Crypto Guides, Knowledge & Insights

Huobi wants to relocate its headquarters from Seychelles to the Caribbean.

According to the Financial Times, Justin Sun, the founder of the Tron ecosystem, has cited the “very friendly” crypto legislation, the English acceptance rate, and its standard legal systems as reasons why the area is a desirable location for the exchange to locate its new operations headquarters.　　After founder Leon Li opted to sell his stock in the company, About Capital Management last month purchased Huobi Exchange. There have been rumors at the moment that Justin Sun had purchased the exchange, but the crypto inventor and billionaire refuted this.　　　　It was then revealed that Sun had been designated as a special adviser to the Huobi Global board and has since had a significant influence on choices relating to the operational effectiveness of the trading platform. Although the specific Caribbean nation has not yet been determined, Panama, Dominica, and the Bahamas continue to be at the forefront of the list, according to Sun.　　As Grenadas official representative at the World Trade Organization, Justin Sun has been expanding his presence throughout the Caribbean during the past year (WTO). In a very positive development for the ecosystem, Sun claimed to have met with Dominicas prime minister Roosevelt Skerrit and that Huobi will assist the island nation

2022-11-03Deep Dive

CEO CZ of Binance reveals that the company may consider investing $1 billion in banks.

The billionaire said he was interested in minority investments or full takeovers but did not name any specific targets. Zhao also noted that Binances decision to pursue investment banking was a wise one since, when working with banks, Binance frequently draws a large number of new customers, which raises the banks perceived value.　　CZ stated during a discussion at the Lisbon Web Summit: 　　“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. Were looking at those things.”　　Zhao has previously stated that Binance seems to have more than $1 billion available for purchases, with its concentration on markets like DeFi and NFTs.　　　　He emphasized that traditional financial institutions and the cryptocurrency market in general are now much more closely related. Despite the harsh winter the cryptocurrency market has had as a result of several circumstances, such as interest rate rises, he claimed that the relationship among digital assets and traditional finance, or “TradFi,” is still growing. There are numerous well-known traditional financial services firms, such as Goldman Sachs Group Inc. and BlackRock Inc.　　According to two persons with knowledge of the situation, Goldman Sachs Group Inc., a major American investment bank, expressed interest in buying ailing cryptocurrency

2022-11-03Deep Dive

Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading

Singapore still wants to be a hub for digital assets, but not for cryptocurrency speculation, according to Ravi Menon, managing director of Singapores central bank, the Monetary Authority of Singapore.　　“If a crypto hub is about experimenting with programmable money, applying digital assets for use cases, or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub,” Menon said on Thursday during his opening address to the Singapore Fintech Festival 2022.　　The process of tokenizing a financial asset entails transforming its ownership rights into digital tokens.　　DBS Bank is putting Singapores first digital money live pilot for government vouchers to the test, allowing businesses to program and self-execute distribution and usage.　　“However, if it is about trading and speculating in cryptocurrencies, that is not the type of crypto center we want to be,” Menon said.　　Singapore aspires to be a worldwide crypto hub, but the government has been cracking down on the business after many retail investors lost their life savings to crypto trading. Due to its volatile and speculative nature, the city-state has frequently warned that cryptocurrency trading is “extremely dangerous and not fit for the general public.” It even outlawed crypto advertising in

