Circle, a global financial technology firm and issuer of the regulated stablecoin USDC, has disclosed its official entry into the Brazilian market. This strategic manoeuvre aims to offer USD-backed digital currency and infrastructure to a region known for its burgeoning fintech landscape. Collaborating with key local enterprises like BTG Pactual and Nubank, Circle intends to introduce digital asset products facilitating swift, cost-effective, and round-the-clock access to USDC.This expansion coincides with a period of considerable fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin…
Author: dfrancis36
Semler Scientific (NASDAQ:SMLR) witnessed a remarkable 25% increase in its stock price during early U.S. trading hours on Tuesday following its announcement of purchasing 581 bitcoins for its treasury. Before the surge, the company boasted a market capitalization of under $200 million. In its most recent earnings statement, Semler revealed holding cash and cash equivalents amounting to $62.9 million at the end of the first quarter. The company reported first-quarter revenue of $15.9 million, with operating cash flow standing at $6.1 million. According to a press release issued this morning, Semler acquired 581 bitcoins for $40 million, implying an average…
Andrew Kang of Mechanism Capital, a crypto venture fund, thinks meme coins have evolved and shouldn’t be considered lowly. In a post on X, Kang argues that meme coins are no longer a “last resort” investment but an emerging sector constantly attracting millions of investors. Investors Should Change Strategy? If anything, the analyst thinks, top meme coins like BONK, HONK, and others may spearhead the next market surge. For this reason, and considering the potential of meme coins, investors, the analyst said, should consider adapting their strategies or risk “dying.” Another observer on X endorsed this observation. Replying to the…
BlackRock’s spot bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has overtaken Grayscale’s Bitcoin Trust (GBTC) as the world’s largest Bitcoin ETF.As of May 28, IBIT holds over $20 billion in assets with 288,670 Bitcoin in its trust. This surpasses GBTC’s $19.7 billion in assets and 287,450 bitcoin holdings.JUST IN: BlackRock's spot #Bitcoin ETF $IBIT passes GBTC to become the largest Bitcoin ETF in the world. pic.twitter.com/b9hgfZLmY7— Bitcoin Magazine (@BitcoinMagazine) May 29, 2024 The flipping of fortunes comes just months after both ETFs launched on the same day in January amid a wave of SEC-approved bitcoin ETFs hitting the market.…
Three well-known financial market infrastructures (FMIs) – DTCC, Clearstream, and Euroclear – along with Boston Consulting Group (BCG), have revealed a blueprint aimed at establishing an industry-wide digital asset ecosystem to foster the acceptance of tokenized assets.Projected to reach a $16 trillion business opportunity by 2030, the tokenization of global illiquid assets has garnered significant attention. However, institutional adoption has faced challenges due to fragmented innovation and small-scale initiatives lacking broader ecosystem development.Nadine Chakar, Managing Director, Global Head of DTCC Digital Assets, Source: LinkedInThe jointly released paper, titled “Building the Digital Asset Ecosystem,” endeavours to redirect industry focus by outlining…
Celsius is currently going through a Chapter 11 bankruptcy proceeding. Last week, the US CFTC found Celsius and Alex Mashinsky guilty of breaking several laws before Celsius collapsed in 2022. Alex Mashinsky has been arrested and will be arrayed in court on Friday. Celsius Network, a cryptocurrency lending company that collapsed in 2022, is the target of enforcement action by the US Securities and Exchange Commission (SEC). According to a Bloomberg report, the SEC has sued Celsius Network and its former CEO Alex Mashinsky. The report, however, stated that specifics of the complaint were not immediately available. The lawsuit comes…
GCEX, a prime brokerage for forex and cryptocurrencies led by Lars Holst, announced today (Wednesday) that it is enhancing its offerings with DV Chain, a provider of crypto liquidity and market-making services. Through the latest collaboration, GCEX expects to offer its clients even tighter spreads and reduced execution costs.The official announcement further highlighted that GCEX will provide enhanced brokerage services for spot cryptocurrency transactions through this partnership.“As demand for deep liquidity in digital assets from institutional clients continues to rise, this partnership reinforces GCEX’s position as a leading regulated brokerage, delivering superior global crypto CFDs liquidity,” said Michael Aagaard, Managing…
The New York Stock Exchange (NYSE) has announced plans to launch financial products tied to the spot price of Bitcoin. The NYSE is collaborating with CoinDesk Indices to develop cash-settled index options that will track the CoinDesk Bitcoin Price Index (XBX).BREAKING: 🇺🇸 New York Stock Exchange to launch financial products tracking spot #Bitcoin prices. pic.twitter.com/mhPECUZAsW— Bitcoin Magazine (@BitcoinMagazine) May 29, 2024 The XBX is a real-time spot price index for Bitcoin calculated across major crypto exchanges. It has been operating for over 10 years and is currently the benchmark for $20 billion worth of Bitcoin ETF assets.By developing options contracts…
Shiba Inu is currently the talk of the crypto market after mounting a 15% surprise rally. However, beyond the price rally, SHIB is shining in other places, and one of those is the open interest. This metric has seen a significant increase, with potential implications for the SHIB price going forward. Shiba Inu Open Interest Sees 85% Surge The Shiba Inu open interest in up over 85% in the past day as the price has gone on a recovery trend. Open interest tracks the futures or options contract for a particular asset, given a total of how much money is…
Russian commodities firms facing challenges in executing financial transactions with Chinese counterparts are turning to stablecoins as a new method for settling deals. At least two major metals producers have begun utilizing Tether Holdings Ltd.’s stablecoin and other cryptocurrencies to settle cross-border transactions with primarily Chinese clients and suppliers. These settlements, in some cases, are routed through Hong Kong. The shift towards blockchain-based transactions highlights the enduring impact of international restrictions imposed in response to the 2022 invasion of Ukraine on the Russian economy. Even unsanctioned Russian companies dealing in commodities such as metals and timber have encountered difficulties in…