Table of contents:
- “hong Kong Crypto Corners: Where To Invest For Financial Growth”
- Fire In Large Hong Kong Residential Building Kills At Least 5 People And Injures 27
- Cryptocurrency Buzz Is Not Enough To Lead Recovery Of Hong Kong’s Battered Commercial Property Market, Analysts Say
- The State Of Crypto In Asia
- Hong Kong To Host Major Cryptocurrency Conference In 2025 As City Woos Virtual Asset Firms
“hong Kong Crypto Corners: Where To Invest For Financial Growth” – Share on Twitter Share on LinkedIn Share on Facebook Share on Telegram Share on WhatsApp Share online
Hong Kong is the most crypto-ready jurisdiction in the world, according to a new study, based on the number of blockchain startups per 100,000 residents and the number of crypto ATMs in proportion to the population. A new study from Forex education platform Forex Suggest.
“hong Kong Crypto Corners: Where To Invest For Financial Growth”
Based on the number of blockchain startups per 100,000 residents and the number of crypto ATMs relative to population, Hong Kong is the most crypto-ready jurisdiction in the world, according to a new study from forex education platform Forex Suggest.
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Pradipta Mukherjee is a business reporter and has worked for Bloomberg News and Business Standard in India. Mukherjee has an MBA and a postgraduate degree in economics and focuses on financial markets and business. She is the recipient of the Mary Morgan Hewett Award for Women in Journalism. He also won a Jefferson Fellowship; Thomson Reuters Foundation Scholarship in ‘Social Media and Digital Journalism’ at the Chinese University of Hong Kong; Kiplinger Scholarship at Ohio University, USA; and most recently a National Press Foundation Fellowship on “International Trade.”
Eve is an experienced business reporter and commodities news editor. He previously worked at print and media organizations such as Singapore Press Holdings, Shanghai Metals Market, S&P Global Platts and Argus Media.
Fire In Large Hong Kong Residential Building Kills At Least 5 People And Injures 27
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Indian crypto companies are flocking to Dubai, avoiding high local taxes and finding comfort in the emirate’s favorable regulatory environment. Share on twitter Share on linkedin Share on facebook Share on telegram Share on whatsapp Share online
Could a Bitcoin ETF Push Hong Kong to the Crypto Throne? Top Blockchain & Crypto News: Hong Kong Considers Bitcoin ETF, Ordinal Flips Ethereum NFTs, IPO In Full Progress.
The verdict is already known. Sam Bankman-Fried, the founder and former CEO of failed cryptocurrency exchange FTX, has been convicted in what US prosecutors are calling the largest case of financial fraud in history.
Philippines Moves To Block Embattled Crypto Giant Binance
With Bankman-Fried facing decades in prison for his role in the collapse of FTX – a devastating blowup that has contributed greatly to the digital asset market’s woes in the past year – the industry is now watching.
The special administrative region was back in the news this week when Julia Leung, head of the Hong Kong Securities and Futures Commission (SFC), gave her first international media interview since taking office in January. Leung said regulators are happy to try out any innovative digital asset proposals that “improve efficiency and customer experience.”
Willingness to deal in digital assets specifically includes the Bitcoin Exchange Traded Fund (ETF). The financial instrument – which allows investors to trade Bitcoin on traditional exchanges at any time of the day – is expected to bring much-needed institutional money into the sector.
This is especially true in the United States, where investment giants such as BlackRock are reporting Bitcoin ETFs. A new wave of excitement has spread to the broader crypto market, with the recent US spot bitcoin ETF buzz pushing bitcoin prices past the $35,000 mark.
Cryptocurrency Buzz Is Not Enough To Lead Recovery Of Hong Kong’s Battered Commercial Property Market, Analysts Say
But Leung also warned. He added a caveat to his comments about positions in bitcoin ETFs that regulators will only consider products that meet a jurisdiction’s strict consumer protection requirements.
Amid talk of the luxury penthouse lifestyle for FTX executives in the Bahamas – Bankman-Fried is known to be friends with local officials – it’s easy to forget that the stock exchange got its start in Hong Kong. Additionally, the city also experienced a massive crypto scandal, with JPEX exchange clients losing over $200 million in investments.
Leung is right to warn against caution, especially as Beijing continues to control cryptocurrencies in mainland China. Hong Kong is considered a “sandbox” for crypto innovation, an area where experimentation can be conducted – both regulatory and otherwise – with a degree of separation from the broader Chinese market.
