Market News

Hong Kong accepts Ethereum for a HKD 30M investment immigration

February 8, 2025 2 mins read

Invest Hong Kong has made a significant move by approving its first investment immigration application using Ethereum (ETH) as proof of assets, valued at HKD 30 million. This decision, confirmed by Certified Public Accountant Clement Siu, marks a pivotal moment in Hong Kong’s efforts to establish itself as a global hub for cryptocurrency. This approval follows the earlier acceptance of Spot Bitcoin and Ethereum ETFs on April 15, 2024. It

Dutch court releases the founder of Tornado Cash from prison

February 8, 2025 2 mins read

On February 7, 2025, Alexey Pertsev, the founder of Tornado Cash, was released from prison after several months. A Dutch court decided to end his pretrial detention, but he will remain under house arrest and monitored electronically. His case has drawn attention from those concerned about privacy and cryptocurrency, marking a significant moment in his legal battle. Pertsev had been detained since 2022 due to allegations of money laundering linked

Gemini reportedly considers an initial public offering (IPO)

February 7, 2025 1 min read

Gemini, a cryptocurrency exchange founded by the Winklevoss twins, is considering an initial public offering (IPO) in the United States. This news was reported by Bloomberg on February 6. The twins, Tyler and Cameron Winklevoss, are well-known figures in the crypto world. Gemini is one of the earliest cryptocurrency exchanges globally. They are currently speaking with potential advisors about the IPO process. However, the decision to go public is still

Ondo Finance announces the new layer 1 Ondo Chain

February 7, 2025 1 min read

Ondo Finance has launched Ondo Chain, a new layer 1 blockchain network aimed at institutional adoption of tokenized real-world assets (RWAs). This announcement comes as the ONDO token has seen significant growth recently, particularly after World Liberty Financial, backed by Donald Trump, purchased more ONDO tokens. Ondo Chain is designed to enhance the adoption of institutional-grade financial markets by offering on-chain solutions. The platform focuses on security and compliance, which

Cboe files a 19b-4 request with the SEC to approve Ethereum ETF options trading

February 7, 2025 2 mins read

Cboe files a 19b-4 request with the SEC to approve Ethereum ETF options trading Cboe has submitted a filing to the SEC to get approval for trading options on spot Ethereum ETFs. This includes popular funds like Bitwise and Grayscale’s Ethereum ETFs. The goal is to speed up the regulatory process for these options. The proposal states that Ethereum ETF options will follow the same rules as other fund share

The US CFTC to review prediction market rules

February 7, 2025 2 mins read

The US Commodity Futures Trading Commission (CFTC) is holding a public roundtable to discuss the regulation of prediction markets. This could affect platforms like Kalshi and Polymarket. The CFTC has recently sought public input on event contracts, indicating a change in its regulatory approach. Acting CFTC Chair Caroline D. Pham criticized the previous regulatory framework, calling it a “legal sinkhole” that hindered innovation in prediction markets. The roundtable will explore

Czech President signs a bill exempting crypto users from paying taxes

February 7, 2025 1 min read

Czech President Petr Pavel recently signed a new bill that benefits crypto users. This law states that if individuals hold their crypto assets for more than three years, they will not have to pay taxes on any profits made from selling them. Additionally, transactions involving amounts up to CZK 100,000 (around $4,136) each year will not need to be reported in tax declarations. This approach aligns with how securities are

Coinbase CLO Paul Grewal will testify before Congress against Operation Choke Point 2.0

February 6, 2025 1 min read

Paul Grewal, the Chief Legal Officer of Coinbase, is set to testify before Congress about Operation Choke Point 2.0. His goal is to advocate for fair regulations for the cryptocurrency industry. This testimony is part of a larger plan to build a better relationship between the crypto sector and the US government. Coinbase has faced legal challenges to expose past regulatory issues while also being open to new laws that

The SEC reassigns 50 staff, scaling back crypto enforcement

February 6, 2025 2 mins read

The SEC is making significant changes to its crypto enforcement team. Over 50 lawyers and staff members are being reassigned to different roles. This decision reflects a new approach to digital asset regulation under President Trump’s administration. The downsizing follows an executive order aimed at promoting digital asset growth by reducing regulatory barriers. Some SEC lawyers who worked on crypto cases are being moved to other positions. A report from

Blackrock (BLK) plans on listing a bitcoin exchange traded product (ETP) in Europe

February 6, 2025 1 min read

BlackRock, the largest asset management firm in the world with over $10 trillion in assets under management, is planning to launch a bitcoin exchange-traded product (ETP) in Europe. This news was reported by Bloomberg. The new fund will be based in Switzerland, and BlackRock may start marketing it as early as this month. This will be BlackRock’s first crypto-linked ETP outside the United States. Their U.S.-based iShares Bitcoin ETF has

LayerZero Labs settles with the FTX estate

February 2, 2025 1 min read

LayerZero Labs has settled a legal dispute with the FTX bankruptcy estate after two years of conflict. Bryan Pellegrino, the co-founder and CEO of LayerZero, shared this news on social media. He explained that the dispute was not about LayerZero versus FTX, but rather LayerZero versus the creditors, of which they are also a part. The legal issues began in 2023 when the FTX estate sued LayerZero Labs. This lawsuit

MicroStrategy launched its convertible preferred stock offering

February 2, 2025 1 min read

MicroStrategy, a business intelligence company, recently announced a significant stock offering. On January 30, the company sold 7.3 million shares of its 8% Series A perpetual strike preferred stock, known as STRK. The public offering price was set at $80 per share. This amount is nearly three times the initial plan of 2.5 million shares. The company expects to raise about $563.4 million from this offering. MicroStrategy plans to use