The post Bitfinex Moves Derivatives to El Salvador After Winning Digital Asset License appeared first on Coinpedia Fintech News El Salvador is one of the prominent crypto-friendly countries . It is the first in the world to make Bitcoin a legal tender . In 2023, it introduced a revolutionary law, called the Digital Assets Securities Law, boosting its efforts to become the global crypto hub. Recent developments indicate that many crypto companies are keen to benefit from the pro-crypto environment in the Central American country. Interestingly, Bitfinex has moved its derivatives arm from Seychelles to San Salvador as it has won a Digital Asset Service Providers license. Let’s dive into the details of this crucial move. Ready? Bitfinex Derivatives Moved to El Salvador In an official statement released to the media, Bitfinex Derivatives has acknowledged the rumours of its relocation from Seychelles to El Salvador. It has also confirmed the report that its DASP licence request has been approved by the Central American country. El Salvador’s Crypto-Friendly Framework Explained El Salvador has a true potential to emerge as a prominent cryptocurrency hub, not only because it holds at least 6,002 BTC, worth $574,644,924 , but also for the fact that it is very eager to develop crypto-friendly policies. The introduction of the Digital Assets Securities Law, in 2023, which supports tokenisation of assets like funds, debit, equity and even real estate, is a good example. Bitfinex Securities became one of the first crypto companies to recognise the vast potential of this law. It earned a local DASP license just a couple of months after the law’s introduction. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Coinbase Secures Legal Victory as Court Approves Interlocutory Appeal in SEC Case , Bitfinex’s Tokenised Offerings in El Salvdaor Demonstrating the tremendous potential of the tokenisation law of El Salvador, Bitfinex launched a tokenised public offering of US Treasury bills in November 2024. Earlier, a similar effort by the exchange to tokenise a Hilton hotel project in July 2024 failed miserably, as the $342,000 fund raised was far lower than the project’s minimum requirement of $500,000. In conclusion, El Salvador’s progressive crypto regulations are attracting global players like Bitfinex. 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This law, introduced in 2023, supports the tokenisation of assets like funds, equity, and real estate, encouraging crypto growth. What is Bitfinex’s tokenisation? Bitfinex launched tokenised public offerings, including US Treasury bills, demonstrating El Salvador’s potential as a crypto hub.
Finnish Police reportedly seized $2.6 million in expensive watches belonging to Hex founder Richard Schueler, who is also known as Richard Heart. Heart is accused of tax evasion and assault in the country, with authorities still unable to determine the founder’s location, according to the report . Luxury watches worth millions confiscated The Finnish Police confiscated 20 high-end timepieces, most of them Rolexes and all of them believed to belong to Heart, from an Espoo residence, according to Finland’s national broadcaster Yleisradio Oy (Yle). The value of the watches, as estimated by receipts and expert appraisals, is $2.68 million. According to the investigation report, some of the watches were purchased in the United States; however, a large chunk were purchased in Finland. Inspector Harri Saaristola, who conducted the inquiry, stated that these luxury watches were abandoned, adding a peculiar twist to the ongoing operation against Richard Heart. Richard Heart is a wanted offender with a trail of allegations Schueler’s legal troubles gained momentum on Sept. 13, 2024, when Finnish authorities remanded him. The arrest followed allegations of tax evasion of several hundred million euros and a violent assault that allegedly occurred in February 2021. In this criminal case, Schueler is accused of assaulting a 16-year-old victim, and physically assaulting the minor. Adding to his legal problems, Interpol issued a “Red Notice” against Heart on Dec. 22, 2024, making Heart one of Europe’s most wanted fugitives. Finnish officials estimate that his unpaid taxes are several hundred million euros, while his income in 2023 alone was €15.2 million ($16.9 million). Richard Schueler, a well-known person in the cryptocurrency space, founded several cryptocurrencies including HEX, PulseChain (PLS), and PulseX (PSLX). However, his cryptocurrency attempts haven’t gone unnoticed. The