Recently, Hong Kong’s Bitcoin ETFs faced a setback after experiencing their first cumulative daily Bitcoin outflows since their launch on April 30. The China Asset Management Bitcoin ETF saw an outflow of $4.9 million, marking a significant change in the investment landscape for these products. Despite this setback, the other Hong Kong-based ETFs did not
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Coinbase’s chief legal officer, Paul Grewal, has brought the issue of cryptocurrencies’ legal status to the forefront by calling out US SEC Chair Gary Gensler for allegedly misleading the market. Grewal argues that the SEC chair’s claims that many digital assets are securities are false, citing previous admissions by the SEC’s own lawyers that cryptocurrencies
Bitcoin (BTC) has been facing a price slowdown recently after recovering above $60,000. One of the main factors believed to be contributing to this tepid price movement is the reduced demand for the Spot Bitcoin ETFs. Despite recording billions of dollars in net inflows in the first three months of launch, the demand for these
In recent weeks, Ethereum has shown signs of recovery in a bearish crypto market. While the price has slightly increased by 0.2% over the last 24 hours, there has been a notable change in the ETH burn rate. April witnessed Ethereum’s ETH burn rate hitting an annual low due to a decrease in network transaction
Cardano has been showing signs of recovery from its recent lows, with the price holding steady above $0.45. However, one crypto analyst, known as ‘More Crypto Online’, has a different perspective on the future trajectory of ADA. According to the analyst, the altcoin is currently in a 3-wave corrective rally based on the Elliot Wave
The recent crackdown on crypto firms by the Securities and Exchange Commission (SEC) has raised concerns about how the regulatory landscape may inadvertently be favoring US crypto exchange Coinbase. Bitwise Investments CIO Matt Hougan pointed out in a social media post that the current regulatory environment is creating an “artificial moat” for Coinbase’s operations, potentially
Cryptocurrency analyst and trader Rekt Capital recently shared a compelling insight into Bitcoin’s price trend. He highlighted that BTC seems to be following a historical price pattern from eight years ago, during a previous bull cycle. This revelation suggests that Bitcoin could be on the verge of significant growth in the upcoming months. The 2016
The world of cryptocurrency can be a volatile and unpredictable one, and the recent performance of Friend.tech’s $FRIEND token is a testament to that. In the last hour alone, the token has experienced a 4.3% drop in value, following a trend of red candles in the broader cryptocurrency market. This comes on the heels of
The rise of meme coins in the cryptocurrency market has sparked debates among industry experts, with Chris Dixon from Andreessen Horowitz expressing apprehensions about the regulatory framework in the US. Dixon questions why meme coins, primarily used for humorous purposes and stemming from online communities’ in-jokes, are allowed to flourish while legitimate cryptocurrency companies and
Recently, six Coinbase customers took legal action against the popular cryptocurrency exchange, Coinbase Global, along with its subsidiaries and CEO, Brian Armstrong. The class-action lawsuit, filed on May 5, makes the bold claim that the digital assets offered on Coinbase are, in fact, securities. This includes well-known tokens such as Solana, Polygon, Near Protocol, and