Author: CryptoCurrencyNews

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In recent months, Bitcoin has made headlines by outperforming the S&P 500, a key benchmark for U.S. equities. This trend reflects a shift in investor sentiment, driven by a combination of macroeconomic factors and technological advancements. The decentralized nature of Bitcoin, coupled with its inherent scarcity, has made it an attractive alternative to traditional assets, particularly in times of economic uncertainty.

One of the primary reasons for Bitcoin’s strong performance is its appeal as a hedge against inflation. As central banks around the world continue to implement expansive monetary policies, concerns about currency devaluation have risen. Bitcoin, with its fixed supply of 21 million coins, offers a stark contrast to fiat currencies that can be printed at will. This scarcity has bolstered investor confidence in Bitcoin as a store of value, akin to digital gold.

Furthermore, the increasing adoption of blockchain technology by financial institutions and corporations has lent credibility to Bitcoin and other cryptocurrencies. Major companies, such as Tesla and Square, have allocated a portion of their treasury reserves to Bitcoin, signaling their belief in its long-term potential. This institutional involvement has provided additional validation and stability to the cryptocurrency market.

Another factor contributing to Bitcoin’s recent outperformance is the burgeoning interest in decentralized finance (DeFi) platforms. These platforms, built on blockchain technology, offer innovative financial services without traditional intermediaries. The growth of DeFi has not only increased the utility of cryptocurrencies but also attracted more users and capital to the crypto ecosystem, indirectly benefiting Bitcoin.

Volatility remains a characteristic of Bitcoin, often deterring risk-averse investors. However, its historical performance demonstrates significant long-term gains, making it a compelling option for those willing to endure short-term fluctuations. In contrast, the S&P 500, while more stable, has experienced its own challenges, including market corrections and economic downturns.

Looking ahead, Bitcoin’s trajectory will likely be influenced by regulatory developments, technological advancements, and broader market dynamics. As governments and regulatory bodies grapple with the implications of digital currencies, the outcomes could either bolster or hinder Bitcoin’s growth. Nonetheless, the ongoing innovation within the cryptocurrency space and the increasing acceptance of Bitcoin as an asset class suggest a promising future.

In conclusion, Bitcoin’s recent outperformance of the S&P 500 highlights the evolving landscape of investment opportunities. As traditional and digital assets continue to coexist, investors are faced with the challenge of balancing risk and reward in an ever-changing economic environment.

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Bitcoin has been on a remarkable upward trajectory, reaching near $66,000, driven by increased institutional interest and widespread adoption. This surge has also positively impacted crypto-related stocks, with companies like Coinbase (NASDAQ:COIN) and MicroStrategy seeing notable gains. As the digital currency landscape evolves, traditional financial institutions are increasingly integrating cryptocurrencies into their offerings, further legitimizing the sector.

Coinbase, a leading cryptocurrency exchange platform, has experienced a significant stock price increase, reflecting the overall bullish sentiment in the crypto market. Similarly, MicroStrategy, known for its substantial Bitcoin holdings, has benefited from the rising Bitcoin prices, reinforcing its strategic investment decisions.

The increasing acceptance of Bitcoin and other cryptocurrencies by mainstream investors and companies is a testament to the growing confidence in digital assets. This shift is partly fueled by fears of inflation and a desire for assets that are not tied to traditional economic factors.

Moreover, the launch of Bitcoin ETFs has opened up new avenues for investors to gain exposure to cryptocurrencies without the need to directly purchase and manage digital coins. This development has further driven the demand and price of Bitcoin, as it becomes more accessible to a broader range of investors.

Despite the positive momentum, experts caution about the volatility inherent in the cryptocurrency market. While the potential for high returns is attractive, investors are advised to remain vigilant and consider the risks involved.

As regulatory frameworks continue to develop globally, the future of cryptocurrencies remains a topic of intense discussion among policymakers and industry leaders. The outcome of these discussions will likely play a crucial role in shaping the next phase of growth for Bitcoin and the broader crypto market.

