Day: November 23, 2023

Singapore Tightens Crypto Regulations to Protect Retail Investors

The new measures will be rolled out in phases, beginning in mid-2024. One of the incoming rules will ban the use of locally issued credit cards to purchase cryptocurrencies. In a bid to safeguard retail investors amidst the growing number of individuals engaging in digital asset usage, Singapore has taken steps to tighten crypto regulations. The Monetary Authority of Singapore (MAS) recently announced these new measures, aimed at curbing risky practices that often serve as incentivization techniques on crypto platforms. The new measures will be rolled out in phases, beginning…

How Bitcoin Is Redefining Investment Portfolios

To address these challenges, investors face a standard menu of options (Exhibit 1). To improve the tradeoff between risk and return in portfolios, they can reallocate to asset classes providing better risk-adjusted returns, lower correlations, or a bit of both. In recent years, for example, certain investors have increased their allocations to alternatives, including illiquid private assets like private equity and real estate. Although this has been a successful approach, these types of vehicles are not available to many individual investors. Source

Ethereum price up 3%, crypto mining token also gaining momentum

Ethereum (ETH) added 3% in the past 24 hours amid a mild recovery in the crypto market. Bitcoin (BTC) also rose above $37,000 after a dip earlier this week, influencing altcoins such as ETH. With the market gaining momentum, the focus is shifting to the presale phase of Bitcoin Minetrix (BTCMTX), a new crypto-mining platform. Ethereum adds 7% on bullish on-chain metrics The ETH price is up by over 7% from the Nov. 22 low, regaining the crucial $2,000 level. This rally comes as the crypto market rebounds from losses…

Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly

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Bitcoin (BTC) may not see a $40,000 BTC price reclaim despite increasing excitement over a spot exchange-traded fund (ETF). In recent analysis, crypto market participants have started to reconsider just how bullish the ETF narrative really is for BTC price action. Trader: “Not sure” BTC price will reach $42,000 The dust continues to settle on the U.S. versus Binance regulatory bombshell, which is thought to involve a $4.3 billion fine and the removal of Changpeng Zhao, also known as CZ, as CEO. Bitcoin sank to one-week lows on the news,…

Bitcoin’s path to $40k predicted by CryptosRUs analyst

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CryptosRUs analyst predicts Bitcoin’s imminent surge to $40,000, citing potential ETF approvals and the upcoming halving event as key drivers. In his YouTube video posted on Nov. 23, the crypto analyst behind the CryptosRUs channel predicted that Bitcoin’s (BTC) price could soon surge to $40,000. He believes several key factors could drive this price movement. “The derivative traders, the future traders, the option traders, they’re all targeting 40,000 right now. Everyone is eyeing 40,000 because that 39,000 resistance, nothing, right? We will break through that like it’s nothing. So, 40,000…

FTX’s FTT Token Leads Market Gains With 55% Rally, What’s Driving It?

The utility token of the defunct crypto exchange FTX, FTT is one of the top gainers in the last few days, rising 55% in just 48 hours alone. This has led to speculations as to what may be driving the token’s rally. One of them relates to a recent event in the crypto industry.  FTT Token’s Recent Rally Propelled By Binance News In a post on its X (formerly Twitter) platform, the market intelligence platform Santiment noted that the second rally for FTT came after the Binance news. The world’s…

Launching a DeFi company? 9 tips for choosing the best locale

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In this era of digital and remote business operations, it’s not uncommon to hear that choosing the location of a company’s headquarters isn’t as important a decision as it used to be. However, if an entrepreneur is launching a decentralized finance company, they’d be wise to set that advice aside. Launching in a relatively young industry with unsettled regulatory environments and unique talent needs means choosing a headquarters locale is actually a critical decision. So what are the details to consider and the checkboxes to tick for an entrepreneur researching…

HTX to restore services ‘within 24 hours’ after $13.6M hack

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Crypto exchange HTX, formerly Huobi Global, will resume deposits and withdrawals within 24 hours after suffering a $13.6 million exploit on Nov. 22. According to its official announcement, the exchange promised to “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds.” In addition, developers wrote, “the amount of funds lost by Huobi HTX this time accounts for a very small amount of the total funds of the platform,” noting that the “normal operations” of HTX were not affected by the incident.  The…

Blast Staking Sees $301M Inflow amid Skepticism from Crypto Users

Critics have expressed concerns about the inherent risks of Blast’s model, particularly the practice of staking on the liquid-staking protocol Lido in exchange for Blast points Despite some skepticism from the crypto community, Blast, an Ethereum Layer-2 blockchain set to be live in March, has successfully garnered over $301 million in staked Ethereum (stETH) and stablecoins since its introduction on Monday, according to reports. Blast, led by the pseudonymous @PacmanBlur, a co-founder of the popular Non-Fungible Token (NFT) marketplace Blur, distinguishes itself by incorporating native staking, a feature not commonly…

Crypto-Friendly Swiss City of Lugano Adopts Polygon for Swift Payments

Polygon will help Lugano achieve its goals by providing rails to facilitate some of the transactions. Lugano, one of the most popular tourist destinations in Switzerland, has embraced the Polygon network, a Layer 2 scaling solution built on the Ethereum ecosystem to accelerate its crypto evolution. In an announcement on November 22, Polygon said the crypto-friendly Swiss city has upgraded its payment platform MyLugano by integrating its Proof-of-Stake (PoS) network to make payments more accessible to people in the European region. Innovative Local Payment Tool Lugano, the economic hub of…