An overview of the cryptocurrency regulations in Singapore ... - cyptoranking.com

2024-04-30

Popular crypto exchanges(2023 Update) 2024-04-30
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The United States economy seems like it is refusing to be derailed. It added a staggering 336,000 jobs in September, defying most expectations. This achievement becomes all the more remarkable against the backdrop of soaring yields on longer-term Treasury bonds and surging mortgage rates.The message embedded in the job data is crystal clear: the world’s largest economy continues to charge forward, even in the face of aggressive monetary tightening. It’s a testament to the economy’s resilience, and suggests that higher interests are here to stay for an extended period. While this news could send shivers down some spines, particularly for those invested in stocks, it’s crucial to understand the bigger picture. Stocks may appear less enticing when you can secure a 6% return with a savings account, yet we may be reaching an inflection point with bonds. It has to get worse before it gets betterThe bond market has witnessed a historic rout, described by Bank of America Global Research as the “greatest bond bear market of all time.” But the analysis isn’t all doom and gloom — there are hints that the relentless sell off in U.S. Treasuries could come to an end. And if we do indeed see a recovery, it could signal the start of a new bull market for risk assets.Related: Bitcoin ETFs: A $600B tipping point for cryptoTurning to crypto, it’s crucial to recognize that short-term Bitcoin (BTC) price action remains somewhat linked to regulatory decisions, particularly those pertaining to a Bitcoin spot ETF. So far, all of the positive news surrounding spot ETFs has failed to move Bitcoin out of its holding pattern. A green light on this front could unleash substantial inflows into BTC, providing the much-awaited impetus for a resurgence. It would also be remiss not to mention the ongoing FTX saga, which is currently playing out in the courts and damaging crypto’s reputation.United States Federal Funds Effective Rate, 1955-2023. Source: Board of Governors of the Federal Reserve System.But here’s the twist — what may spell bad news for financial markets could be good for the broader economy. The Federal Reserve holds a pivotal role in shaping the path for risk assets, and it has just two more meetings before the end of the year. Should the Fed decide to suspend further rate hikes, it could act as a catalyst, triggering market anticipation of an impending rate cut. This anticipation could, in turn, set the stage for a massive risk-on rally across various asset classes, including cryptocurrencies.Festive revelry could set the tone for 2024The last three months of the year often introduce a heightened Santa rally. After the year we’ve had, it might soften the blow and pave the way for a more palatable 2024. History shows that the market tends to gather momentum during this festive season, with a surge in buying activity and positive sentiment among investors. Among these factors, regulatory decisions regarding spot ETFs and any potential pause in rate hikes, or even a shift in the Fed’s messaging concerning future hikes will be watched closely. So while the cheer from September’s jobs data tends to drive immediate headline moves in the market, it doesn’t necessarily steer the long-term thinking of the Fed.Related: Sky-high interest rates are exactly what the crypto market needsLooking ahead into 2024, we are faced with the prospect of a BTC “halvening” in April, historically a positive event for crypto. However, the broader macroeconomic conditions have signalled some signs of instability. Bitcoin’s ongoing correlation with stock markets adds an extra layer of complexity to the equation. The outcome hinges on the messaging from the Fed — and decisions made by the Securities and Exchange Commission (SEC) regarding spot ETFs. If the macroeconomic backdrop remains uncertain, the Fed may pivot toward rate cuts, potentially altering the trajectory of both traditional and digital asset markets. With hints of a bond market recovery and the prospect of regulatory clarity in the crypto space, we could see brighter days ahead. As we approach the festive season, the potential for a Santa rally rekindles the type of hope and momentum that ignites the crypto market. While some challenges may loom, history teaches us that sometimes, it gets worse before it gets better.Lucas Kiely is chief investment officer of Yield App, where he oversees investment portfolio allocations and leads the expansion of a diversified investment product range. He was previously the chief investment officer at Diginex Asset Management, and a senior trader and managing director at Credit Suisse in Hong Kong, where he managed QIS and Structured Derivatives trading. He was also the head of exotic derivatives at UBS in Australia.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. “Is Sisyphus at fault for gross negligence for lying about the Anubis team multisig? Absolutely 100%. Probably a civil case possible for victims,” wrote Zach. An overview of the cryptocurrency regulations in Singapore ...The finale, dubbed Neo Era, will occur at CyberPort in Hong Kong on Oct. 27 and 28. At the finale, participants will compete in one of five categories for a chance to win $10,000 and incubation support. The categories include DeFi and Payment; NFT and Gaming; AI, Social, and DAO; Infrastructure and Tooling; and General. The Bancor (BNT) price increased by 70% over the weekend but could not sustain its increase today.