2022-11-03Deep Dive

Shiba Inu on Course to Follow Dogecoin Rally Despite Musk's Twitter Purchasing

Data from Santiment suggests that Shiba Inu is starting to gain traction after demonstrating strength in its Bitcoin pair (SHIB/BTC).　　“Whatever side of the fence you are on with meme coins like DOGE and SHIBA, there is no denying that they have had their pump moments. Shiba Inu has historically followed Dogecoin pumps. Watch trading volume on our chart,” tweeted by Santiment.　　With a rise of 50.34% over the previous day, Dogecoin is currently the highest gainer among the major coins. Additionally, over the last week, Dogecoins value increased by 131.23%. The issue was covered by Blockchain.News on Sunday. 　　Shiba Inus are also functioning reasonably effectively at this time. Shiba Inus price, which at the time of publication was $0.000012 USD, had increased 17% in the previous day, making it, after Dogecoin, the coin with the second-fastest rate of growth among the top 20 cryptocurrencies. Shiba Inus pricing performance over the previous week has been outstanding, rising by 24%. With a live market cap of $6,526,276,821 USD, CoinMarketCap now ranks 13th.　　The two meme coins had the biggest increases, in part because of Elon Musks most current efforts regarding the Twitter purchase and in part because of market momentum. As of Thursday, the

2022-11-02Deep Dive

Cardano is surpassed by Dogecoin as it moves up to eighth place among cryptocurrencies.

In the last seven days, the cost of Doge has increased by 131.23%. With a 24-hour trading activity of $15,024,853,397 USD, the Dogecoin price was $0.1344, up 50.34% in the previous day as of the time of publication. 　　Doge is presently positioned #8 with a live market valuation of $17,968,371,819 USD, ahead of Cardano, who is now in ninth place, and Solana, who is presently in tenth place, both with $14.4 billion and $11.9 billion.　　　　The meme currency increased on Monday after speculations that Tesla Motors CEO Elon Musk was planning to purchase Twitters social media network surfaced. Doges bullishness persisted over the course of the week, supported by two essential elements. 　　With the currency selling at $0.072, the price of Dogecoin increased by 14.52% on Wednesday, bringing the 24-hour increase to 21.22%. This week, DOGE has risen as a result of the cryptocurrency market cap growing and surpassing $1 trillion.　　Aside from that, Elon Musks efforts to finalize the Twitter takeover agreement greatly aided Doges rise. On Wednesday, the billionaire showed up at the Twitter headquarters, and on Friday, October 28, the sale was finalized, ending the six-month saga. The problem was discovered by Blockchain.News.　　Due to the possible influence of its

2022-11-02Deep Dive

Is Bitcoin Getting Ready to Leave the Current Bottom?

During intraday trade, Bitcoin increased by 6.6% over the previous seven days to reach $20,626, according to CoinMarketCap. 　　Bitcoin is currently closing in on the lower bound of the achieved price, which is currently set at $21,111. The realized price is the actual acquisition price per coin. It would indicate remarkable strength if it broke above it.　　There is still wealth redistribution. 　　The transfer of coin wealth typically occurs during the Bottom Discovery phase as a result of declining investment profitability forcing weak hands to capitulate under intense financial pressure. 　　　　The existing bear market may still necessitate more consolidation and duration, according to Glassnode, who used the UTXO Realized Price Distribution (URPD) indicator. This is due to fewer coins going to the government than during the 2018–2019 bottom discovery phase, when 22.7% of the available quantity was divided up. 　　The market insight provider noted:　　“Performing the same analysis in 2022, we can see that around 14.0% of supply has been redistributed since the price fell below the Realized Price in July, with a total of 20.1% of supply now having been acquired in this price range.”　　Although Bitcoin is about to leave below bottom, the bear-to-bull shift has not fully developed because there

2022-11-01Deep Dive

Vitalik Buterin Discusses Cryptocurrency Regulation

Before beginning to receive the attention it merits, the crypto industry, in Vitaliks opinion, still has to expand and mature. He also discussed the laws that affect how a crypto ecosystem functions from the inside out.　　“Basically, there are two main classes of regulatory policy goals: (i) consumer protection, (ii) making it harder for baddies to move large amounts of money around. The issues around (ii) are concentrated not in DeFi, but in large-scale crypto payments in general,” Vitalik stated.　　According to his shared beliefs, the Ethereum founder considers regulation that grants internal independence to cryptocurrency projects to be significantly less destructive than that which interferes with the internal workings of cryptocurrency. 　　Also noted by Vitalik was how irrelevant the concept of KYC (know-your-customer) on DeFi (decentralized finance) frontends appeared. He claims,　　“it would annoy users but do nothing against hackers. Hackers write custom code to interact with contracts already.”　　Vitalik went on to say that one of the concepts that is far more logical is KYC on exchanges, which is already happening today. In response to this, he made three suggestions that might be applicable to rules governing DeFi frontends.　　Limits on leverage, disclosure of the audits, FV, or other security checks performed on

