Crypto Markets Experience Shifts with Bitcoin Spot ETF Outflows and Luno Layoffs

Bitcoin spot exchange-traded funds (ETFs) witnessed net outflows of $49.75 million, according to SoSoValue. This comes as BlackRock's IBIT ETF led the redemptions with a daily net outflow of $54.83 million.

Luno has announced plans to cut 20% of its global workforce as part of a corporate restructuring strategy. The move is aimed at adjusting the company's operating structure in response to recent market behavior. Luno management did not disclose the exact number of employees affected by this decision.

Myanmar's Parliament recently approved legislation aimed at combating cryptocurrency-related online scams and fraud networks. The new law targets digital-currency fraud, online scam centers, forced scam labor, and financial infrastructure used by fraud networks.