Sygnum Bank’s Post

📰 The cryptocurrency industry is buzzing with news from all corners. As outlined in Disrupt Technologies latest update, we've seen everything from regulatory shifts in Hong Kong to unexpected findings in Venezuelan prisons. But amidst these stories, we spotlight the rise of crypto debit cards. These innovations symbolize the crypto industry's growth and ambition to fit seamlessly into our everyday lives. It's not just about digital transactions; it's about shaping an inclusive, decentralized, and forward-thinking future. Follow #DisruptTech to keep abreast of the latest in the crypto world. Let's shape the future together. 🤝 🔗 https://lnkd.in/dCAK3Jxa #CryptoTrends #CryptoNews #DigitalEvolution #DecentralizedFuture #CryptoDebitCard #CryptoInsights #DigitalCurrencyNews #Cryptocurrency #CryptoRevolution #FutureIsNow #TechTransformation #CryptoIntegration #DisruptTheNorm #DigitalFinanceRising #BeyondTokens #CryptoHorizon #DecentralizeEverything #NextGenFinance #DisruptTechNews #CryptoPulse #DebitCardEvolution #FinanceRedefined #CryptoEra #BlockchainBuzz #DigitalDisruption #CryptoWave #ModernMoney 

Crypto Derivatives Show Growing Pessimism Around Binance’s Token The negative sentiment is most reflected on the perpetual swap market, a type of futures contract used in crypto markets that do not expire. Data from Coinglass shows that the open interest-weighted funding rate turned negative this weekend, meaning that speculators betting on a price decline are willing to pay those counting on gains to keep their bearish positions on BNB open. Regulatory crackdowns on Binance from Australia to Europe and the US are becoming a drag on the business of the world’s biggest crypto exchange. The heightened scrutiny has also prompted some banking partners to drop Binance, limiting clients’ ability to deposit and withdraw fiat money on the exchange. BNB is the native token of both Binance and Binance-initiated blockchain BNB Chain. The funding rate of BNB turned negative during recent times of turmoil, such as when the US Securities and Exchange Commission filed a lawsuit in June against Binance Holdings Ltd., Binance.US and Changpeng “CZ” Zhao, the founder and owner of the exchanges. Zhao and the companies have disputed the SEC’s allegations. “Last time the OI spiked this much, the SEC news came out so maybe indicative,” Tang said. “But if nothing comes out in a week or so, maybe OI and rates see some relief.” #cryptotrading #bitcoins #bitcoinrecovery #fundrecovery #fundingsolutions www.accessoluns.com

🔸Binance Under Scrutiny 🚨Despite its efforts to align with regulators and secure licenses across various crypto-friendly jurisdictions, Binance now faces unforeseen regulatory hurdles. The exchange's extensive public footprint, established through registrations in Europe, the Middle East, North America, and the Asia-Pacific region, has been the cornerstone of its compliance narrative.   🔍However, recent developments have raised concerns about regulatory arbitrage, a strategy where companies adhere to more lenient rules in one destination to bypass stricter regulations elsewhere. While not unique to the crypto space, this approach has been prevalent within blockchain circles, especially due to the nascent nature of crypto regulations in many countries.  📉As Binance grapples with its regulatory challenges, user sentiment appears to have taken a toll. CCData's recent report reveals a decline in the exchange's share of the crypto spot trading market for the fourth consecutive month in June. Additionally, its derivatives business has faced similar setbacks, conceding market volume to rival OKX.  👔These shifts indicate the evolving dynamics within the crypto exchange landscape, emphasizing the importance of adhering to regulatory frameworks while providing a secure and reliable trading environment for users. #ethereum #bitcoins #bitcoin #economy #economics #investments #defi #DeFi #cryptoworld #cryptonews #crypto #ascenresearch

