• Kaiko, the cryptocurrency market data provider based in Paris, is relocating its Asian headquarters from Singapore to Hong Kong.
• The city’s pro-crypto policy pivot and emergence from Covid-related restrictions were key factors that influenced the move.
• Hong Kong is set to allow retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH) later this year, with a mandatory licensing regime for stablecoins due by 2023-2024.

Kaiko Relocates to Hong Kong

Kaiko, the cryptocurrency market data provider based in Paris, is set to relocate its Asian headquarters from Singapore to Hong Kong, driven by the latter’s efforts to cement itself as a global leader in the digital asset space. The city’s pro-crypto policy pivot and emergence from Covid-related restrictions were also key factors that influenced the move Kaiko’s CEO, Ambre Soubiran said in a Bloomberg interview on March 16.

What Is Driving This Moce?

As Hong Kong strives to develop crypto rules that encourage growth while safeguarding investor interests, the city is also learning from past bankruptcies like the FTX exchange, positioning itself for a rebound from a $2 trillion market rout. While the US has been cracking down on crypto, and Singapore is considering stricter rules following the FTX fallout, Hong Kong is set to allow retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH) later this year, with a mandatory licensing regime for stablecoins due by 2023-2024. According to Soubiran, Hong Kong’s regulatory landscape is changing positively and Kaiko wants to support the institutionalization, growth and establishment of the digital asset class in the city.

Challenges Facing The Crypto Industry

The crypto industry remains in a deep downturn after a bubble in token prices last year causing investors to flee. As a result several companies including Coinbase Global Crypto.com and Huobi slashed thousands of jobs others are waiting for crypto recovery and Hong Kong’s revamped digital asset rules before committing scarce investment funds. Despite this Kaiko’s Head of Asia Pacific Sean Lawrence is set to relocate from Singapore to Hong Kong by end of March Lawrence suggested that figuratively something like nine out of 10 people in crypto are discussing returning back into Hong Kong somehow A new licensing regime for crypto exchanges is expected be implemented on June 1st 2021

Hong kong Aims To Foster Digital Asset Sector

Hong kong’s pivot towards fostering digital asset sector comes part of broader effort restore credentials cutting edge financial center after experiencing months political unrest 2019 It hopes become hub technology innovation capital markets development promote green finance solutions facilitate block chain applications cross border payments provide infrastructure support foreign exchange businesses raise capital through initial coin offerings etc

Conclusion

Hong kong appears be emerging leader quickly shifting towards welcoming environment cryptocurrencies Though many challenges remain uncertain future ahead it’s clear government committed establishing friendly regulations attract more business local international level which could potentially lead increased investments better access services related blockchain technology

Bitcoin Breaks Below $20K

• Bitcoin (BTC) has dropped below the crucial $20,000 line for the first time since mid-January.
• The coin is currently trading at $19,650, having lost about 9.2% in 24 hours.
• The crypto market has dropped this week due to technical analysis depicting a strong sell and recent negativity surrounding crypto assets.

Plunges Over Past Week

Over the past week, Bitcoin was trading at $22,370 seven days ago and reached a 7-day high of $22,600 on March 5th. Since then it has been in the red zone with significant price plunges between March 9th and 10th when it dropped from $21.7k to $19.9k in less than a day. In the last 24 hours the coin’s 24-hour high was just about $21,790 but failed to recover since then leading to its current price of 19,650 USDT per coin.

Technical Analysis

The market charts indicate that BTC has been trading in the red zone for 24 hours and technical analysis depicts a strong sell that may run up to the next support level of 18k USDT per coin if broken down further as indicated by Moving Average Convergence/Divergence (MACD) indicator shows a sell bias and Relative Strength Index (RSI) which is at 26.94 levels for BTC/USD daily chart .

Reasons Behind Price Drop

The current price plunge can be attributed to various reasons starting with implosion of Silvergate Bank which traditionally favored cryptos as well as inflationary pressure from key personnel in regulatory space such as Jerome Powell mentioning possibility of raising interest rates higher and CEO of Bank of America predicting minor recession with interest rates remaining high till 2024 .

Conclusion

Bitcoin has continued to suffer from drops over past few weeks failing attempts at recovery resulting in its current price being below 20k USTD per coin while showing signs that it may dip further if next support level is broken down indicating uncertain future ahead for this cryptocurrency .

• DMG Blockchain Solutions Inc. reported a net loss of $7.0 million for the first quarter of 2023 despite mining 50% more bitcoin than the previous year.
• The company attributed the loss to lower revenues and increasing operating costs.
• Despite the net loss, DMG has a strong balance sheet with $10.9 million in cash and 453 BTC and debt of $1 million as of Dec. 31, 2022.

