Southbound Funds Restricted Despite earlier reports suggesting otherwise, it’s been confirmed that mainland China’s Southbound funds cannot invest in crypto ETFs listed in Hong Kong. This is due to China’s strict regulations on cryptocurrencies. Impact on ETF Debut Hong Kong’s Securities and Futures Commission (SFC) is close to approving Bitcoin and Ether ETFs. However, the…
Saylor’s Optimism Michael Saylor, co-founder of MicroStrategy, believes that global turmoil could actually benefit Bitcoin. He sees it as a hedge against economic uncertainty. Market Realities However, the market hasn’t shared Saylor’s optimism. Bitcoin and other cryptocurrencies have dropped in value since the start of the turmoil. Bitcoin’s Performance Despite Saylor’s expectations, Bitcoin’s performance has…
Price Decline and Market Volatility The crypto market is experiencing a downturn, with meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and others taking a hit. The recent escalation of tensions in the Middle East has rattled investors, leading to a drop in meme coin prices. Meme Coin Volatility Meme coins are known for their…
Binance, a leading cryptocurrency exchange, is launching support for a new layer-1 altcoin project called Omni Network (OMNI) through its Launchpool platform. About Omni Network OMNI aims to integrate Ethereum’s rollup ecosystem into a single network, providing low-latency communication between all Ethereum rollups. It offers a secure and globally compatible architecture, presenting Ethereum as a…
Drone Attack Triggers Market Reaction News of Iran launching drones towards Israel has sent shockwaves through global markets. The Dow Jones Industrial Average futures dropped over 500 points before the market opened, according to CNBC. Bitcoin Price Plunges Bitcoin, the leading cryptocurrency, plummeted from a 24-hour high of $67,936 to a low of $61,514. It…
New York Attorney General Letitia James has accused Citibank of failing to prevent fraudulent wire transfers even after customers reported scams and requested their accounts be frozen. Lack of Effort to Alert Other Banks According to James, Citibank allegedly makes “no effort” to notify other banks about wire fraud in real time. The bank reportedly…
Crypto analyst Ali Martinez warns that the memecoin Pepe (PEPE) could plummet by up to 54% after breaking below a crucial support level. Price Action PEPE is currently trading at $0.0000058, significantly below Martinez’s support level of $0.00000664. A 54% correction from this level could send PEPE as low as $0.000003. Coinbase Listing Impact The…
Cardano (ADA) has been struggling lately, with its price dropping by over 34% in the past month. This decline has caused a significant number of Cardano holders to lose money. Loss-Making Addresses Soar According to on-chain data, over 2.56 million Cardano addresses, representing more than 57% of the total, are now holding at a loss….
Current Situation Bitcoin’s price took a hit on Friday, dropping from $71,310 to $65,370. It’s currently retracing, but there’s a chance it could continue to fall. 4-Hour Chart Analysis On the 4-hour chart, Bitcoin is trading below its 100-day moving average and is trying to break below a trend line. If it succeeds, it could…
Data-Driven Advertising JPMorgan Chase is venturing into a new business: selling financial data to marketers and advertisers. The banking giant will provide companies with data from its 80 million customers through its new venture, Chase Media Solutions. Personalized Targeting The goal of Chase Media Solutions is to enable brands to connect with customers based on…