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If the whale demand for XRP remains steady, the price will likely rebound toward $0.55 in the weeks ahead rather than drop below $0.45. The upcoming Bitcoin halving could cause the price to reach a previous historical maximum or update it. Rekt Capital concludes, Does Coinbase charge fees?Smaller startups may be among the hardest hit. In a recent tweet, BlockTower Capital founder Ari Paul said that there’s a growing market for down rounds of between 70-90% equity. An American cryptographer and programmer, Nick Szabo, was the genius who first proposed the idea of smart contracts back in 1994. Some blockchain community members believe Szabo to be the real identity of Bitcoin’s anonymous inventor, Satoshi Nakamoto. However, Szabo denied these rumors.

Related: Crypto bills could be delayed as many prepare for US gov’t shutdown Santiment tweeted that the XRP ledger has seen less activity compared to 2021 and 2022. What is 1 Ethereum all time high?“To tell the truth or not get a 5K letter, or worse,” Wang replied. Sui Chung: Quite a lot has happened, and then quite a lot hasn't happened. In the meantime, unsurprisingly, the SEC has extended the comment period for the spot bitcoin ETFs.

Beyond the accusations of theft of funds and a corporate coup, the plaintiffs once again raised up the year-old “Miya” scandal involving Okhandiar and his penchant for engaging in callous, antagonizing behavior on the internet. However, Schroé said he thinks bringing together Bitcoin and Ethereum could produce a new array of applications “with decentralization and security as first principles.““EVM is the winning virtual machine, and Bitcoin is the best money,” he said.Magazine: Ethereum is eating the world — ‘You only need one internet’ How much does it cost to cash out of Ethereum on Coinbase?The most likely count suggests that the ongoing correction is part of an A-B-C structure. If so, the LINK price is currently in the C wave of this correction. The data indicates that 64% of the trading volume in these futures instruments comes from ETFs that provide exposure to Bitcoin (BTC) and Ether futures. VanEck's products are listed on the Chicago Board Options Exchange (CBOE), while Proshares and Bitwise have chosen the New York Stock Exchange for their listings.Despite the initial disappointment, Ethereum enthusiasts are pleased with the ETFs as they have created a fully regulated investment vehicle for institutional investors who previously lacked access to cryptocurrency markets.UBS picks the Ethereum network for its tokenization projectOn Oct. 2, Swiss bank UBS announced the launch of a live pilot for tokenized real-world assets (RWA) on the Ethereum blockchain. This initiative, led by Singapore's central bank, involves UBS Asset Management issuing tokens representing shares of a money market fund.This event further validates investor confidence in the Ethereum network's smart contract processing capabilities and security, which has contributed to the positive momentum in Ether's price. The growing use cases for Ethereum justify a higher valuation for its native token, as it is essential for conducting transactions on the network.Grayscale requests conversion of its Ethereum Trust (ETHE)Crypto asset manager Grayscale has submitted an application to the U.S. Securities and Exchange Commission (SEC) seeking approval to transform its Ethereum Trust into a spot Ethereum ETF. Grayscale's Ethereum Trust (ETHE) was initially launched in March 2019 and currently boasts a net asset value of $4.9 billion, equivalent to 2,981,563 ETH held within its structure.Investment trusts, such as ETHE, are legally organized as companies and are categorized as "closed-end funds." Consequently, the availability of shares is restricted, with their price largely determined by supply and demand dynamics. As a result, the creation of ETHE shares is not easily achievable, and there is no active redemption program in place. This situation often leads to significant price disparities compared to the underlying value represented by the ETH fractions held by the trust.Short liquidations push Ether’s price to $1,755Ethereum's price increase on Oct. 1 coincided with short liquidations totaling $23 million in Ether futures contracts, while only $2.4 million worth of long positions were liquidated during the same 12-hour period.ETH total 12-hour liquidation chart, USD. Source: CoinGlassShort sellers were forced to close their positions by purchasing futures contracts at any price, leading to a momentary spike to $1,755 on Oct. 1, marking the highest level in 45 days.It's important to note that the subsequent correction to $1,680 on Oct. 2 triggered the liquidation of $10.8 million worth of long positions, contributing to the market volatility.Ultimately, Ethereum bulls have reasons to feel more optimistic, as a new avenue for investment through traditional stock market brokers has emerged, along with the increasing potential for real-world asset tokenization on the Ethereum blockchain.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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