On October 30th, BlackRock’s iShares Bitcoin Trust (IBIT) witnessed an unprecedented inflow of $872 million, signifying the largest single-day inflow since its inception in January. This momentous event underlines a significant shift in market sentiment, occurring a day after IBIT experienced a trading volume surge to $3.35 billion—the highest in six months. The trust has
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In the fluctuating landscape of decentralized finance (DeFi), a recent report from Animoca Research sheds light on the performance of tokens listed across five major cryptocurrency exchanges from January to September. The analysis evaluated 773 token listings, revealing a disconcerting average drop in value, ranging between 40% and 70%. Notably, exchanges such as Binance, Bitget,
As the world of cryptocurrencies continues to evolve, Hong Kong is stepping up its game by planning to license additional crypto exchanges by the end of this year. Financial Secretary Paul Chan made this announcement during the ongoing Hong Kong FinTech Week, highlighting that the local Securities and Futures Commission (SFC) is in the process
The indictment of Maximiliano Pilipis, a former resident of Noblesville, Indiana, represents a significant moment in the landscape of cryptocurrency and financial regulations. Pilipis faces serious charges related to money laundering and tax evasion, stemming from his alleged operation of an unlicensed virtual currency exchange called AurumXchange. With the rapid evolution of digital currencies, such
The cryptocurrency market has recently exhibited heightened activity, marked by Bitcoin’s surge towards its all-time highs, promising significant fluctuations in various assets. Among these assets, Cardano (ADA) stands out, capturing the interest of investors and analysts alike. Its recent price behavior bears a remarkable resemblance to that of 2020, a pivotal year when Cardano witnessed
On October 29, 2023, Visa, a leader in international payments, announced an innovative partnership with Coinbase, a prominent cryptocurrency exchange, aimed at integrating real-time money transfers between traditional banking systems and cryptocurrency platforms. This collaboration leverages the capabilities of the Visa Direct network, promising to enhance convenience and efficiency for Coinbase users in the United
In a groundbreaking financial strategy, the royal government of Bhutan has created significant waves in the cryptocurrency market by transferring a substantial quantity of Bitcoin (BTC) into the Binance exchange. A total of 929 BTC, valued approximately at $66.16 million, was moved in two separate transactions on October 29, coinciding with a pronounced surge in
Ripple (XRP) has been experiencing a tumultuous phase marked by cautious investor sentiment. Recent trading patterns indicate a momentary recovery from the pivotal support level at $0.50, which has historically acted as a stronghold for buyers. As Ripple approaches the 200-day moving average (MA) around $0.57, the crux of the situation lies in whether it
The Bank for International Settlements (BIS) has initiated an ambitious project, known as Project Mandala, aimed at innovating the landscape of cross-border transactions. In collaboration with central banks from Australia, Korea, Malaysia, and Singapore, the BIS seeks to address the prevalent regulatory hurdles that complicate international payments. An official statement released on October 28 outlines
In a groundbreaking move, Circle, a prominent issuer of stablecoins, announced the signing of a Memorandum of Understanding (MOU) with HKT, a leading entity in technology, media, and telecommunications. This collaboration aims to innovate loyalty programs in Hong Kong, leveraging blockchain technology to shape a unique merchant ecosystem. With the convergence of Circle’s expertise in
