Hong Kong SAR’s government Financial Services department has highlighted a February 29th deadline for unlicensed Virtual Asset Service Providers (VASP) to make applications to register with the Hong Kong Securities and Futures Commission (“SFC”). If not, any unlicensed crypto entity in Hong Kong will have to cease operations by May 31st. In an official blog…
Bitcoin steady as the U.S. Federal Reserve opts to keep its benchmark fed funds rate range unchanged at 5.25% to 5.5% and ETFs continued to witness strong volume After two weeks of a slow downtrend following the approval of the Bitcoin Spot ETFs, Bitcoin staged a mini-recovery earlier this week reaching $43,707 on Wednesday –…
SVET Markets Weekly Update – Jan 29 — February 2, 2024 On Week 5, the Fed kept the rate unchanged at 5.5%, but hinted at no cuts in March. This didn’t stop the stock market from reaching ATH on all major indexes, with Meta showing a record 20% growth during one day. Simultaneously, manufacturing activity…
Bitget, the world's leading cryptocurrency exchange and Web3 company, has released a comprehensive study focusing on the upcoming Bitcoin halving in April 2024 and its impact on investment decisions The Bitcoin survey, conducted across a diverse global demographic, offers an outlook into crypto investors’ mindset and how they predict the market will change after the…
In 2023, the cryptocurrency industry faced many challenges but showed resilience, overcoming a brutal bear market that saw many of the last cycle’s big names such as Celsius, FTX, and 3AC bankrupted. The year marked a turnaround, setting the stage for a new era in leadership, regulation, and venture creation in 2024. Notably, the approval…
It’s an alarming thought, but in some cases, blockchain mining operations use enough energy to power entire cities. In fact, according to the White House, the total power usage for the cryptocurrency economy is around 180 billion kW hours per year, which is more than the electricity used by all of Australia in the same…
Embarking on the volatile terrain of the Bitcoin market requires strategic acumen and a keen understanding of market dynamics. This article offers insights into navigating the unpredictable fluctuations of this digital asset. Join us as we explore prudent investment approaches, empowering you to make informed decisions in the ever-changing landscape of Bitcoin investments. Navigating the…
A report released by litigation consulting firm Cornerstone Research found that the USA’s top securities watchdog, the Securities and Exchange Commission (SEC) brought a total of 46 cryptocurrency-related enforcement cases in 2023. Crypto-targeted enforcement by the SEC is up 53% from 2022 and is more than double the cases from 2021. By year-end 2023, the…
The BlackRock iShares Bitcoin ETF (IBIT) achieved a significant milestone on Friday by becoming the first among the recently launched spot bitcoin products to amass over $2 billion in assets under management (AUM). However, despite a weekend rally, the market remains uncertain. The BlackRock iShares Bitcoin ETF (IBIT) achieved a significant milestone on Friday…
SVET Markets Weekly Update Jan 22–26, 2024 During Week 4, the economy expanded by 3.3%, and core PCE prices rose by 2.9% year-on-year — the lowest in three years — while Wall Street’s major indices hit record highs. On the global stage, European stocks rose to a five-week high on strong earnings, but the ECB’s…