Day: August 11, 2023

Bitcoin futures open interest at 2023 high while BTC trading volume at yearly low — What gives?

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Bitcoin (BTC) traders are currently not pleased with the recent price trends, especially due to the inability of its price to surpass the $30,500 mark over the last four weeks. This frustration is compounded by the fact that several requests for spot Bitcoin exchange-traded funds (ETFs) are either being delayed or pending review from regulators. Interestingly, there has been a noticeable uptick in the open interest of Bitcoin’s futures contracts, which likely indicates increased demand from institutional traders. On the other hand, activity in the derivatives markets has been lackluster.…

Hong Kong Securities Watchdog Grants Preliminary Nod to HKVAX for Virtual Asset Exchange Operations

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The Securities and Futures Commission (SFC) of Hong Kong has issued an in-principle approval to the Hong Kong Virtual Asset Exchange (HKVAX) to establish and operate a virtual asset trading platform in accordance with the securities laws of the region, media reports said. On August 11th, HKVAX made an announcement confirming that it had received an “approval-in-principle” from the SFC, allowing the exchange to conduct regulated activities falling under Type 1 and Type 7 classifications. A Type 1 license authorizes the platform to operate a digital asset trading platform catering…

Joe Rogan and Post Malone criticize US CBDC

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The entertainment industry is diving into the Central Bank Digital Currencies (CBDCs) debate, with Joe Rogan and rapper Post Malone expressing their concerns. On the “Joe Rogan Experience” podcast, which boasts over 11 million listeners per episode, the two discussed CBDCs. .@JoeRogan Says ‘No F*cking Way’ to Central Bank Digital Currency: “That’s Game Over”@PostMalone asked @JoeRogan, “So how do you feel about the government’s digital currency that they’re working [on]?” Rogan answered, “No f*cking way. No…

Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth

This was made even more alarming when it came out that Bankman-Fried had used VPN software, which can obscure a users’ internet activity. Bankman-Fried’s defense team claimed that was to watch a football game, which … look, whatever. The court didn’t buy the NFL Defense either, leading to Bankman-Fried’s current situation: he’s stuck using a flip phone because the court trusts him so little. Source

Regulatory Pressure Mounts On Worldcoin, Can WLD Price Recover?

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Worldcoin, the brainchild of OpenAI’s Sam Altman, made its official entrance into the world of cryptocurrencies in July. At first, things went smoothly as the euphoria from the launch grew. But this would only be short-lived because regulators began to pay close attention to Worldcoin’s data collection activities. In the last couple of weeks, regulators in various jurisdictions have brought Worldcoin under a microscope, significantly impacting the price of its native token, WLD. Regulatory Concerns Engulfs Worldcoin Not too long after its launch, Ethereum founder Vitalik Buterin first raised alarm…

Top Crypto Exchange Binance Sinks $5,000,000 Into Curve (CRV) Following Massive Hack on the DeFi Platform

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The venture capital arm of crypto exchange Binance just announced that it is putting money into the native token of the decentralized finance (DeFi) platform Curve. In a statement, Binance Labs says that its $5 million investment in the Curve DAO Token (CRV) signifies its commitment to join forces with the largest stableswap and second-largest decentralized exchange (DEX). The announcement comes as the price of CRV dipped following a massive hack on the platform in late July. Says Binance Labs head Yi He, “Given the recent events that have impacted…

PayPal’s Stablecoin Is No Libra. Why the Timing Feels Right

But in the grand scheme of things, PayPal’s project is in a far stronger position politically than the universally mistrusted Libra ever was. Republicans are thrilled that the payments company launched its stablecoin, known as PYUSD, at this moment. The bill’s sponsor, Rep. Patrick McHenry (R-N.C.), chairman of the House Financial Services Committee, called the move a “clear signal that stablecoins — if issued under a clear regulatory framework — hold promise as a pillar of our 21st-century payments system” and made it “more important than ever” to keep moving…

SHIB Rides On Bullish Waves As Shibarium Launch Nears

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This cryptocurrency, Shiba Inu dog-inspired logo, has garnered significant attention in the crypto community. As the highly anticipated Shibarium launch draws near, Shiba Inu (SHIB) is riding on bullish momentum.  In terms of the 7 days price gain, the meme coin is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), representing less than 1% price increase. Investors and enthusiasts are now considering whether to buy in as the project’s new development unfolds.  SHIB Price Gains Momentum As Shibarium Nears A recent examination of on-chain data by…

Prime Trust, Which BitGo Had Planned to Buy, Looks Poised for Potentially Massive Layoffs, Sources Say

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