment on site.
This action coincides with the United States’ plans to impose significant new tariffs on electric vehicles, semiconductorssolar equipment and medical supplies imported from China.
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Wells Fargo Announces ETF Investments
According to a regulatory disclosure, Wells Fargo & Company (WFC) revealed its involvement in cryptocurrencies by investing in several Bitcoin exchange-traded funds (ETFs). The move reflects a growing interest in digital assets within the financial sector.
The disclosure states that Wells Fargo acquired shares of Grayscale’s GBTC Bitcoin ETF, giving the bank approximately $141,817 worth of exposure to the digital currency. Additionally, Wells Fargo made a smaller investment of less than $1,200 in the ProShares Bitcoin Strategy ETF (BITO). This ETF allows investors to gain exposure to Bitcoin futures, allowing them to speculate on future price movements of the cryptocurrency.
Wisconsin Buys Blackrock Spot Bitcoin ETF
According to a fileThe US state of Wisconsin acquired 94,562 shares of iShares Bitcoin Trust (IBIT) from BlackRock in the first quarter, valued at almost $100 million.
Following this news, Bitcoin saw a 1% surge, currently trading at $61,957. However, it recorded a decline of 1.7% in the last 24 hours, which coincided with the release of new inflation data that beat expectations in the morning in the United States.
Wisconsin, which submitted its 13F quarterly report to the Securities and Exchange Commission (SEC) on Tuesday, becomes the first state to publicly disclose its investment in Bitcoin. Additionally, the state investment board purchased shares of Grayscale’s Bitcoin Trust (GBTC), valued at approximately $64 million.
OKX Australia launches
OKX, a cryptocurrency exchange, launched its services in Australia, offering spot and derivatives trading options to local users.
The move follows OKX establishing an office in Sydney in May last year and marks the latest expansion into international markets, joining previous entries in countries including Turkey and Singapore.
OKX’s expansion into Australia reflects growing interest in cryptocurrencies among Australians. Notably, the Australian Securities Exchange (ASX) is considering the potential introduction of Spot Bitcoin ETFs by the end of 2024.