Day: July 20, 2020

Ant Financial Plans Dual IPO Listing in Shanghai and Hong Kong

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The Ant Financial management believes that their move to go for an IPO and become a public company will enhance transparency to their stakeholders. In an initial public offering (IPO) set to be debuted on two stock exchanges, Chinese fintech firm Ant Financial Service Group is set to raise capital to further its course. According to the company, it anticipates listing its shares with the Shanghai Stock Exchange Star Board and also the Stock Exchange of Hong Kong. The endeavor will see the company’s valuation to around $200 billion. As…

Bitcoin Futures Trading Volume Slips to 3-Month Low on CME

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Trading activity in bitcoin futures listed on the Chicago Mercantile Exchange (CME) has cooled notably as the leading cryptocurrency languishes in the price doldrums. Daily trading volume fell to $87 million (via 1,895 contracts) on Friday to hit the lowest level since April 17, when the exchange-traded contracts were worth $77 million, according to data from crypto derivatives research firm Skew.  Bitcoin futures volume on CMESource: Skew Volume topped out at $914 million on May 11 – the day bitcoin underwent its third miner reward halving – and has been…

SNG Stock Up 470%, Synairgen Reports COVID-19 Vaccine Trial Results

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Following the company’s announcement about the success of its COVID-19 vaccine, Synairgen stock has increased significantly. Now it is nearly 470% up. British pharmaceutical company Synairgen Plc (LON: SNG) that is taking part in the COVID-19 vaccine race has announced positive results for the trial of its vaccine candidate. According to the company, those who were taking its drug SNG001 had a 79% lower risk of severe coronavirus symptoms in comparison to those who were taking a placebo. Following the announcement, Synairgen stock has skyrocketed. At the time of writing,…

Tesla Rival Xpeng Motors Raises $500M in Recent Funding

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Chinese electric car company Xpeng Motors began delivering its P7 sedan model last month, which is almost similar to Tesla Model 3. In fresh funding, Chinese electric vehicle company Xpeng Motors has managed to raise a total of $500 million from different private investors. Some of the investors who took part in the Xpeng Motors funding include Aspex, Coatue, Hillhouse Capital, and Sequoia Capital China. Also known as Xiaopeng Motors or XMotors.ai is a company headquartered in Guangzhou but with international offices located in California, United States. Last year around…

Coincidence? Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration

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Top five Swiss bank Julius Baer Group, which manages $427 billion in assets, announced on July 20 that its profit increased by $524 million in the last two quarters. The bank most likely benefited from an increase in trading revenues throughout the U.S. and Europe. The profit of Julius Baer reportedly spiked by 34% in the first half of 2020. It coincides with the bank’s introduction of a custodial service for digital assets — like Bitcoin (BTC) — in January. Overall surge in global banking revenues or Bitcoin integration? The…

Bitcoin, Ether, and XRP Weekly Market Update July 20, 2020

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The total crypto market cap lost $1.5 billion to its value for the last seven days and now stands at $272.6 billion. The top 10 currencies were mostly in red for the same period with ChainLink (LINK) adding 10.3 percent while Bitcoin SV (BSV) lost 7.6 percent. By the time of writing bitcoin (BTC) is trading at $9,181 while ether (ETH) is hovering around $238. Ripple’s XRP reached $0.198. BTC/USD Bitcoin once again hit the $9,300 resistance line on Sunday, July 12, and closed near that mark. It closed the…

Why An Analyst Says Ethereum Has At Least 1 Month of Bullish Fuel

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Against Bitcoin, Ethereum has been embroiled in a brutal bear market for the past two years. There was a point when one ETH was worth in excess of 0.1 BTC, but those days have long passed. Now, Ethereum trades for under 0.03 BTC — a far cry from its all-time highs. But multiple analysts say that the asset is on track to see a strong recovery against Bitcoin in the months ahead. Related Reading: Asked About Bitcoin, Elon Musk Just Joked He “Only Sells Dogecoin” Ethereum Has At Least a Month…

Ethereum Transactions Reach ATH, ETH 2.0 Testnet Date to Be Revealed

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The rise in the DeFi activity has got the Ethereum network transaction volumes to over 1 million and pushed it to its record high. The ETH 2.0 can majorly address the scalability issues for the Ethereum network. The Ethereum network use and daily ETH transactions are on their way to attain new all-time highs. The transaction volume has been constantly surging over the last few weeks and is all set to hit new record levels. Last Friday, the Ethereum network executed 1.07 million ETH transactions. This is pretty much close…

Romania Is on the Way to Blockchain and Crypto Regulation

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The European Union and the European Central Bank wanted to create a unitary legal framework that would limit the anonymity of cryptocurrency transactions, especially in the spectrum of money laundering, terrorist financing and tax evasion. The simplest method of control and probably the only one possible in the case of digital currency transactions is by checking the route of fiat currencies. Any purchase of digital currency with fiat money and vice versa is monitored through exchange providers. As there is no legal framework in the EU to provide a definition…

Mastercard Expands Cryptocurrency Program for Crypto Card Issuers

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Mastercard is reaching out to cryptocurrency firms and encouraging them to apply to become partners as part of its newly-expanded cryptocurrency card program. On July 20, Mastercard said it was simplifying access to its Accelerate program for crypto card issuers, allowing applicants to be onboarded as partners “in a matter of weeks.”  Now enhanced for crypto card applicants, the Accelerate program gives partners support with their market entry, continued growth and international expansion.  New crypto partners will be assisted in integrating Mastercard’s technology and will be in a position to…