Bitcoin (BTC) is expected to correct to as low as $32,000 next month following the potential approval of a spot ETF, according to data provider CryptoQuant. In what is being described as a potential "sell the news" event, CryptoQuant said in a note to CoinDesk that trader's unrealized profits are currently lingering at a level that historically...
India’s Financial Intelligence Unit (FIU) addressed the notices to Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex, according to a circular shared on Dec. 28. Furthermore, the FIU intends to wall off local investors from these platforms and has taken initial steps to block URLs of non-compliant Virtual Digital Assets Service Providers. FIU’s announcement...
Argentina’s government will offer a flexible tax rate and legitimize the usage of cryptocurrency assets within the country, irrespective of location or origin. President of Argentina Javier Milei proposed the bill as part of a broader set of economic and political reforms. The crypto community has responded positively to Milei’s election in November, given his endorsement of Bitcoin...
Binance reports welcoming over 40 million new users in 2023, a 30% increase from the previous year. The report delves into specific figures, such as Binance reaching 170 million registered users by the end of 2023, offering 431 assets for trading across 1,785 pairs. The use of digital assets for payments surged, supported by an expanding network of...
Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices. Value Partners already offers the only Hong Kong gold ETF...
Redditors appear to have an enthusiastic view toward cryptocurrencies, as 84% of discussions in 2023 were positive. According to CoinWire, which analyzed over 20,400 posts on Reddit over the last 12 months, the majority of discussions on the platform “were full of positivity,” suggesting investors are anticipating a rally in the foreseeable future. As noted by the firm, enthusiastic community...
The crypto market has started consolidating in the week between Christmas and New Years Day, after registering significant growth over the past month. According to data provided by CoinGecko, the leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have historically witnessed sideways movements with less bearish momentum at the start of the holidays in 2021 and 2022. The...
Binance founder and former CEO Changpeng Zhao saw his net worth grow by a whopping $25 billion in 2023 despite market challenges and Binance’s regulatory troubles. This year came with its unique challenges and market volatility. However, amid the issues, the market leveraged an opportunity to recover from the losses of the previous year triggered by...
Hong Kong authorities have proposed accepting and regulating fiat-pegged stablecoins (FRS). According to the document, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) will allow retail investors to purchase stablecoins, but note that their issuers must obtain a special local HKMA license. To obtain a license, companies must fully support all...
Bitzlato has suspended the withdrawal of Bitcoins (BTC) from the platform indefinitely amid legal problems in France. On Dec. 27, the crypto exchange platform Bitzlato announced the suspension of special balance withdrawals and technical customer support. The administration called it a “temporary measure” to prepare for upcoming court hearings regarding the seized assets of users in France. At the...
