Features Crypto News by Thebittimes.Com

1. In Three Days, Nine Ethereum Spot ETFs Experience Combined Outflow of $179 Million link The Ethereum spot ETFs launched this Tuesday, with the nine ETFs collectively seeing an inflow of $107 million and a total trading volume exceeding $1.1 billion on their first day. BlackRock’s ETHA led with an inflow of $266.5 million, followed by Bitwise’s ETHW with $204 million, and Fidelity’s FETH with $71.3 million. In contrast, Grayscale’s ETHE experienced an outflow of $484 million. Despite the strong debut, Ethereum spot ETFs have continued to face outflows since Wednesday. On Wednesday alone, there was a net outflow of $133 million, and on Thursday, a net outflow of $152 million. As of the latest update, the total net asset value of Ethereum spot ETFs is $8.969 billion, with an ETF net asset ratio (market cap relative to Ethereum’s total market cap) of 2.36%, and a cumulative net outflow of $179 million. Major market maker Wintermute anticipates that Ethereum ETFs could attract up to $4 b...

This article is sponsored by Core. Self-introduction My passion for crypto began in 2013 when the concept of Bitcoin as a non-sovereign store of value, or digital gold, blew me away. Then, around the 2017 cryptocurrency boom, I fully dove into the space, fascinated by Ethereum and the possibilities its programmability offered when combined with the decentralized system pioneered by Bitcoin. Fast forward a few years, I navigated my way to Coinbase, where I led the Money Movements Engineering team for three and a half years. My tenure at Coinbase provided me with firsthand experience of the immense innovation, demand, and potential within the crypto sector. Despite the excitement around new block chain technologies pushing the boundaries, Bitcoin consistently remained the cornerstone of the industry. This consistency reinforced my belief that Bitcoin is here to stay and that long-term success in the crypto space hinges on building with Bitcoin as a foundation. That philosophy, in additi...

1. Hong Kong Regulatory News This Week 1.1 Hong Kong Virtual Asset Trading Platform License Transition Period Ends, Platforms like Binance Still Not Fully Withdrawn link According to Hong Kong 01, the transition period for virtual asset trading platforms in Hong Kong has ended nearly a month ago, yet some international platforms remain operational, relying solely on a popup declaration to maintain a presence. Hong Kong 01's testing revealed that major international platforms such as Binance, OKX, and Bybit are still operational. It was found that Binance continues to operate, allowing new account registrations with local IP addresses and Hong Kong identity cards. Additionally, while some platforms do not accept Hong Kong residents, they allow registration with Mainland Chinese identity cards from Hong Kong. OKX, for instance, restricts selecting Hong Kong as an address but permits registration with Mainland Chinese addresses, supports Mainland Chinese ID verification, and allows re...

Author: Jabe This content is provided by a third party and does not represent the views of WuBlockchain On November 10, 2023, Singapore-based Bitcoin mining platform, Bitdeer (NASDAQ: BTDR), announced their partnership with U.S. chip giant NVIDIA. Bitdeer became Nvidia’s first Cloud Service Provider (CSP) partner in Asia to offer DGX H100 SuperPOD cloud services and the company will receive priority supply from the chipmaker to provide GPU cloud services for AI model development and training. The press conference was held at NVIDIA’s office in Singapore, where representatives from both sides made the partnership announcement. NVIDIA, headquartered in Santa Clara, California, was founded in 1993 and is now recognized as the global leader in graphics processing technology. In as early as 1999, NVIDIA defined the GPU which has fundamentally changed parallel computing. In 2020, NVIDIA surpassed Intel in market value, becoming the highest-value chip manufacturer in the U.S.. With the AI rev...

1. SpaceX’s Past Sale of $373 Million Worth of Bitcoin link On August 18th, according to The Wall Street Journal, SpaceX recorded holdings of $373 million worth of Bitcoin on its balance sheets in 2021 and 2022, which were subsequently sold. Additionally, another company owned by Elon Musk, Tesla, liquidated over 30,000 Bitcoins worth $936 million in the second quarter of 2022, accounting for 75% of its initial $1.5 billion Bitcoin holdings. Perhaps in response to this news, Bitcoin briefly dropped to $25,166 on the Binance exchange, experiencing an intraday decline of 13.50%, while Ethereum dropped to a low of $1,550, marking a maximum intraday decline of 14.80%. According to coinglass data, within the last 12 hours since August 18th in UTC+8 timezone, a total of $1 billion worth of positions were liquidated across the entire network, with $483 million in Bitcoin liquidations and $300 million in Ethereum liquidations. 81.3% of these were long positions. As per parsec data, on August ...

Write By Techub News Translate By ChatGPT4 https://mp.weixin.qq.com/s/PsVchR5at6X9nkkZSwrfgg As a virtual bank in Hong Kong, ZA Bank is more receptive to new technologies and industries than its Hong Kong peers. On May 24th, ZA Bank, a Hong Kong-based virtual bank, announced plans to offer digital asset trading services to retail investors. ZA Bank was established by Zhongan International, which is responsible for international business under Zhongan Online Property Insurance Co., Ltd. (HKEX stock code: 6060). In March 2019, ZA Bank received one of the first virtual banking licenses issued by the Hong Kong Monetary Authority and officially began serving Hong Kong citizens in March 2020. In December 2022, the Hong Kong Securities and Futures Commission proposed a plan to allow retail investors to trade large market cap tokens. In April 2023, ZA Bank announced its “Banking for Web3” vision, providing commercial banking services for small and medium-sized enterprises within Hong Kong lice...