WAO ART #453

Hong Kong Bitcoin ETFs experienced their first outflows since their launch on April 30. The China Asset Management Bitcoin ETF saw an outflow of $4.9 million on Monday. Other Hong Kong-based Bitcoin and Ethereum ETFs reported no flows, except for the Bosera Ethereum ETF, which had an inflow of 3.2 million.

Bitcoin's price has surged recently due to increased institutional investment and growing acceptance of digital currencies. UK Treasury has flagged crypto as high-risk in its 2022-2023 report. Companies like Tesla and MicroStrategy have invested billions in Bitcoin, boosting its price and credibility.

Southern Brazil is facing severe flooding, causing widespread damage and displacing many people. Crypto exchanges like Okx and Bingx are stepping up to support the flood victims. Okx has partnered with Brazilian exchange Foxbit to match donations up to $10,000 for the emergency campaign.

Australian government pledges billions for housing programs ahead of budget. Funding commitments include A$9.3 billion for social housing and homelessness, A$1 billion for housing infrastructure, and A$1 billion for crisis housing.

Nigeria's currency, the naira, has become the world's worst performing currency in the past month. The currency had previously been ranked as one of the best-performing globally in April 2024. The reversal in the naira's gains has put pressure on the Central Bank of Nigeria to raise interest rates.

SEC opposes Coinbase's bid to appeal the ruling in the Ripple case. SEC sees the Ripple ruling as an exception and a poor precedent for similar actions. Judge Torres ruled that XRP is not a security, setting a legal precedent for Ripple's token sales.

JPMorgan, the largest bank in the US, announces it owns Bitcoin Spot ETF shares. The bank holds approximately $1 million worth of Bitcoin Spot ETF shares. This contradicts CEO Jamie Dimon's previous anti-Bitcoin statements.