Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on trust of third-parties, such as banks, particularly failing banks that were nevertheless bailed out by government at the expense of the public. “The central bank must be trusted not to debase the currency, but the…
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The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two. On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas…
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Crypto exchange Binance.US has removed trading fees for Bitcoin (BTC) spot market trades, following in the footsteps of Robinhood which pioneered no-commission crypto trading in 2018. Brian Shroder, CEO of Binance.US said the move makes the company the first U.S. crypto exchange to eliminate spot trading fees for Bitcoin for all users and without trading…
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The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.” The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade…
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United States Securities and Exchange (SEC) commissioner Hester Peirce said the newly released SEC Agency Rule List is full of “hot-button” topics implemented in an unreasonable hurry, while crypto was ignored. Commissioner Peirce, who is sometimes referred to as Crypto Mom for her strong positive views on cryptocurrency, released a statement concerning the SEC Spring…
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The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms. In a Wednesday announcement, the Ontario regulator said it had obtained orders fining Kucoin more than $1.6 million and banning the exchange from participating in the province’s capital markets. In…
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Bitcoin (BTC) continues to face a tough battle near the psychological level of $20,000 as the bulls and the bears attempt to assert their supremacy. Trading firm QCP Capital said in their latest market circular that funding rates on derivatives markets were stable and bearish conditions were fading. Another ray of hope for the Bitcoin…
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Trading platform Voyager Digital takes a loan from trading firm Alameda Research because of its exposure to crypto venture capital firm Three Arrows Capital (3AC). In a press release by Voyager Digital, the firm announced that it has borrowed 15,000 Bitcoin (BTC) from Alameda to cover the losses that came from its exposure to the…
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Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC. In a white paper released on Wednesday, Himes urged Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to prevent…
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Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and…
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