Today’s Crypto NFT: 2nd week of May

Welcome to another edition of Crypto NFT today! The past two weeks have been filled with must-know events that define the future of blockchain, cryptocurrencies, and NFTs.

There's a lot of important news to know, including President Biden blocking Chinese Bitcoin mining and Wells Fargo announcing new investments in ETFs. So let's see what's going on!

President Biden blocks Chinese Bitcoin mining

On May 14, President Joe Biden issued a directive banning Chinese-backed cryptocurrency mining companies from owning land adjacent to a nuclear missile base in Wyoming, citing national security concerns. .

The order mandates the sale of real estate used as a cryptocurrency mining facility near Francis E. Warren Air Force Base. MineOne Partners Ltd., a company partially backed by Chinese investors, and its subsidiaries have been instructed to dismantle certain equipment on the premises.

The move coincides with U.S. plans to impose significant new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China.

Trends Are you acting wisely in the age of facial recognition? Wells Fargo announces investment in ETF

Wells Fargo & Company (WFC) has disclosed its involvement in cryptocurrencies by investing in multiple Bitcoin exchange-traded funds (ETFs), according to regulatory disclosures. This move reflects the growing interest in digital assets in the financial sector.

The disclosure shows that Wells Fargo acquired a stake in Grayscale's GBTC Bitcoin ETF, giving the bank approximately $141,817 worth of exposure to the digital currency. Additionally, Wells Fargo made a small investment of less than $1,200 in the ProShares Bitcoin Strategy ETF (BITO). This ETF allows investors to gain exposure to Bitcoin futures contracts and speculate on future price movements of the cryptocurrency.

Wisconsin purchases BlackRock Spot Bitcoin ETF

The US state of Wisconsin acquired 94,562 shares of BlackRock's iShares Bitcoin Trust (IBIT) worth about $100 million in the first quarter, according to filings.

Bitcoin rose 1% on the news and is currently trading at $61,957. However, the index fell 1.7% in the past 24 hours, coinciding with the release of new, better-than-expected inflation data in the US this morning.

Wisconsin, which filed its quarterly 13F report with the Securities and Exchange Commission (SEC) on Tuesday, becomes the first state to publicly disclose its Bitcoin investments. Additionally, the state's investment commission purchased approximately $64 million worth of Grayscale Bitcoin Trust (GBTC) stock.

OKX Australia launched

Cryptocurrency exchange OKX has launched in Australia, offering spot and derivatives trading options to local users.

The move follows OKX's establishment of a Sydney office in May last year and marks its latest expansion into international markets, joining previous entries in Turkey and Singapore.

OKX's expansion into Australia reflects Australians' growing interest in cryptocurrencies. In particular, the Australian Securities Exchange (ASX) is considering the possibility of introducing a spot Bitcoin ETF by the end of 2024.

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