24/7/2023 (Mon) - #Bitcoin continues to trade sideways around $30,000. Quite remarkably, it has traded within a narrow range of 6.5% over the past 32 days. Prominent crypto analyst Willy Woo believes that the present consolidation could be coming to an end. He notes futures demand as the main driver of the market, and that this demand has been climbing against sideways price action and depicts a bullish bias. The #FOMC Meeting will be held on 26 July. Currently, bond market traders have fully priced in a 25 bps hike of the Federal Funds Rate to the 5.25-5.5% range, followed by a probability of around 80% for the central bank to keep rates at this level in September. Preliminary U.S. Q2 #GDP, to be announced on Thursday, is expected to slow from an annualized growth rate of 2.0% to 1.8%. The Core #PCE Price Index is expected to show further signs of disinflation with a reading of 0.2% MoM compared to 0.3% previously. More #Crypto News: - Societe Generale Becomes First Company to Win French Crypto License https://lnkd.in/gpPnTErc - Nasdaq Halts Plan to Launch Crypto-Custodian Business in US https://lnkd.in/gNnu8xzh - Kuwait Cracks Down on Crypto, Banning Payments, Investment and Mining https://lnkd.in/ei5iqp52 - Chainlink's Interoperability Protocol, Connecting Blockchains to ‘Bank Chains,’ Goes Live https://lnkd.in/g9tNabcG

The question for #defi in 2024 is whether you can bank on #crypto :     Business Post article features Dr Hitesh Tewari, a computer scientist and blockchain researcher at Trinity College Dublin "These were the high-profile scandals that rocked the DeFi sector in 2023, but even more investigations, collapses and shutdowns rippled throughout the year as regulators began to rein in what had become known as a ‘wild west’ industry. Dr Hitesh Tewari a computer scientist and blockchain researcher at Trinity College Dublin, believes that similar cases across the crypto industry are “inevitable” until there is “a seismic change in the broader public’s understanding and use of cryptocurrencies”. The key gap in that understanding, he explained, was in thinking of them as currencies at all. “The fundamental issue with cryptocurrencies like bitcoin is that today they are being used as a value store and not as a currency, as the name suggests.” This misunderstanding, Tewari said, enabled scammers to create pyramid schemes out of token sales underpinned by the idea that those who get involved early stand to profit the most. This ‘get rich quick’ selling point of crypto schemes has been damaging to the reputation of the sector as a whole. Many people have already been burned by crypto investments, hence the regulators stepping in. Regulators are also trying to stop these anonymised, decentralised finance mechanisms being used for criminal activity, and there is hope that these efforts will stabilise the sector." https://lnkd.in/eebjxkwe

[Hong Kong moves to approve spot Bitcoin ETFs] Many Asian countries are racing to establish themselves as a global crypto hub. Check our Hong Kong report to see what other efforts Hong Kong is undertaking. 📰 News TL;DR 1. Hong Kong's SFC publishes rules for spot bitcoin ETFs, highlighting the rising popularity of crypto investment products in Hong Kong. 2. SFC-authorized ETFs with crypto assets primarily use futures contracts, with spot transactions conducted through regulated channels. 3. Hong Kong's inclusive model for spot bitcoin ETFs sets a precedent, contrasting with the U.S. SEC's stringent cash-only policy. The global crypto landscape sees varied regulatory approaches, with Hong Kong at the forefront. 🐯 Tiger Research Hong Kong report: https://buff.ly/48fZOne News link: https://buff.ly/3vh08DP #hongkong #crypto #web3 #ETF #SFC #bitcoin

U.S. Commodity Futures Trading Commission (CFTC) commissioner Caroline D. Pham advocated for a limited pilot program for digital asset regulation in the US. In a speech delivered during a Cato Institute event, Pham called for the regulatory sandbox on crypto jurisdictions to keep the US at pace with advances in the field. In her speech, Pham indicated that US efforts are lagging behind in standardising crypto regulation. Her proposed program would be similar to previous state-level sandboxes. She announced: “Today, I will propose that the CFTC launch the first-ever US pilot program for digital asset markets. Our principles-based framework is built for innovation in technology, new products, and market structure. In waiting and seeing, we’re missing opportunities to capitalize on all the benefits of the technology before us, while others take a more strategic and long-term view. The US may soon find ourselves constantly playing catch-up, unable to effectively leverage this technology for economic growth.” ‣ Source: https://lnkd.in/e-57Jgbn ‣ Join 50k other FinTech Fanatics and sign up for my daily FinTech Newsletter here: https://lnkd.in/eVNvGnDW #crypto #cryptocurrency #fintech #fintechnews #fintechindustry #fintechinnovation #financialsolutions #financialservices

