Analysis Crypto by Thebittimes.Com

Bitcoin (BTC) is among the best-performing assets of the last decade and a half. The original cryptocurrency has outperformed even some of the biggest tech stocks. BTC recently overtook Google’s parent company, Alphabet, and Amazon to become the world’s fifth-largest entity by market cap. BTC’s market cap has since fallen below Amazon’s and currently sits in the sixth position among the world’s most valuable assets. Let’s discuss the asset’s price if its market cap equals that of Apple. Also Read: Markets Flash Green After Hayes Declares: ‘Buy Everything’ What’s Bitcoin’s Price If Its Market Cap Equals Apple? Source: Notebook Check Apple (AAPL) is currently the third-largest asset by market cap. The tech company boasts a market cap of $3.14 trillion. Apple currently sits behind only Microsoft and gold among the most valuable assets. Also Read: China Chooses US Trade, Weakens Russia’s De-Dollarization Push On the other hand, there are...

The U.S. Securities and Exchange Commission (SEC) has requested a judge, rather than a jury, to determine whether specific crypto currencies involved in the Terraform Labs case are classified as securities. In a Dec. 4 filing, the SEC requested the presiding judge to determine whether certain crypto assets are securities, a role traditionally reserved for a jury. The central part of the SEC’s argument rests on applying the Howey test, a longstanding benchmark for defining a security. The commission is firm in its belief that the crypto currencies involved in this case meet the criteria of an investment of money in a common enterprise, with profits expected predominantly from the efforts of others. You might also like: BlackRock investor scooped $100k in seed shares for spot BTC ETF The SEC’s filing stated, “There is no genuine dispute of material fact that Defendants’ crypto asset offerings involved an investment of money, in a common enterprise, with a...

Recent weeks have seen a massive surge in digital asset investments, with inflows totaling $346 million, led by Bitcoin and Ethereum. Investments in digital asset products have surged recently, marking a significant trend in the crypto market. Last week, these products experienced an influx of $346 million in capital, setting a record for the largest weekly investment during a continuous nine-week period of positive flows. According to CoinShares report, Bitcoin alone attracted $312 million in new investment s last week, with Bitcoin’s year-to-date inflow s exceeding $1.5 billion. Enhanced activity in exchange-traded products (ETPs) related to Bitcoin has been observed, with these products accounting for 18% of all Bitcoin spot trading volumes last week. ETF Anticipation Fuelling the Largest Surge in Inflows Since Late 2021https://t.co/kadC8aRml5 — James Butterfill (@jbutterfill) November 27, 2023 You might also like: Vitalik Buterin unveils major overhaul of E...

The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has pledged to address the JPEX crypto exchange fraud, which is being called the country’s most significant digital asset deception. The seriousness of the matter was brought to light in a press conference held on Sep. 27. According to local reports, authorities have already made significant headway. Twelve individuals have been apprehended, and asset s worth over 85 million HK$ ($10.8 million), comprising cash and other asset s like real estate and digital currency, have been seized. Hong Kong security chief vows to hunt down ringleader of crypto platform JPEX https://t.co/eBk2tonQTC — South China Morning Post (@SCMPNews) September 27, 2023 Of the arrested, three were associated with JPEX Technical Support Company, while two notable YouTubers, Chan Wing-yee and Chu Ka-fa, were also implicated. The scandal revolves around JPEX, a crypto exchange, which allegedly operated without authorization and deceiv...

The Financial Services Authority (FSA) of Japan and the Monetary Authority of Singapore (MAS) have joined forces in Project Guardian, aimed at exploring the potential applications of digital technologies, specifically asset tokenization . The project seeks to conduct pilot experiments to assess the feasibility of these applications while carefully managing the associated risks to financial stability and integrity. Project Guardian is here Several sectors within the industry have already embarked on pilot projects as part of this collaborative endeavor. These include fixed income, foreign exchange, as well as asset and wealth management. By engaging industry practitioners and policymakers, Project Guardian aims to delve into various use cases across different asset classes, thereby enriching the collective understanding of digital asset networks. In the June 26 press release, Leong Sing Chiong, Deputy Managing Director at the Monetary Authority of Singapore (MAS), expressed...

FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a "huge effort" according to the exchange's CEO. Bankrupt cryptocurrency exchange FTX has revealed a "massive shortfall" in its digital asset and fiat currency holdings with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US.  On Mar. 2 the exchange released a presentation showing FTX had $2.2 billion in exchange wallets and fiat accounts of which $694 million consisted of the most liquid "Category A Assets" that include cash, stablecoins, Bitcoin (BTC) and Ether (ETH) priced at the latest spot prices. Only $191 million of total assets were located in the wallets of the accounts associated with FTX US, in addition to $28 million of customer receivables and $155 million of related party receivables. The balances of FTX's wallets and accounts at the time of its bankruptcy showing an $8.6 bi...