Category: Bitcoin

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Taiwan’s Central Bank concludes CBDC’s wholesale study

A Central Bank employee spoke about CBDC’s ongoing investigation and other Modernization of Payments that Taiwan is exploring.

Taiwan’s Central Bank completed a feasibility study of the Central Bank’s digital currency (CBDC) and continues to consider its introduction. The Central Bank is looking for business and academics comments and will continue to work on the design of the platform, said deputy governor Mei-Lie Chu on December 7.

In a long speech at an event for bankers, Chu described what Banking 4.0 called, or “Integrated Services in Customer’s Daily Life,” including Artificial Intelligence Integration and Bank’s Advanced Mobile and Digital Technology. She dedicated approximately half of her presentation to the CBDC.

Chu referred to the bank to investigate international settlements and said he saw the advantages of the CBDC and the real -world assets signal.
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Bitcoin Crypto Mining cryptocurrency exchange Cryptocurrency news

Phoenix closes $380 million deal with WhatsMiner to mine green Bitcoin

Phoenix Group is acquiring hydrocooling mining equipment from WhatsMiner worth more than US$136 million, with an option to purchase an additional US$246 million.

UAE company Phoenix Group has revealed a new purchase of hardware equipment from WhatsMiner, with the aim of expanding its portfolio of hydraulic cooling rigs. According to a Dec. 7 announcement, the $380 million deal represents WhatsMiner’s largest order in two years.

Under the agreement, Phoenix received mining equipment valued at US$136 million, with an additional option available worth US$246 million. WhatsMiner’s line of hydrocooling equipment launched in 2022, with current prices ranging from $1,008 to $2,484, according to the company’s website.

WhatsMiner’s hydrocooling hardware uses a closed-loop water system, preserving the volume and quality of water within the pipes. According to the company, the system offers more efficient heat transfer, as water is a more effective heat conductor than air or oil. The benefits of this system include reduced operating costs and minimized environmental impact, the company claims.
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Bitcoin Bitcoin Wallet Cryptocurrency news

Coinbase Wallet Launches Global Money Transfers with Link-Based Payments

Coinbase has introduced a new feature to its wallet service, streamlining international fund transfers. This new update aims to make transferring funds as easy as sending a text message.

Coinbase Introduces Link-Based Money Transfer Service

Coinbase (Nasdaq: COIN) has launched its latest wallet feature that facilitates global fund transfers. The platform now allows users to transfer money through multiple channels, including widely used messaging and social media apps, by simply sharing a link.

Announced on Tuesday, Coinbase explained that this feature avoids the need for complex banking details and costly electronic transactions, offering free, immediate settlements. The update includes compatibility with various social networks and messaging applications such as Whatsapp, Instagram, Tiktok, Facebook, Telegram, Snapchat and also via email.

Basically, the service works on any platform capable of sharing a link. Coinbase clarified that if the recipient does not claim the funds within two weeks, it will automatically revert them back to the sender. Coinbase’s new payment method is similar to those offered by large payment companies such as Paypal and Stripe.

Paypal facilitates link-based transactions through a service called Paypal.me. In this service, people can generate a personalized link to request payments directly to their Paypal account. The Paypal feature can be used for cryptographic payments associated with the selected digital assets it supports.

Aimed at both novice and experienced users, Coinbase has also implemented a “simple mode” in its non-custodial wallet. This feature focuses on basic functionalities such as buying, sending, receiving, and protecting digital currencies.

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Bitcoin Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news

ProShares Futures Bitcoin ETF Hits ATH on Spot ETF Hype

Amid growing anticipation and excitement surrounding the Bitcoin spot ETF, the ProShares ‘BITO’ BTC Future ETF has reached a new all-time high (ATH).

ProShares Futures BTC ETF performs well

According to a post on X by Bloomberg ETF analyst James Seyffart, ProShares’ BITO is approaching $1.5 billion in total value locked (TVL). This comes just two weeks after Eric Balchunas acknowledged that the product works extremely well. Balchunas highlighted that the ProShares Bitcoin Futures ETF doubled in value in 30 days.

At the time, the popular analyst attributed the rise in value to industry-wide anticipation for the immediate approval of the Bitcoin ETF by the US SEC. A user X pointed out the irony in the relationship between the ProShares Bitcoin Futures ETF and potential BTC spot ETFs.

Once the SEC approves the Bitcoin spot ETF, it will certainly replace products like the ProShares BTC Futures ETF. Spot ETFs allow investors to legally trade the price of BTC without owning a Bitcoin address or privacy keys. This is different from futures, which only mimic the spot price of Bitcoin and offer exposure to the price movements of Bitcoin futures contracts.

Bitcoin ETF approval odds remain at 90%

Optimism regarding the agency’s positive decision continues and has even intensified in recent days. Experts still express optimism about the possibility of a timely approval of the Bitcoin ETF. Balchunas reiterated his earlier prediction that SEC approval is a matter of time.

He boldly stated that the chances of approval remain at 90%, as previously speculated.

The SEC just delayed Franklin Templeton and Hashdex’s Bitcoin ETF applications due to the premise that “the rules of a national securities exchange must be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest’. “

In connection with the delay, the SEC is now seeking public comment on whether Templeton’s application should be approved or disapproved. As the SEC provided the update to Franklin Templeton’s application ahead of the January 1, 2024 deadline, it suggests that the regulator may be streamlining all BTC spot ETF applications for mass approval in January.

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Bitcoin Bitcoin Wallet cryptocurrency exchange Cryptocurrency news

eToro Bags License to Operate in the United Arab Emirates

Global trading and investment platform eToro has announced the receipt of its latest license from the United Arab Emirates.

eToro license marks an important milestone

eToro has received approval to operate under the Financial Services Permit (FSP) from the international financial center in the capital of the United Arab Emirates, the Abu Dhabi Financial Markets Authority (ADGM). The license was specifically issued by the ADGM Financial Services Regulatory Authority. Possession of this license gives the social investment platform the legal right to offer its services in the region.

Notably, this new license from eToro authorizes the platform to operate as a securities, derivatives and cryptoassets broker in the United Arab Emirates. The company recognizes the latest addition as a milestone in its journey toward global expansion.

The United Arab Emirates becomes a crypto paradise

eToro also plans to help UAE residents increase their wealth by providing them with an avenue to gain financial knowledge, especially when it comes to cryptocurrencies. On the other hand, ADGM is confident that eToro’s UAE license, which gives the company access to ADGM’s dynamic ecosystem and progressive regulations, will help drive the platform’s vision.

It is important to note that the crypto atmosphere in the UAE has become conducive for many crypto companies, especially those seeking solace outside the United States. Regions like Dubai and Abu Dhabi have become safe havens for crypto companies facing challenges with US authorities due to the clear regulatory framework available.

In May, the UAE Central Bank published new AML guidelines for financial institutions dealing with cryptocurrencies and NFTs. A few months later, Binance, a leading digital asset services provider, became the first cryptocurrency exchange to receive the Minimum Operating Viable Product license in Dubai, proof that the region’s regulatory push is working.
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