Author: News Room
In a landmark development for the financial industry, HSBC has introduced a groundbreaking service to its retail customers in Hong Kong, marking the bank’s foray into the fusion of digital and traditional assets. The South China Morning Post (SCMP) reports that HSBC has launched the HSBC Gold Token, a blockchain-based representation of physical gold, underscoring the bank’s commitment to innovation and digital asset integration. This pioneering initiative, according to SCMP, positions HSBC as the first bank to issue such a product, aligning with both the institution’s and the Hong Kong government’s efforts to digitize real-world assets. The HSBC Gold Token…
Esteemed venture capitalist Marc Andreessen, alongside Accolade Partners and Galaxy Digital, have embarked on a collaborative venture with 1kx with a new $75 million fund. This collaboration comes as the crypto market witnesses a recovery following a two-year protracted downturn. 1kx’s New $75 Million Crypto Fund The infusion of fresh capital by influential investors such as Chris Dixon, a partner at Andreessen Horowitz, into 1kx’s latest fund highlights a growing confidence in crypto. According to Lasse Clausen, a founding partner of 1kx, Accolade Partners plays a pivotal role as the anchor investor in this new initiative. Clausen’s insights reveal an…
Following the debut of the Dencun upgrade and Ethereum blobs, enthusiasts have devised methods to embed data akin to how Ordinal inscriptions operate. Since this development, inscription-based activities now account for over 40% of blob transactions, leading to a significant increase in network activity. This uptick has resulted in a congestion of blob transactions, pushing […] Read the full article here
Two Solana (SOL)-based altcoins surged in price after Coinbase announced they could soon be trading on its platform. On Tuesday, the top US crypto exchange added Shadow Token (SHDW) and Neon EVM (NEON) to its listing roadmap, which alerts customers that the company could soon add support for certain assets. Shadow Token is a cryptocurrency designed for the sustainability and security of decentralized data storage infrastructure. It serves as the native token for the ShdwDrive network, a high-performance cloud storage platform. SHDW, the 241st-ranked crypto asset by market cap, is trading at $2.11 at time of writing and is up…
A widely followed crypto analyst is keeping an eye on altcoins as Bitcoin (BTC) leads the markets with its latest break out. Crypto trader Michaël van de Poppe tells his 708,300 followers on the social media platform X that BTC just needs to stay above $67,000 to retest its all-time high (ATH). “Bitcoin holds above crucial levels. As long as it stays above $67,000, we’ll be good to have another ATH test. Overall, upwards returns seem relatively skewed for Bitcoin pre-halving.” BTC is worth $71,169 at time of writing, just shy of its ATH of $73,737 earlier this month. According to Van…
Matt Hougan, the CIO of the crypto index fund and asset management firm Bitwise, believes inflows into spot Bitcoin exchange-traded funds (ETFs) will continue for years as more investors and institutions adopt the products. In a tweet detailing his experiences during a 20-day road trip, Hougan said he met financial advisors who have already allocated 3% of their client’s portfolios to Bitcoin ETFs and those who have not nursed the thoughts at all, showing a gap in the adoption pace of the products. Bitcoin ETF Inflows Are Long-Term Hougan also engaged with national account platforms approving Bitcoin ETF investments later…
The US 2024 elections are just around the corner and candidates are gearing up for their campaigns. As the decision date comes closer, crypto investors are also watching closely to assess the trajectory of future policies and regulations. The impact of crypto voters in the upcoming US 2024 elections is growing. In the last development in the same suit, a Texas congressional candidate has revealed their fair share of crypto holdings. Read the full article here
As Hong Kong continues its experimentation with a central bank digital currency (CBDC), one non-profit is gleaning upsides for improving the state of global shipping with blockchain technology. The plan involves using blockchain as the underlying technology for electronic bills of lading (eBL). Hong Kong-based non-profit Global Shipping Business Network (GSBN) disclosed that it had successfully completed a prototype eBL in mid-March, earning praise from industry stakeholders. GSBN CEO Bertrand Chen confirmed that the prototype, developed in collaboration with Ant Group, could transform into an industry-wide eBL solution, given its wide reach and Hong Kong’s unique position as a leading…
Gaming-focused layer 1 blockchain Worldwide Asset Exchange (WAX), the 10th largest blockchain by activity, has signed an agreement to use Amazon Web Services (AWS) and integrate its network into the Amazon Managed Blockchain (AMB) service. The AMB service is designed to help developers create decentralized applications on both private and public blockchains. With AMB integration, WAX developers will be able to deploy nodes through the AWS console and use those nodes to build on the WAX blockchain. The WAX blockchain’s native token is up more than 20% in a day, according to CoinDesk. The CoinDesk 20 Index, an overall measure…
Ethereum co-founder Vitalik Buterin has proposed a new framework to incentivize Ethereum decentralization by penalizing correlated failures among validators. According to the research proposal submitted by Buterin, large-scale staking groups, and organizations have an undue advantage over smaller players, creating an imbalance in the decentralized staking sector. “The theory is that if you are a single large actor, any mistakes that you make would be more likely to be replicated across all “identities” that you control, even if you split your coins up among many nominally-separate accounts,” the Ethereum co-founder said. Buterin suggests that validators controlled by the same entity…