US Securities and Exchange Commission (SEC) sued Schueler in July 2023 alleging that all three tokens, which collectively raised more than $1 billion, were unregistered securities. Since reaching their all-time highs, all three tokens have undergone substantial price drops. CoinMarketCap data shows that PLS, HEX and PSLX are down more than 80% from their respective peaks. HEX posted the biggest losses, and is over 99% down from the high of $0.5561 it set on Nov. 16, 2021. The SEC also accused Schueler of misusing investor funds to flex his opulent lifestyle including the acquisition of a 555-carat diamond, luxury cars, and high-end watches, which have been successfully seized by Finnish authorities. Apparently there's a contest with prizes going on right now. The answer to your dreams is marketing. Promotions positively pressure price performance. I wish Satoshi sent me a letter letting me know about Bitcoin in 2008. Please peruse potential prose: https://t.co/dKqhSn2QtD … — Richard Heart (@RichardHeartWin) January 8, 2025 Despite all these allegations, Schueler stays active on social media and continues to promote the HEX cryptocurrency without saying a word about his legal issues. Marketed as a “high-interest blockchain certificate of deposit”, HEX has polarized the crypto community. Some investors and experts regard it as an innovative financial tool. However, others see it as a potential Ponzi scheme owing to its structure and focus on recruiting new users. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Two of the largest cryptocurrencies, Bitcoin and Ethereum, fell sharply today as fears of prolonged inflation weighed on global markets. Bitcoin and Ethereum Prices Drop Amid Inflation Concerns, Market Volatility Bitcoin (BTC): After briefly breaking the $100,000 mark earlier this week, it fell 5% to $96,527. Ethereum (ETH): It fell 8.5% in the last 24 hours to $3,314. Other Cryptocurrencies: Major tokens like Dogecoin (DOGE) and Avalanche (AVAX) saw losses exceeding 10%. Macro Fears Trigger Market Pullback The decline follows macroeconomic signals pointing to persistent inflation and tighter monetary policies. Stock Market Impact: U.S. stocks also declined, with the NASDAQ and S&P 500 down more than 1% on Tuesday. Inflation Concerns: Faster-than-expected growth in the U.S. economy, according to ISM data, has fueled concerns about long-term inflation. Bond Yields Rise: The yield on 10-year Treasury notes rose to their highest level since April, reflecting investors' concerns. “Both crypto and traditional markets are reacting to the Federal Reserve’s decision to maintain higher interest rates for longer, coupled with inflation fears,” said Min Jung, an analyst at Presto Research. The Federal Reserve and Market Sentiment Comments by Federal Reserve Chairman Jerome Powell in December hinted at a determined approach to inflation control, dampening hopes that interest rates would be cut soon. Analysts expect the Fed to keep its target interest rate between 4.25% and 4.5% at its meeting on Jan. 29, according to the CME FedWatch Tool. “Jerome Powell’s comments in December, coupled with stronger-than-expected U.S. economic data, have heightened market jitters and led to increased volatility across both crypto and traditional asset classes,” said Rachael Lucas, crypto analyst at BTC Markets. Trump’s Inauguration Holds Major Importance President-elect Donald Trump's inauguration on January 20th increases uncertainty in the market. Analysts suggest that Trump’s crypto-friendly administration could signal a shift in US economic and cryptocurrency policies, with key appointments such as Scott Bessent as Treasury Secretary and Elon Musk as advisor. *This is not investment advice. Continue Reading: Bitcoin Couldn't Hold Above $100,000! Here Are the Factors That Triggered the Fall!
Bitcoin has surged over 50% since November 2024. Technical analysis reveals potential bearish patterns and key support levels. Continue Reading: Bitcoin Faces Potential Decline as Patterns Signal Caution The post Bitcoin Faces Potential Decline as Patterns Signal Caution appeared first on COINTURK NEWS .
Bitcoin's drop from $102K to $96K in a day marks the second shake-up in under a month. Is this the beginning of the end?
Bitcoin ETFs have become a focal point in the crypto landscape, showcasing significant volatility as both optimism and caution permeate the market. Tuesday saw a stark contrast in Bitcoin ETF
BNB Designated as Strategic Reserve Asset in Bhutan, Says CZ ————— 💰Coin: BNB ( $BNB ) $696.90 ————— NFA.
