Crypto News

• The introduction of EUR CoinVertible sets a standard for compliance, aligning with upcoming UK initiatives and the EU's Markets in Crypto-Assets (Mica) regulations. • It has broad trading availability, is fully backed by the euro, and ensures token holders have direct recourse in the event of any issues without liabilities falling back on the bank itself. • This development reflects Société Générale's commitment to innovation and could lead to further integration of stablecoins within traditional financial markets. LUXEMBOURG - Société Générale has made a significant entry into the digital currency space with the introduction of its own stablecoin, named EUR CoinVertible, on Luxembourg's Bitstamp exchange. This move places the...

• Cardano saw a 10.05% increase on Wednesday, its highest one-day percentage gain since July 13th and pushing its market cap up to $15.5204B, representing 0.97% of the total cryptocurrency market. • Over the past seven days, Cardano has seen a positive trend, gaining 13.93%. Its 24-hour trading volume was $766M and it traded between $0.3718 and $0.4405 over this period. • Bitcoin found itself on the rise as well, increasing 5.32% to reach $44,080.4 on the Investing Index; meanwhile Ethereum saw a 2.38% gain at $2,265.00 on the same index. At current prices, Cardano is still 85.79% below its all-time high of $3.10 set in September 2021 Cardano was trading at $0.4405 by 08:03 (13:03 GMT) on the Investing.com Index on Wednesday, up 10.05%...

• Colombia's President Petro has taken possession of Bitcoin, demonstrating his commitment to exploring the potential of digital currencies and blockchain technology. • The Financial Superintendency of Colombia is currently piloting a plan for crypto regulatory frameworks, showing the country’s progressive stance on digital currency adoption. • With high-level engagement and regulatory clarity on the horizon, Colombia is leading Latin American nations towards cryptocurrency adoption for national prosperity. Colombia is making significant strides towards integrating cryptocurrency into its economic framework, with President Gustavo Petro now owning Bitcoin (BTC) after engaging in strategic talks focused on national adoption. The...

• Flare Labs has launched the private beta phase of FAssets, its innovation to integrate XRP, BTC, and DOGE into the DeFi space. • The FAssets project allows users to mint synthetic assets representing non-smart contract tokens on a smart contract chain. • A broader public beta is expected in Q1 2024, setting the stage for a mainnet release and providing token holders with cross-chain incentives via FLR tokens. Flare Labs has launched a private beta phase for its innovative FAssets system on the Coston testnet, marking a significant step forward in integrating XRP, BTC, and DOGE into the DeFi ecosystem. This development is a precursor to a broader public beta expected in Q1 2024, aimed at expanding user participation and dApp...

In an effort to tighten its control over unpaid crypto taxes, the UK government is urging cryptocurrency users to voluntarily disclose their capital gains or income related to digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and utility tokens. In an announcement published on Nov. 29, the HM Revenue & Customs has advised crypto holders in the UK to voluntarily report their unpaid capital gains and income taxes from digital assets to avoid potential penalties. In the guideline, crypto asset holders are being urged to carefully assess the extent of their unpaid crypto taxes. The number of years to disclose depends on the degree in which the individual has notified authorities or paid previous taxes. Those who have...

• According to Mike Novogratz, of Galaxy Digital CEO, bitcoin, gold and silver are poised to jump as the Federal Reserve shifts its monetary policy. • The US dollar has already started falling on bets for a Fed pivot, while Novogratz is also bullish on the euro, Australian dollar and Brazilian real. • The billionaire investor is shorting China's yuan due to structural issues in the economy. • Novogratz believes that if gold closes above $2,000 for a few weeks it could surge even higher and predicts a number of other factors will drive bitcoin higher past its previous records. Bitcoin, gold, and silver should jump as the Fed pivots, but China's yuan faces structural problems, Mike Novogratz says; 30.11.2023 - Upside is coming for...

