News

Hong Kong Set to Approve First Bitcoin and Ethereum ETFs
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Hong Kong Set to Approve First Bitcoin and Ethereum ETFs

Hong Kong regulators are reportedly on the brink of approving the first Bitcoin and Ethereum exchange-traded funds (ETFs) in Asia, with an announcement expected by April 15. This pioneering move could position Hong Kong as the inaugural Asian market with operational Bitcoin and Ethereum ETFs. Sources close to Bloomberg suggest that an international branch of...

Bitcoin Slumps as March US CPI Data Surpasses Expectations
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Bitcoin Slumps as March US CPI Data Surpasses Expectations

Bitcoin prices tumbled following the release of the U.S. Consumer Price Index (CPI) data for March, which revealed a hotter-than-expected inflation rate of 3.5%. This figure exceeded the forecasts of 3.4% and outpaced the previous month’s rate of 3.2%, signaling persistent inflationary pressures in the economy. The data, issued by the U.S. Bureau of Labor...

Mixed Signals in Bitcoin ETF Market Amidst Grayscale’s Record Outflows
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Mixed Signals in Bitcoin ETF Market Amidst Grayscale’s Record Outflows

The landscape of Bitcoin ETFs in the US is witnessing a paradox of flows, with the recent market activities reflecting a mixed sentiment among investors. After a sequence of inflows, the Bitcoin ETF market encountered a significant net outflow, primarily attributed to a massive withdrawal from Grayscale’s GBTC fund, which saw a record outflow of...

China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF
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China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF

In a bold stride towards embracing cryptocurrency, the Hong Kong subsidiaries of leading fund companies, including Southern Fund and Harvest Fund, are spearheading the development of Bitcoin exchange-traded funds (ETFs). A recent report highlights the submission of a spot Bitcoin ETF application to the Hong Kong Securities Regulatory Commission by Harvest Fund, marking a significant...

Bitcoin Surges 2% Amid Anticipation of Interest Rate Cuts
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Bitcoin Surges 2% Amid Anticipation of Interest Rate Cuts

In a remarkable rebound, Bitcoin’s value soared to $67,510 on April 4th, marking a 2% increase following positive remarks from the US Federal Reserve about potential interest rate easing. This uptick aligns with the optimistic opening of Wall Street, contrasting with a dip in gold prices after they crossed the $2,300 threshold. Jerome Powell, the...

Bank of England Unveils Plans for a Digital Securities Trading Sandbox
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Bank of England Unveils Plans for a Digital Securities Trading Sandbox

In a forward-looking move to embrace technological advancements in the financial sector, the Bank of England, alongside the Financial Conduct Authority, has initiated a public consultation for a pioneering ‘digital sandbox.’ This initiative aims to facilitate the testing of digital securities trading in realistic market conditions while maintaining a controlled regulatory framework. Set against the...

Tether Boosts Bitcoin Holdings with $618 Million Purchase
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Tether Boosts Bitcoin Holdings with $618 Million Purchase

Tether, the entity behind the widely-used USDT stablecoin, has significantly increased its Bitcoin investment, purchasing 8,888 BTC valued at $618 million on March 31. This strategic acquisition escalates Tether’s Bitcoin reserves to more than 75,000 BTC, equivalent to around $5.2 billion, positioning Tether as the seventh largest Bitcoin holder globally. This move underscores Tether’s commitment...

Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns
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Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns

Renowned “Rich Dad Poor Dad” author and prominent Bitcoin advocate, Robert Kiyosaki, has recently advised traders to abandon the US dollar in favor of Bitcoin, gold, and silver. Highlighting concerns over the stability of traditional paper assets, Kiyosaki expressed his skepticism towards financial instruments susceptible to inflation through printing. This guidance comes amidst growing worries...

Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit
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Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit

In Pennsylvania, Save Carbon County, a community group, has filed a lawsuit against the Bitcoin mining company, Stronghold Digital Mining. The lawsuit alleges that Stronghold contributes to environmental pollution by utilizing old coal refuse and tires as energy sources for its mining operations. Accusations include the release of mercury and the pollution of waterways, prompting...

Visa Surpasses One Billion Tokens in Asia-Pacific, Boosting Digital Payment Security
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Visa Surpasses One Billion Tokens in Asia-Pacific, Boosting Digital Payment Security

Visa has announced a major achievement in the Asia-Pacific region, with its Visa Token Service (VST) generating over one billion tokens. This milestone underscores significant progress in enhancing the security and efficiency of digital payments. Launched in 2014, VST improves the safety of online transactions by substituting traditional 16-digit credit and debit card numbers with...