Day: November 27, 2023

Binance CEO Details Prediction, Says Crypto Exchange About To Reinvent Itself With New Corporate Structure: Report

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The new CEO of the world’s largest crypto exchange by trading volume foresees strength ahead for crypto and his company. Fortune reports that Changpeng Zhao’s successor at Binace, Richard Teng, says that Binance’s move towards compliance will pay off in the long term, positioning the company to claim a bigger share of the growing crypto market. Teng, who previously worked as Binance’s head of regional markets, was promoted to the CEO position last week after the company’s previous chief executive, Changpeng Zhao, stepped down. Says Teng, “We are starting from a…

Changpeng Zhao may not leave the US pending court review, says judge

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Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing. According to a Nov. 27 filing in U.S. District Court for the Western District of Washington at Seattle, Judge Richard Jones stayed a decision by a magistrate judge that would have allowed CZ to return to the United Arab Emirates (UAE), where he has a home and family members. The judge ordered that…

Analyst Sets $47,000 Target For Bitcoin If This Happens

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An analyst has explained how $47,360 could be the next target for Bitcoin if the cryptocurrency can clear the $38,500 resistance wall. Bitcoin URPD Suggests $47,360 Holds Next Major Resistance After $38,500 In a new post on X, analyst Ali talked about what the levels ahead of BTC are looking like right now in terms of the on-chain resistance. The indicator of interest here is the “UTXO Realized Price Distribution” (URPD), which tells us about the amount of coins (or more precisely, the UTXOs) that were last acquired at the…

Spot Bitcoin (BTC) ETFs Have Almost $100M in AUM in Brazil, Led by Hashdex Offering

Together, those ETFs have $96.8 million of assets under management (AUM) as of November 21, led by Hashdex’s Nasdaq Bitcoin Reference Price FDI (BITH11) with $57.8 million in AUM as of November 21, or a market share of about 60%. As comparison, the largest ETF in the nation, iShares Ibovespa Index (BOVA11), has $2.41 billion in AUM and the second largest, the iShares BM&FBOVESPA Small Cap (SMAL11), has $1.19 billion in AUM. For reference, the largest U.S. ETF, the SPDR S&P 500, has roughly $430 billion in AUM. Source

IBM brings ‘utility-scale’ quantum computing to Japan as China and Europe struggle to compete

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IBM announced the completed installation of a 127-qubit quantum computing system at the University of Tokyo on Nov. 27. According to the company, this marks the arrival of the first “utility-scale” quantum system in the region. [Article] The University of Tokyo Completes Installation of 127-Qubit IBM Quantum Eagle Processorhttps://t.co/TrFAnEQ3wq — UTokyo | 東京大学 (@UTokyo_News_en) November 27, 2023 The system, dubbed a “Quantum System One” by IBM and featuring the company’s Eagle processor, was installed as part of an ongoing research partnership between Japan and IBM. According to a blog post…

European Companies Dance to the US Stock Exchange Beat

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In recent times, a notable trend has emerged, with European companies choosing to delist from their home exchanges and instead opting for listings on prominent US platforms like the New York Stock Exchange and NASDAQ. Simultaneously, financial projections for the S&P 500 in 2024 reveal a bullish outlook, with strategists foreseeing the index reaching new heights. Exploring these market dynamics reveals intriguing correlations that shape the evolving landscape of global finance. Global Corporate Migration: Motivations and Trends A significant number of European companies, ranging from Flutter Entertainment to CRH and…

Circle And SBI Holdings Partnership To Boost USDC In Japan

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Global financial firm Circle has announced a strategic partnership with the Japanese financial services SBI Holdings, Inc., to promote the adoption of Circle’s USDC stablecoin and web3 services in Japan. Circle Joins SBI Holdings In A Memorandum Of Understanding According to the announcement, both parties have signed a Memorandum of Understanding (MOU) toward promoting UDSC‘s adoption in the country. Due to this, both parties are also committed to accurately abiding by stablecoin-related regulations and communication with authorities. The announcement read: The companies have signed an MOU underpinning the work ahead,…

About $1,000,000,000 in Bitcoin Yanked From Exchanges in Two Weeks As Whales Accumulate Ethereum and XRP: Trader

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A closely followed crypto analyst says that close to $1 billion worth of Bitcoin (BTC) has been pulled from crypto exchanges in recent weeks as deep-pocketed investors simultaneously stockpile Ethereum (ETH) and XRP. Crypto analyst Ali Martinez says on the social media platform X that market participants have been yanking large amounts of BTC from crypto exchanges in the last two weeks. “Around 25,000 BTC have been withdrawn from known crypto exchange wallets in the last two weeks, worth nearly $1 billion!” Source: Ali Martinez/X Bitcoin is trading for $37,215…

OKX launches crypto exchange and web3 wallet in Brazil

OKX has launched its crypto exchange and Web3 wallet in Brazil, marking a significant expansion into the Latin American market with a focus on providing secure and comprehensive crypto trading and defi services. Global web3 technology company OKX has recently expanded its reach by launching a crypto exchange and web3 wallet platform in Brazil. This move provides Brazilian users with direct access to decentralized finance and cryptocurrency trading. The introduction of the OKX platform in Brazil is notable for its inclusion of Brazilian real fiat-on-ramp capabilities, facilitating easier entry for…