Source: HKMA The Hong Kong Monetary Authority (HKMA) is set to initiate the second phase of its digital Hong Kong Dollar project next year, focusing on the exploration of innovative applications and reinforcing collaborations across the financial industry. During the Fintech Foresight Seminar held by Hong Kong 01, HKMA Chief Fintech Officer Nelson Chow stated...
Binance has lost a big share of its total trading volumes since ending its zero fees on Bitcoin pairs and in wake of the US Commodity Futures and Trading Commission (CFTC)’s lawsuit against the firm. That’s according to the latest blog post by crypto analytics firm Kaiko, which says that Binance’s market share has dropped...
In a sign of dedication to its efforts to launch a spot Bitcoin Exchange Traded Fund (ETF) in the US, Grayscale Investments is trying a new approach. The digital asset manager, currently the world’s largest, announced on Wednesday the formation of a new trust, Grayscale Funds Trust. The new Delaware statutory trust structure will allow...
An analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange’s regulatory issues. Mark Palmer, an equity research analyst at Berenberg Capital Markets, said the US Securities and Exchange Commission will likely file an enforcement action against Coinbase as the commission increases its scrutiny of the crypto sector. ...
JP Morgan Chase has filed a trademark application with the US Patent and Trademark Office for a finance-themed AI chatbot named “IndexGPT.” According to the application filed earlier this month, the tool is intended to assist investors in selecting financial securities and financial assets. The application suggests the AI chatbot will provide investment advice in “financial investment...
Shares of major US-based cryptocurrency exchange Coinbase plunged 10% after the US Securities and Exchange Commission announced charges against Binance and its founder Changpeng Zhao. Coinbase stock ended the last trading day on Monday trading at $58.71, down by 9.05%, according to data by Yahoo Finance. The sharp drop came after the SEC sued Binance and its...
Following the Securities and Exchanges Commission (SEC) lawsuit, US-based crypto exchange, Coinbase, has received multiple Show Cause orders from US states. The Alabama Securities and Exchange Commission (ASC), alongside ten other US states, filed charges against Coinbase for violating securities laws. States that joined the multi-state task force include Kentucky, Illinois, California, South Carolina, Washington,...
Crypto billionaires have been hit hard by the Securities and Exchange Commission’s crackdown on Binance and Coinbase, incurring huge losses so far this week. Binance CEO Changpeng Zhao, known as CZ, has seen his net worth shrink by $1.4 billion to $26 billion, while Coinbase CEO Brian Armstrong has seen his net worth drop by...
Move-to-Earn fitness platform Sweat Economy has proposed a governance vote to reassign over 2 billion abandoned SWEAT tokens. The protocol had assigned billions of SWEAT tokens to users who signed up during its token generation event (TGE). According to a recent blog post, several users never downloaded the Sweat Wallet app, leaving about 2.5 billion...
A rapidly growing decentralized Twitter competitor, Nostr, is collaborating with Zebedee to design a new social media. This move would enable interoperability between Zebedee’s ZBD app and Nostr apps. Zebedee is a New Jersey-based video game payment platform with over one million Bitcoin wallets, supported by a $46.5 million VC fund. Nostr protocol’s innovation allows...