2022-11-01Deep Dive

Dogecoin Prompted by Deal, Binance Affirms Equity Investment in Musk's Acquisition

Since Monday, Dogecoins price has increased by 35% as a result of the news that Elon Musk had successfully closed the deal to purchase the social media behemoth Twitter. Following the Tesla CEOs Wednesday modification of his Twitter bio to “Chief of Twit,” Doges price increased by 10%. 　　Musk completed the sale on Friday after a month-long spat with Twitter over it. Elon Musk, the CEO of Tesla, has reportedly signed a $44 billion deal to take over Twitter, a social media and online news company.　　　　Additionally, Musk made the decision to fire key employees like CEO Parag Agrawal and CFO Ned Segal. According to the release, CEO Parag Agarwal and CFO Ned Segal of Twitter have departed the firms San Francisco offices. According to a tweet from CNBC reporter David Faber, the execs “will not be returning.”　　On Thursday, Musk tweeted his enthusiasm over finalizing the purchase of Twitter and revealed the rationale behind the move:　　“Did it [bought Twitter] to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”　　As Musk is reportedly planning to fire some of Twitters employees—up to “three-quarters

2022-11-01Deep Dive

As the USD weakens, Bitcoin surpasses $20,000 and Ether increases

The price of bitcoin officially surpassed $20,000 on Tuesday, October 25. As per TradingView, the biggest cryptocurrency is currently selling at $20,235.75, up 4.06% over the previous day. 　　　　The price of other digital currency has increased as well, notably Ether, which is displaying a strong optimistic feeling. In the past 24 hours, ETH has increased by 12%, and over 15% during the past 7 days.　　　　On BNB Coin, the price of bitcoin has officially surpassed the $20,000 mark and also is currently trading at $289.67. Cardano (ADA) is currently trading at $0.4125, up 14% in the last day, and continues to demonstrate extraordinary growth. Solana reversed its previous weeks downward trend and climbed 6% this week; the price of $SOL increased by 11% in the previous day. Both Polkadot and Litecoin have increased by 2% over the past 24 hours, showing bullish tendencies.　　On October 25, Bitcoin passed the $20,000 threshold as riskier assets gained from the US dollars minor depreciation. The upward movement was accompanied by an increase in US stocks, which in turn was fueled by a weakening US dollar that lost ground against the major trading partners currencies during the day. On Tuesday night, the US dollar index, which

2022-11-01Deep Dive

SBF thinks Hong Kong could become the Web3 hub of Asia

According to Forkast News, FTX creator Sam Bankman-Fried (SBF) stated during Hong Kongs FinTech Week 2022 that Hong Kong has the potential to become Asias Web3 hub.　　According to SBF, cities such as Dubai and the Bahamas are emerging as key crypto centers in their respective regions; however, the picture in Asia is much more hazy. While Singapore and Korea have the potential to become crypto centres in the region, SBF believes Hong Kong will take the crown.　　He stated:　　“If you look at what the worlds crypto centres will be, I think the Bahamas seems like one of them, Dubai looks like one of them, but the East is not as evident.” It may be Singapore, or it could be somewhere in Korea like Busan, but I believe it will be Hong Kong.　　Hong Kong on Crypto　　According to Chainalysis 2022 Global Crypto Adoption Index, Hong Kong ranks 46 out of 146 nations in terms of crypto adoption levels. According to Geminis Global State of Crypto, Hong Kong leads the Asia-Pacific region in crypto-adoption, with 24% of the population possessing crypto assets. In 2021, more than half (51%) of Hong Kongs crypto owners purchased their crypto assets.　　On October 31, Hong Kong issued a policy

2022-11-01Deep Dive

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