Cooling inflation report is fueling this bull market as the Fed should have no problem skipping a rate hike on Wednesday, said Edward Moya, a Senior Market Analyst with OANDA. Despite a bearish technical analysis indicator, Bitcoin is maintaining support at $25K, and the likely rate hike skip could also impact Bitcoin’s price performance.
Hong Kong’s Crypto Rules Aren’t Attractive to Exchanges
Despite an invitation from a Hong Kong lawmaker, Coinbase is unlikely to move to the territory due to its rulebook. Per rules from the Securities and Futures Commission, Hong Kong’s securities watchdog, there needs to be a 12-month cooling-off period between token launch and listing. Stablecoins are banned, as are crypto derivatives, earn or lend programs, and likely staking services too. Airdrops are a huge no-no.
Hong Kong’s framework as it exists today is highly unattractive, said Leo Weese, co-founder and President of the Bitcoin Association of Hong Kong. Moving to Hong Kong will not automatically shield Coinbase from U.S. regulation or the arm of the SEC.
Bitcoin Infrastructure Firm Blockstream to Unveil Its Long-Awaited Mining Rig in 3Q of 2024
Blockstream, a bitcoin infrastructure firm, is planning to unveil its long-awaited mining rig in the third quarter of 2024. The company expects to raise more capital to fund its mining business.
Binance Goes to Court Against the SEC
Binance and Binance.US have made their case against the SEC’s motion to freeze all Binance.US funds.
Bitcoin, Ether and Stablecoins Total 80% of $1T Crypto Market Cap as Investors Flee Altcoins
The combined market capitalization of BTC, ETH, and stablecoins reached the highest level since February 2021, digital asset research firm K33 Research noted.
Why the XRP Army Keeps Fighting
XRP’s uber-passionate supporters believe the SEC unfairly targeted Ripple for securities violations while mysteriously giving Ethereum a free pass.
Uniswap Labs Releases Its Plan for Uniswap v4, Invites Community Feedback
The biggest decentralized crypto exchange is opening its development process to the public for the first time as the SEC cracks down on its centralized competitors.