Hong Kong’s push to become a crypto hub has opened an opportunity for not just crypto companies but many state-affiliated banks in China. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China. The Hong Kong arm of…
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Bitcoin (BTC) starts a new week under $30,000 as analysts’ predictions of a short-term support retest come true. The largest cryptocurrency saw a classic dive following its latest weekly close as its latest gains evaporated — will they return? Ahead of a fairly innocuous week for macro data releases, catalysts are likely to come elsewhere…
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The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulator despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on…
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More Freedom of Information Act (FOIA) requests seeking information on recently closed crypto-friendly banks have been submitted by cryptocurrency advocacy group the Blockchain Association (BA) to two regulators. On April 14, the Association said that in addition to the FOIA requests, it has also filed Freedom of Information Law (FOIL) requests to the Federal Housing…
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Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the…
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Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most…
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The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation. The committee issued a memorandum to announce an upcoming hearing titled: “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” The hearing will…
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Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns…
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The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all…
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Top Stories This Week Ethereum’s Shapella hard fork executed on mainnet The Ethereum blockchain’s mainnet, also referred to as the Beacon Chain, implemented the Shapella hard fork on April 12. The upgrade made fund withdrawals possible for those who have staked the network’s Ether (ETH) asset. Within the first hour of the hard fork, a…
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