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๐Ÿš€๐Ÿš€ Bitcoin enthusiasts, hold on to your hats! Chinese mainland-based equity funds are reportedly applying to launch spot Bitcoin ETFs via their Hong Kong subsidiaries. This comes amid a crypto price surge and Hong Kong's push to become a global fintech hub. ๐ŸŒ๐ŸŒ Among the applicants is Harvest Fund Management's Hong Kong branch, which launched Asia's first futures crypto ETFs in December 2022. They've been awaiting approval from Hong Kong's Securities & Futures Commission (SFC) since January. ๐Ÿ“ˆ๐Ÿ“ˆ Meanwhile, China Asset Management's Hong Kong division is teaming up with licensed crypto exchange HashKey to promote Web 3.0 initiatives in the asset management industry. ๐Ÿค๐Ÿค Although there's no definitive timeline for spot Bitcoin ETFs in Asia, insiders suggest applications could materialize as early as this quarter. โฐโฐ Hong Kong's crypto sector is booming! Bitcoin value soared to around $72,000 recently, nearly doubling from its December value. The CSOP Bitcoin Futures ETF, Hong Kong's largest, saw a five-fold increase in assets under management, reaching over $100 million. ๐Ÿ’ฐ๐Ÿ’ฐ Hong Kong is determined to become a leading global crypto hub. The city plans to regulate OTC trading of virtual assets and enable intermediary institutions to offer various virtual asset services, including futures and ETF trading. ๐Ÿฆ๐Ÿฆ So, keep your eyes peeled, Bitcoin believers! Exciting times are ahead! ๐ŸŽ‰๐ŸŽ‰

๐Ÿš€๐Ÿš€ Bitcoin enthusiasts, hold on to your hats! Chinese mainland-based equity funds are reportedly applying to launch spot Bitcoin ETFs via their Hong Kong subsidiaries. This comes amid a crypto price surge and Hong Kong's push to become a global fintech hub. ๐ŸŒ๐ŸŒ

Among the applicants is Harvest Fund Management's Hong Kong branch, which launched Asia's first futures crypto ETFs in December 2022. They've been awaiting approval from Hong Kong's Securities & Futures Commission (SFC) since January. ๐Ÿ“ˆ๐Ÿ“ˆ

Meanwhile, China Asset Management's Hong Kong division is teaming up with licensed crypto exchange HashKey to promote Web 3.0 initiatives in the asset management industry. ๐Ÿค๐Ÿค

Although there's no definitive timeline for spot Bitcoin ETFs in Asia, insiders suggest applications could materialize as early as this quarter. โฐโฐ

Hong Kong's crypto sector is booming! Bitcoin value soared to around $72,000 recently, nearly doubling from its December value. The CSOP Bitcoin Futures ETF, Hong Kong's largest, saw a five-fold increase in assets under management, reaching over $100 million. ๐Ÿ’ฐ๐Ÿ’ฐ

Hong Kong is determined to become a leading global crypto hub. The city plans to regulate OTC trading of virtual assets and enable intermediary institutions to offer various virtual asset services, including futures and ETF trading. ๐Ÿฆ๐Ÿฆ

