TLDR: Bitcoin ETF Approvals in Hong Kong, The SEC Issues a Wells Notice to Uniswap, EigenLayer Goes Live on Mainnet, Astroport Migrates to Neutron, pSTAKE Finance Expands to Solana, Avalanche Foundation Announces the Icebreaker Program, Terraform Labs’ Do Kwon Found Guilty by Jury.

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Bitcoin Highlights of the Week

Bitcoin ETF Approvals in Hong Kong

Hong Kong is on the verge of granting approval for its inaugural set of spot Bitcoin and Ethereum exchange-traded funds (ETFs), with the decision anticipated to come as early as Monday — mere days before the Bitcoin network undergoes a reduction in its supply issuance rate. It appears that Chinese asset management firms such as Harvest Fund Management, Bosera Asset Management, and HashKey Capital are on track to receive regulatory approval imminently for ETFs linked to the two foremost cryptocurrencies.

Bitcoin Takes a Dip Due to Middle East Political Tensions

Following Iran's attack on Israel, escalating geopolitical tensions in the Middle East, the price of Bitcoin experienced a sharp decline of over 8.4% on April 13th. The cryptocurrency's value dropped from approximately $67,000 to $61,625, resulting in a loss of over $130 million in market capitalization within minutes of the attack. This sell-off has also had a ripple effect on other cryptocurrencies, with the global crypto market capitalization decreasing by 8.19% to $2.23 trillion, according to CoinMarketCap data. Iran's launch of drones towards Israel serves as retaliation for an Israeli attack on a diplomatic compound in Damascus, Syria, which resulted in the deaths of seven Iranians, including two generals.

Bitcoin Becomes Backing Asset of Ethena

Ethena has integrated BTC as a collateral asset for USDe. This pivotal development will pave the way for substantial scalability for USDe, expanding its current $2 billion supply. In addition to this integration, staking for $ENA has also been launched this week.

Celestia and Bitcoin Team Up - Allegedly

Celestia, the first modular blockchain network that makes it easy for anyone to securely launch their own blockchain, has teased an upcoming Bitcoin implementation. This move signifies Bitcoin Layer 2s will be scalable due to Celestia’s modular offerings.

Paraguay Prepares Ban on Bitcoin Mining

If Paraguay's legislators approve the newly proposed bill to prohibit cryptocurrency mining within the country, the nation's economy could face a potential annual loss exceeding $200 million. Introduced on April 4th, lawmakers argue that illegal crypto mining operations are responsible for power theft and disruptions in the country's electricity distribution. Should the bill pass, the ban would remain effective for 180 days or until new regulations are established and the national power grid operator can guarantee an adequate energy supply.

Ethereum Highlights of the Week

The SEC Issues a Wells Notice to Uniswap

In a move that was both disappointing and anticipated, the SEC intensified its crackdown on cryptocurrency this week by issuing a Wells Notice to Uniswap, alleging that it operates as an unregistered securities broker and exchange. Uniswap swiftly reassured its users that its services remain unaffected and emphasized that tokens are merely digital assets, pledging to challenge the SEC's assertions. This development follows the SEC's legal action against Coinbase, where a judge ruled that Coinbase's Wallet did not qualify as a broker.

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