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Australian Bank CEO Apologizes for Freezing Customer Funds Over Bitcoin Transfer Westpac CEO Anthony Miller issued an apology to a customer named Tim for blocking a $30,000 transfer to CoinSpot, an Australian crypto exchange, and freezing his accounts. Tim had deposited $50,000 into his Westpac account and tried to transfer some funds to invest in Bitcoin. The transaction was stopped, leading to a conversation with Westpac's risk management team, which Tim recorded and shared on Sydney's 2GB radio. The staff member questioned Tim's intentions, causing a delay that made Tim miss out on potential gains from Bitcoin's price increase. This incident highlights concerns about debanking and new crypto licensing reforms in Australia. Despite a voicemail mishap, Westpac's CEO acknowledged mishandling the situation and the need for better communication. Tim has since switched banks, and Westpac has yet to comment on the issue.$BTC #RiskRewardRatio
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Exclusion of NFT Marketplaces from SEC Regulation Non-fungible token marketplace OpenSea has requested the US Securities and Exchange Commission to exempt NFT marketplaces from federal securities laws regulation. OpenSea's legal team, in a letter to Commissioner Hester Peirce, emphasized that NFT marketplaces like OpenSea do not meet the criteria to be classified as exchanges under US securities laws. They urged the SEC to provide clear guidance to eliminate uncertainty and support US technology companies in the NFT space. Additionally, they called for informal guidance on NFT marketplaces and requested exemption from broker registration requirements. The SEC's recent statements on stablecoins and memecoins were referenced to support their argument. OpenSea's plea for regulatory clarity comes amidst the SEC's evolving stance on crypto regulations under the current administration. The legal team aims to address industry confusion and ensure a conducive regulatory environment for NFT marketplaces like OpenSea.$ETH #DiversifyYourAssets
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Bearish Cloud Over Ethereum, Can It Break Through? The crypto market continues to remain under the control of the mighty bears. Major assets had begun to recover but have since lost their recent gains. Following the suit, the largest altcoin, Ethereum (ETH), has posted a notable 4.92% loss. The bearish zone of ETH seems strong enough to resist the emergence of bulls. The asset opened the day trading at around a peak of $1,624. Later, the bears arrived and pulled the price back toward $1,474. At the time of writing, Ethereum traded within the $1,543 range, with the daily trading volume reaching $20.87 billion. Furthermore, the market has observed a liquidation of $89.34 million worth of Ethereum as per Coinglass data. Notably, a newly created wallet accumulated 9,610 ETH worth $14.54 million. Initially, the wallet withdrew a total of 5,000 ETH from Kraken, used it as collateral on Spark to borrow $7 million in USDS. Later purchased an additional 4,610 ETH at an average price of $1,518. When Will ETH Bulls Wake Up? Ethereum’s active downtrend continues, with the price likely to retrace toward the support range of $1,493. The reinforced bears could extend the loss, pushing the asset for more downside correction to $1.3K or even lower. Assuming a wake of bulls that trigger an upside move, the price might climb to $1,596. Breaking this level could support the bullish wave and send Ethereum to the $1,642 range. The asset may continue to recover. $ETH #BinanceAlphaAlert
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