In summary, the recent surge in Bitcoin’s value and the corresponding rise in crypto stocks highlight the dynamic and rapidly evolving nature of the cryptocurrency landscape. With increased participation from institutional investors and the introduction of innovative financial products, the sector is poised for continued growth, albeit with potential volatility.

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SINGAPORE, Nov. 5, 2024 /PRNewswire/ — HTX Ventures, the global investment division of HTX, today unveils its latest research on crypto and its impact on the much anticipated U.S. presidential election. This marks the first time that crypto has become a key issue in a U.S. election, and the report, titled 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation, aims to discuss the reasons behind it and analyze what crypto will potentially look like after the election.

Both presidential candidates, Donald Trump and Kamala Harris, have leveraged crypto in their campaigns to garner support from the crypto community. As the report suggests, there are four reasons that crypto has come to the center of the stage.

First of all, crypto is becoming more important to the U.S. On the one hand, no matter which candidate wins, the U.S. deficit and debt burdens are likely to go worse, and “as a decentralized and scarce asset, Bitcoin can serve as an effective tool for governments and investors to hedge against inflation and risk. In particular, it holds potential strategic significance in the face of debt and inflation pressures,” the report points out. On the other hand, stablecoins can help expand the international influence of the U.S. dollar. The growing significance leads to the second reason that the voters are more and more interested in crypto.

Thirdly, as the Biden administration implemented tight regulation on crypto, the industry now calls for a new regulatory framework which is more relaxed.

Lastly, crypto companies have become the main contributors to political donations in 2024. The report indicates that, “these funds not only influence presidential candidates’ policies but also push for congressional election strategies in favor of cryptocurrency. As a result, the crypto industry has moved from behind the scenes into the public eye, becoming a vital force in U.S. politics.”

The report then compared the two candidates’ crypto policies. Harris is expected to be more crypto-friendly than Biden. However, she has made limited statements on crypto policies, and is cautious on key issues like taxation, Bitcoin mining, and self-custody.

Trump, on the other hand, has shown strong interest in the digital asset industry, claiming that he aims to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world”. He has proposed a series of crypto policy proposals, including creating a strategic Bitcoin stockpile, establishing a crypto Presidential Advisory Council, and barring the Federal Reserve from issuing a digital currency. The report anticipates that, should Trump win, there will be a clearer and more relaxed regulatory environment that benefits crypto startups and DeFi. Meanwhile, as Trump has promised to substantially lower U.S. interest rates if he is re-elected, the prices of crypto assets may be driven up thanks to increased liquidity.

The report also discusses the emergence of on-chain prediction markets. Compared to the centralized betting providers, they utilize smart contracts and decentralized ledgers to create transparent global markets, ensuring that these platforms are fair and tamper-proof.

Polymarket is the most successful platform in the sector, which secured 80% of the volume brought on by wagers on the U.S. presidential election. It has been adopted by multiple mainstream media outlets as an alternative news source. As a Web3 prediction market, Polymarket has surpassed its Web2 competitors and holds the largest market share, which is extremely rare. “Prediction markets’ impact has extended into various fields such as public opinion, financial hedging, and business decision-making,” the report states.

To read the full report, please visit: 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at VC@htx-inc.com

Contact Details
Ruder Finn Asia
htx@ruderfinn.com 

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DUBAI, UAE, Nov. 2, 2024 /CNW/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.

Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.

“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.

KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/. 

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SOURCE KuCoin

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VILNIUS, Lithuania, Nov. 1, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the official launch of Legend of Arcadia‘s ARCA token on the BingX launchpool. This highly anticipated event brings a robust reward pool of 800,000 ARCA, inviting users to stake with USDT and BTC in a campaign that combines accessibility for new users with compelling earning potential for all.

Legend of Arcadia (LOA) is a card-based RPG game built on a vast story universe inspired by Kingdom Hearts. LOA is built with the latest technology for the modern gamer, powered by blockchain. This ARCA Launchpool campaign will run for a limited time and participants will have the chance to join three staking pools, one of which is an exclusive newcomer pool for USDT, featuring a capped staking limit of 2,000 USDT and offering 35% of the total reward pool. There is also an additional USDT pool and BTC pool, open to all users. To further amplify rewards, users can participate in an ARCA staking event, maximizing opportunities for participants during this limited-time campaign.

