Author: Max Bauer

Cryptocurrency analysis firm QCP Capital has issued a positive outlook for Bitcoin (BTC), citing strong spot demand, increased option activity, and growing inflows into Bitcoin spot ETFs. QCP Capital Attributes Bitcoin’s Surge to Options In a recent statement, QCP Capital noted that BTC rallied 2.20% on Wednesday, briefly reclaiming the $68,000 level before settling around $67,000. The firm attributed this surge to heavy buying in long-dated options, indicating that investors are becoming more optimistic about Bitcoin’s prospects. Additionally, QCP Capital highlighted the continued inflows into Bitcoin spot ETFs, which totaled $456.90 million on Wednesday. This marks a four-day winning streak…

Bitcoin prices are experiencing a resurgence, approaching their all-time highs as investors anticipate a perfect storm of favorable conditions. The cryptocurrency’s value surged by nearly 3% on Wednesday, reaching $68,376 before settling slightly lower. Optimism is fueled by a combination of factors, including rising global liquidity, stimulus measures from China, and growing support for a regulatory framework in the United States. Analysts believe these elements could create a favorable environment for Bitcoin and other crypto assets. “After a period of price consolidation, we’re witnessing a convergence of factors that could drive Bitcoin prices significantly higher,” said Brett Munster of Blockforce…

Hong Kong’s Chief Executive has outlined an ambitious plan to establish a leading fintech ecosystem, with a particular focus on virtual assets, as revealed in Article 99 of the 2024 Policy Address. The government’s strategy encompasses a multi-pronged approach designed to solidify Hong Kong’s position as a global fintech hub. Central to the plan is the promotion of Central Bank Digital Currencies (CBDCs) for cross-border payments. The Hong Kong Monetary Authority (HKMA) is actively expanding the mBridge platform, testing and exploring new technologies to facilitate seamless cross-border trade settlements, and broadening participation from both public and private sectors. The government…

The Securities and Exchange Commission’s (SEC) lawsuit against Cumberland DRW, a prominent crypto trading firm, has sent ripples through the industry. The case, which alleges that Cumberland DRW operated as an unregistered dealer in securities, is seen by many as a “warning shot” to other crypto market players, particularly those with traditional finance ties. The SEC’s action against Cumberland DRW, a subsidiary of the established commodities trading firm DRW, marks a significant escalation in its crackdown on the crypto industry. While the agency has previously targeted major crypto exchanges like Binance and Coinbase, this latest lawsuit highlights the SEC’s growing…

Italy is set to significantly increase the capital gains tax on Bitcoin, raising it from 26% to 42%. This move is part of the government’s efforts to finance costly election promises while reducing the fiscal deficit. Prime Minister Giorgia Meloni’s cabinet approved the tax hike, citing the growing popularity of Bitcoin and other cryptocurrencies. Deputy Finance Minister Maurizio Leo stated during a conference call on Wednesday that the “phenomenon is spreading.” While Italy is joining a growing number of countries implementing stricter regulations on cryptocurrencies, the effectiveness of such measures remains uncertain. India’s imposition of hefty digital-asset levies two years…

The disgraced founder of Terra, Do Kwon, has reportedly been able to make several crypto payments from a Montenegro prison despite authorities taking months to seize his crypto wallet login details and various electronic devices. Do Kwon Allegedly Made At Least Two Cryptocurrency Transactions in Prison According to a report by Portal ETV, Do Kwon was arrested in Montenegro on March 23, 2023, but his electronic devices weren’t handed over to the investigating judge until June of that year. This delay, combined with alleged failures in security protocols, may have allowed Kwon to maintain control of his crypto assets. Two…

Cryptocurrency journalist Eleanor Terrett has shared new insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). According to Terrett, Ripple’s Chief Legal Officer, Stuart Alderoty, provided her with an update on the appeals timeline. The SEC is expected to file Form C, which will outline its appeal plans, by tomorrow. Ripple will then have 14 days to respond with its own Form C, detailing its cross-appeal. Both parties will subsequently agree on a briefing schedule. Alderoty anticipates that the SEC will take the full 90 days to file its first brief, which…

JPMorgan analysts, who have historically maintained a cautious stance on the cryptocurrency market, have shifted their outlook to bullish for 2025. The analysts, led by managing director Nikolaos Panigirtzoglou, cited a combination of factors that could drive further growth in the digital asset space. One key factor driving JPMorgan’s bullish sentiment is the emergence of the “debasement trade.” As geopolitical tensions rise and the U.S. election approaches, investors may turn to alternative assets like gold and bitcoin to hedge against economic instability. The analysts believe that a potential Trump win could reinforce this trend, with tariffs and expansionary fiscal policy…

Federal Reserve Bank of San Francisco President Mary Daly reaffirmed on Tuesday that monetary policy is still working to bring inflation pressures down, even after last month’s rate cut. In a speech prepared for an event at New York University, Daly stated that the half percentage point cut in the federal funds rate target implemented in September was a “right-sizing” of the policy stance. While acknowledging the progress made in curbing inflation, she emphasized that the Fed is not letting go of its restrictive monetary policy. “Even with this adjustment, policy remains restrictive, exerting additional downward pressure on inflation to…

TikTok, the popular social media platform, is facing allegations of operating as an unlicensed cryptocurrency exchange in the United Kingdom. A former compliance consultant for a leading private bank has sent a letter to the Financial Conduct Authority (FCA) outlining these claims. The letter asserts that TikTok’s virtual currency system, which rewards users with tokens for engaging with content, can be indirectly exchanged for fiat currency. This, according to the consultant, makes TikTok subject to the FCA’s anti-money laundering (AML) and terrorist financing regulations. “TikTok via its rewards program is facilitating money transmission to [money service businesses] and exchanging, or…