Hong Kong, a city renowned for its dynamic financial landscape, may be toying with groundbreaking changes in its digital asset approach. In a recent letter, Mr. Chen Zhihua, President of the Hong Kong Securities and Futures Association, proposed introducing an “Initial Coin Offering (ICO) mechanism” in Hong Kong. The suggestion was one of many made… Continue reading Hong Kong regulator considers allowing ICOs to bolster economic revival
Author: Liam 'Akiba' Wright
AntPool to refund record $3.1M Bitcoin transaction fee after costly user mistake
Bitcoin (BTC ) mining pool AntPool said it would refund 83 BTC, more than $3 million, an unknown user had paid as gas fees for a transaction, according to a Nov. 30 statement. On Nov. 23, CryptoSlate Insight reported that BTC block 818,087, mined by AntPool, had seen fees exceeding 85 Bitcoin. Reports later revealed… Continue reading AntPool to refund record $3.1M Bitcoin transaction fee after costly user mistake
Bitfinex data shows investor trend to cash out on Bitcoin amidst market highs
Quick Take Data from Datamish reveals a Bitcoin market trend on Bitfinex of closing long positions during volatile periods throughout 2023. The start of the year marked the opening of roughly 100,000 BTC long positions. However, following the SVB collapse in March, approximately 12,000 BTC longs were closed. Recently, a similar number of Bitcoin longs… Continue reading Bitfinex data shows investor trend to cash out on Bitcoin amidst market highs
Celsius initiates withdrawals for eligible custody users amid app glitches and login woes
Bankrupt crypto lender Celsius has opened withdrawals for eligible custody users starting Nov. 29, according to a statement on its official handle on social media platform X (formerly Twitter). A Nov. 28 court filing showed that the “eligible custody users” are classified as customers who are “holders of Class 6A General Custody Claims and/or Class… Continue reading Celsius initiates withdrawals for eligible custody users amid app glitches and login woes
US metaverse market to soar to $110B by 2028, fueled by Gen Z, Alpha usage
The metaverse market in the United States is set to expand to a projected value of $110.44 billion by 2028, according to the latest metaverse report by Research and Markets. According to the analysis, the U.S. market, valued at $16.69 billion, is poised for remarkable growth, with a forecasted compound annual growth rate (CAGR) of… Continue reading US metaverse market to soar to $110B by 2028, fueled by Gen Z, Alpha usage
Divergence in futures as crypto margins at historic low, cash options preferred
Quick Take A shift is becoming evident in the crypto futures market as the divergence between cash margin and crypto margin continues to widen. According to recent data by Glassnode, crypto margin has reached an all-time low of below 90,000 BTC. Conversely, cash margin, denoted in USD or stablecoins such as USDT and BUSD, has… Continue reading Divergence in futures as crypto margins at historic low, cash options preferred
FTX seeks court approval to slash US IRS’s $24B claim to zero
The bankrupt FTX estate wants to set the United States Internal Revenue Service (IRS ) $24 billion claims against it to $0.00, according to a Nov. 29 court filing. Earlier in the year, the federal agency had slapped a tax bill worth around $44 billion on FTX and Alameda groups of companies, prioritizing its claims… Continue reading FTX seeks court approval to slash US IRS’s $24B claim to zero
Sam Altman retakes OpenAI helm with a reshaped board featuring Microsoft visibility
Sam Altman has officially returned as OpenAI’s CEO, one week after the AI company reached an agreement in principle to reinstate him, with new changes to the board composition granting Microsoft a seat on the table. In a Nov. 29 memo , Altman revealed that Mira Murati will return to her previous role as chief… Continue reading Sam Altman retakes OpenAI helm with a reshaped board featuring Microsoft visibility
Decentralized mining pool OCEAN by Jack Dorsey joins Bitcoin hash rate surge
Quick Take The Bitcoin mining hash rate continues to experience a significant upturn. The decentralized Bitcoin mining pool, OCEAN , spearheaded by Jack Dorsey, is noteworthy. It has recently commenced operations, reaching an impressive 126 ph/s, or approximately 0.024% of the total hash rate network, estimated at 550 eh/s. Given its decentralized nature, projections indicate… Continue reading Decentralized mining pool OCEAN by Jack Dorsey joins Bitcoin hash rate surge
Ethereum wallet thought to belong to Su Zhu moves nearly $30k
A wallet allegedly belonging to Three Arrows Capital (3AC) co-founder Su Zhu has moved funds for the first time since his arrest months ago. Etherscan records displayed several incoming and outgoing ERC-20 token transactions to and from an address labeled suzhu.eth on Nov. 29. One outgoing transaction involved 3.75 million Gearbox (GEAR) tokens worth under… Continue reading Ethereum wallet thought to belong to Su Zhu moves nearly $30k