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Hong Kong’s securities regulator is considering allowing investors to buy spot crypto ETFs (exchange-traded funds) as officials ramp up their efforts to create an Asia-Pacific digital asset hub, Bloomberg News reported. “We welcome proposals using innovative technology that boosts efficiency and customer experience,” said Securities and Futures Exchange (SFC) CEO  Julia Leung in an interview with Bloomberg. “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.” Hong Kong Regulators Relax Spot Crypto ETF Rules The SFC tightened its regulation around digital assets in January this year and restricted retail investors from accessing spot cryptocurrency ETFs . Only professional investors with portfolios worth at least HK$8 million (about $1) were able to access these spot cryptocurrency ETF products. These restrictions were then revised in October to allow a wider range of investor...

Former FTX executive Nishad Singh said yesterday that he found an $8 billion hole in the cyrptocurrency exchange’s accounts in September last year but continued to approve transactions he knew were funded with customer deposits Singh, former head of engineering at the bankrupt exchange, made the revelation while testifying in the trial of FTX founder Sam Bankman-Fried on charges of fraud and conspiracy. Singh, who had worked at affiliate Alameda Research before FTX’s inception, said that he knew Alameda’s bank accounts were used to store FTX customer funds right from the beginning. Nishad Singh takes the stand as SBF looks on (by: me) pic.twitter.com/8xii8f6be1 — Brady Dale (@BradyDale) October 16, 2023 FTX User Deposits Routed to Alameda He detailed his role in routing FTX user deposits into Alameda bank accounts and how he personally added wire instructions to FTX’s website, directing funds into Alameda-controlled accounts. He also explained how ...

Ethereum co-founder Vitalik Buterin’s wallet has moved $3.94million Ether to various exchanges this month. In its most recent transaction, the wallet was used to send 400 ETH (approximately $600,000 at current rates) to Coinbase, raising questions as to whether he is selling. Over the last 10 days, Buterin’s wallet has transferred 2,421 ETH to several cryptocurrency exchanges, as shown by Spot On Chain reports. The streak began when the wallet transferred 321ETH to Kraken between September 15 and September 19. At the same time, Buterin also reportedly sent 1,700 ETH to Bitstamp over several transactions up until September 20. A day earlier, the wallet was also noted to have sent 500 ETH to Paxos. 🚨 @VitalikButerin deposited 400 $ETH to #Coinbase at $1,579 ($632K) 2hrs ago. Notably, Ethereum’s co-founder has deposited a total of 2,421 $ETH to multiple CEXs at 1,628 on average ($3.94M) via two addresses over the past 10 days. 👉 More details: https:...

The US House Financial Services Committee passed a bill that would block the Federal Reserve Bank from issuing a central bank digital currency (CBDC). The CBDC Anti-Surveillance State Act, introduced by Majority Whip Tom Emmer last week, is now headed for a congressional vote. Emmer, who says the bill already has the support of 60 members of Congress, praised the committee’s decision, saying there were dangers to the state having control over a CBDC and that it is incompatible with American values. “If not open, permissionless, and private – just like cash – a central bank digital currency is nothing more than a CCP [Chinese Communist Party]-style surveillance tool that can be weaponized to oppress the American way of life,” he said. The first anti-CBDC bill in the United States passed out of the Financial Services Committee today! A historical step in defending against an ever-expanding government surveillance state. https://t.co/1XXSEHOhNC ...

With Bitcoin persisting to rebound crazy in the last few months, it is coherent that many are asking if retribution is anticipated. And despite his reservations about its long-term prospects, billionaire venture capitalist and entrepreneur, Adam Back admits that the current price action does look rather frothy. But he still stands by his previous $100k price target for this year. Adam’s $100 000 price forecast for BTC For those who aren’t aware, Adam Back made a controversial bet that Bitcoin’s price would hit $100 000. While this number still seems a bit arbitrary, it is important to remember that the bet had nothing to do with the current price at the time. It is all about the future price of Bitcoin. And this brings us to the first point. Adam said that he believes Bitcoin’s fair value is $100 000 since it is a store of value and a settlement network. But since Bitcoin’s average daily transaction value is less than $100k, it will be quite some...

