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Cointime March 24th News Express

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  • Hong Kong’s virtual asset ETF market has established a mature structure including exchanges, market makers, primary and secondary custodians, etc.

    Wang Long, Chairman of the Greater Bay Area Financial Professionals Association, pointed out in an article published in Ta Kung Pao entitled "Web3.0 Promotes Diversification of Financial Products" that although Hong Kong's ETF market is still in its development stage compared to the United States, it has established a mature architecture, including exchanges, market makers, primary and secondary custodians, etc. The Hong Kong Securities and Futures Commission has approved six virtual asset spot ETFs and 14 virtual asset spot ETFs, including Hong Kong dollars, US dollars, and renminbi categories, for trading on platforms holding the Hong Kong Securities and Futures Commission license. Nowadays, more and more global investors are paying attention to how to invest in virtual assets, and both the United States and Hong Kong, China have approved the listing of ETF funds for virtual assets, and the investment scale is rapidly increasing.
  • Bloomberg ETF Analyst: XRP ETF may be the next exchange-traded fund product to be launched

    Bloomberg ETF analyst James Seyffart forwarded market news on X platform, stating that during the Bitcoin 2024 conference, Discover Crypto CEO Joshua Jake was interviewed and he said that XRP ETF could be the next possible exchange-traded fund product to launch.
  • Hong Kong's financial industry may study launching stablecoin trading desks and institutional custody services

    Hong Kong Monetary Authority recently announced the list of participants in the stablecoin issuer sandbox, including JD Coin Chain, Circle Coin Innovation, Standard Chartered Bank, Anni Group, Hong Kong Telecom and other institutions. Research reports released by Zeng Shengjun, a researcher at the Greater Bay Area Financial Research Institute of the Shenzhen Branch of Bank of China, and Guan Zhenqiu, a researcher at the Hong Kong Financial Research Institute of Bank of China, analyzed that the Hong Kong dollar stablecoin can improve the efficiency and inclusiveness of the Hong Kong financial system. Its stability, free convertibility, high security, high open source and cross-border mobility can provide support for a wider range of financial innovations.
  • Harris: Ready to debate Trump on September 10

    US Vice President Harris told reporters that she is ready to debate with Trump on September 10th. She said: "I agree to the previously agreed upon September 10th debate. He (Trump) agreed before, but now he is backing out. I am ready, and I think voters should see the division in this election on the debate stage, so I am ready. Let's get started." It is reported that Harris has gained enough support from delegates and is expected to become the Democratic candidate. The Democratic National Convention will be held in Chicago from August 19th to 22nd.
  • Vitalik: The ultimate decision on the success of cryptocurrency is the practical application of technology

    Vitalik, the co-founder of Ethereum, recently stated on the "Bell Curve" podcast that the actual application of technology determines the success or failure of cryptocurrency. If cryptocurrency can become mainstream, or at least a trusted alternative like Linux, then it can be considered a success.For example, Ethereum accounts can replace social account logins, or cryptocurrency can become a part of the financial system, DAO can become an alternative for enterprises or non-profit organizations, and decentralized social media or prediction markets can succeed.On the other hand, if the cryptocurrency field is remembered as a group of idealists gradually decreasing their cries, or a group of people trading digital monkeys and celebrity photos, it would be a disappointing result.
  • Biden speaks out on withdrawing from 2024 US presidential election

    On the 24th local time, US President Biden gave a speech in the Oval Office of the White House, explaining the reasons for his withdrawal from the 2024 presidential election. On July 21st local time, US President Biden announced his withdrawal from the 2024 presidential election. In a letter posted on his personal social media that day, Biden said that he had intended to seek re-election, but for the best interests of the Democratic Party and the United States, he decided to withdraw from the presidential race and focus on fulfilling his presidential duties during his term.
  • US Congressman: Taxing Bitcoin Miners Would Be Bad for America

    US Senator Cynthia Lummis stated that taxing Bitcoin miners would be detrimental to the United States. "The Biden administration's dangerous plan to tax Bitcoin miners is a blatant attack on innovation."
  • Biden makes first public appearance since announcing his withdrawal from the race

    On July 24th, it was reported that Joe Biden made his first public appearance since July 17th, which was also his first public appearance since dropping out of the presidential race. During the event, Biden did not respond to questions from reporters regarding the election or his health. Prior to this, it was announced that Biden would deliver a national address at 8pm EST on Wednesday (8am Beijing time on Thursday).
  • U.S. House Speaker calls on Biden to resign "immediately"

    After Biden announced his withdrawal from the election, Republican House Speaker Johnson called on Biden to resign "immediately". Johnson said in a statement, "If Biden is not suitable to run for president, he is not suitable to be president. He must immediately resign from the presidency." Johnson said that more than 14 million Americans chose Biden as the Democratic presidential candidate, but the party that called itself "Democratic" announced that their votes were invalid. As the Speaker of the House of Representatives, Johnson ranks second in the presidential succession order, second only to Harris.
  • Meta reportedly cut metaverse budget by 20% as Q2 earnings call looms

    Despite Q1 company earnings rising 27% year-over-year, Reality Labs will have to cut costs.