Hong Kong is expanding cryptocurrency trading exposure to individual investors, with at least one exchange getting the regulatory green light to offer such services. Local digital asset firm HashKey has successfully obtained all necessary licensing to expand its business from serving professional investors to taking on retail users. HashKey’s new regulatory milestone has been enabled
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In a recent CNBC interview, Ripple President Monica Long announced the firm’s intentions to re-engage with the US market. This development follows the major court ruling clarifying that XRP, Ripple’s affiliated digital currency, is not considered a security in US. Long expressed her enthusiasm for the clarity the ruling provides. She explained, “It’s been a
Crypto-spouting Twitter bots could be playing a much larger role in artificially inflating the price of altcoins than previously understood, a new study has suggested. Using a sample of various FTX-listed cryptocurrencies in a study published Aug. 2, the Network Contagion Research Institute (NCRI) said it analyzed over 3 million tweets posted between Jan. 1, 2019, to
A number of United States’ lawmakers have urged the Internal Revenue Service (IRS) and the Treasury to speed up the closure of tax loopholes being exploited by “crypto tax evaders.” In an Aug. 1 letter, Democratic Senators Elizabeth Warren, Bernie Sanders, Bob Casey and Richard Blumenthal warned the top officials of both agencies that they
MicroStrategy co-founder Michael Saylor believes his firm will remain an enticing way for investors to gain exposure to Bitcoin (BTC) regardless of any future exchange-traded fund approvals. He has also confirmed his firm’s intention to continue adding more Bitcoin to its balance sheet, including with the potential proceeds of a planned $750 million share sale.
According to Etherscan data, the number of active ERC-20 addresses has not changed much in 2023. It has stayed between 200,000 and 300,000 while Ethereum prices stagnate below July 2023 highs. As of August 2, there were about 275,000 active ERC-20 addresses, up from 156,000 on June 18. Although activity has been low overall, there was
KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The professional services firm, one of the world’s Big Four, found that Bitcoin “appears to provide a number of benefits across an ESG framework.” Looking at each component of ESG separately, the report noted that emissions is a more significant indicator
Kanis Saengchote, a researcher at Chulalongkorn University in Thailand, recently developed a framework for identifying and measuring systemic risk in decentralized finance (DeFi) institutions. The new protocol is called the Global Systematically Important Protocol (G-SIP), and it’s based on a similar endeavor instituted in the traditional banking industry. After the global banking crisis of 2008,
The Curve Finance lending protocol has terminated governance token rewards for select liquidity pools affected by the July 30 Curve exploit and July 6 Multichain exploit, according to an Aug. 2 social media post from a member of the protocol’s governing body. The ending of rewards was carried out by the Curve emergency decentralized autonomous
AAVE, the governance token of the decentralized finance (DeFi) protocol Aave, experienced a 17% decline between July 30 and August 1, reaching the $62 level. While the $62 support has demonstrated its resilience, the current price of $64.40 is still 12% below the daily close on July 30. Investors are now questioning whether this movement
The latest sign of crypto going mainstream among traditional investors is the race heating up to launch the first exchange-traded fund (ETF) tied to Ethereum futures. In recent weeks, six companies have filed proposals with the Securities and Exchange Commission (SEC) to launch Ethereum futures ETFs. The Race To Launch An Ethereum Futures ETF Cryptocurrency
According to data provided by the Ukrainian government, cryptocurrency exchanges offering services in the country have failed to contribute more than $81 million to the national budget in the last decade. In an Aug. 2 notice, the Economic Security Bureau of Ukraine reported unrelated crypto exchanges were responsible for at least 3 billion hryvnia in
Ratings agency Fitch downgraded the United States’ long-term credit rating from AAA to AA+ on Aug. 1 and this move dented the risk on sentiment. The U.S. equities markets witnessed profit-booking on Aug. 2 and the cryptocurrency market’s recovery stalled in its tracks. However, after the knee-jerk reaction, the markets may settle down. The cryptocurrency
The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run on the exchange similar to what happened
Blockchain chat app OpenChat has enabled users to create Discord-like servers called “Communities,” according to an Aug. 2 announcement. Early UX prototype for OpenChat Communities. Source: OpenChat OpenChat is a blockchain-based chat app running on the Internet Computer (ICP) network. It facilitates mostly crypto-oriented chat groups, including some with a few thousand members. LootMoneyArmy (3,201
The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block. On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years’
Popular blockchain technology company, Ripple, has recently announced it was returning 800 million XRP tokens to its escrow wallet just after unlocking 1 billion tokens for this month. News of the event was reported by the prominent blockchain analytics and tracking platform Whale Alert. Ripple’s Commitment To Preserve Its Ecosystem In a series of tweets
The chances of approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States have now increased to 65% from a mere 1% just a couple of months ago. Bloomberg ETF analysts Eric Balchunas and James Seyffart said in a recent statement that the chances of approval for a Bitcoin ETF have increased
So, you’ve deposited some cryptocurrency onto an exchange. You expect that these funds will be held in your name as a liability, with safeguards in place to make sure that you can withdraw them when you wish. However, this is not necessarily the case. Sitting down with Magazine, Simon Dixon, CEO of global online investment
Abracadabra Money, a cross-chain lending platform, has proposed increasing the interest rate on its outstanding loans to manage risks associated with its exposure to Curve DAO (CRV). The proposal drew mixed reactions from the community, with several questioning the modification of loan terms, while others called it a great plan to cut down exposure to CRV. Abracadabra