Happy Tu(n)esday, my crypto crusaders! 🎶
Are you curious about how your crypto investment strategy can impact your portfolio? 💰 Well, get ready to bust out those air guitars, because today we’re talking about the power of a solid investment plan.
If you’re ready with some big crypto energy, We’ve got some juicy news for you.
💰 Hong Kong is Leaving US Behind?
💣 Secret Service Has A NFT Collection
🎨What’s Bitcoin For? Editor’s Desk
💶 Robinhood layoffs 150 Staff
Hong Kong Jumps Offers Bitcoin and Ether ETFs! 🚀
HSBC Hong Kong is leading the cryptocurrency revolution! 💥Yes, you heard it right! 🔥 The biggest bank in the special administrative region of China is offering its customers the chance to trade Bitcoin and Ether ETFs listed on Hong Kong’s exchange. 🤑
In other news, the U.S. Securities and Exchange Commission (SEC) is still reviewing applications for a Bitcoin ETF, including one from BlackRock, the world’s largest asset manager. But who cares? 🤷♀️ Hong Kong is miles ahead of the US 🇺🇸 in the crypto space, and Tyler Winklevoss, CEO of Gemini, thinks so too. He said, “Hong Kong has just beat the USA to the punch on a bitcoin ETF…and ether ETF.” 🥊
According to Colin Wu, a Chinese blockchain journalist, some of the crypto ETFs listed in Hong Kong 🇭🇰 include the CSOP Bitcoin Futures ETF, the CSOP Ethereum Futures ETF, and the Samsung Bitcoin Futures Active ETF. Exciting stuff! 🚀
The regulators explained that due diligence should not create an “undue burden” to accepting crypto clients – and HSBC has listened, baby! 👶
Hong Kong has become increasingly friendly to crypto publicly, in contrast to mainland China’s rigid stance on digital currencies. 🙅♀️
Meanwhile, the rest of Asia 🌏 is warming up to crypto, while mainland China remains cold – a contrast in attitudes that some insiders believe could ultimately lead to China lifting its crypto ban. 🤞
The main question is, will the US be able to catch up to Asia’s crypto supremacy? 🤔
Secret Service Has A NFT Collection, But No, You Can’t Buy It” 😎
Have you heard about the United States Secret Service’s non-fungible token (NFT) collection on OpenSea? Yes, you heard it right! The secret agents have their own NFTs now! 🔥
During a Reddit AMA, agents from the Secret Service’s San Francisco Field Office revealed that the NFT collection was an attempt to better understand how NFTs work. And, it also serves as a forward-facing example of the agency’s interest in the broader crypto ecosystem. 🕶️
Each agent in the DATA Squad has their own unique NFT, which was specifically personalized to each field agent. And, let’s not forget about the creative representations on the NFTs! Special Agent Alfonso Speed was depicted standing on top of the notorious prison Alcatraz. That’s some serious swag! 💪
While the NFTs have received multiple offers, ranging from $5 to $37, no offer has been accepted so far. Let’s be honest, these NFTs were never created to be offered for sale. 💰
Despite the perception that law enforcement doesn’t know what they’re doing in the crypto space, the agents on the DATA taskforce take a positive approach to crypto. Many of them even own crypto and NFTs themselves! 🚀
So, folks, next time you’re on OpenSea, keep an eye out for those Secret Service NFTs. They may not be for sale, but they sure are fun to look at! 😎
What’s Bitcoin For? Swiss Army Knife or Just a Hedging Tool? BlackRock Knows Better
Hey there crypto amigos! 🤠 I’m here to talk about the age-old question: what the heck is Bitcoin for anyway? 💰 With big-name financial firms jumping on the Bitcoin bandwagon, this question becomes even more urgent. So, let’s dig in! ⛏️
Is Bitcoin an alternative store of value, like gold, or is it a payment vehicle for those left out of the financial system? Is it an activists’ tool, or a record-keeping platform? 🤔 I like to think it’s all of the above, like a Swiss Army knife of cryptocurrencies! 🇨🇭
But, if the SEC approves BlackRock’s or WisdomTree or Invesco’s ETF applications and shows support for EDX crypto exchange, we may see a shift in the narrative. If Bitcoin is purely viewed as a hedging instrument for investors, it will play into the ongoing regulation push in Washington D.C. 🏛️ That’s not great news for those who see Bitcoin as a tool for financial inclusion or for people under oppressive systems to safely move money around. 😔
The biggest implications involve privacy, KYC rules, and so forth. If the establishment recognized Bitcoin as a form of money, then the argument for greater privacy is stronger. 🤫 But, if the conversation in the U.S. shifts towards seeing Bitcoin merely as an investment vehicle, it’s harder for people to argue against greater KYC demands by regulators. 😕
What does this mean for innovative projects like the Taproot Wizards and new BRC-20 tokens? KYC at the exchange level hinders the global reach of these projects if initiatives like the Financial Action Task Force’s crypto “travel rule” impose reporting rules on self-custody wallets. 🌍
So, there you have it, folks. Bitcoin is a jack-of-all-trades, but its narrative dictates policy, which can have far-reaching implications. If we want to see Bitcoin used for financial inclusion and as an activist tool, we need to keep fighting for privacy and resist being pigeonholed as just another investment option. 🥊
Robinhood layoffs 150 Staff . Will Crypto Trades Suffer?
🗞️ Its time for some news on Robinhood! The online brokerage firm is reportedly laying off around 150 full-time staff, which is 7% of its total workforce. This is their third round of layoffs in just over a year, indicating that they are struggling to adjust to volumes and to better align team structures.
This news is not confirmed or denied by Robinhood, but it’s clear that the company is trying to ensure operational excellence in how they work together. And, the recent delisting of several digital assets indicates that Robinhood is facing regulatory pressure to comply with industry standards. 🔍
So, how will this impact the crypto space? 🤔 Well, Robinhood has been a significant player in the crypto market, offering popular trading options for Bitcoin, Ethereum, and other cryptocurrencies. With their recent struggle to align team structures, it’s unclear how this will affect their ability to provide reliable services to their users in the crypto space.
Furthermore, Robinhood’s acquisition of X1 in a $95 million cash deal is a sign that they are seeking to diversify. This move could potentially mean that Robinhood will focus on other financial products and services rather than digital assets. 📈
Honorable Mentions 🏆
- 💰 Fireblocks Adds Support for Amazon Web Services, Google Cloud Platform and Alibaba Cloud
- 🚀 WisdomTree exec says data sharing agreements are a “key part” of Bitcoin ETF applications
- 🔥 Rugby Champion Jarryd Hayne Lost Almost $800K in a Bitcoin Scam: Report
Crypto Market Watch
Investing in Bitcoin every month with a dollar-cost averaging (DCA) strategy can be an effective long-term investment strategy. This involves buying a specific dollar amount of a specific crypto at regular intervals, regardless of short-term price volatility.
Bitcoin’s potential for long-term appreciation makes it more suitable for DCA. Back-testing this strategy shows excellent historical results.
For instance, investing $100 every month in Bitcoin for the past three years would have turned $100 into $18,570 despite a huge market downturn earlier in the year. So, if you’re looking for a “set it and forget it” crypto investment strategy, DCA with Bitcoin may be worth considering.
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
