The regulators confirmed their initial proposal that any person who issues a stablecoin in Hong Kong must obtain a license. While they say keeping reserve assets with banks licensed in Hong Kong could provide greater user protection, they are open to considering proposals on placing reserve assets in other jurisdictions. Source
U.S. spot bitcoin exchange-traded funds (ETFs) attracted $422.67 million in inflows on Tuesday, marking the highest single-day inflow since June 5. Blackrock’s IBIT led the pack, pulling in $260 million and boosting the fund’s BTC holdings to 322,125.41 BTC, worth over $20 billion. Massive Inflows into U.S. Spot Bitcoin ETFs Highlight Institutional Backing The spot […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Bitcoin traders are eyeing a short-term price target of $70,000 as BTC briefly climbed above $66,000 during the Asian day. Bitcoin subsequently retreated to $65,000 during the European morning, still 2.2% higher than 24 hours ago. “The rebound in Bitcoin price shows the market has a more optimistic outlook in the near-term macro environment,” shared Lucy Hu, senior analyst at Metalpha, in a message to CoinDesk. “The market was encouraged by Donald Trump’s vice president pick, which indicates a more crypto-friendly administration and policies.” Bitcoin may also be benefiting from…
Wall Street investors are deserting mega-cap stocks and piling into small-caps amid cooling inflation and strengthening signs of a Fed interest-rate cut. Source
Currently, the price of BNB has been attempting a bullish momentum movement toward the bullish trendline. This bullish move which is the second attempt the crypto asset is making after a successful break below the trendline is sparking up optimism among traders and investors alike that a break above could ignite a potential rally toward the $635 resistance mark. As BNB’s bullish sentiment continues to build, this article aims to analyze its current price actions and technical indicators pointing toward sustained growth to provide readers with adequate insight into BNB’s…
Marc Andreessen, co-founder of prominent venture capital firm Andreessen Horowitz, has announced his support for former President Donald Trump in the 2024 presidential race, citing Trump’s policies as more favorable for the tech industry and startup ecosystem. Andreessen, a self-described lifelong Democrat, explained his reasoning on the latest episode of “The Ben & Marc Show” […] Source CryptoX Portal
Cryptocurrency markets were built for retail customers, first and foremost, and that’s why they differ so dramatically from traditional finance. In mature markets, prime brokers offer institutions the equivalent of a simple bank account, behind which an army of intermediaries safely stores cash and assets and facilitates trades at lightning speed across a range of venues. Prime brokers also provide credit, allowing traders to shuffle and change positions, with everything netted down and settled a day or two later. Source
Flowdesk’s CEO made a contrarian bet on the U.S. as the Securities and Exchange Commission was waging war on crypto. Fast forward a year, and the country has bitcoin ETFs, ether ETFs are imminent and pro-crypto legislation is before the Senate. Source
Bitcoin’s price surged past $66,000 on July 17, buoyed by a record inflow of $422.5 million into eleven spot Bitcoin exchange-traded funds (ETFs) in the U.S., marking the highest inflow since June 5. BlackRock’s iShares Bitcoin Trust led the charge with a contribution of $260 million from Bitcoin investors on July 16, accounting for more than half of the day’s net inflows into spot Bitcoin ETFs. Data from Farside Investors revealed that this marked the eighth consecutive day of positive net inflows for U.S. spot Bitcoin ETFs. Bitcoin ETF Flow…
Nicholas Mui, 22, from Grand Haven, Michigan, has pleaded guilty in the 17th Circuit Court in Kent County to conducting a criminal enterprise, involving the theft and sale of Mperks account access information. Mui is required to forfeit his computer tower and approximately $630,000 in frozen cryptocurrency and cash. He compromised Mperks, a loyalty program […] Source CryptoX Portal