The cryptocurrency market is notoriously volatile, and the demand for Bitcoin exchange-traded funds (ETFs) in the United States has seen a significant downturn recently, particularly throughout February. It appears that investors are losing interest when it comes to making purchases through these investment vehicles, especially as indicated by data from FarSide. The month has been
Crypto
The financial arena has become increasingly interesting over the past few months as Bitcoin and gold have experienced dramatically different price movements. This divergence raises questions about the future of cryptocurrencies, particularly Bitcoin, and highlights the complex dynamics influencing investor sentiment. Both assets serve as barometers for the economic climate, and understanding their contrasting trajectories
The cryptocurrency realm is known for its volatility, and this was magnified following the Bybit hack that transpired last Friday. The hack, which saw a staggering $1.5 billion in Ethereum being siphoned from one of Bybit’s hot wallets, sent shockwaves across the market. Immediately after the incident, Bitcoin (BTC) saw a steep decline, dropping over
In an exciting development for the financial technology landscape, Standard Chartered Bank Hong Kong (SCBHK) has joined forces with Animoca Brands and Hong Kong Telecommunications (HKT) to establish a joint venture (JV) aimed at creating a Hong Kong dollar-backed stablecoin. This partnership not only reflects a growing trend of collaboration between traditional financial institutions and
In a striking example of corporate betrayal, Ho Kai Xin, a former employee of WeChain Fintech Singapore, has been sentenced to nearly ten years in prison for orchestrating a sophisticated scheme that siphoned more than $5.7 million from her employer. Her role as a payroll processing staff member at WeChain, which managed the salaries of
In a groundbreaking move, Altvest Capital Limited has distinguished itself as the first publicly traded company in Africa to adopt Bitcoin as a core component of its treasury strategy. This decision signifies a notable shift in financial management approaches among African corporations, marking a potential turning point in how businesses perceive and utilize cryptocurrency within
Recent developments surrounding the Bybit hack have sent shockwaves through the cryptocurrency sector, marking one of the most significant breaches in the industry’s history. As news spread about the suspicious movements from Bybit’s hot wallets, the market responded with a sharp decline, sending Bitcoin’s price tumbling more than $4,000 from its earlier peak. Altcoins mirrored
In recent months, there has been a notable surge in applications for spot XRP exchange-traded funds (ETFs) in the United States. Prominent financial players, including Grayscale, Bitwise, and 21Shares, have all made strides to be the pioneer in this endeavor. The approval process is being closely monitored, particularly by the US Securities and Exchange Commission
The clash between Bybit CEO Ben Zhou and the Pi Network highlights the increasing scrutiny and complexities within the cryptocurrency landscape. Zhou’s recent emphatic stance against Pi Network, labeling it a scam, has escalated discussions about the legitimacy of such blockchain-based projects. This confrontation is not merely a corporate rivalry; it encapsulates broader concerns regarding
Metaplanet, a Tokyo-based investment firm, has officially announced that its total Bitcoin (BTC) reserves have surged to an impressive 2,100 BTC, translating to a staggering market value of $196 million. The firm’s recent strategic decision to acquire an additional 68.59 BTC for $6.6 million highlights its aggressive posture in the cryptocurrency market, especially at a
