Crypto ETPs See Record Inflows as HSBC Enables Bitcoin Trading

• Switzerland seizes $26M tied to Do Kwon, Terra FTX restructurers allege SBF, other execs knowingly commingled, misappropriated customer funds since inception
• Binance reportedly pulls out of Austria, shifts focus to MiCA compliance in Europe
• Crypto ETPs saw $199M inflow last week, the largest since July 2022

Switzerland Seizes Funds from Do Kwon and Terra FTX

Switzerland has seized $26 million linked to Do Kwon and Terra FTX due to allegations that SBF and other executives knowingly commingled and misappropriated customer funds since its inception.

Binance Leaves Austria for MiCA Compliance

In response to the regulations surrounding crypto assets in Europe, Binance has reportedly pulled out of Austria and is now focusing on compliance with the Markets in Crypto-Assets (MiCA) framework.

ETF Inflows Reach All-Time High

Cryptocurrency exchange traded products (ETPs) have seen an influx of $199 million last week—the highest level since July 2022.

HSBC Customers Can Trade BTC & ETH Futures ETFs

HSBC customers based in Hong Kong can now trade Bitcoin (BTC) and Ethereum (ETH) futures exchange-traded funds (ETFs).

Circle Focusing on Asia’s Crypto Market Growth

Circle CEO Jeremy Allaire recently stated that Asia is a “huge area of focus” for their business given the demand for US dollar-backed stablecoins in emerging markets. With Hong Kong leading the way by approving retail crypto trading earlier this month, Circle is keeping a close eye on developments in the region.

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