UK Regulator Allows Crypto Asset-Backed ETN Market for Professional Investors According to CoinDesk, the UK's Financial Conduct Authority (FCA) has announced that it will not object to requests from Recognised Investment Exchanges (RIEs) to create a listed market segment for crypto asset-backed exchange-traded notes (ETNs). The products will be available to professional investors, including investment firms and credit institutions. Exchanges will be responsible for ensuring sufficient controls are in place for orderly trading and proper protection for professional investors. The London Stock Exchange has confirmed that it will accept applications for bitcoin and ether-backed ETNs in the second quarter of 2024. Bitcoin surpassed the $71,000 mark and ether crossed $4,000 on Monday, while the broader CoinDesk 20 index rose 0.5%. However, retail investors remain banned from trading these products, as the FCA believes that crypto asset-backed ETNs and cryptocurrency derivatives are ill-suited for retail consumers. The regulator continues to remind people that cryptocurrencies are high-risk investments and investors should be prepared to lose all their money. Disclaimer: Includes third-party opinions. No financial advice. #crypto #cryptonews #UK #NavExM https://lnkd.in/gqSzxVvm

$BTC 📉 Crypto in the Crosshairs: US Legislators Shake the Market (#crypto, #cryptocurrency, #blockchain) (Elisabeth Warren: https://lnkd.in/eumNWbZ4) #Bitcoin and the broader crypto market faced a weekend of scrutiny, with no BTC-spot ETF updates to shift the focus. What stirred the pot? Senator Elizabeth Warren's renewed anti-crypto stance. She's pushing for the US Digital Asset Anti-Money Laundering Act, aiming to apply strict banking AML and CFT rules to crypto platforms. This echoes her December call for tighter regulations against crypto's role in illicit activities. • Notably, banking bigwig Jamie Dimon of JPMorgan Chase echoed similar sentiments, suggesting a government crackdown on crypto. Warren's campaign puts the spotlight back on crypto's complex relationship with regulators. • Despite this, the Bitcoin Fear & Greed Index hints at resilience, holding steady in the 'Greed' zone. But with SEC v crypto chatter and lawmaker scrutiny on the rise, investors need to stay alert. Any negative regulatory or SEC news could sway demand for cryptos, and a shift in BTC-spot ETF inflows might signal changing investor appetites. Meanwhile, ETH felt the heat, dipping 0.59% on Sunday. The ongoing uncertainty around an ETH-spot ETF, especially after the SEC's delay on Fidelity's application, is weighing on investor sentiment. #EthereumETF #BitcoinETF Stay updated with me, @LogllNews. Don't forget to sign up using my link below. ✔️ I trade Bitcoin and Ethereum on the Bybit exchange (https://bit.ly/48KN5bZ) 📈 ✔️ For all my purchases, I exclusively use a Crypto Card from MasterCard (https://bit.ly/3skP2fR) 💳 ✔️ For charting and market insights, I turn to TradingView (https://bit.ly/4aQqsVE) 💰 ✔️ Liquidity Heatmaps for Bitcoin & Altcoins on TradingLite (https://bit.ly/48HFaMt) 🔹 📱 Subscribe to the Telegram Channel ➥ https://t.me/LogllNews

◾ A pivotal convergence of traditional banking frameworks with emerging Blockchain technologies introducing nuanced implications. ◾ The strategic public listing of a stablecoin by Société Générale introduces a canvas of geopolitical implications and raises questions around monetary sovereignty, necessitating a nuanced evaluation of the evolving global financial order, challenging the hegemony of traditional reserve currencies, while prompting geopolitical shifts in economic influence. ◾ The implications of EUR CoinVertible extend beyond the technological realm, interwoven into lenses of monetary policy, financial stability, and the evolving landscape of global finance. ◾ Société Générale will highly-likely have to grapple with the macroeconomic implications of widespread stablecoin adoption. ◾ A new financial sector, international relations, economic diplomacy, and the geopolitical balance of influence nexus is emerging. In my opinion, this strategic move positions Société Générale at the forefront of the nascent yet transformative intersection of traditional banking and Blockchain innovation inexorably intertwined with the responsibility of addressing multifaceted implications. #fintecheducation #fintechinnovation #stablecoin #societegenerale #blockchaineducation