Huobi Group launches 4 crypto funds targeting $100M in assets

Huobi Technology Holdings — a part of the Huobi Group, which includes leading Seychelles-based cryptocurrency exchange Huobi Global — has launched four digital currency funds targeting $100 million in assets by September, setting the stage for wider institutional adoption.  The company said it has already secured $50 million in commitments across the four funds, putting it on target to reach its total assets-under-management target by September. The funds will track the prices of Bitcoin (BTC) and Ether (ETH). As reported by Bloomberg, Huobi Tech’s offerings include an active fund that…

Stablecoins Are Changing and It’s a Big Deal

Stablecoins aren’t anything new. They’ve been around almost as long as cryptocurrencies have, with the first bonafide stablecoin launched way back in 2014. Since then, they’ve largely been used by traders and investors looking for a temporary reprieve from volatility. But it wasn’t until relatively recently that stablecoins began to evolve to offer users more than simple stability or a fiat alternative, but a viable entry to the world of cryptocurrency. This evolution mainly relates to improvements in how they’re backed and used, making modern stablecoins far more capable than…

Jackson, Tennessee follows Miami's lead to adopt Bitcoin operations

Jackson, Tennessee is the latest city in the United States moving to adopt Bitcoin (BTC) payments and mining, following recent crypto developments in Florida. Jackson Mayor Scott Conger announced Wednesday that the city is actively exploring the option to pay its employees in cryptocurrency in addition to mining Bitcoin and adding it on the city’s balance sheet. The mayor hinted that the city is looking to enable payrolls in several digital assets, mentioning coins like Bitcoin, Ether (ETH), and Litecoin (LTC). “Local government will lead the way in #Bitcoin adoption,…

Bitcoin Loses Important Lifeline That Got Bulls Blood Pumping

Bitcoin price is back below $55,000, unable to keep its bullish momentum it had leading into the Coinbase Global listing. Since then, things have turned down. The fall back below $60,000 has with it also taken the coin below a critical life-saving support level that’s been untouched since late 2020. Bitcoin Loses Life-Saving Support Level, First Time Since 2020 Bitcoin and other cryptocurrencies are notorious for their volatility, but that’s also how they’re able to generate life-changing wealth for early investors. Because of how volatile the emerging speculative asset class…

Ethereum hits $2.6K all-time high as Bitcoin market dominance falls below 50%

Ether (ETH), the largest altcoin by market cap, hit new all-time highs on April 22 despite a bearish phase sweeping through Bitcoin (BTC) and other cryptocurrencies. ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview Ether price claims new record Cointelegraph Markets Pro and TradingView showed ETH/USD hitting $2,600 for the first time during Thursday on the back of 9.2% daily gains. Against Bitcoin, Ether was also on fire, hitting 0.047 — its highest since August 2018. ETH/BTC 1-week candle chart (Bitstamp). Source: Tradingview The second-largest cryptocurrency increasingly stood out against the rest…

NYSE president is bullish on Coinbase listing and DeFi

Thomas Farley, president of the New York Stock Exchange, said the world of finance was "past the point of no return" on crypto following Coinbase's public listing last week. In an interview with CNBC’s Squawk Box on Thursday, Farley said he was excited to talk about developments in the crypto space such as Coinbase’s COIN listing on stock exchanges and decentralized finance, or DeFi. The New York Stock Exchange president said he had invested $10 million in the crypto exchange on behalf of the NYSE back in 2013. "I think…

This metric that called the 2017 top is now flashing red

After weeks of Bitcoin (BTC) sell-offs, high-net worth individuals, or whales, are finally back to buying. Their buying activity did not only pick up when the BTC price broke out of the two-months ascending triangle to new all-time highs, but also stayed intact since the price crash on April 18. Whales have come back to accumulate Bitcoin Their continuous buying activity comes at a time when addresses holding more than 1,000 Bitcoin reached their 4-month support line. Bitcoin: Number of Addresses with Balance >= 1k. Source: Glassnode This is probably not…

DOGE out of control? Social media and whales sway Dogecoin price action

Dogecoin (DOGE) has been the talk of the crypto town in the month of April. On the first day of the month, it was trading in its usual $0.05 range. On April Fools’ day, Tesla CEO Elon Musk tweeted about the coin yet again. His tweet read, “SpaceX is going to put a literal Dogecoin on the literal moon” — SpaceX being the aerospace company that Musk also founded. Although the tweet was intended as a joke, it set the Shiba Inu-themed meme token on a rally like no other.…

Coinbase delisting averted as German stock exchange resumes trading

The scheduled delisting of Coinbase shares from the German Deutsche Boerse stock exchange appears to have been averted. The platform announced on Wednesday, April 21, that Coinbase would be removed from the Xetra, and Frankfurt stock exchanges this week after it was discovered the cryptocurrency exchange had not submitted proper reference data for its shares. The removal date was originally touted as Friday, April 23, at the close of the day’s trading session. The Legal Entity Identifier, or LEI, code is a prerequisite for firms conducting financial transactions within the…

New digital dispute rules aim to keep crypto disagreements out of court

A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s UK Jurisdiction Taskforce puts forward new “Digital Dispute Resolution Rules” that aim to provide a standardized means of dealing with smart contract disputes. Under the remit of the new rules, crypto-based disputes could be resolved without any major intervention by the courts. The laws would allow for the appointment of an independent tribunal to adjudicate on matters of dispute, and any…