Establishing a national Bitcoin (BTC) strategic reserve may create negative market impacts for BTC and the US dollar, according to Haider Rafique, global managing partner for government and investor relations at crypto exchange OKX. Rafique told Cointelegraph that any government holding significant portions of the BTC supply could manipulate prices by dumping its holdings onto…
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Derivatives products, like options contracts — financial instruments that give investors the right but not the obligation to buy or sell an asset at a pre-determined price — will drive the Bitcoin (BTC) market capitalization to at least $10 trillion, according to market analyst James Van Straten. Van Straten said that options and other derivatives…
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The crypto treasury narrative, which has become a major feature of the current market cycle, parallels investor sentiment from the dotcom era of the late 1990s and early 2000s, which caused the stock market to sink by about 80%, according to Ray Youssef, founder of peer-to-peer lending platform NoOnes app. The same overzealous investor psychology…
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Crypto asset prices retraced this week, but the spot market is faring better than most digital asset treasury companies, which have lost over 90% of their value in some cases due to market saturation and investor concerns over the sustainability of the digital asset treasury business model. Strategy, the largest Bitcoin (BTC) treasury company, is…
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Hong Kong-Shanghai Banking Corporation (HSBC), an international banking giant, announced the first successful test of quantum computing in a trading application on Thursday. Researchers at HSBC used a quantum computer processor as part of their algorithmic trading process, a method of trading that uses pre-defined rules to execute transactions, to find the likelihood of filling…
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Asset manager Hashdex expanded its Crypto Index US exchange-traded fund (ETF) to include XRP (XRP), SOL (SOL) and Stellar (XLM) following the generic listing rule change from the Securities and Exchange Commission (SEC). The Nasdaq stock exchange-listed ETF now includes five cryptocurrencies held 1:1 by the fund, including Bitcoin (BTC) and Ether (ETH), and is…
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Stablecoins won’t unseat incumbent payment platforms, including Visa and Mastercard, until the blockchain tokens feature robust consumer protections, according to Guillaume Poncin, chief technology officer of payment company Alchemy. Traditional payment companies offer chargebacks, fraud protection, disputed transaction resolution and credit features that consumers have come to expect. Stablecoin projects must integrate these features to…
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Jimmy Song, a Bitcoin (BTC) developer and advocate, slammed the decision by Bitcoin Core developers to remove the OP_Return limit for non-monetary data embedded on the Bitcoin blockchain in the upcoming Bitcoin Core 30 upgrade, calling it “fiat” mentality. Song accused the Core developers of deflecting user concerns about removing the OP_Return limit, which is…
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The first regulated stablecoin tied to the international version of the Chinese yuan (CNH) meant for foreign exchange markets, and a South Korean won (KRW) stablecoin launched this week as the global stablecoin race heats up. Financial technology company AnchorX debuted its AxCNH yuan-pegged stablecoin on Wednesday at the Belt and Road Summit in Hong…
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Crypto markets will enter “up only” mode once the United States Treasury hits its target goal of filling the General Account (TGA), the Treasury Department’s bank account, with $850 billion, according to Arthur Hayes, co-founder of the BitMEX crypto exchange. “With this liquidity drain complete, up only can resume,” Hayes wrote on Friday as the…
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