Category: Exchanges

Hong Kong Regulator Receives First Application for Bitcoin Exchange-Traded Fund (ETF): Report

boss

A multinational asset management giant has reportedly submitted the first application for a spot Bitcoin (BTC) exchange-traded fund (ETF) in Hong Kong. Harvest Fund Management applied to the Securities and Futures Commission (SFC) of Hong Kong, according to a recent report from the Chinese media outlet Tencent News. Tencent also reports that the regulator hopes to speed up the approval process and have the ETF listed on the Hong Kong Stock Exchange in the next couple of months. The SFC published spot crypto ETF requirements in December. According to the…

U.S. SEC Delays Decision on Grayscale and BlackRock Spot Ethereum Exchange-Traded Fund Applications

boss

Federal securities regulators say they need a longer period to consider asset managers Grayscale Investments and BlackRock’s applications for an Ethereum (ETH) exchange-traded fund (ETF). In an order dated January 24th, the U.S. Securities and Exchange Commission (SEC) says it is extending the period to decide on a proposed rule change to convert the Grayscale Ethereum Trust (ETHE) product into an ETF. “On December 5, 2023, pursuant to Section 19(b)(2) of the Act, the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed…

Celsius Wallet Deposits Nearly $36,000,000 Worth of Ethereum (ETH) Into Crypto Exchanges: On-Chain Data

boss

A wallet associated with the defunct crypto lending platform Celsius deposited $30.34 million worth of Ethereum (ETH) to Coinbase on Monday, according to the crypto tracker Lookonchain. Lookonchain also notes that Celsius deposited $5.13 million worth of ETH to the crypto exchange FalconX. Celsius’ two staking wallets still hold a total of 557,081 Ethereum worth around $1.3 billion. Celsius filed for bankruptcy in July 2022 after its native token, CEL, plummeted by 99% and it was unable to fulfill withdrawals. In July, the project’s founder, Alex Machinsky, was arrested and…

Orbs Network Token ($ORBS) Gains Listing on India’s Most Compliant Exchange, CoinDCX

boss

CoinDCX, one of India’s most valued and biggest crypto exchanges, announced the listing of Orbs Network’s native token, $ORBS, this Tuesday. The listing will allow the Indian exchange users to buy and sell the $ORBS token using the Indian Rupee (INR) and other available crypto pairs including Bitcoin and Tether, with more pairs to be added in the future. Orbs Network is a Layer 3 open, decentralized and public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus. The platform is mainly known for its…

Is Cryptocurrency Different from Bitcoin?

boss

Cryptocurrency is a type of digital currency that uses cryptography for security. Bitcoin, on the other hand, is a specific type of cryptocurrency. While all Bitcoins are cryptocurrencies, not all cryptocurrencies are Bitcoins. In this article, we will explore the similarities and differences between these two terms. Similarities Both cryptocurrencies and Bitcoins are decentralized forms of digital currency. This means that they are not controlled by any central authority, such as a government or a bank. Instead, they rely on peer-to-peer networks and complex algorithms to validate transactions and maintain…

Bill Ackman and wife Neri Oxman buy stake in Tel Aviv Stock Exchange

boss

Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a nearly 5% stake in the Tel Aviv Stock Exchange, the exchange reported in a press release Wednesday. The announcement came as the Israeli bourse announced the pricing of a secondary offering of 17,156,677 shares priced at 20.60 shekels ($5.50) per share. “The transaction drew robust interest from investors across Israel, the United States, Europe, and Australia, reflecting a strong vote of confidence in…

FMX Futures Exchange Gains CFTC Approval

boss

BGC Group, Inc., a global brokerage and financial technology company, has announced that its FMX Futures Exchange has received approval from the Commodity Futures Trading Commission (CFTC) to operate an exchange for US Treasury and SOFR (Secured Overnight Financing Rate) futures. These futures contracts are among the most widely traded in the world. FMX’s clearing agreement with LCH SwapClear, one of the largest holders of interest rate collateral globally, uniquely positions FMX to compete in the US interest rate market. Howard W. Lutnick, Chairman and CEO of BGC Group, Source:…

24 Exchange Hits $4 Billion in FX NDF Volumes

boss

24 Exchange, the multi-asset class trading platform, announced today that it has set consecutive daily records for Foreign Exchange Non-Deliverable Forward (FX NDF) trading volume. The company processed an impressive total of over $4 billion in FX NDF trades for its global institutional customers on two consecutive days last week. This achievement marks a milestone, surpassing 24 Exchange’s previous daily volume record of $3.1 billion set in October of the previous year. Dmitri Galinov, the CEO and Founder of 24 Exchange, stated: “Setting consecutive daily volume records for FX NDF…

Cryptocurrency’s Impact on Traditional Banking

boss

Cryptocurrencies have emerged as a disruptive force within the financial industry, challenging traditional banking systems and reshaping the way people engage with money. With the advent of Bitcoin in 2009, cryptocurrencies have gained widespread attention and rapidly grown in popularity. This article examines the significant impact that cryptocurrencies have had on traditional banking. Decentralization and Disintermediation One key aspect of cryptocurrencies is their decentralized nature. Unlike traditional banks that serve as intermediaries between individuals and their money, cryptocurrencies enable peer-to-peer transactions without the need for a centralized authority. This decentralization…