• 12m

    ago

    by

    DLNews

    Crypto brokerage FalconX bets risk-hungry millennials will unlock $41bn in Asian family wealth

    Crypto brokerage FalconX bets risk-hungry millennials will unlock $41bn in Asian family wealth

    TL;DR:

    • Money managers are trying to take advantage of a generational shift in wealth.

    • Wealthy families in Singapore, Hong Kong, and other parts of Asia are increasingly interested in cryptocurrency.

    • In the Bitcoin exchange fund era, money managers remain sceptical of digital assets because of their lack of transparency and regulatory challenges.

    • Matt Long, general manager of digital asset prime brokerage FalconX, aims to change this situation.

    • People from the millennial and Gen Z generations, who have a cultural predisposition to market risk, are seen as the key catalyst for this change.

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  • 57m

    ago

    by

    CoinTelegraph

    Hong Kong ends license application drive for crypto exchanges

    Hong Kong ends license application drive for crypto exchanges

    TL;DR:

    • Hong Kong has stopped accepting license applications from crypto exchanges as of Feb. 29.

    • The Securities and Futures Commission (SFC) of Hong Kong requires all noncompliant trading platforms to close their business locally by May 31, 2024.

    • The SFC has urged investors using virtual asset trading platforms to migrate to licensed providers.

    • OSL Digital Securities and HashKey Exchange are the two licensed crypto trading operators in Hong Kong.

    • The SFC received license applications from 22 crypto trading platforms, including four exchanges that had applied under the SFC’s previous opt-in regime for crypto trading platforms.

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  • 57m

    ago

    by

    CoinTelegraph

    Memeinator smashes past the $5M mark

    Memeinator smashes past the $5M mark

    TL;DR:

    • Memeinator currently recorded over $5.2 million in presale buys.

    • Earlier this month, Memeinator announced a partnership with Red Apple Tech for the development of the Meme Warfare game.

    • Head of Product, Marco Tonetti, said that the market knows what we're about: delivering a fun project with genuine longevity.

    • Memeinator is available to buy on the official site.

    • Memeinator's mission is to make meme coins fun and rewarding again while fighting back against the half-baked projects that have come to define the sector.

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  • 57m

    ago

    by

    CoinTelegraph

    NFT forensics beyond analytics: How bitsCrunch aims to be the "one-stop shop" for digital asset data

    NFT forensics beyond analytics: How bitsCrunch aims to be the "one-stop shop" for digital asset data

    TL;DR:

    • "We’re like CoinMarketCap/CoinGecko for NFTs, with forensics on top" - is how project Unleash NFTs was described by Vijay Pravin.

    • The project Unleash NFTs represents the next generation of AI-powered NFT data analytics tools.

    • In 2023, bitsCrunch raised $4 million through a community sale on CoinList, nearly breaking the time record.

    • Founder and CEO Vijay Pravin, sees his projects as game-changers for the industry.

    • Vijay Pravin mentions that digital assets are the future, but current systems in Web3 lack trust and transparency.

    • This lack of trust and transparency stems from the ease with which NFTs can be copied and faked.

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  • 1h 4m

    ago

    by

    DLNews

    Bitcoin ETFs’ $7.6bn record lures brokers as Morgan Stanley circles: ‘Demand like this they gonna have to expedite’

    Bitcoin ETFs’ $7.6bn record lures brokers as Morgan Stanley circles: ‘Demand like this they gonna have to expedite’

    TL;DR:

    • Bitcoin ETFs' daily trading volumes reached a record high of $7.6 billion on Wednesday.

    • BlackRock's Bitcoin ETF leads with volumes above $3.3 billion.

    • The surge in trading has put pressure on large brokers like Morgan Stanley to offer Bitcoin ETFs.

    • Demand for Bitcoin ETFs is showing no signs of slowing down, says Bloomberg ETF analyst Eric Balchunas.

    • IBIT, BlackRock's spot Bitcoin ETF, is particularly in demand.