30.11.2023 - The race for a spot Bitcoin exchange-traded fund (ETF) in the U.S. gained another contender this week, as Swiss asset management firm Pando Asset AG submitted an application to the Securities and Exchange Commission (SEC). Pando is the 13th firm to throw its hat in the ring, joining heavyweight competitors such as BlackRock and ARK Invest. The company filed the requisite S-1 form on Tuesday outlining plans for the Pando Asset Spot Bitcoin Trust, which would trade on the Cboe BZX Exchange under the ticker "PBC" if approved. Coinbase Global Inc. has been designated to serve as custodian, while the Bank of New York Mellon will take on administrative duties. The trust intends to use CME Group's CF Bitcoin Reference Rate for...

In a move to boost investor interest in cryptocurrency funds, BlackRock (NYSE:BLK), the world's largest asset manager, has refined its proposal for an in-kind Bitcoin Spot Exchange-Traded Fund (ETF). The revised proposal, which was presented to the Securities and Exchange Commission (SEC) and Nasdaq officials on Monday, seeks to enable direct trading of Bitcoin (BTC) rather than relying on futures as cash-based ETFs do. This update to the ETF model aims to address the SEC's persistent preference for cash-oriented Bitcoin Spot ETFs. Despite BlackRock's efforts to provide a product that would allow investors to trade actual Bitcoin, the SEC has historically been cautious about approving ETFs tied directly to the volatile cryptocurrency...

Cryptocurrency enthusiasts have witnessed Bitcoin's significant recovery as the digital currency surpassed the $38,370 mark on Tuesday. This latest surge reflects a growing interest in cryptocurrencies and is buoyed by expectations of a shift in Federal Reserve policy towards lowering interest rates, amid signs of slowing inflation. Bitcoin has climbed an impressive 129% this year, after a tumultuous 2022 which saw the cryptocurrency take a steep dive. The upbeat mood in the crypto market has been further amplified by comments from Fed governor Christopher Waller, which suggested that the central bank could consider reducing rates, a move that traditionally benefits risk assets like cryptocurrencies. Despite the U.S. Securities and...

Interactive Brokers (NASDAQ:IBKR) Hong Kong has broadened its financial services to include cryptocurrency trading for retail clients, streamlining portfolio management through a single integrated platform. This move, which allows clients to manage assets like Bitcoin and Ethereum alongside traditional investments, is aimed at simplifying the investment process without incurring additional spreads or markups. The service, which originally launched for Professional Investors on February 14, 2023, now offers retail investors the same centralized cash management and automated trade execution. Clients can expect competitive commission rates ranging from 0.20%-0.30%, maintaining a minimum order cost of $2.25. This expansion positions...

The global cryptocurrency market may be on the cusp of a significant shift, with key financial players like BlackRock Inc (NYSE:BLK). and Nasdaq engaging in discussions with the U.S. Securities and Exchange Commission (SEC) on Sunday evening regarding the listing of spot Bitcoin ETFs. The meeting comes at a time when the global crypto market cap has seen a slight increase to $1.42 trillion, while Bitcoin itself has climbed to $38,300. According to a report by Santiment, this uptick in Bitcoin's price coincides with top Tether holders accumulating an extra $1.67 billion over the past six months. Such whale activity often precedes further price increases for Bitcoin, suggesting that if these trends continue, the market could see...

The world of decentralized finance is buzzing with the rapid rise of Blast, an Ethereum layer-2 network initiative that has garnered over $405 million in total value locked (TVL). Under the stewardship of Tieshun Roquerre, Blast promises high yields from DeFi projects such as Lido and MakerDAO, advertising "risk-free" staking rewards. This claim has raised eyebrows within the crypto community, with many experts questioning the true absence of risk in staking and expressing concerns about transaction security, particularly regarding the use of anonymous keys. Despite the enthusiasm surrounding the project's ability to attract significant investment, there is a growing chorus of skepticism. Critics have drawn parallels between Blast’s...

The cryptocurrency platform Blast, under the leadership of Tieshun "Pacman" Roquerre, who also founded Blur, has found itself at the center of controversy due to its launch strategy. The platform, which has recently gathered $405 million in total value locked (TVL) for its upcoming Ethereum layer-2 network, is being scrutinized for its resemblance to a Ponzi scheme and for the security concerns raised due to the need for anonymous keys in transactions. Investment firm Paradigm, an early backer of Blast with a $20 million seed investment, has openly criticized the platform's approach. Dan Robinson of Paradigm took to social media on Sunday to express concerns over Blast's decision to release a bridge before its layer-2 platform and the...

