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Crypto Morning Briefing: Hong Kong Signals Licensing Over 8 Crypto Companies by Year-End

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Hong Kong Signals Licensing Over 8 Crypto Companies by Year-End

The Hong Kong Securities and Futures Commission (SFC) has signaled its intention to license over 8 crypto companies by the end of the year. The move is part of a broader effort by the Hong Kong government to regulate and legitimize the cryptocurrency industry.

Tron Founder Justin Sun Reportedly Lost His Diplomatic Status

Justin Sun, the founder of Tron, has reportedly lost his diplomatic status. Sun had been granted diplomatic status by the government of Saint Kitts and Nevis, a small island nation in the Caribbean, in 2022.

Magic Eden’s New Bitcoin NFT Marketplace Dominates Ordinals Market

The Solana-based NFT marketplace, Magic Eden, has emerged as a leader in the trading of digital collectibles inscribed on individual satoshis - the smallest unit of measure that Bitcoin can be divided into.

Hong Kong Turns to Japan for Advice After ‘Mind-Boggling’ Web3 Influx

In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets.

Stablecoin Supply Shift: TUSD Jumps 110% While Others Experience Reductions

The supply of TrueUSD (TUSD), a stablecoin pegged to the US dollar, has jumped by 110% in recent weeks, while other stablecoins have experienced reductions in their supply. The article notes that the shift in stablecoin supply is part of a broader trend of increasing adoption and usage of stablecoins, as more businesses and individuals seek to participate in the cryptocurrency market and take advantage of the potential benefits of blockchain technology and stablecoins.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $28,116.88 USD, dropped by 1.10% in the last 24 hours;

ETH’s live price is $1,793.55 USD, dropped by 0.62% in the last 24 hours;

BNB’s live price is $316.96 USD, jumped by 0.50% in the last 24 hours;

XRP's live price is $0.53 USD, dropped by 2.51% in the last 24 hours.

Fundraising News

Crypto Hardware Wallet Maker Ledger Raises Most of $109M Round

Ledger has raised most of a €100 million ($109 million) funding round at a €1.3 billion ($1.4 billion) valuation, the company told Bloomberg. Media outlets first reported on a potential new capital raise last August.

Bitcoin Bitcoin $66,004.44
-0.23%
Hong Kong Justin Sun NFT Japan Web3 stablecoin TUSD
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