Chinese trade associations sound crypto investment warning

The China Internet Finance Association has signed a joint statement with the China Banking Association and China Payment and Clearing Association, warning the public about the risks of investing in cryptocurrencies. According to a report by Shanghai Securities News on Tuesday, the aforementioned trade association under the People’s Bank of China issued a communique titled “Preventing the risk of virtual currency transaction speculation.” The joint statement is reportedly an extension of previous releases from the PBoC about Bitcoin (BTC) and crypto risks. As part of the communique, the three associations…

Digital Finance Group (DFG) Joins the Ternoa Adventure – Press release Bitcoin News

press release PRESS RELEASE. After announcing two major partnerships with Master Ventures and GD10 Ventures, the famous investment firm DFG now takes its turn in supporting the Ternoa project. Digital Finance Group (DFG) The international investment firm, created in 2015, now manages over $1 billion in assets. Always on the lookout for promising projects, the company was able to detect and invest early on in initiatives such as LedgerX, Brave and Circle. Their influence within the ecosystem is well known. They are among the main contributors in the creation of…

Street art NFT exhibition to launch in physical showroom in Riga

A physical showroom for nonfungible tokens is set to open in Riga, Latvia, where NFTs of street art from around the globe will be put on display. The gallery is being launched by Kiwie 1001, an NFT project born from the Latvian street art collective of the same name. Submissions are open to anyone who wishes to enter, and pieces can be submitted via the project’s Discord channel. Winning pieces will be voted on by the Kiwie 1001 community and will be presented in the Riga gallery when it opens…

ETH Futures Trading Goes Live on Bybit This Week

Bybit has also revealed their plans for the grand opening of cloud mining services on May 20. Derivatives exchange operator Bybit has announced it will expand its suite of crypto derivatives with the introduction of Ether futures contracts. The Asian exchange said it plans to start trading futures linked to Ethereum later this week, the latest signal of greater engagement with the crypto investment space. Should liquidity conditions be met, the platform will launch its inverse futures contract in ETHUSD0625 on May 20, and is coming up with another contract,…

Japan-Based Exchange BitFlyer to Operate in the US

Japanese digital assets exchange BitFlyer Inc will be expanding their reach to the US in order to meet the increasing institutional demand for cryptocurrencies while also doubling its target for overseas revenue. Hayashi Kuniyoshi, the President of BitFlyer who joined the company after leaving his former position as Citigroup’s deputy president, said: “The U.S. market is going through a transformation. Naturally, we have to have a try.” Hayashi stated that the company intends to increase the weight of foreign sales to 20% of the total revenue in the next two…

Harmony Joins Hands with Knit Finance to Promote Synthetic Cross-Chain DeFi, ONE Price Shoots 10%

This partnership creates a win-win for both Harmony and Knit Finance. Users can use the Harmony (ONE) token on the Knit Finance marketplace, whereas Knit can unlock several other potential use cases in DeFi. On Monday, May 17, Harmony, the sharding protocol with a trustless Ethereum bridge, announced its partnership with Knit Finance. Soon after the news, Harmony’s native crypto ONE token has shot 10%. At press time, Harmony (ONE) is trading at a price of $0.16 with a market cap of $1.5 billion. Knit Finance is a DeFi platform…

The First Online Crypto Brokerage SimpleFX, Leader Then, Leader Now

SimpleFX is one of the leading trading applications that has been around since 2014. The platform holds the distinction for being the first of the online brokers to offer cryptocurrency trading accounts. Simple and Flexible Trading Interface Designed to be an easy-to-use platform with a simple and intuitive user interface, SimpleFX is a mobile-first multi-device trading platform that can be accessed over any connected device. The trading platform is available as a native app on Android, iOS and more recently Huawei HarmonyOS ecosystems. In addition, users can also choose to…

Famed Investor Michael Burry Places $530M Bet against Tesla

One of the key justifications for the bet is that Tesla’s dependence on government-issued regulatory credits is unsustainable due to the growing competition in the electric vehicle niche. Famed Wall Street investor and the founder of Scion Asset Management Michael Burry foresees a downtrend in the share price of the electric automaker Tesla Inc (NASDAQ: TSLA) and has placed a bet to back his projections. As contained in a regulatory filing, per a CNBC report, Burry entered is long puts against 800,100 shares of Tesla or about $534 million worth…

Dave Portnoy Buys SafeMoon, Says He Doesn’t Know Why

The founder of Barstool Sports, Dave Portnoy, has released a video where he picked SafeMoon as his sh*tcoin of choice. Portnoy said he purchased $40k worth of SafeMoon as a hedge against the fragility of Bitcoin. My shitcoin announcement. Invest at your own risk. I have no idea how this works pic.twitter.com/G1iW8iZTWG — Dave Portnoy (@stoolpresidente) May 17, 2021 However, popular crypto YouTuber Lark Davies continues in his calls that SafeMoon is a Ponzi scheme. A month ago, as SAFEMOON was blowing up, Davies posted a tweet in which he…

Swiss Sygnum Bank to offer custody for Internet Computer token

Switzerland-based cryptocurrency bank Sygnum is launching custody and banking services for Internet Computer (ICP) utility tokens. Sygnum announced on Tuesday that ICP holders will be able to deposit their tokens with the bank’s institutional-grade segregated wallets. The firm said that it is the first bank to offer storage for ICP utility tokens, which debuted trading on May 11. In a second phase of rolling out ICP support, Sygnum plans to launch a suite of banking services for the token, including spot trading as well as options trading at a later date.…