DMG Blockchain Reports Net Loss

DMG Blockchain Solutions Inc., a crypto mining firm, reported a net loss of $7.0 million in Q1 2023 despite mining 50% more bitcoin than the previous year due to lower revenues and increasing operating costs.

Revenue Decrease

The company reported a revenue of $7.2 million, which is a 50% decrease from the previous year’s quarter due to a decline in average bitcoin price during that period.

Petra Technology Utilized

Their success was highlighted by their Petra technology which was utilized to place Ordinals (used to make inscriptions to represent ownership of NFTs or non-fungible tokens) on the Bitcoin blockchain, ensuring that NFT creators who want to utilize this digital asset ledger can do so in a carbon-neutral manner.

Core+ Capabilities Development

DMG continues developing its Core+ capabilities with upgraded Terra Pool software to maximize revenue for DMG and pool members as well as making incremental improvements to its mining operations with their focus on managing its cash closely and spending concentrated on its Core+ and immersion cooling initiatives.

Strong Balance Sheet

Despite the net loss, DMG has been able to maintain financial stability with a strong balance sheet with $10.9 million in cash and 453 BTC as well as debt totaling at only $1 million as of Dec 31 2022

• A blockchain security firm reported a phishing attack involving Bored Ape NFT #4587, the latest looting target of the address 0x43c922.
• The hacker has embarked on a series of heists since the beginning of February 2023.
• The account, now labeled fake_phishing38681 on Etherscan, has only been active for about 20 days and has performed 73 recorded transactions.

Bored Ape NFT Stolen in Latest Phishing Attack

Valued at $147.8k

Blockchain security firm CertiK shared an alert involving Bored Ape NFT #4587, which was the latest looting target of the address 0x43c922. Ancilia inc., a Binance-backed web3 cybersecurity partner, identified this NFT as being stolen by the hacker whose complete address is 0x43C922deB0827b9F5B1baC648677077A66F108e5. It was last valued at 89.9 ETH (~$147,800) in its last sale on May 9, 2022.

Previous Heist Included Yacht Club NFT #3097

The other theft from the same user targeted and stole bored ape yacht club NFT #3097 which was last sold on Jan 7th 2022 for 19.8 ETH (~$33,000). It was also stolen by address 0x43C922 which is now labeled as Fake_Phishing38681 on https://t.co/lb2v6r8JU0 .

FreeNFT OG Ticket 150 Also Affected

One token worth 7Ξ was stolen from address 0xe31f3cca152fbbe45d73ef64de25d81228f8f7a7 by the same hacker address as reported by @scamsniffer_. This happened to FreeNFT OG ticket 150 on Feb 15th 2023.

Address Flagged with Multiple Reports

Etherscan has flagged the address warning other users of interacting with it due to multiple reports associated with several phishing scams filed against it. This hack is a blow to both bored ape yacht club and whole crypto space alike as these phishing scams continue to haunt people in this industry.

Exercise Caution When Transacting With Address 0x43C922

It is advised that people exercise caution when transacting with this particular address (0x43C922) as it has only been active for about 20 days yet performed 73 recorded transactions within that period.

• Andrew Tate, a social media influencer and five-time kickboxing champion, was recently arrested in Romania for human trafficking and sexual assault.
• Romanian police seized millions of dollars worth of luxury items from him, as well as hardware wallets containing digital assets worth over a hundred thousand dollars.
• Andrew had praised cryptocurrencies in the past, but his interest may be driven by personal gain and avoiding taxes.

Andrew Tate Arrested in Romania

British-American social media influencer and five-time world kickboxing champion Andrew Tate was arrested in Bucharest, Romania in December 2022 on charges of human trafficking, sexual assault and forming an organized criminal enterprise.

Romanian Police Seize Luxury Items & Digital Assets

Romanian police seized millions of dollars worth of luxury cars, homes, and watches from Tate and his associates. In addition to this, they also seized hardware wallets from Tate and his brother Tristan containing digital assets worth over a hundred thousand dollars together; this included five bitcoins (BTC) worth about $110k for Andrew and 16 bitcoins held by Tristan amounting to a total of $465k. These five seized bitcoins were held in Andrew’s girlfriend’s wallet.

Andrew Praises Cryptocurrencies

In December 2022, Altcoin Daily applauded Tate’s encouragement of crypto investment which he had expressed on various occasions including a mutual back-patting exchange with Michael Saylor CEO of MicroStrategy who stated “Fiat makes you weak – Bitcoin makes you strong”. However it appears that his enthusiasm for cryptocurrencies could be motivated by personal gain rather than conviction as he bragged about using crypto to dodge taxes with The Mirror report suggesting he made an impressive $600,000 a month employing 75 sex workers while dodging taxes using crypto.

Tate Involved With Pornography Business

Tate had also often showcased a controversial side to himself with boasting about setting up a pornographic webcam business despite the Internal Revenue Service (IRS) listing bitcoin payouts to performers as employment income thus requiring taxable payments.

