Author: Sanketdalvi

The cryptocurrency market has been experiencing increased selling pressure, which could be linked to the release of the Personal Consumption Expenditures (PCE) index. The higher-than-expected value of the PCE index triggered a correction phase in most major coins, including Ethereum (ETH). The Ethereum price turned down from $1720 and initiated a new bear cycle within a megaphone pattern, hinting at increased volatility and uncertainty. Megaphone Formation and Downside Risk The megaphone pattern is formed by two diverging trendlines and a series of higher highs and lower lows. The ongoing bear cycle with the megaphone pattern puts the Ethereum price at…

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The XRP lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has been making waves in the digital asset industry. While the legal battle rages on, the documents and emails related to the Hinman Speech have become a key talking point. Despite the SEC surrendering its assertion over the Hinman Doc and submitting them to the Ripple and defendants, these vital documents are still not available to the public. In an effort to gain access to them, several requests have been filed in the XRP lawsuit. Empower Oversight Backs Motion in XRP Lawsuit Now, a government watchdog…

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Cryptocurrencies have been making waves in the financial world for some time now, and the rise of blockchain technology has paved the way for many exciting new developments in this space. One of these developments is the concept of a crypto airdrop, which has become increasingly popular in recent years. If you’re unfamiliar with the term, a crypto airdrop is essentially a marketing strategy used by cryptocurrency projects to distribute free tokens to users. The idea is to create buzz around a new project or to reward loyal users with free tokens. In this article, we’ll take a closer look…

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Bitcoin is a digital currency that was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. It’s a decentralized currency, meaning that it’s not controlled by any government or financial institution. Bitcoin is the most well-known cryptocurrency, and its popularity has skyrocketed in recent years. In this article, we’ll explain what Bitcoin is, how it works, and why it’s become such a popular investment. What is Bitcoin? Bitcoin is a digital currency that can be used to buy goods and services. Unlike traditional currencies, Bitcoin is decentralized, meaning it’s not backed by a…

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The Hong Kong Monetary Authority (HKMA) is planning to regulate stablecoins and may require entities that issue stablecoins to establish a locally incorporated entity in Hong Kong. The proposed regulations will apply to entities that actively operate or market in Hong Kong, and could potentially increase the number of licenses required for issuers. Uncertainty Surrounding Non-Hong Kong Stablecoin Issuers The HKMA’s position on non-Hong Kong stablecoin issuers, such as Tether, remains unclear. A representative from the HKMA stated that “regulatory treatment for different types of virtual assets would depend on, among other things, their actual structures and operational details.” Under…

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In its 2023-2024 budget released on Wednesday, Hong Kong has declared its support for the development of Web3, pledging a budget of $6.4 million (HK$50 million) per year towards the cause. This funding will be dedicated to organizing major international seminars, cross-sectoral business co-operation, and workshops aimed at empowering young people. The financial secretary of Hong Kong, Paul Chan, has also formed a task force that comprises members from various policy bureaux, regulatory bodies, and industry sectors, committed to the development of virtual assets. With this task force, Hong Kong is taking significant steps to play a prominent role in…

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Hong Kong has announced a bold plan to become a major player in the world of cryptocurrency by setting up a task force for becoming Leading Crypto Hub to help develop its virtual-asset sector. The city has already outlined a plan to allow retail investors to trade digital tokens, such as Bitcoin and Ether, making it one of the few global financial hubs to embrace cryptocurrencies. Financial Secretary Paul Chan laid out the proposal in his 2023-2024 fiscal year budget speech, stating that a task force would be established to provide recommendations on how the city can achieve its goal…

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Investing in the share market is becoming increasingly popular in today‚Äôs world. However, the recent scam conducted by Vikas Kalda has raised concerns about the safety of investors’ hard-earned money. Kalda, who hails from Ambala, Haryana State in India, has duped hundreds of people with the promise of doubling or tripling their money in a short period through the Crypto World Trading Company. In this article, we will explore the scheme employed by Kalda to lure in investors, the number of people affected, the amount of money involved, and the steps taken by the authorities to deal with the situation.…

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