Author: NBTC
A few years ago, Hong Kong was regarded as the friendliest jurisdiction for digital asset businesses. However, a $200 million local exchange scam forced regulators to become more stringent, and now, it’s gradually licensing exchanges as it balances investor protection and promoting innovation. The city’s regulator says it’s set to issue licenses for nearly a dozen virtual asset service providers (VASPs) by the end of the year. Elsewhere in East Asia, South Korea is reviewing its stablecoin laws and is consulting with other jurisdictions, including the European Union and Japan. Hong Kong to license 11 VASPs When JPEX collapsed with…
Binance Futures has announced changes to the leverage, margin tiers, and funding rate settlement frequency for the USDⓈ-M REEFUSDT Perpetual Contract, effective October 16, 2024 at 09:30 UTC. Binance Futures to Adjust Leverage, Collateral Tiers, and Funding Rate Frequency for REEFUSDT Perpetual Contract Changes in Leverage and Collateral Levels The updated leverage and margin levels will apply to both existing and new positions. Traders who had open positions prior to the update are advised to adjust their positions and leverage to reduce liquidation risk. Increased Funding Rate Placement Frequency Starting at 09:30 on October 16, Binance will increase the funding…
Last night the dominance of Bitcoin rose above 58%, and its price in Ethereum rose to the highest levels since 2021. These are very high values, typical of a pre-bullrun period. Bitcoin on Ethereum: dominance at all-time highs The supreme dominance of Bitcoin over Ethereum and altcoin A good sign? Let’s prepare for the altseason The altcoins The effect of the halving Bitcoin on Ethereum: dominance at all-time highs Today the price of Bitcoin of Ethereum is around 25.5 ETH. It had not been this high since April 2021, so much so that at the beginning of 2024 it was…
Donald Trump’s decentralized finance (DeFi) project appears to have gotten off to a slow start, with a little over 4% of its tokens snapped up on the first day. Data from Dune shows that 819 million of the 20 billion tokens offered by World Liberty Financial have so far been bought—or just over $12 million in sales. World Liberty Financial launched Tuesday to accredited investors in the United States. The hope, according to the team behind the project, is that all U.S. citizens will eventually be able to get involved. Today’s the day! @WorldLibertyFi token sale is live. Get your…
The crypto industry fell victim to confirmation bias this week in a sensational fake news story. According to the tall tale, venture capitalist Marc Andreessen gave an AI agent $50,000 of bitcoin, the AI launched a memecoin, and it rallied to a market capitalization of $225 million. The story went viral likely because it confirmed every hope and fear of crypto-anarchists, libertarians, effective accelerationists, and memecoin traders. The story tapped into the global buzz about AI automatons and the potential of blockchain communities like Solana, decentralized finance, and memecoin platforms like Pump.fun. According to the narrative, the Andreessen-funded AI created…
Telegram game Hamster Kombat launched its long-awaited HMSTR token Thursday on The Open Network (TON), and while some players complained of smaller-than-expected airdrops feeling like “dust,” the token saw sizable trading action in its first day on the market. HMSTR logged more than $1.2 billion worth of trading volume in its first 24 hours, per data from CoinGecko early Friday, putting it not far behind the 24-hour trading of top cryptocurrencies like Binance Coin (BNB), Dogecoin (DOGE), and XRP. The token is currently priced at $0.0067, down approximately 18% over the last 24 hours and settling at a current market…
Democratic Senator Elizabeth Warren launched a pointed attack on her Republican opponent, attorney John Deaton, during a heated Massachusetts Senate debate co-hosted by WBZ and The Boston Globe late Tuesday evening, accusing him of being beholden to the crypto industry. Warren, a longtime advocate for tighter regulation on digital assets, claimed Deaton prioritized crypto interests over the needs of working-class Americans. “One candidate standing here gets 90% of their campaign funding from one industry—the crypto industry. One candidate has openly admitted that 80% of his personal worth is tied to crypto,” Warren said during the debate. “If John Deaton goes…
Binance has announced the launch of a new BNSOL/USDT trading pair and expanded trading options across its spot, margin, and trading bot platforms, effective October 17, 2024. Binance Introduces New BNSOL/USDT Trading Pair and Expands Margin Services with Trading Bots BNSOL/USDT trading will be available on Binance Spot at 11:00 AM on October 17, 2024. Trading Bots services for Spot Algo Orders will also be enabled for the BNSOL/USDT pair, providing automated strategies for users. Expansion of Margin Services Binance will expand margin trading capabilities starting at 1:00 PM on October 17: BNSOL will be added as a collateral asset…
On April 19, 2024, Bitcoin miners witnessed their block rewards halve from 6.250 BTC to 3.125 BTC. This quadrennial event has historically sparked a bull market for Bitcoin, stirring anticipation across the crypto community. The price action has been tepid since the Bitcoin halving. Hence, some analysts are calculating when the Bitcoin bull market will start. Bitcoin Bull Market in 20 Days? Crypto analyst Quinten Francois has highlighted a consistent pattern in Bitcoin’s cycles. He stated that the average Bitcoin cycle begins roughly 170 days after the halving. Currently, 150 days have passed since the Bitcoin halving. Hence, a bullish…
Coinbase Premium Index was negative on October 11-13, 2024. The reason this is making headlines is due to heavy ETF flows and speculation that the difference would reflect the same sentiment. However, it did not, and many are now interpreting this as an increase in retailer interest. Coinbase Premium Index essentially measures the difference between Coinbase Pro price and Binance price. Whales and institutions drive the former, while retail movements primarily drive the latter. Net flows on said dates were $252 million and $556 million, respectively. More data is awaited for the concrete conclusion, which may likely suggest that retailers…