Conclusion

Andrew Tate has been involved with many questionable activities such as human trafficking & sexual assault as well as promoting cryptocurrency use without proper acknowledgement or understanding of its legal implications along with bragging about dodging taxesusing cryptocurrency which can lead to serious consequences if not done correctly hence highlighting the importance for individuals to properly understand their actions before engaging in them .

• Binance’s native token, BNB, has seen impressive YTD gains of over 38%.
• Binance recently suspended US dollar deposits and withdrawals.
• There is a current controversy with Indian crypto exchange WazirX.

Binance Native Token (BNB) Gains Over 38%

Binance’s native token, BNB, has had a roaring start to the year with its year-to-date (YTD) gains standing at over 38%. On Feb. 8, BNB reached an impressive 90-day high of $337.32 before suffering a minor retracement. Trading at $330.71 with a market cap of $52.22 billion as of this writing, BNB remains one of the top-performing crypto assets.

Suspension of US Dollar Withdrawals and Deposits

On Feb 6th, Binance announced that it would suspend US dollar deposits and withdrawals without providing any reason for the decision but directly informing affected customers. A company spokesperson stated that „0.01% of our monthly active users leverage USD bank transfers“ and that the company is working hard to restart the service as soon as possible. However, Binance US which is regulated by the Treasury Department’s Financial Crimes Enforcement Network is not affected by the suspension making it applicable only to non-US customers who transfer money to or from bank accounts in dollars.

Controversy With WazirX

WazirX, an Indian cryptocurrency exchange has refuted allegations from Binance claiming them false and unsubstantiated while also stating they will seek legal recourse according to a blog post published on Tuesday. In August 2022, there was dispute between two exchanges when Enforcement Directorate initiated an investigation over alleged money laundering against Zanmai Labs -the parent company of WazirX-. Changpeng Zhao CEO of Binance took to Twitter to state that his company does not own WazirX even though there was an announcement in 2019 declaring its acquisition of the exchange. This tussle between the two exchanges continues since then without any resolution yet seen in sight; however both parties remain adamant in their stance regarding this matter while users remain unable to use their funds through either platform due to this dispute continuing until further notice..

Impact on Price & Market Cap

The suspension of US dollar transactions coupled with the ongoing controversy with Indian exchange WazirX could mean uncertain future for BNB’s price and its market capitalization if not resolved quickly . Despite that ,BNB remains one top performing asset amongst others so far this year with its YTD gains standing above 38% despite minor retracements observed recently . As such , investors are expecting further upside for this asset in near future depending upon how these issues will be addressed by respective authorities in coming days .

Conclusion

In conclusion , although there are certain doubts regarding future performance of BNB due to recent events , investors still remain optimistic about its potential given its past performances . It will be interesting going forward how these issues get resolved and what impact they have on overall market performance ; only time will tell what comes next for this leading altcoin .

• Ethereum (ETH) has had a buoyant start to 2023, with the digital asset currently trading at $1,572.
• The launch of the Shanghai upgrade (EIP-4895) is ushering in a new era for Ethereum, transitioning from proof-of-work to proof-of-stake consensus mechanism.
• Analysts are monitoring the Federal Reserve’s decision on interest rate hikes and their possible impact on Ethereum’s price.

Ethereum Price Analysis

Ethereum price analysis indicates potential gains in 2023. After kicking off the new year at $1,192, ETH surged to a 90-day high of $1,674 on Jan. 21.

What Affects the Ethereum Price?

Various themes and questions will heavily influence Ethereum’s path such as scalability issues, user adoption and more.

The Shanghai Upgrade

The impending launch of the Shanghai upgrade (EIP-4895) is set to transition Ethereum from the traditional proof-of-work consensus mechanism to a proof-of-stake (PoS) one. This transition will allow users to stake 32 ETH to become validators.

Federal Reserve Impact

The crypto market will be monitoring any potential impact that this may have on digital assets such as Ethereum with regards to the Federal Reserve’s decision on interest rate hikes.

• VitaDAO, a DeSci startup focused on longevity therapeutics, has raised $4.1 million in a token-based funding round led by Pfizer Ventures.
• The funding will be used to further develop the platform, which focuses on funding early-stage longevity research and commercializing longevity therapeutics.
• The round also included participation from Balaji Srinivasan, L1 Digital, and others.

VitaDAO, a decentralized longevity therapeutics startup, has recently closed a token-based funding round of $4.1 million, led by Pfizer Ventures. The round also included participation from Balaji Srinivasan, Shin Capital, L1 Digital, and other investors. The funding will be used to further develop the platform, which focuses on funding early-stage longevity research and commercializing longevity therapeutics.