Bitcoin’s recent surge beyond $100,000 signals a pivotal moment as it begins to diverge from traditional equity markets, hinting at a potential new bull run. Analysts are observing a significant
Hyperliquid (HYPE) token is once again in the spotlight as validators have raised concerns about its centralization and lack of transparency. The topics of major challenges including closed source code, centralized API dependence, and closed decentralization have generated discussions across crypto. As a result, HYPE token price suffered a sharp drop of 15% in the last 24 hours amid the broader market volatility. With increasing demands for transparency, the project’s future remains under a critical challenge . Hyperliquid Responds to Validator Decentralization Concerns Hyperliquid has come under fire following claims about decentralization flaws raised by Kam , a well-known figure in the crypto community. Kam, in a detailed post on X, highlighted concerns about the platform’s validator structure, accusing it of being overly centralized and closed to wider participation. He also alleged that the current system restricts competition and creates barriers for validators outside the initial testnet participants. In so doing, Hyperliquid released a press statement in response to the accusations. The platform emphasized that all validators earned their positions based solely on testnet performance, rejecting accusations that seats could be purchased. Hyperliquid noted that such allegations trivialize the effort taken, by validators who dedicated a lot of time to learning and aiding to evolve the system. In an effort to further decentralize the network, the exchange has announced plans to develop the validator set as the blockchain ages. The Foundation Delegation Program is introduced to back the high-level validator and build up a more decentralized ecosystem. The group also dispelled the misconception about API server availability, that it is possible to run any server pointing to any node. Hyperliquid addressed concerns about the closed-code status of its existing node. The platform assured users that open sourcing will happen once development stabilizes and becomes secure. Hyperliquid’s Stance on Testnet Tokens and Market Innovation Responding to calls about testnet tokens, Hyperliquid restaffed the company’s position against a black market for testnet HYPE. This also presented current work to better the participation onboarding of subjects. The platform reaffirmed its commitment to fast innovation. It aims to put all financial transactions on-chain in a transparent and inclusive way. At the same time, dYdX’s CEO, in another statement, commented on the current controversy in that the criticisms against Hyperliquid’s validator model. He added that it is common for early-stage projects to face scrutiny regarding centralization as they scale and mature. He acknowledged the criticisms but stressed the need for robust technical systems. HYPE Token Price Drops Amid Concerns HYPE token has dropped sharply by 15% over the 24 hours to date and was trading at $21.62. The 24-hour low and high were $21.25 and $26.29, respectively. The market cap of the token was $7.24 billion and the trading volume was $213 million. As per Coinglass data, Hyperliquid Futures’ trading volume reached $7.45 billion, with $3.47 billion in open interest. HYPE Price Meanwhile, this Hyperliquid concern also comes amid soaring interest in the HYPE token. Notably, despite the recent dip, the token has added about 64% over the last 30 days. Besides, a recent CoinGape report showed that Solana’s price fell after a whale dumped its Solana reserves and exchanged them for HYPE . On the other hand, Hyperliquid mainnet has recently revealed a major update, which has also fueled market optimism. In a recent announcement, the project introduced the HYPE token staking feature on its decentralized exchange. The post Hyperliquid Under Fire As Validators Expose Key Decentralization Flaws appeared first on CoinGape .
The post Solana Price Hits Shallow Waters, To Retest $181 Before the $300 Mark? appeared first on Coinpedia Fintech News The cryptocurrency market has experienced a strong bearish pullback in the past 24 hours. This has resulted in top tokens breaking down their important support levels. Moreover, the SOL price has recorded a similar price action by dropping below its $200 watch level. Will the self-claimed “Ethereum-Killer” regain momentum and surpass the Binance (BNB) token to become the 05th most valued crypto token by this weekend? In this article, we present the possible short-term possibilities of the Solana (SOL) token. SOL Price Loses ~10%, Stands Below $200! The Solana price has plunged below its important price level of $200 with an intraday drop of 9.62%. Notably, with a trading volume of $5.243 billion, this altcoin has experienced a significant setback this week, indicating an increase in the bearish influence. TradingView: SOL/USDT With a Year-to-Date (YTD) return of +3.48% and a market capitalization of $94.719 billion, the Solana crypto is currently the 06th largest cryptocurrency by valuation. Solana (SOL) Technical Sentiments The Relative Strength Index (RSI) records a sharp decline below the neutral point of the SOL price chart in the daily time frame. Further, with its average trendline recording a bearish convergence, this altcoin may continue losing value this week. The EMA 50-day shows a negative curve in the Solana price chart, indicating a bearish price sentiment. However, the 200-day EMA is strong support, highlighting room for a potential bullish reversal in the upcoming time. Is Solana A Hold Or Sell? If a bullish reversal occurs, the SOL coin price could reclaim the $200 mark and head toward its important resistance level of $209. Suppose, the bullish sentiment sustains at that point, this could push the price of this altcoin toward its upper high of $225. Conversely, if the bears outrun the bulls, the Solana token could drop toward its support level of $190. Moreover, if the bearish sentiment intensifies, this could pull the price toward its crucial support level of $181. Curious to find out if the SOL crypto coin will ever reach $1000? Read CoinPedia’s Solana Price Prediction to uncover the possible mysteries until 2030! FAQs How much is Solana worth today? With a 24-hour trading volume of $5.099 billion, the SOL crypto token is presently exchanging hands at $196.04. How much will 1 Solana be worth in 2025? With a potential Solana ETF filing, its native token could conclude the year with a high of $400. What was Solana’s highest price in history? The all-time high (ATH) of SOL coin is $263.83 and was recorded on 23rd November 2024.