Month: April 2023

Huobi Global records $30m profit in Q1, forecasts fourfold rise in Q2

Crypto exchange Huobi Global has recorded a profit of $30 million in the first quarter of 2023. Justin Sun, Tron founder and Huobi Global advisor, expects profits to rise fourfold in Q2, following measures implemented to reduce costs and boost efficiency. Sun announced that the exchange generated $150 million in revenue and incurred $120 million in expenditures during Q1. Despite several issues, the platform remained profitable following the collapse of the crypto exchange FTX. 一季度结束了，给公众披露集团的财务状态来提升透明度，Q1市场处于熊市，火币为主交易所业务处于整合状态，集团收入为1.5亿美元，支出为1.2亿美元，录得3000万美元盈利。一季度采取大量降本增效的措施，保守预测二季度收入为1.87亿美元，支出为7600万美元，1.11亿美元季度盈利。 — 孙宇晨🌞🇬🇩🇩🇲🔥 (@sunyuchentron) April 10, 2023 Sun further expects Huobi’s revenue to be $187 million…

Bitcoin hits $30K to mark highest price since June 2022

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Bitcoin (BTC) has hit price highs not seen since mid-2022 with the largest crypto by market cap touching $30,000 and setting a new high for 2023. According to CoinGecko data, Bitcoin has slightly surpassed $30,000 and is at nearly $30,200 at the time of writing, a price it hasn’t reached since Jun. 10, 2022. In the last 30 days, BTC recorded gains of nearly 46%, rising to its highest level in ten months on April 11. A 24 hour Bitcoin price chart showing its 6.5% gain to surpass $30,000. Source:…

Bitcoin BTC Price Blasts Past $30K as Investor Confidence Surges

Bitcoin last topped $30,000 on June 10, 2022 as it was on its way down to below $20,000, where it spent large parts of late that year and into the first weeks of 2023. It has been hovering around $28,000 for the past three weeks as wary investors gauged the impact of a near banking meltdown, continued inflationary pressures and other macroeconomic uncertainties. Bitcoin is up about 80% year-to-date after starting 2023 changing hands at about $16,600. Source

Economist Harry Dent Expects Biggest Crash in Our Lifetime to Hit Between Now and Mid-June – Economics Bitcoin News

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Harry Dent, economist and author of several best-selling books, has warned that the biggest crash in our lifetime is “going to hit between now and about mid-June.” He stressed: “People are going to know this is not a big correction — it is a major crash, one that you have not seen … in your lifetime.” Harry Dent’s ‘Biggest Crash’ Warning The founder of HS Dent Investment Management and author of several best-selling books, Harry Dent, warned in an interview with David Lin, published Friday, that the biggest crash in…

CFX surges ahead of new network partnership

Conflux (CFX) is up close to 14% within 24 hours ahead of a new partnership on the network. Trading at $0.416, CFX had recorded an increase of 13.5%, with the trading volume as well experiencing a surge of 67% as of the press time, showing the increased activity on the network. CFX 24-hour charts | Source: CMC With a 13% increase, the market cap also stood at $2,190,605,200 as of press time.  Attributes to the surge Today’s surge in the CFX token can be attributed to a recent partnership on…

JPMorgan CEO Jamie Dimon Says Banking Crisis Not Over — Warns of ‘Repercussions for Years to Come’ – Economics Bitcoin News

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JPMorgan Chase CEO Jamie Dimon says the U.S. banking crisis is not over and “there will be repercussions from it for years to come.” The executive added that recent bank failures “have significantly changed the market’s expectations,” and the odds of a recession have increased. JPMorgan CEO Jamie Dimon on U.S. Economy, Recession, and Banking Crisis Jamie Dimon, chairman and CEO of JPMorgan Chase, shared his concerns regarding the U.S. economy, recession, and the banking crisis in his annual letter to shareholders, published last week. The letter followed the recent…

New tax rules could mean a US exodus for crypto companies

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The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create more tech jobs in the U.S. But that isn’t how it will play out. Many countries have better R&D credits than the U.S. Much of U.S. software development will shift to countries such as the…

New R&D tax rules could mean a US exodus for crypto companies

The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create more tech jobs in the U.S. But that isn’t how it will play out. Many countries have better R&D credits than the U.S. Much of U.S. software development will shift to countries such as the…

BTC Nears $30,000, Reaching Highest Price Since June

“Bitcoin is likely to find resistance at $30,000,” DiPasquale noted in an email to CoinDesk. From a technical-analysis perspective, the current move is “a retest of the range high established in March after the initial surge from under $20,000. Success of this test would see the price claiming $30,000 while a failure here should see BTC drop to $25,000, followed by $23,000.” Source

French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’ – Economics Bitcoin News

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Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a conflict between the U.S. and China, and reduce its reliance on the U.S. dollar to avoid becoming “vassals,” applying his concept of “strategic autonomy.” Emmanuel Macron Believes Europe Should Remain Autonomous Regarding U.S. and China French President Emmanuel Macron recently revealed his stance on the current geopolitical and…