If the combination of innovation and effective regulation goes according to plan, there is a strong chance that Hong Kong will achieve what is now the region’s main goal: restoring its international reputation as a progressive financial center by becoming a global hub for the digital world. . asset industry. .
Stakingfarm Aiming To Enhance Offerings Following Hong Kong’s Approval Of Bitcoin, Ether Spot Etfs
As fund managers rush to launch Bitcoin spot ETFs in major markets, the financial world is watching as they prepare for a transformative shift in the digital asset landscape. Image: Canvas
Hong Kong’s Securities and Futures Commission (SFC) is considering approving ETFs that invest directly in cryptocurrencies, with regulations to limit new risks.
Regardless of location, Bitcoin ETFs remain in the news this week. The crypto industry sees the arrival of these financial instruments in the US as a necessary panacea to stabilize the crypto market’s record-keeping chip, which has seen a decline of around $2 trillion in the last 18 months since the collapse of FTX. many other digital currencies. Asset company.
But Bitcoin Spot ETFs already exist in Europe and are being quietly accepted. Bitcoin futures ETFs also exist. But aside from an initial spike in Bitcoin prices when ProShares first introduced a Bitcoin futures ETF in the US in October 2021, they also failed to pull down many trees.
The State Of Crypto In Asia
But there is optimism. Bitcoin is up more than 30% since mid-October alone, thanks to suggestions that a US spot Bitcoin ETF is coming soon. Some analysts argue that last month’s price spike should indicate that the market still hasn’t priced in the existence of a Bitcoin ETF. The rise in cryptocurrency prices is simply a way to account for the influx of corporate money that is expected to be generated by this particular financial instrument.
But others, including former Wall Street banker Norbert Gehrker, believe that improving the user experience for investors by creating a US-based Bitcoin ETF is enough to attract more large-scale inflows to the sector.
Gehrke uses the example of the first gold ETF. It was introduced in 2004 and revolutionized the gold market by raising $5 billion in the first 15 months and $10 billion in the first 10 years. Similar expectations exist in the Bitcoin market. We may soon see some jurisdictions looking to take action in the near future, especially if – as expected – the SEC gives its approval early in the new year.
The Bitcoin ecosystem consisting of blockchain artifacts, Ordinal, BRC20, and infinite future iterations surpassed Ethereum’s NFT ecosystem in sales volume for the first time this week.
Hong Kong To Host Major Cryptocurrency Conference In 2025 As City Woos Virtual Asset Firms
A real turning point for Bitcoin occurred this week. Blockchain isn’t just for collectibles, artifacts, or NFTs. Rather, it is a milestone for the Bitcoin blockchain itself, which sees its use as more than just legitimizing payments.
Sales volume for Ordinals, an NFT iteration on the Bitcoin network, is increasing. BRC20 Blockchain, the fungible token standard supported by Ordinals, has actually seen an increase in revenue. Seven of CryptoSlam’s top 10 collections are represented by BRC20. This pool of fungible tokens is selling at prices we’ve never seen before, and the recent integration of Binance’s ORDI token shows that there’s much more in store for the genesis of decentralized finance (DeFi) on the Bitcoin blockchain.
It is fair to say that Bitcoin “reversing” Ethereum is a controversial statement. Many on Ethereum’s side don’t accept it. Comparing BRC20 to NFTs is not the same thing. But comparing non-fungible BRC20 pools with tokenized houses, profile pictures, cars, and fantasy sports assets doesn’t require an apples-to-apples comparison.
The NFT ecosystem is still young, and as it develops, savvy technologists will find ways to turn strange use cases into NFTs. Last month Pokemon cards were sitting in a Brinks safe, this month it’s BRC20, and next year it could be your entire bank account.
Chinese Fund Managers Seek Bitcoin Etf Approval In Hong Kong
Riding a wave of regulatory change and market optimism, Circle is poised to return to the IPO arena with excitement. Image: Circle/canvas
Circle Internet Financial Ltd., the company behind USDC, the world’s second-largest stablecoin, is considering an initial public offering as early as 2024, Bloomberg reported Wednesday, citing unnamed sources.
The public listing landscape is characterized by significant volatility, particularly through special purpose acquisition companies (SPACs). In early 2021, the popularity of SPACs soared, accounting for more than 70% of US IPOs in the first quarter. However, in the following quarter, the prevalence fell drastically to 23%. Intensive scrutiny by the US Securities and Exchange Commission (SEC) since April contributed to this decline.
