Tag Archives: AA News

Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, has predicted that Bitcoin’s price will reach the $1 million mark by the end of the current decade. In a blog post published on Wednesday, Hayes gave a comprehensive breakdown of how the leading cryptocurrency would reach $1 million in eight years, a value that is 2,500% higher than its current price. The Doom Loop Hayes described a phenomenon he calls “The Doom Loop,” which represents...

Blockchain Association of Singapore (BAS) on Wednesday announced a partnership with American banking major BNY Mellon. As per the MoU, the latter comes on board BAS as a strategic collaborator. BAS’ tie-up with BNY comes in the wake of a generally strict regulatory environment both in Singapore and globally, coupled with an increasing interest of institutional investors in digital assets. The advocacy organization for the blockchain industry appointed Richard Teng, a former...

Renowned fashion designer – Philipp Plein – predicted that more clients will employ cryptocurrencies when purchasing the company’s products this year. He envisioned digital assets to account for between $15.8 million to $21 million of the firm’s 2022 revenue. Crypto to Become a Key Player at Philipp Plein One of the leading fashion companies in Europe – Philipp Plein International AG – jumped into the world of crypto last year by enabling its customers to pay for clothes,...

A research conducted by the aviation company Fast Private Jet estimated that the central European country – Slovenia – is the world’s most crypto-friendly state. Moreover, its capital – Ljubljana – is the most welcoming destination in Europe for digital asset businesses. Central Europe Leads the Way The Italy-based aviation firm – Fast Private Jet – performed a global study to determine which countries have the most venues where cryptocurrencies are accepted as a payment...

According to a recent report from global crypto market real-time data provider CryptoCompare, the total spot market rose by 10.5% in March, with transaction volumes reaching $1.6 trillion. The document further revealed that approximately 69.9% of the total volume was accumulated by 15 of the world’s largest crypto exchanges, including Binance, Coinbase, Bitfinex, OKX, Huobi, FTX, and Kraken. Binance Dominates the Crypto Spot Market Binance alone captured 30.2% of the total...

The millennial-focused exchange Robinhood has experienced a sharp decline in trading activities for Q1 2022, according to the company’s latest financial report. The broader crypto market remaining bearish and the recent global equity selloffs have contributed to the disappointing financial figures, the report suggested. The Q1 report stated that the company’s total net revenue was $299 million, a 43% decrease from $522 million in the first quarter of 2021. Transaction-based...

Fidelity’s bold move of offering investors the opportunity to add Bitcoin to their retirement 401(k) accounts has caused concern from the US Labor Department. Though seeing that the speculative nature of Bitcoin is a worrisome issue as it gets incorporated into the retirement plan open to average Americans, the authority said it had no intention of banning the asset in 401(k)s. Concerns Regarding Cryptocurrency In an interview with the Wall Street Journal, Ali Khawar, acting...

The Chinese authorities will reportedly give away 15 million yuan ($2.3 million) in e-CNY to the residents of Shenzhen’s Futian district. The move aims to boost the adoption of China’s CBDC and promote the financial product among broad society. China’s Latest CBDC Efforts Unlike its hostile viewpoint on digital assets, the government of the world’s most populous country has an entirely different stance on central bank digital currencies (CBDC). Over the past year, the...

Ravi Menon – the head of the Monetary Authority of Singapore (the country’s central bank) – said the nation’s crypto regulations will include a “stringent” licensing process. He believes strict rules could reshape the city-state as a global digital asset hub. MAS Seeks the Balance on Crypto Regulations Despite its rapidly-growing popularity in the last several years, the cryptocurrency sector remains a risky field for retail investors. That is what Ravi Menon – Managing...

The United States Department of Justice (DOJ) has indicted 44-year-old Japheth Dillman, the founder of Block Bits Fund, for misleading investors into committing a total of $960,000 to a false arbitrage autotrader. DOJ Indicts Block Bits Founder Block Bits Fund was founded in 2017 during the ICO era. The company presented itself as a fund dedicated to cryptocurrencies, Initial Coin Offerings (ICOs), and blockchain technology. It promised investors high returns from the profit...