Month: May 2023

7 must-read books for aspiring tech entrepreneurs

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If you’re an aspiring tech entrepreneur looking for insights and inspiration to enhance your knowledge and skills, here are seven must-read books to consider: The Lean Startup by Eric Ries The acclaimed book The Lean Startup by Eric Ries has become a standard for budding tech entrepreneurs. Ries proposes the lean startup methodology, which emphasizes the value of experimentation, iterative development and ongoing learning in creating successful firms. The book presents a methodical method of entrepreneurship that questions conventional business methods. It helps business owners test their theories, confirm their…

There are now nearly 10 million holders of Reddit NFTs

Dune Analytics data shows that nearly 10m users own “Reddit NFTs” on Polygon, an Ethereum sidechain. Reddit NFT holders rising Released in July 2022, the customizable collection by Reddit, a social media platform, has gained significant traction. According to on-chain data, there are 9,947,410 Reddit non-fungible tokens (NFTs) holders. Of these holders, approximately 7.7 million are single collective avatar holders. These are holders with a single avatar and do not use multiple wallet addresses. The Reddit collectible avatar marketplace on Polygon features NFTs designed by independent artists and content creators within the…

Users accumulating stablecoins as bitcoin and crypto prices rally

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Data from Glassnode, a crypto intelligence provider, shows that there is a noticeable accumulation of BUSD, USDC, and USDT across top centralized exchanges like Binance and Coinbase. On May 29, the provider reveals that BUSD’s transaction volume recently hit a 1-month high of $1,067.80, suggesting that more users are using the token.. BUSD median transaction volume – May 29 | Source: Twitter This spike in activity is despite the uncertainty pertaining to BUSD’s future. Paxos, the…

Huobi to expand trading service into Hong Kong crypto market

Cryptocurrency exchange platform Huobi has announced the launch of Huobi HK, an initiative that aims to provide cryptocurrency trading services to users in Hong Kong.  According to the announcement on May 29, the platform aims to provide cryptocurrency trading services to users in Hong Kong, facilitating the buying, selling, and holding of mainstream cryptocurrencies such as bitcoin (BTC) and ethereum (ETH), along with other major cryptocurrencies listed on the independent index. Surce: Huobi on Twitter Hong Kong’s crypto-friendly policies and impending regulations With Hong Kong gradually implementing crypto-friendly policies since…

European Markets Open Higher Following US Debt Ceiling Deal

European stock markets were higher in pre-trade amid impending Congress vote on the proposed US debt ceiling bill. European markets opened higher on Monday following the US debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy. Over the weekend, the two high-ranking politicians finally agreed to raise the US debt ceiling, thereby preventing a default. In light of the deal, Biden and McCarthy now seek to convince Congress to approve implementation in the coming week. European Markets Respond Positively to US Debt Ceiling Development Following Choppy Week The development…

Tourists are unhappy with crypto payments ban in Bali

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The government of Bali, Indonesia, recently cracked down on crypto payments for goods and services and reminded tourists that the Indonesian Rupiah is the only legal tender. Some tourists were dissatisfied with the decision, saying that they will not visit again.  On May 28, the Indonesian government affirmed that tourists who will use crypto for payments “will be dealt with firmly.” They could be subject to punishments such as deportation, criminal penalties, and administrative sanctions. In addition, the businesses that would be caught accepting crypto could also be punished and…

President Biden Strikes Deal to Raise US Debt Ceiling, Japanese Market Gains Most

Despite China’s uneven economic recovery, Deutsche Bank “remains optimistic” about China for the medium to long term. Over the last weekend, US President Joe Biden and congressional leaders struck a deal to raise the US debt ceiling. This will allow the government to borrow more and spend on infrastructure and other social welfare schemes. The voting for the bill shall likely happen later this week. The news led to some optimism in the early trading hours of the Asia market on Monday. Japan’s Nikkei closed 1.03% higher at 31,233.54 with…

Bybit gets pre-approval in Kazakhstan as crypto custody service provider

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Cryptocurrency exchange Bybit continues the expansion of its operations after receiving “in-principle” approval from regulators in Kazakhstan. On May 29, the exchange announced its pre-approval from Kazakhstan’s Astana Financial Services Authority (AFSA) to operate as a digital asset trading facility and custody services provider at the Astana International Financial Centre (AIFC). Ben Zhou, co-founder and CEO of Bybit, said he believes in the “promising potential” of the Commonwealth of Independent States (CIS) as a region for growth in the crypto industry. Zhou also stressed Bybit’s commitment to compliance with local…

Temasek Executives behind FTX Stake See Compensation Reduced

According to Temasek, despite the absence of any misconduct, both its senior management team and investment body assumed collective accountability and accepted a reduction in their compensation. Executives of Singapore investment firm Temasek Holdings who oversaw the company’s investment in FTX will have their compensation slashed. According to reports, the firm ranked second among the major external investors in the now-insolvent  FTX. The latest update comes after Temasek carried out an internal assessment of its funding six months ago. During this assessment, the investment company disclosed that certain executives and…

Mining difficulty passes 50 trillion — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week in an altogether different mood as the weekly candle close brings a move higher. The largest cryptocurrency, still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows. With volatility back in play, traders nonetheless remain conflicted — can short-timeframe strength lead to an overall trend breakout? Opinions differ as May comes to an end, and brings with it a macroeconomic showdown, which is already making itself felt — the United States debt ceiling deal. With…