Vivien Lin, Chief Product Officer of BingX, highlighted this launch as an exciting addition to BingX’s expanding GameFi offerings. “The ARCA launch on BingX Launchpool introduces our community to an immersive GameFi experience, where blockchain rewards meet engaging gameplay,” Lin remarked. “The game showcases the type of high-value, innovative GameFi projects we would like to support. We are glad to see a new attempt for sustainable web3 gaming.”

BingX Launchpool offers a user-friendly design for a seamless staking experience, featuring flexible staking and withdrawal options that let users deposit or withdraw assets anytime during the campaign. Rewards are automatically calculated hourly and distributed directly to users’ accounts, with all assets returned upon the campaign’s end. This streamlined process makes staking with BingX Launchpool simple and efficient from start to finish.

BingX Launchpool’s introduction of the ARCA token serves as a bridge, connecting innovative project teams like Legend of Arcadia with a global user base eager for fresh opportunities in the GameFi space. By offering a platform that amplifies visibility and engagement, BingX empowers projects to reach new audiences while enabling users to participate in blockchain-driven experiences. This collaboration highlights BingX’s dedication to enriching its ecosystem, delivering added value to users, and supporting the ongoing evolution of Web3 gaming.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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DUBAI, UAE, Oct. 31, 2024 /PRNewswire/ — Amid rising costs in the U.S., the XRP Healthcare Prescription Savings Card is providing Americans with much-needed relief on medication expenses. Accepted at over 68,000 pharmacies, including major chains like Walmart, Walgreens, and CVS, the card offers savings of up to 80% on prescriptions and over-the-counter medications, free to download on the XRPH app with no hidden fees or subscription costs.

While not a complete solution for financial pressures, the card delivers meaningful savings on repeat medications, especially for those managing chronic conditions like diabetes, high blood pressure, and mental health.

“With financial pressures mounting, our Prescription Savings Card offers a simple, no-cost solution to help families reduce their prescription expenses,” says Kain Roomes, CEO of XRP Healthcare.

Supported by AI-driven guidance through the XRPH app, users can access reliable healthcare information and personalized insights. This digital platform ensures access to trusted advice on managing health concerns affordably, bridging a critical gap in healthcare.

Since launching in 2022, XRP Healthcare has successfully delivered on each phase of its growth roadmap, making significant strides in enhancing healthcare access.

Entering the final quarter of 2024 with strong momentum, XRP Healthcare is set to close the year with impactful mergers and acquisitions in underserved markets like Uganda, furthering its mission to improve healthcare access in emerging regions.

This growth positions the company as a leader in delivering cost-effective healthcare solutions to both established and developing markets.

“Expanding into Uganda represents a pivotal step toward our vision of a truly global healthcare ecosystem,” adds COO Laban Roomes, with a focus on strengthening affordable healthcare options in underserved markets.

About XRP Healthcare

XRP Healthcare is the first pharma and healthcare platform built on the XRP Ledger, leveraging blockchain and AI to transform access to affordable healthcare globally. Headquartered in Dubai, UAE, and Uganda, XRP Healthcare offers solutions like the Prescription Savings Card and an AI-powered chatbot, aimed at making healthcare accessible worldwide. The company’s token, XRPH, is paired with USDT and listed on multiple reputable CEX exchanges, driving innovation in the digital and healthcare sectors.

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SOFIA, Bulgaria, Oct. 29, 2024 /PRNewswire/ — Instacoins, the established Bitcoin brokerage and cryptocurrency services platform, today announced the upcoming launch of its Holiday Bonus Giveaway.

The giveaway will feature a series of bonuses for both new and existing customers, running from Halloween all the way through to the New Year, with the aim of providing tangible rewards for users during the festive season.

“Our Holiday Bonus Giveaway is designed to deliver real value to our customers,” said Kris Farrugia, Instacoins Head of Sales and Marketing. “We’re focusing on practical benefits that make Bitcoin purchases more rewarding, especially during a time when many are looking to diversify their financial portfolios or give unique gifts.”

