Westpac, one of Australia’s ‘Big Four’ banks, blocked a $30,000 transfer to crypto exchange CoinSpot and froze the customer’s account, citing risk concerns. The customer, Tim, recorded a contentious call with the bank’s risk team, where he was questioned about the purpose of the transfer. The delay reportedly caused him to miss Bitcoin price gains. Westpac’s CEO later apologized but defended the bank’s anti-scam measures, noting that 20% of flagged crypto transfers were fraudulent. The incident comes as Australia prepares new crypto licensing reforms to address debanking issues. Tim has since switched banks.
about Westpac Blocks $30K Crypto Transfer, Freezes AccountTim
0 posts last weekEthereum Pectra Upgrade Faces Setback Due to Sepolia Testnet Issues
Ethereum’s Pectra upgrade faces setbacks on the Sepolia testnet due to issues with a custom deposit contract, affecting execution layer clients and leading to the propagation of empty blocks. This complication raises uncertainty for the anticipated mainnet launch next month, following previous challenges on the Holesky testnet. As the ecosystem expands, ensuring a smooth transition for future upgrades may become increasingly complex.
about Ethereum Pectra Upgrade Faces Setback Due to Sepolia Testnet IssuesUS Congressman Engages with Ethereum to Understand Crypto Regulation
Rep. William Timmons (R-SC) has taken a hands-on approach to cryptocurrency by setting up a self-custodial Ethereum wallet, “wrtiv.eth,” to better understand the technology and its regulatory challenges. As a member of the Subcommittee on Digital Assets, he aims to advance bipartisan legislation, including the Financial Innovation and Technology for the 21st Century Act and upcoming bills on stablecoins and market structure. Timmons emphasizes the importance of experiencing the technology firsthand to inform policy decisions.
about US Congressman Engages with Ethereum to Understand Crypto RegulationEthereum’s 2025 Outlook Clouded by Validator Decline and ETF Weakness
Ethereum’s outlook for 2025 appears bleak, with analysts noting a decline in active validators and weak ETF demand compared to Bitcoin. While Ethereum’s 2024 returns were significantly lower than Bitcoin’s, some experts suggest that improved marketing and diversification could attract investors. Current trading stands at $3,351, with predictions of potential price movements varying among traders.
about Ethereum's 2025 Outlook Clouded by Validator Decline and ETF Weakness