VitaDAO is part of a larger project called Molecule, which is aimed at accelerating innovation in the pharmaceuticals sector with innovative technologies such as blockchain and NFTs. Molecule raised $12.7 million in its seed funding round last June, and has since been exploring new ways to revolutionize the pharmaceuticals industry.

VitaDAO is focused on creating a decentralized longevity therapeutics-focused crowdfunding and research system. This system is designed to address the “valley of death” challenge – the challenge of translating academic science into the biotech space. The platform allows users to invest in early-stage longevity research projects, and provides them with access to commercialized longevity therapeutics.

Pfizer Ventures has made it clear that it currently holds VitaDAO’s governance token and has recently participated in the project’s governance proposal. Michael Baran, PfizerVenture’s Executive Director and Partner, has said that “DeSci caught our attention as an emerging area to address the valley of death challenge.”

VitaDAO is planning to use the new funds to continue to develop its DeSci platform and provide users with more access to innovative longevity therapeutics. The platform is also hoping to expand its user base and increase access to early-stage research projects. By providing users with a platform to fund and access early-stage research, VitaDAO is helping to revolutionize the pharmaceuticals industry.

• As of January 18, 2021, there was slightly over 5,701 BTC locked in the Avalanche platform, exceeding the amount of BTC locked in the Lightning Network at 5,229.30 BTC.

• Avalanche is a smart contracting platform that provides developers with an alternative to Ethereum, allowing users to securely move their coins and earn extra rewards and capital gains if BTC prices rise.

• The Bitcoin-Avalanche Bridge, launched in June 2022, is said to be better than bridges offered by competitors due to its cost and speed.

The cryptocurrency space is always evolving, and a new development has been recorded in the Avalanche platform. Data on January 18 revealed that there is more tokenized Bitcoin locked in Avalanche than BTC in the Lightning Network (LN). Verified data indicates that as of Jan.18, there were slightly over 5,701 BTC in Avalanche, exceeding the amount locked in the LN at 5,229.30 BTC.

Avalanche is a smart contracting platform that provides developers with an alternative besides Ethereum. The modern blockchain is scalable, and on-chain fees are low. Over the years, it has developed an active DeFi community as traders opt to use dApps deployed on the network. The spike in the number of BTC tokenized in Avalanche, primarily for DeFi activities, is an endorsement of the protocol.

It is especially so considering that the Bitcoin-Avalanche Bridge was launched in June 2022. Tokenized Bitcoin in Avalanche exists as BTC.b and is redeemable for BTC should the holder wishes to convert. By enabling this feature, BTC holders keen on exploring Avalanche’s DeFi ecosystem could securely move their coins and earn extra rewards and capital gains if BTC prices rise.

Morgan Krupetsky, the director of business development for institutions in Ava Labs, said their cross-chain bridge is better than those offered by competitors. He cited cost and speed as differentiating factors. „A lot of people think that these cross-chain bridges are slow, but Avalanche is one of the fastest bridges available, and it’s also one of the cheapest,” he said.

The surge in the number of Bitcoin locked in Avalanche could be attributed to the innovative features the protocol offers to its users. With its low transaction fees, scalability, and secure bridge, Avalanche provides a viable alternative to Ethereum and other smart contracting platforms. As the DeFi sector continues to grow, it is likely that more users will flock to Avalanche in the near future.

• Ondo Finance has announced the launch of a tokenized fund, allowing stablecoin holders to invest in US Treasuries and bonds.
• The company will offer three share classes: US Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High Yield Corporate Bond Fund (OHYG).
• It will charge a 0.15% per annum management fee, which will be managed by Onto Capital Management.

Ondo Finance, a decentralized investment platform, has recently unveiled the launch of a tokenized fund, allowing stablecoin holders to invest in US Treasuries and bonds. With more than $100 billion of non-yield-bearing stablecoins in the market, this new fund will make traditional capital markets more accessible to investors.

The company will offer three share classes to provide a range of institutional-grade yielding offerings. The US Government Bond Fund (OUSG) will use the Blackrock US Treasuries ETF (SHV) to invest exclusively in short-term US treasuries. The Short-Term Investment Grade Bond Fund (OSTB) will utilize the PIMCO Enhanced Short Maturity Active ETF (MINT) to invest solely in short-term investment grade and corporate bonds. Lastly, the High Yield Corporate Bond Fund (OHYG) will use the Blackrock iBoxx $ High Yield Corporate Bond ETF (HYG) to invest in high-yield corporate bonds.

Onto Capital Management will take charge as an investment adviser, facilitating the purchase and sale of these ETFs. The firm will charge a 0.15% per annum management fee for its services.

Nathan Allman, who tweeted about the launch, noted that the company’s goal is to make it easier for investors to convert between stablecoins and traditional assets, emphasizing “highly liquid, low-risk products like short-term US Treasuries.” This new fund will enable investors to access a greater range of investment opportunities and hopefully see increased returns.