Major cryptocurrency trading platform Crypto.com accidentally sent a woman $10.5 million instead of the $100 refund she requested – and didn’t notice until seven months later. Now the platform is trying to recover its money, $1.35 million of which the woman, Thevamanogari Manivel, used to buy her sister a home in the Melbourne suburb of Craigieburn. The… Read more »
The architect of the Senate report into regulating Australia’s cryptocurrency sector, released nearly a year ago, says the new Labor government needs to get on with introducing legislation rather than once again reviewing existing reviews into the issue. Liberal senator Andrew Bragg coauthored a landmark Senate Select Committee report into digital asset regulation last year,… Read more »
The Albanese government is looking to map out Australia’s cryptocurrency landscape, taking a slower approach to digital asset regulation and reform than the former Morrison government. In a joint announcement on Monday by federal treasurer Jim Chalmers, Assistant Treasurer Stephen Jones and competition, charities and treasury assistant minister Dr Andrew Leigh, they said “the first step… Read more »
In what promises to be the hottest currency issued by the Reserve Bank of Australia (RBA) since 1981’s Charles and Diana 50 cent wedding coins, the RBA will launch a pilot central bank digital currency (CBDC) as part of a research project to assess use cases and potential economic benefits. The RBA is collaborating with… Read more »
Telstra’s VC arm, Telstra Ventures, has taken a deep dive into web3 and blockchain world amid the crypto crash that’s wiped $1.3 trillion in value from investors, with the market down 60% since January, to see who’s survived and thrived. The 12-page report, titled Blockchain Open-Source Developers Signal Strength of Web3 Community, shows that web3-developer… Read more »
Cryptocurrencies account for less than 1% of the investment portfolio of high-net worth (HNW) people in Asia-Pacific, despite considerable holdings in alternative assets. New figures from data and analytics company GlobalData found that alt investments account for 12% of the average HNW APAC investor’s portfolio, but after interest in crypto peaked in 2020, they offloaded… Read more »
Local fintech Cointree has found its new CEO internally, handing the role to Jess Renden at the crypto exchange heads towards 10 years in business. Renden signed on with Cointree five years ago after a career at software firm BGL. She takes over from founder Shane Stevenson after eight years heading up the company he… Read more »
Finder conducts a quarterly survey of 53 crypto experts They predict bitcoin will end 2022 at US$25,473 10% say its time to sell out, 50% buy 70% think ‘winter’ will continue until at least 2023 Interest rates and the Terra collapse are to blame. Australian cryptocurrency experts have cut their predictions on the value of… Read more »
The dream that decentralised finance – or “DeFi” – can free the monetary system from the clutches of governments and banks has helped launch 20,000 cryptocurrencies. But with 2022 proving to be more of a crypto-nightmare – including for the vaunted “stablecoins” that held the most promise as rivals to central bank-issued currencies – questions… Read more »
Melbourne cryptocurrency startup Banxa is shedding 30% of its staff amid the current digital assets crash and a plunging share price. The fintech, founded in 2014 and listed in Canada on the Toronto Stock Exchange’s Venture Exchange in January 2021 (TSXV:BNXA). Banxa claims to be “one of the fastest growing fiat (cash) to Web3 solutions… Read more »
If you spend any time among the cryptocurrency community you’ll come across the mantra “HODL”. Originally a typo for “hold” on a Bitcoin forum, it has become all-purpose advice to anyone looking at the day’s price fluctuations and thinking of selling their assets. To HODL is to trust the process and keep your eyes on… Read more »
The new federal financial services minister Stephen Jones says the Labor government will regulate cryptocurrency exchanges, as well as applying credit laws to the buy now, pay later (BNPL) sector. Speaking to the Guardian Australia, Jones vowed to continue the roadmap drawn up by the previous government and former treasurer Josh Frydenberg, consulting with the… Read more »
Consumer group CHOICE is calling on the federal government to ramp up protections for mum and dad investors amid research that a fifth of all Australians are interested or have invested in cryptocurrency, with 12% – 1 in 9 – buying digital coins in the last 12 months. A CHOICE revealed that a majority of… Read more »
Well before bitcoin’s coronation as an alternative asset class or getting the attention of institutional and celebrity investors, it lived in swamps and deserts. It was only an experiment between cypherpunks & cryptographers without any market value or any real world applications. On May 18, 2010 – after 14 months from Bitcoin genesis block –… Read more »
Over the course of a few days last week, we saw what was perhaps the most dramatic flame-out in the history of cryptocurrencies. Just a few weeks earlier, Terraform Labs the creators of the TerraUSD and Luna cryptocurrencies, was riding high. Luna was valued at US$86 per token on 5 May – down from the… Read more »
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