A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so. Greenland Financial Technology Group CEO James Geng Jing told the Hong Kong newspaper that a new company dedicated to virtual asset trading would be…
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Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says. In a tweet on May 16, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite Decentrader, revealed history repeating itself according to the RHODL Ratio metric. RHODL Ratiocreator on BTC price: “Zoom out” RHODL Ratio is…
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Software developer Jameson Lopp believes improving usability and user experience of Bitcoin (BTC) self-custody solutions and making more avenues to acquire BTC will be key in further adoption of the preeminent cryptocurrency. The co-founder of Casahodl, who’s a prominent figure in the Bitcoin and wider cryptocurrency space, spoke of the challenges in building self-custody solutions in…
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On today’s episode of The Market Report, analyst and writer Marcel Pechman discusses if Bitcoin (BTC) is safer than the United States dollar, considering the U.S. government’s risk of defaulting on its debt. He also covers why Bitcoin’s $28,000 resistance will not be a walk in the park and, finally, what is happening between Celsius,…
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Tether, the company behind the largest stablecoin Tether (USDT), is following in the footsteps of MicroStrategy to manage its reserves. The stablecoin issuer plans to strengthen its reserves with the help of Bitcoin (BTC) and move away from United States-based government debts. In an announcement on May 17, Tether revealed that it plans to invest a…
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In its latest futures-based exchange-traded fund (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin (BTC) futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of…
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Bitcoin (BTC) looked poised to give up $27,000 as support on May 17 with traders lying in wait for new lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Whales meet low liquidity Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $26,800 at the time of writing. The pair had staged multiple…
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On May 15, the Supreme People’s Procuratorate of the People’s Republic of China, the national agency responsible for legal prosecution, shared its thoughts on the non-fungible token (NFT) market. In an article published, three authors laid out the prosecutors’ vision of the market risks and the following reasons to enforce it more actively. The article…
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The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report. The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws with new crypto-specific rules.…
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Cryptocurrency investment group CoinShares recently published its Q1 earnings report for 2023 amid what it’s calling a “return to profitability.” Highlights of the report include revenue in the amount of $11.73 million (down from $22.46 million in Q1 2022), total comprehensive income of $3.62 million (down from $25.83 million in Q1 2022) and an adjusted…
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