Bitcoin Regains Bullish Momentum as Buyers Step In – July 12, 2022 Bitcoin’s (BTC) price has fallen below the moving average lines as buyers step in. The largest cryptocurrency has fallen below the $20,000 psychological price level. BTC/USD risks further decline if the coin fails to rebound above the current support. Bitcoin is trading at $19,488 at the time of writing. Bitcoin Price Statistics Data: •Bitcoin price now – $19,488.08 •Bitcoin market cap – $372,282,327,069 •Bitcoin circulating supply -19,092,493.00 BTC •Bitcoin total supply – $409,476,062,396 •Bitcoin Coinmarketcap ranking – # 1 Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000 Buy Bitcoin Now Following the recent rally , BTC price broke above the 21-day line SMA to reach the high of $22, 425. The bulls were unable to keep the price above the 50-day line SMA. A break above the 50-day line SMA will propel Bit...

SudoRare abruptly terminated all of its services and social media profiles when it was claimed that the company had stolen 519 ETH, which is equivalent to around $815,000. Tuesday, the developers of the non-fungible token (NFT) platform SudoRare demanded more than $800,000 in a variety of cryptocurrencies from customers before removing the project’s internet presence. The decentralized NFT marketplace SudoSwap, which is well-known for its liquidity pools for NFTs and lower gas fees, was the inspiration for the creation of SudoRare. LooksRare (LOOKS), another NFT marketplace that rewards users for their participation on the platform, was also a source of inspiration for SudoRare. Over the course of the past year, both projects have seen an increase in popularity within crypto circles . Over the course of one week, users that staked LOOKs, XMON, and wETH for SudoRare own tokens were eligible to participate in a yield farm. However, blockchain data from Tuesday morning sho...

It’s not like Memecoins just appeared out of nowhere. Meme tokens are digital assets that at first appeared to be joke projects but later gained widespread support from the cryptocurrency community. Elon Musk’s Dogecoin and Shiba Inu are the two most well-known meme currencies. The latest blockchain initiative to try to capitalize on the popularity of Dogecoin and similar meme currencies is called Tamadoge, and it’s poised to become the next big thing in the meme currency market. This article will take you through everything you need to know about Tamadoge and still make a smart investment in 2022. More on Tamadoge This new meme coin crypto called Tamadoge is based in the Tamaverse, a fictitious world where users may chat with one another and compete for prizes. Tamadoge is based on the same infrastructure as the Doge meme coin community, as the name would imply. In 2021, meme tokens like the DOGE currency were extremely popular. After Elon Musk began promot...

Join Our Telegram channel to stay up to date on breaking news coverage As the market continues to consolidate at stagnant prices, several major projects and companies have been building infrastructure and aiming to perfect their product. Since Bitcoin started a downtrend from its all -time high of around $67,500 in 2021, investors have been waiting for the perfect opportunity to buy into several projects. While the bearish sentiment still shows strength in the industry, there have been a couple of announcements from major projects that may impact prices. However, the most awaited among these is Ethereum’s Merge due in a couple of days. But is the merge really the only answer to all the issues currently faced by users of the network? Read on to know What is Ethereum? Built using smart contracts, Ethereum is a decentralized, open-source blockchain. Founded in 2015 by Vitalik Buterin, Ethereum has since become one of the most important cryptocurrencies in the entire indus...

Join Our Telegram channel to stay up to date on breaking news coverage The Florida Department of Agriculture and Consumer Services (FDACS) released a warning outlining tips for identifying spam text scams marketing auto warranty claims, which incorporate being inquired to purchase services with gift certificates and virtual currencies. Complaints about rising robocall frauds, in which scammers use pretaped calls and texts to promote and sell deceitful services, prompted the Enforcement Bureau to request that telecommunications companies stop carrying automated phone traffic. The FDACS publication identified five tip-offs that suggest a scam despite how scammers notify possible targets. The announcement emphasizes the importance of being cautious about transaction methods frequently recommended by scam artists. It states that it is fraudulent if you’re requested to pay with a rewards card or virtual currency. Furthermore, to request that Florida citizens avoid making cry...

Join Our Telegram channel to stay up to date on breaking news cover age Crypto exchange Bitvavo expects Digital Currency Group (DCG) to fulfill at least 80% of its obligations to the exchange. What: Bitvavo plans to recover about 80% of its debt owed by the Digital Currency Group (DCG) Why: Bitvavo believes that DCG has insufficient funds to pay for the full amount DCG owes them but should be able to offset atleast 80% of what it owes What next: DCG plans to sell Grayscale shares at 8% per share to raise the amount. So far it has raised $22m Bitvavo seeks to re cover   €280m ($300m) from DCG which is about  80-100% of the total amount. They also plan to repay it using cash, digital assets, and convertible preferred equity notes in DCG. The exchange expects the agreement to be sealed in a few weeks as other details are being worked out. Additionally, Bitvavo rejected the proposal by DCG to pay 70% of its debt. They argued that DCG needs more funds to pay all...