A recent report from Cryptoquant reveals that comments by Federal Reserve Chairman Jerome Powell sparked a surge in U.S. bitcoin demand last week, though overall global demand remains weak. The report highlights the mixed signals in the market following the Fed’s announcement. Analysis Says Weak Global Bitcoin Demand Persists Cryptoquant‘s report details how bitcoin’s price […] Original
“The positioning of digital assets within institutional portfolios has been focused on trading of cryptocurrencies, with bitcoin and ether representing the largest investment avenues,” the report reads. “But institutional investors are exhibiting greater optimism around digital assets, encouraged by the expanding availability of a wider range of investment vehicles that take them beyond just cryptocurrencies.” Source
Russia is said to begin trials of crypto exchanges and token transactions for cross-border payments to mitigate the impact of international sanctions. Russia appears to be days from starting trials of crypto exchanges and token transactions for cross-border deals in a bid to bypass challenges faced under international sanctions, Bloomberg has learned, citing sources familiar with the matter. The trials, scheduled to start on Sept. 1, will involve using the National Payment Card System to facilitate the exchange between Russian rubles and cryptocurrencies, the sources say. This initiative follows recent…
Russia is reportedly gearing up to launch a new crypto-based cross-border payments system in an effort to overcome economic sanctions. Bloomberg reports that the Russian government wants to use digital tokens for cross-border transactions to help ease payment difficulties for its companies that have been affected by international sanctions placed on the country. According to people “with knowledge of the matter who asked not to be named discussing private information,” Russia will attempt to use the National Payment Card System (NSPK) to trade rubles and crypto assets when testing payments…
Hong Kong’s Securities and Futures Commission (SFC) has found “unsatisfactory practices” at “some” of the cryptocurrency exchanges seeking a full license from it after conducting on-site inspections, Bloomberg reported on Thursday citing people familiar with the situation. Source
Russia is set to launch two new crypto exchanges, one in St. Petersburg and another in Moscow, with a focus on stablecoin development. As sanctions continue to impact Russia‘s financial sector, the country is now planning to establish at least two domestic crypto exchanges, with one potentially utilizing the infrastructure of the St. Petersburg International Mercantile Exchange and the other to be set up in Moscow, though its exact framework remains undecided, Russia’s newspaper Kommersant reports, citing sources familiar with the matter. The Moscow-based crypto exchange could either integrate with…
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […] Source
Russia is reportedly making plans to launch its very own crypto exchange platforms and stablecoins. According to a new article by local news publication Kommersant, Russia is planning on creating at least two crypto exchanges – one based in Moscow and another in St. Petersburg – as well as stablecoins pegged to the Chinese yuan and BRICS currencies. Russia is part of an economic alliance with Brazil, India, China, and South Africa known as BRICS. The report goes on to say that the exchanges – which will be mainly reserved for wealthy…
Hamster Kombat, the Telegram tap-to-earn gaming sensation, is facing legal woes in Russia stemming from conflicts between its alleged creator, Eduard Gurinovich, and one of its early investors, Ad.ru, an IT holding company. According to reports from Lenta.ru, a popular Russian online newspaper, Gurinovich created Hamster Kombat using a company named Arenum, of which Ad.ru […] Source CryptoX Portal
Bitcoin crashed below $50,000 on August 5 in a sudden dip that saw many positions liquidated in the crypto market. This sudden dip, which cascaded into other cryptocurrencies, took the market by surprise. As such, Bitcoin fell to its lowest price in six months, and many other altcoins followed suit. Although Bitcoin has since recovered by 20% and now finds itself trading around just below $60,000, many short-term holders are still sitting in unrealized losses. A recent report from Glassnode, a leading blockchain analysis firm, sheds light on the factors…