So, keep your eyes peeled, Bitcoin believers! Exciting times are ahead! ๐ŸŽ‰๐ŸŽ‰

Aviso legal: Se incluyen opiniones de terceros. Esto no representa asesorรญa financiera.ย Lee los TyC.
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๐Ÿš€๐ŸŽ‰ Bitcoin (BTC) is on a rollercoaster ride! After a brief surge towards $64,000, it's now hovering around $63,000. The past week was less eventful compared to the previous one, where BTC dipped to a two-month low of $56,500. However, the recovery started last Friday, with BTC almost hitting $64,000 by Sunday. ๐Ÿ“ˆ On Monday, BTC even jumped to a 12-day peak of $65,500, but couldn't maintain the momentum and started losing value. Yesterday, it dropped to $60,600, but the bulls didn't let it break below $60,000. Despite minor outflows from US-based spot ETFs, BTC regained traction and almost reached $64,000 again. ๐Ÿ‚๐Ÿ’ช As of now, BTC's market cap is at $1.240 trillion, and its dominance over the alts is at 50.6%. Meanwhile, other cryptocurrencies like Toncoin, WIF, IMX, SOL, KAS, and RNDR are also on the rise. ETH has reclaimed the $3,000 level, while BNB is just below $600. The total crypto market cap has gained around $50 billion in a day and is close to $2.450 trillion now. ๐ŸŒ๐Ÿ’ฐ So, keep your eyes on the crypto market, folks! It's a wild ride, but for BTC enthusiasts, the future looks bright! ๐ŸŒž๐Ÿš€
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๐Ÿš€๐Ÿš€ Get ready, BTC enthusiasts! The crypto markets have been pretty chill recently, trading sideways with a tiny mid-week dip. But hold on to your hats, because we're about to see some action! ๐Ÿ’ฅ๐Ÿ’ฅ On May 10, approximately 18,280 Bitcoin options contracts are set to expire. This could stir up some volatility in the market. The notional value of these expiring contracts is around a whopping $1.15 billion, according to Deribit. ๐Ÿ“ˆ๐Ÿ“ˆ The put/call ratio for this week's BTC options is 0.64, meaning more long contracts are expiring than shorts. The longs are also ruling the roost in open interest (OI) with almost $700 million at the $70,000 and $100,000 strike prices. ๐ŸŽฏ๐ŸŽฏ But wait, there's more! The OI for put contracts is also starting to rise, with around $360 million at the $50,000 strike price. Overall, the OI for Bitcoin call options is more than double the OI for put options, indicating a bullish trader sentiment. ๐Ÿ‚๐Ÿ‚ Trading firms like QCP Capital and Paradigm have noticed a renewed demand for upside call options. Some buyers are even closing existing positions to roll into higher strike calls expiring in July and September. ๐Ÿ”„๐Ÿ”„ Besides Bitcoin, 276,000 Ethereum contracts are also set to expire. These contracts have a notional value of around $840 million and a put/call ratio of 0.74. Ethereum derivatives traders seem to be bullish too! ๐Ÿš€๐Ÿš€ As for the crypto market outlook, it's gained 2.1% on the day to reach $2.45 trillion in total capitalization. Bitcoin dipped below $61,000 on May 9 but has bounced back to tap $63,000 during the Friday morning Asian trading session. ๐ŸŒ๐ŸŒ So, buckle up, BTC lovers! It's going to be a wild ride! ๐ŸŽข๐ŸŽข
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๐Ÿš€Buckle up, BTC enthusiasts! A recent WSJ report alleges that Binance, the crypto exchange behemoth, dismissed an investigator who uncovered market manipulation by DWF Labs, one of its clients. But hold your horses! ๐ŸŽ Binance has denied the allegations, asserting its strict market surveillance program that doesn't tolerate market abuse. ๐Ÿšซ ๐Ÿ”According to the WSJ, Binance's VIP clients, who accounted for two-thirds of the company's total trading volume in 2023, were involved in wash trading and pump and dump schemes. One such VIP client was DWF Labs, which was accused of the same crime in 2023. ๐Ÿ’ฐDWF Labs, which made a minimum of $4 billion in trades per month, supposedly proposed to its clients that it could "drive up" token prices and create "artificial volumes" on the exchange and other platforms. The Binance investigators found that DWF Labs manipulated the price of the Yield Guild Game (YGG) token and six others, processing $300 million in wash trades in 2023. โš ๏ธHowever, when the surveillance team reported DWF's activities to Binance, the crypto exchange fired the head of the project one week later. A Binance executive told WSJ that the investigator was dismissed after an internal inquiry found the allegations against DWF Labs were not "fully substantiated." ๐Ÿ”ˆBinance and DWF Labs have both refuted the WSJ report. Binance emphasized its intolerance to market abuse and its commitment to ensuring healthy competition in the industry. DWF Labs, on the other hand, called the allegations "unfounded" and a distortion of facts. Stay tuned for more updates! ๐Ÿ“ก
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๐Ÿš€๐Ÿ“ข Hot off the press! The Nigerian government is hitting back against allegations made by Binance CEO, Richard Teng, who claimed that officials demanded a $150 million bribe to settle criminal charges against the crypto exchange. ๐Ÿ™…โ€โ™‚๏ธ๐Ÿ’ฐ Rabiu Ibrahim, the Special Assistant to the Minister of Information and National Orientation, dismissed these claims as baseless in a statement released on Wednesday. He accused Binance of using these allegations as a diversionary tactic to shift attention away from the charges it's currently facing in Nigeria. ๐Ÿ˜ฎ๐Ÿ” Earlier this week, Teng published a blog post accusing unnamed Nigerian government officials of demanding a secret $150 million crypto payment to halt investigations into Binance's activities. He also called for the release of two detained Binance executives. ๐Ÿ“๐Ÿ” But Nigeria isn't backing down! Ibrahim insists that the government's investigations will not be deterred by Binance's claims, which he describes as "blackmail". He urged Binance to submit itself to an unobstructed investigation and judicial due process. ๐Ÿ‡ณ๐Ÿ‡ฌโš–๏ธ So, BTC enthusiasts, stay tuned as this crypto drama unfolds! ๐Ÿฟ๐ŸŽฌ
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๐ŸšจCrypto enthusiasts, buckle up! Binance, the world's largest crypto exchange, has been slapped with a $4.4 million fine by Canada for violating anti-money laundering rules last year. ๐Ÿ˜ฎ The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) found Binance guilty of two violations during a compliance activity in 2023. The crypto giant failed to register as a foreign money services business (FMSB) and did not report large virtual currency transactions exceeding $10,000 CAD. A whopping 5,902 transactions weren't reported properly between June 2021 and July 2023. ๐Ÿ“๐Ÿ’ฐ This fine comes hot on the heels of Binance co-founder and ex-CEO, Changpeng Zhao (CZ), being sentenced to four months in prison for failing to implement an adequate know-your-customer (KYC) and anti-money laundering (AML) regime at his exchange. ๐Ÿ˜ฑ But wait, there's more! Binance is currently juggling a massive lawsuit from the Securities and Exchange Commission (SEC) for listing alleged securities on its platform. The firm's current CEO Richard Teng is also wrestling with the Nigerian government to release a detained Binance executive. ๐ŸฅŠ In Canada, Binance has already closed its operations due to its inability to meet the nation's regulatory standards. Meanwhile, Coinbase has recently become the first foreign exchange to gain a full license to operate in the country. ๐Ÿ‡จ๐Ÿ‡ฆ Despite the legal troubles, we remain optimistic about Bitcoin. Stay tuned for more updates! ๐Ÿš€๐ŸŒ•
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