The recent weeks have seen a significant shift in the Bitcoin network's dynamics, with transaction fees experiencing a notable decrease while miner revenue for November outstripped that of the previous month. On Thursday, data analysis revealed that the average cost of Bitcoin transaction fees had fallen to $5.89, with the median fee at $2.86. This marked a substantial drop from the fees earlier in the month, which had risen above $18 per transaction. Despite the lower fees, blockchain usage remained robust, with around 347,791 inscriptions processed on that day. The network's activity had surged around Saturday last week, with a record-breaking number of over 475,000 transactions indicating strong engagement. This high level of usage...

FRANKFURT - In a recent town hall meeting, European Central Bank (ECB) President Christine Lagarde highlighted the volatility and risks of cryptocurrency investments by sharing a personal anecdote about her son's substantial loss in the crypto market. She recounted how her son faced a 60% loss on his cryptocurrency investment, which underscored her long-standing concerns about the sector. Lagarde has been vocal about the need for stringent global regulation of cryptocurrencies, associating the digital assets with illegal activities and speculative trading. Her son's experience served as a case in point for the potential dangers that investors may encounter in the largely unregulated market. The ECB is concurrently advancing its work...

Cryptocurrency markets have been a focal point for investors seeking signs of stability and growth potential, and XRP appears to be a standout in the recent tumultuous trading landscape. After facing a significant market sell-off exacerbated by Binance's legal issues, XRP has shown remarkable resilience. On Sunday, the digital currency demonstrated strength by rallying from a support level of $0.57. The rebound follows a substantial 22% drop from its early November peak of $0.734. XRP's technical chart is now suggesting an 18% surge if the bull flag pattern holds true, with resistance targets set at $0.732 and potentially extending to $0.75. The bull flag pattern, which consists of an initial price gain followed by a period of...

Coinbase (NASDAQ:COIN) is set to expand its international offerings by introducing perpetual futures contracts for several high-profile cryptocurrencies. On December 30, the Coinbase International Exchange will list perpetual future contracts for Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), and Stellar (XLM). This development comes as part of the company's strategic plan to diversify and enhance services for its non-US clients. The new perpetual contracts will enable continuous trading opportunities for investors without an expiration date, providing flexibility in trading strategies. Each of these digital currencies has been chosen for specific strengths they bring to the market. ADA is recognized for its eco-conscious...

The Ethereum network is poised for a significant upgrade with the introduction of EIP 4844, which aims to dramatically reduce transaction fees on Layer 2 (L2) solutions by as much as sevenfold. This development is a strategic move to address the challenge of achieving global ubiquity by increasing data bandwidth within the network. According to expert Ryan Berckmans, the upgrade is expected to result in a more efficient market for data storage, known as "blob market clearance," and enhance network throughput by six times. Importantly, these improvements will be achieved without impacting gas costs on Layer 1 (L1), ensuring that execution costs remain stable. The activation of EIP 4844 is scheduled for the first quarter of 2024, a...

The digital currency Ethereum (ETH) is currently exhibiting stability, trading within a local channel at $2,079 on an hourly chart. Market observers note that while significant price movements are not expected today, the cryptocurrency appears ready for a sharp fluctuation. Over the past week, Ethereum has seen a notable increase of 6.44%. Traders are closely monitoring its performance, particularly if it manages to sustain above key price levels. A sustained position above $2,120 on the daily chart or near $2,100 at bar closure could indicate an impending breakout from resistance levels. Investors and market participants remain watchful as Ethereum's current stability may precede volatility in the near term. The crypto market is...

In a significant development in the cryptocurrency industry, Changpeng Zhao (CZ), the CEO of Binance, has stepped down from his position following a substantial $4.3 billion fine imposed by U.S. authorities. The penalty is related to the platform's involvement in enabling antagonistic markets. Cardano's founder, Charles Hoskinson, delivered a heartfelt tribute to CZ during a livestream, acknowledging his considerable influence on the crypto sector. Hoskinson highlighted CZ's role in transforming the landscape from its early days of Bitcoin trading to establishing sophisticated platforms like Binance, which became a behemoth in the industry. While addressing the situation, Hoskinson made a distinction between Binance's regulatory...