The Holiday Bonus Giveaway will reward users with a bonus amount of Bitcoin for every qualifying purchase. The bonus size will vary throughout the campaign, and customers who take advantage of multiple offers will benefit from a cumulative reward bonus at the end of the campaign.

Instacoins has built its reputation on providing a streamlined Bitcoin buying process that’s accessible to everyone, including support for eight major global currencies, multiple payment methods to suit various customer preferences, rapid transaction processing, and robust security protocols to protect user assets and data.

To date, clients from more than 120 countries have been served across all continents, resulting in over $500 million worth of transactions in Bitcoin. The Holiday Bonus Program is part of a continued strategy to align cryptocurrency investment opportunities with practical, user-focused advantages.

Over the coming months, Instacoins is also preparing to launch a new suite of products and services to facilitate the real-life use of Bitcoin, as well as other popular cryptocurrencies, in day-to-day transactions for the purchase of goods and services. This will include products related to retail shopping, travel, and accommodation.

Interested individuals can access more information about the Holiday Bonus Giveaway and its specific offers at instacoins.com. The company also encourages users to follow its social media channels for real-time updates on bonuses and promotional offers.

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Contact: 63, Office 1, Tsar Boris III Blvd, 1612 Hipodruma, Sofia, Bulgaria

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DUBAI, UAE, Oct. 29, 2024 /PRNewswire/ — OKX, a leading cryptocurrency exchange and global onchain technology company, today announced the appointment of Standard Chartered, a leading international cross-border bank connecting the world’s most dynamic markets, as a third-party crypto custodian for its global institutional business.

The custody agreement with Standard Chartered is a significant addition to OKX’s comprehensive suite of institutional services, which includes advanced trading capabilities, robust risk management tools and enhanced custody solutions. By leveraging Standard Chartered’s extensive global banking expertise and rigorous risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.

OKX Global Chief Commercial Officer Lennix Lai said: “We selected Standard Chartered as an institutional custodian partner to enhance our offering and accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s extensive global banking expertise and unwavering commitment to security aligns with our objective to provide exceptional crypto services and reinforces the confidence of our institutional clients in managing their digital assets.”

Standard Chartered Global Head of Financing & Securities Services Margaret Harwood-Jones said “We are committed to offering custodial services that meet the highest standards of safety and compliance. Serving as OKX’s third-party custodian allows us to extend our expertise into the evolving cryptocurrency sector, providing institutional investors with the assurance they require.”

This collaboration is expected to attract increased institutional participation in the digital asset market, contributing to a more mature environment for institutions globally. It aligns with the findings of a recently published OKX-commissioned research brief authored by Economist Impact, entitled “Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges,” which highlights institutional investors’ view that digital assets are an inevitable institutional opportunity. The report also finds that 80% of traditional and crypto hedge funds utilizing digital assets employ third-party custodians, highlighting strong demand for segregation of duties related to trade execution and asset custody.

— ENDS —

For further information, please contact:
Media@okx.com 

Wasim Benkhadra
Global Communications Lead, Corporate & Investment Banking (CIB)
Head of Communications, UAE, ME & Pakistan and Africa
Standard Chartered
+9714 5083221
wasim.benkhadra@sc.com 

Or

Kate Matthews
Communications Director, Europe
Standard Chartered
+44 20 7885 7899
kate.matthews@sc.com

About OKX Institutional

OKX Institutional is a global leader trusted by international firms and counterparties, and provides a powerful suite of institutional crypto trading solutions such as an on-demand OTC liquidity network, structured products and managed accounts. OKX infrastructure is built for institutional traders, with unified account systems, integration with leading custodians and low-latency APIs.

With industry leading monthly Proof-of-Reserves and trading volumes, deep liquidity, and 99.99% uptime, OKX combines top-tier security with speed and reliability. It offers access to over 700 spot trading pairs, 280+ derivatives instruments, and up to 125x leverage on leading futures contracts.

To learn more about OKX Institutional, visit: okx.com/institutions or contact institutional@okx.com to accelerate your institutional crypto trading objectives.

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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