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Crypto Weekly Roundup: Tesla HODLs BTC, Cosmos Fixes Vulnerability, & More

Crypto Weekly Roundup: Tesla HODLs BTC, Cosmos Fixes Vulnerability, & More

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This week marked the launch of Grayscale’s newest Bitcoin offering with the lowest-ever fee to win back investors after experiencing significant outflows totaling billions of dollars from its Grayscale Bitcoin Trust. Let’s find out more.


Hong Kong’s securities regulatory body, SFC, has approved the launch of Bitcoin and Ethereum ETFs, which will offer investors a regulated and secure investment option starting April 30th.

Elon Musk’s Tesla has held on to its BTC reserves for the seventh quarter in a row, as established in its latest Q1 2024 earnings report. 

Grayscale has announced its Bitcoin Mini Trust, a spinoff Bitcoin ETF with a much lower fee to regain investor interest amidst increasing competition in the market.


Consensys has filed a lawsuit against the SEC, arguing against its regulatory control over Ethereum amidst concerns of stifled innovation and economic repercussions. The complaint, lodged in the United States District Court for the Northern District of Texas, contests the SEC's jurisdiction to regulate Ether as a security.


In a significant move, Franklin Templeton has announced the tokenization of its US Government Fund on the Polygon and Stellar blockchains. This tokenization will allow Franklin OnChain FOBXX investors to transfer the fund’s BENJI token between themselves without an intermediary. 


Cosmos developers have patched a critical security bug in the Cosmos Inter Blockchain Communication (IBC) protocol that had put at least $126 million at risk. Asymmetric Research had privately disclosed details of the vulnerability impacting the Cosmos ecosystem, adding that it was patched before anyone could exploit it. 

Several meme coin projects on Solana have been rugged over the past month, leading to investors losing a staggering $26.7 million. Solana founders have issued repeated warnings to users to discourage them from investing in such projects. However, even established influencers are participating in such activities and looking to scam users. 


The SEC is seeking a record $5.3 billion fine against Terraform Labs and Do Kwon for their role in the collapse of the Terra/LUNA stablecoin, signaling a significant crackdown on cryptocurrency misconduct.

The United States Department of Justice (DOJ) has arrested and charged the founders of the Samourai wallet with money laundering, alleging that they were operating a cryptocurrency mixing service. 

Venezuela's PDVSA turns to Tether to navigate US sanctions, aiming to safeguard oil transactions despite global skepticism and concern over reliance on intermediaries.

In line with global regulatory trends, Thailand is tightening its oversight of the cryptocurrency sector by blocking access to unauthorized crypto platforms. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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