    Read full story


  • 1h 31m

    ago

    by

    CoinTelegraph

    Hong Kong allocates $383 million for Cyberport AI scheme

    Hong Kong allocates $383 million for Cyberport AI scheme

    TL;DR:

    • The US government has transferred a total of $922 million worth of Bitcoin seized from Bitfinex in 2016.

    • The transfers occurred the same day as Bitcoin breached $60,000 for the first time in over two years.

    • Bitcoin rose 5.52% in the 24 hours leading up to 9:45 pm UTC, to trade at $62,507.

    • The first test transfer, worth 1 Bitcoin, occurred 3:39 pm UTC on Feb. 28.

    • The government seized these funds back in 2016 after Bitfinex was hacked for approximately 119,754 BTC, worth over $7.4 billion at its current price.

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  • 1h 52m

    ago

    by

    CoinTelegraph

    BinaryX IGO to list Project Matthew: Build a space city with ERC-404 NFTs

    BinaryX IGO to list Project Matthew: Build a space city with ERC-404 NFTs

    TL;DR:

    • BinaryX announced the launch of their first Initial Game Offering (IGO) of the year, Project Matthew.

    • Project Matthew is a space-building simulation game where players work as builders and engineers.

    • Players can own fractionalized ERC-404 NFTs exchangeable for in-game land, weapons, and other materials.

    • ERC-404 tokens provide users with liquidity and open up possibilities for future ownership.

    • The innovative use of ERC-404 tokens is expected to promote collaboration and community.

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  • 1h 57m

    ago

    by

    CoinDesk

    Floki Developers Plan to Burn $11M Tokens, Reducing Supply by 190B FLOKI

    Floki Developers Plan to Burn $11M Tokens, Reducing Supply by 190B FLOKI

    TL;DR:

    • Floki developers propose burning 2% of the circulating supply to increase scarcity and network security.

    • Burn suggests permanently removing tokens from circulating supply by sending them to a crypto wallet that no one controls.

    • Tokens for the proposed burn will originate from the supply stored on the Multichain bridge.

    • Lead developer B told CoinDesk in a Telegram message that proposal suggests a burn of 190,918,585,431.84 $FLOKI tokens.

    • In January 2023, Floki conducted a similar burn event, resulting in a 70% price spike in the days following the event.

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  • 2h 32m

    ago

    by

    CoinDesk

    Crypto Miners Still Selling Their Bitcoin as Reward Halving Looms, Blockchain Data Show

    Crypto Miners Still Selling Their Bitcoin as Reward Halving Looms, Blockchain Data Show

    TL;DR:

    • The number of BTC held in wallets tied to crypto miners has declined by 8,426 this year.

    • Impending reward halving and the dry season in China might explain why miners are running down their coin stashes.

    • The number of bitcoin held by crypto miners has dropped to the lowest level since July 2021.

    • Data tracked by Glassnode shows the estimated number of BTC held in wallets tied to miners fell by $530 million since the start of the year to 1,812,482 BTC.

    • The halving, a quadrennial event due in April, will reduce the miners' reward.

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  • 3h 21m

    ago

    by

    CoinTelegraph

    Hong Kong allocates $383 million for Cyberport AI scheme

    Hong Kong allocates $383 million for Cyberport AI scheme

    TL;DR:

    • The Hong Kong government will allocate HK$3 billion to the Cyberport business park for a three-year artificial intelligence subsidy scheme.

    • The financial secretary, Paul Chan, stated this during the 2024 budget announcement.

    • The program will aid local universities, research institutes, and businesses in utilizing the AI Supercomputing Centre’s computing capabilities.

    • The subsidy will also boost cybersecurity and data protection at the center, aiming to attract global AI experts, enterprises, and research projects to Hong Kong.

    • The AI Supercomputing Centre is set to start operating this year and is expected to have a computing power of 3,000 petaflops by early 2026, capable of processing almost 10 billion images per hour.

    Read full story