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Crypto News

Major Banks Set to Embrace Bitcoin Custody, Says Michael Saylor

MicroStrategy's Michael Saylor predicts that major banks will offer Bitcoin custody services, citing the challenges of self-custody. He believes institutions like banks, governments, and non-profits will require Bitcoin for it to become universal. Saylor points out that entities like the City of New York and the Defense Department cannot personally hold Bitcoin, necessitating custodians. He also emphasizes the need for trust companies for individuals who can't self-custody, such as children or those with dementia. Saylor concludes that Bitcoin's integration into traditional institutions is inevitable for economic, physical, and political reasons.

Finbold - 1190 ngày trước

CEO's Legal Billings Signal Reboot of FTX Exchange as FTX 2.0

FTX's CEO, John Ray III, overseeing the bankruptcy proceedings of the defunct crypto exchange, has hinted at the possibility of its revival. Recent billing reports indicate that Ray has dedicated time to reviewing and finalizing materials related to a potential "2.0" reboot of the exchange. While no official announcement has been made, Ray previously expressed a willingness to explore options for relaunching the exchange. However, skeptics argue that the exchange's history of technical failures, including high latency and software bugs, which contributed to its financial collapse in 2022, make a revival unlikely.

CoinGape - 1190 ngày trước

Cardano's Transaction Volume Skyrockets by 200% Amidst Crypto Downturn

Cardano (ADA) is defying the bearish trend in the cryptocurrency market with impressive results. The daily transaction volume has grown by 205.01% since the start of the year, reaching over 26 billion ADA per day. The transaction count has remained stable, witnessing a 33.45% increase from yearly lows and a three-month high of 98,000 transactions in one day. Traders between $10 and $100 accounted for 28% of all transactions during the peak period. Additionally, ADA whales have been accumulating, with spikes of over 1,500% in net flows by large holders.

Finbold - 1191 ngày trước

Hong Kong Will Allow Retail Investors to Trade Crypto Under Its New Rulebook

Hong Kong's Securities and Futures Commission (SFC) is expected to announce new rules allowing retail investors to trade cryptocurrencies such as Bitcoin and Ether starting from June 1. The move is part of the city's efforts to establish itself as a leading financial center. The regulator plans to implement safeguards such as knowledge tests and reasonable exposure limits to ensure secure and compliant retail trading. The decision is anticipated to reflect the digital asset community's belief that safe retail trading is vital for a robust virtual asset ecosystem.

bloomberg - 1191 ngày trước

Upcoming Months to Bring More Rallies for Crypto and Tech Stocks, Says Raoul Pal

Former Goldman Sachs executive Raoul Pal predicts that crypto and technology stocks will experience a significant rally soon. Pal believes that central banks worldwide will be compelled to print money, leading to increased liquidity and boosting risk assets, particularly the crypto and tech sectors. Despite confusion surrounding the bond trade and the debt ceiling issue, Pal suggests that any situation causing financial market paralysis will result in additional stimulus. He emphasizes that even if the economy slows down, central banks are likely to expand the money supply, driving asset prices higher.

The Daily Hodl - 1191 ngày trước

Crypto Exchanges Witness Massive $1.77B Bitcoin and Ethereum Outflow in 30 Days

The crypto market has remained stable in May, but a significant amount of Bitcoin and Ethereum has been withdrawn from centralized exchanges. In the past month, 43,301 BTC, valued at $1.16 billion, left the platforms, indicating a growing trend of investors moving their assets. Binance holds the largest Bitcoin reserve, but experienced an outflow of 10,102 BTC, while Coinbase saw a modest increase. Additionally, there has been a notable outflow of Ethereum, with approximately 340,000 ETH, worth $613.71 million, leaving exchanges. The combined outflow of both assets amounts to $1.77 billion.

Bitcoin News - 1191 ngày trước

Strike Announces Partnership with Tether to Facilitate USDT Transactions

Digital payments platform Strike has integrated Tether's USDT stablecoin into its platform, allowing for fast and secure payments. The integration aims to increase the use and adoption of USDT while providing Strike users with the ability to transfer cryptocurrencies without worrying about volatility. Tether's CTO, Paolo Ardoino, believes this collaboration signifies the acceptance and recognition of stablecoins as reliable digital payment solutions. Strike states that the integration will reshape the crypto industry and create new opportunities for seamless digital transactions.

CryptoSlate - 1191 ngày trước

Dubai Leads the Way with Plans for the World's First 'Bitcoin Tower'

Dubai-based developer Salvatore Leggiero plans to unveil the world's first Bitcoin Tower, a hotel chain highlighting the importance of digital assets and cryptocurrencies. The tower, shaped like Bitcoin, will integrate blockchain and AI technologies, prioritize sustainability, and offer guests NFTs with special utilities. By staking cryptocurrencies, guests can earn an APY that offsets their rental payment. He aims to bridge the gap between digital and physical assets, inviting global artists and crypto enthusiasts to contribute to the project. Dubai aims to become a leading cryptocurrency innovation hub and redefine real estate norms.

Finbold - 1191 ngày trước

Michael Saylor Supports Ordinals Protocol, Sets Sights on Global Bitcoin Expansion

Michael Saylor, CEO of MicroStrategy, recently voiced his support for the Ordinals protocol, praising its potential to drive global Bitcoin adoption. The decentralized network aims to make Bitcoin accessible to all through a user-friendly experience. Saylor believes that the protocol's intuitive design can overcome existing barriers to widespread Bitcoin acceptance. He emphasized the significance of education and awareness in advocating for Bitcoin and blockchain technology's advantages. Saylor's support for the Ordinals protocol demonstrates his dedication to advancing Bitcoin's mainstream acceptance and his confidence in its transformative capabilities.

CryptoSlate - 1192 ngày trước

The Kingdom of Bhutan's Business Division Dives into Crypto with Bitdeer Collaboration

Druk Holding & Investments (DHI), the business division of Bhutan’s Royal Government, is exploring crypto initiatives and has partnered with Bitdeer to develop green digital asset mining operations. DHI aims to invest in a more sustainable domestic economy and be at the forefront of global innovation. The collaboration with Bitdeer involves launching a carbon-free digital asset mining datacenter and establishing a 100-megawatt bitcoin mining facility in Bhutan. DHI's CEO believes that the mining sector is the least risky vertical and aligns with their future-facing investment strategy.

Bitcoin News - 1192 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước