In a bold move, T-Rex Group, a financial services company, has filed for a 2x leveraged MicroStrategy (MSTR) exchange-traded fund (ETF) in the United States. This new financial vehicle has the potential to be the most volatile ETF in the country, magnifying the daily performance of MicroStrategy’s stock by 200%. If approved, this fund could
The recent decision by the US Supreme Court to overturn the Chevron doctrine has significant implications for the regulation of cryptocurrencies, particularly by the Securities and Exchange Commission (SEC). Economist Timothy Peterson has highlighted the importance of this decision in limiting the SEC’s interpretive power over crypto assets, suggesting that it will lead to a
The prediction regarding potential interest rate cuts by the U.S. central bank in September or November does not necessarily imply a sharp correction in the markets. Analyst ‘RamenPanda’ suggests that historical patterns, as seen in 2008, do not always dictate the immediate outcome of rate cuts. While rate cuts during financial crises may have led
Bitcoin’s recent rejection at $62,000 has caused a stir in the cryptocurrency market. The clash between bullish and bearish sentiments has intensified, with both sides presenting compelling arguments. Despite the 15% price crash experienced by Bitcoin, analyst DonAlt believes that the worst may not be over yet. In fact, he predicts that the price could
As we approach the end of the week, approximately 107,000 Bitcoin options contracts are set to expire, representing a notional value of $6.6 billion. This end-of-month expiry event is significantly larger than typical end-of-week expiries, which may result in increased market volatility. Interestingly, the put/call ratio for today’s BTC derivatives stands at 0.5, indicating that
Kraken founder Jesse Powell made headlines when he announced a $1 million donation, predominantly in Ethereum, to support former US President Donald Trump’s re-election bid. Powell justified his donation by stating that it was intended to help the US maintain its leadership in blockchain technology. He expressed his excitement about backing the “only pro-crypto major
The collectibles space is about to see a new entrant with the upcoming launch of “Solo Leveling: Unlimited”, an NFT platform inspired by the popular South Korean web novel and webtoon, Solo Leveling. This innovative platform is being developed by OtherWorld, a Web3 company based in Singapore, and will merge entertainment and blockchain technology on
Bitcoin, the leading cryptocurrency, experienced a rollercoaster of price movements in the past week. Starting at over $64,000 on Monday after a quiet weekend, Bitcoin seemed to be on a steady trajectory. However, the bears quickly took control, causing a significant drop to $58,400 in just a few hours. Despite this sudden decline, the bulls
Keisha Lance Bottoms, who is set to become Joe Biden’s senior campaign adviser, recently expressed her view on cryptocurrency. According to Bottoms, crypto is not politically affiliated and has gathered support from both sides of the aisle. She believes that crypto and blockchain technology are transforming the financial system, particularly benefitting Black-owned businesses in Atlanta.
Recently, Binance made a significant announcement regarding the implementation of stricter measures to combat account misuse on their platform. This move comes as a response to instances where certain account features were being exploited to gain unfair advantages over other users. Binance revealed that they have detected misuse and exploitation of account features, such as
