Advertisements CFX tokens initially spiked in price after Hong Kong’s decision on retail investors, which some say could lure capital from Chinese investors. Tokens of Conflux Network (CFX) – an Asia-focused blockchain that some have dubbed the “Chinese Ethereum” – saw a spike in prices earlier amid increased attention from traders after Hong Kong decidedContinue reading “‘Chinese Ethereum’ Conflux Draws Spotlight as Hong Kong Welcomes Retail Traders”
Category Archives: Finance
Bitcoin, Ether Slip as UK Core CPI Reaches Highest Since 1992
Advertisements The annualized 3-month trend in UK core CPI is running at a whopping 13.6%, per the UK Office of National Statistics. Bitcoin slid under the $27,000 level during the Asia trading day, which lead to a market-wide decline in major cryptocurrencies as traders in broader equity markets reacted to poor U.K. inflation figures. TheContinue reading “Bitcoin, Ether Slip as UK Core CPI Reaches Highest Since 1992”
FATF Did Not Require Pakistan to Ban Crypto to Stay Off Its ‘Grey List’
Advertisements Pakistan’s Minister of State for Finance and Revenue has reportedly said crypto cannot be legalized in the nation due to conditions set by the global money laundering watchdog for staying off of its list of countries under increased monitoring. The Financial Action Task Force (FATF) does “not require countries to indiscriminately ban virtual assetsContinue reading “FATF Did Not Require Pakistan to Ban Crypto to Stay Off Its ‘Grey List’”
Market Update: VNMidcap’s Upward Trend, SBV Interest Rate Cuts, and ETF Restructuring Forecast
As the index approaches the strong resistance of the MA200 at 1,385 points, there is expected to be selling pressure and profit-taking among heavily speculated stocks in the upcoming trading sessions
Vietnam Central Bank Continues to Reduce Operating Interest Rates
The State Bank of Vietnam (SBV) has announced two decisions to further reduce operating interest rates, effective from May 25, 2023.
Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1
Advertisements The Securities and Futures Commission’s guidelines prohibit crypto “gifts” designed to incentivize retail investments, which likely includes airdrops. Hong Kong’s Securities and Futures Commission (SFC) will begin accepting applications for crypto trading platform licenses on June 1, according to a Tuesday announcement. The regulator has agreed to allow licensed virtual asset providers to serveContinue reading “Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1”
International Securities Regulator IOSCO Proposes Policy Recommendations for Crypto
Advertisements The consultation period for the global standard-setter’s first set of detailed recommendations for regulating crypto will close on July 31. The International Organization of Securities Commissions (IOSCO) opened up its policy recommendations for crypto and digital asset markets for public comment on Tuesday. The 18 policy recommendations cover a range of issues such asContinue reading “International Securities Regulator IOSCO Proposes Policy Recommendations for Crypto”
Crypto Market Near-Term Upside Is Likely Capped: Bank of America
Advertisements The bank expects digital asset trading volumes to remain subdued, with retail investors remaining on the sidelines. There is limited upside for cryptocurrency markets in the near-term, Bank of America (BAC) said in a research report Friday. “Low conviction, limited catalysts and outperformance year-to-date leave the digital asset sector stuck in a trading rangeContinue reading “Crypto Market Near-Term Upside Is Likely Capped: Bank of America”
Digital Asset Firm HashKey Group Looks to Raise up to $200M at $1B Valuation: Bloomberg
Advertisements The firm is looking to capitalize on Hong Kong’s re-emergence as a potential crypto hub as the city has looked to formulate a clear regulatory structure for digital assets. Digital asset financial services firm HashKey Group is planning to raise funds at $1 billion valuation, according to a Bloomberg report on Friday. The Asia-basedContinue reading “Digital Asset Firm HashKey Group Looks to Raise up to $200M at $1B Valuation: Bloomberg”
Litecoin Is Undervalued, Onchain Indicator Suggests
Advertisements Litecoin has rallied nearly 31% so far this year, but is still trading at discounted prices, according to an onchain metric called the MVRV Z-score. An onchain metric suggests that litecoin (LTC), the 12th largest cryptocurrency by market value, is trading at discounted prices. Litecoin’s market value to realized value (MVRV) Z-score was negativeContinue reading “Litecoin Is Undervalued, Onchain Indicator Suggests”
XRP Bucks Bitcoin-Led Slide in Majors as SEC Case Tilts in Ripple’s Favor
Advertisements Ripple has historically maintained a distance from XRP, the token that powers some of its products and the XRP Ledger network. The XRP token as much as 5% in the past 24 hours after reports that the U.S. Securities and Exchange’s (SEC) landmark case against Ripple was tilting in favor of the blockchain firm.Continue reading “XRP Bucks Bitcoin-Led Slide in Majors as SEC Case Tilts in Ripple’s Favor”
Ripple Starts Platform for Central Banks to Issue Their CBDCs
Advertisements The firm will also showcase a real estate tokenization product as part of Hong Kong Monetary Authority’s e-HKD pilot. Ripple is starting a central bank digital currency (CBDC) platform which allows central banks, governments, and financial institutions to issue their own digital currency. Using Ripple’s platform government institutions can manage and customize the entireContinue reading “Ripple Starts Platform for Central Banks to Issue Their CBDCs”
FTX Units Sue Embed Shareholders, Seek to Retrieve $6.9M
Advertisements Alameda alleges that Bankman-Fried and other insiders paid Embed misappropriated FTX funds in late September 2022, only weeks before the crypto exchange filed for bankruptcy Alameda Research and West Realm Shires, two wings of the bankrupt FTX empire, are seeking to claw back $6.9 million from Embed Financial shareholders, a broker-dealer that Sam Bankman-FriedContinue reading “FTX Units Sue Embed Shareholders, Seek to Retrieve $6.9M”
Lido Community Members Propose LDO Token Staking and Buyback Plan
Advertisements The proposal includes a revenue-sharing parameter that would redirect 20-50% of “future Lido DAO revenue from the protocol treasury to stakers of $LDO.” A Lido community member, who goes by the screen name “lidomaxi,” created a governance proposal Wednesday to increase the utility of Lido’s native governance token LDO by introducing staking and aContinue reading “Lido Community Members Propose LDO Token Staking and Buyback Plan”
Dogecoin’s Daily Transaction Reached Lifetime Highs After ‘DRC-20’ Tokens Introduced
Advertisements Transactional volumes on Dogecoin briefly surpassed Litecoin and Bitcoin earlier this week. Dogecoin’s daily transaction volume rose tenfold from the average daily earlier this week to set a lifetime peak following the launch of a new mechanism that now allows the issuance of tokens on the Dogecoin blockchain. The network saw over 645,000 transactionsContinue reading “Dogecoin’s Daily Transaction Reached Lifetime Highs After ‘DRC-20’ Tokens Introduced”