Markets

The possibility of FTX reopening its crypto exchange services under the new management has been tagged feasible by some industry observers. The FTX derivatives exchange, the bankrupt cryptocurrency trading platform, has recently unveiled its plans to revive its international crypto exchange, according to reports by Wall Street Journal. This decision comes in the face of a tarnished reputation, as its bankruptcy caused a series of setbacks and challenges that have affected its standing...

KuCoin CEO noted that the increased adoption of cryptocurrency has pushed the number of related security issues higher. Leading cryptocurrency exchange KuCoin has introduced additional checks to its KYC verification process. In a bid to comply with global anti-money laundering regulations, the firm announced the KYC system upgrade on June 28. As part of the upgrade, all new users will have to complete mandatory identity checks from July 15. Without this, such users will not have access to...

Innoviti processes over $10 billion in transactions annually across more than 2,000 cities in India.  Innoviti Technologies, an Indian fintech startup, is exploring a fresh funding round that could potentially value the company at approximately $350 million, Bloomberg reported on June 28, citing people familiar with the matter. According to the report, the company seeks to raise around $25 million in the financing round to boost its business offerings and increase its market dominance....

The UK Law Commission has submitted its proposal to the government to provide a comprehensive legal foundation for digital assets. As crypto adoption grows in the UK, lawmakers have started demanding a proper law base governing digital assets. The UK Law Commission has proposed having proper crypto rules to make the country a global hub for digital assets and non-fungible tokens. In a report on Wednesday, June 28, the independent panel of the Law Commission noted that the long-awaited...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Solana price started a decent increase above the $16.00 resistance against the US Dollar. The price is now trading below $16.50 and the 55 simple moving average (4 hours). There is a major bullish trend line forming with support near $16.20 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Bitcoin price started a fresh increase above the $28,500 zone against the US Dollar. The price is now trading above $28,500 and the 55 simple moving average (4 hours). There is a major bullish trend line forming with support near $29,800 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The...

Jeremy Allaire – co-founder and CEO of the stablecoin-issuer Circle – said his company has been closely observing the regulatory developments in Hong Kong.  The authorities of the former British colony have recently allowed investors to trade cryptocurrency under a new regime as they carry “fundamental value.” Asia is a ‘Huge Area of Focus’ In a recent interview for Bloomberg, Allaire noted Hong Kong’s efforts to establish itself as a “very significant center for digital...

Bitcoin Cash (BCH) – the most popular hardfork of Bitcoin (BTC)’s blockchain – is up over 117% this week, outperforming Bitcoin’s still sizable 15% rise. As of this writing, its the only coin to see anything close to 2X gains within that time frame. What’s attracting traders and investors to the large-blocker network? Let’s dive in. Bitcoin Cash’s EDX Listing Bitcoin Cash’s seismic gains began on June 21, precisely when the Wall Street-backed crypto exchange EDX Markets...

Despite a few headwinds Wise has recently faced, the company’s stock jumped after revealing a spike in profits and revenue. British fintech online money transfer firm Wise’s (LON: WISE) stock jumped almost 18% on Tuesday in reaction to a rise in company profits. In a recent statement, the London-based fintech noted that its profit before tax tripled to £146.5 million ($186.5 million). The company also reported that its earnings per share tripled to 11.53 pence. According to data from...

The Bank of England (BoE) has made extensive research on the best format for developing a digital pound to supplement the fiat system. The Bank of England (BoE) is working on re-establishing the pound as the preferred global reserve currency through a Central Bank Digital Currency (CBDC). The rise of the digital economy post-Covid-19 global pandemic through the cryptocurrency market has most governments thinking about moving to decentralized ledger technologies (DLTs). Moreover, the use of...