- Institutionally-Focused Crypto Exchange Bullish Partners With Market Maker B2C2 in Liquidity Drive
Bullish, a technology company that operates institutionally-focused digital asset platform trading platform Bullish exchange, has partnered with crypto liquidity provider B2C2.
The partnership aims to provide trading liquidity to crypto institutions. It is not known how much of B2C2’s trading volume is committed to trading via Bullish.
B2C2 is a Japanese crypto market maker and liquidity provider. In December 2020, it was acquired by Japanese financial giant SBI Financial Services in what was seen at the time as the first major financial firm to own a crypto desk.
- Biggest Movers: LTC Back Under $90.00, as SOL Extends Declines
Litecoin (LTC) was down for a second straight session on Monday, as markets prepared for the upcoming United States Federal Reserve policy decision.
LTC/USD dropped to low at $86.83 earlier in today’s session, which comes 24 hours after trading at a high of $91.39.
Today’s drop in price has pushed litecoin to its weakest point since last Wednesday, when the token was at a low of $84.21.
LTC/USD – Daily Chart
Looking at the chart, Monday’s move came as the relative strength index (RSI) fell to a support level at 44.00.
At the time of writing, the index is tracking at 44.80, with an upcoming ceiling of 50.00 a potential target for bulls.
Should this point be hit, there is a strong possibility that LTC will move back above the $90.00 mark.
https://news.bitcoin.com/biggest-movers-ltc-back-under-90-00-as-sol-extends-declines/
- Bitcoin Rally Puts MicroStrategy in the Green for First Time in 9 Quarters
MicroStrategy, the largest public holder of Bitcoin, posted a profit for the first time in nine quarters thanks to a hefty rise in the price of BTC let the firm turn to a tax benefit.
The business enterprise company has been accumulating Bitcoin since August 2020 and it contributed significantly to the company’s negative balance sheet.
The company has had to realize an impairment charge on its taxes due to losses on its Bitcoin holdings. These losses are recorded as an expense on the company’s income statement, which reduces its reported profits.
However, things changed as Bitcoin ended Q1 2023 with an impressive 70% rally.
https://decrypt.co/138454/pepe-coin-enters-markets-top-100-cryptocurrencies-soaring-overnight
- Aussie Crypto Exchange Kicks Off US Expansion Despite ‘regulatory Risk’
Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the market’s “regulatory risk.”
In an interview with The Australian on May 1, Coinjar CEO and co-founder Asher Tan said he saw opportunity despite a recent wave of U.S. crypto firms sounding alarm bells over the government’s approach to regulation.
“Where other exchanges see regulatory risk, we see opportunity,” he said, adding:
“We’ve always understood that regulation has a key role to play in crypto’s future and we believe the American market will reward an exchange with our unparalleled compliance bona fides.”
https://www.binance.com/en/news/flash/7533940
- Bybit joins crypto exchanges offering crypto lending services
Cryptocurrency exchange Bybit is the latest major platform to roll out an in-house cryptocurrency lending service for users.
The Dubai-based exchange announced the service’s launch on May 2, delivering interest payouts to users that deposit cryptocurrency through the platform’s new offering. The service is touted to payout hourly interest payments from lending pools, while lenders can deposit and redeem loaned cryptocurrency tokens without lock-up periods.
Meanwhile, borrowers on Bybit’s exchange can take out loans to tap into funds for various trading options on the platform. Borrowers must post an equal or greater amount of collateral assets in relation to the loan amount to safeguard lenders’ investments.
https://cointelegraph.com/news/bybit-crypto-exchange-launches-crypto-lending-services
- ‘Bitcoin Request for Comment’ Tokens Surge to $137M in Market Value
Interest in “Bitcoin Request for Comment” or BRC-20 tokens built with Ordinals and stored on the Bitcoin base chain has skyrocketed, lifting their market value by several hundred percent.
As of writing, the combined market cap of more than 8,800 BRC-20 tokens was $137 million – a staggering 682% rise from $17.5 million seen a week ago, according to data tracked by Ordinals-builder Ordspace. (For a brief moment early Tuesday, the website showed the total market cap at $2.93 billion. Ordspace said the figure wasn’t accurate and likely resulted from low liquidity in some of the tokens.)
A pseudonymous on-chain analyst named Domo created the BRC-20 token standard in early March to facilitate the issue and transfer of fungible tokens on the Bitcoin blockchain. The experimental invention came weeks after Ordinals Protocol went live, allowing users to inscribe digital art references into small transactions on the Bitcoin blockchain.
- ‘US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
A United States Federal Court recently handed down a default judgment and permanent injunction against Johann Steynberg, the CEO of the now-defunct bitcoin ponzi Mirror Trading International (MTI). According to a statement released by the U.S. derivatives regulator the Commodity Futures Trading Commission (CFTC) on April 27, Steynberg is required to pay $1,733,838,372 in restitution to defrauded victims and a $1,733,838,372 civil monetary penalty.
The derivatives regulator’s statement also revealed that the penalty handed down by the court “is [the] highest civil monetary penalty ordered in any CFTC case.” The court action itself is reported to be the “largest fraudulent scheme involving Bitcoin charged in any CFTC case.”
- Bitcoin Rally Puts MicroStrategy in the Green for First Time in 9 Quarters
MicroStrategy, the largest public holder of Bitcoin, posted a profit for the first time in nine quarters thanks to a hefty rise in the price of BTC let the firm turn to a tax benefit.
The business enterprise company has been accumulating Bitcoin since August 2020 and it contributed significantly to the company’s negative balance sheet.
The company has had to realize an impairment charge on its taxes due to losses on its Bitcoin holdings. These losses are recorded as an expense on the company’s income statement, which reduces its reported profits.
However, things changed as Bitcoin ended Q1 2023 with an impressive 70% rally.
The company reported an impairment loss of $18.9 million for the quarter, down from the last quarter’s $197.6 million in reported losses.
The gains also allowed MicroStrategy to repay its $205 million Bitcoin-backed loan with Silvergate Bank.
https://decrypt.co/138564/bitcoin-rally-puts-microstrategy-green-first-time-9-quarters
- Russia Defies Sanctions With Crypto for Cross-Border Transactions
While the United States regulators have continued to see cryptocurrency as a major threat, other countries, such as Russia, are beginning to pay attention to the technology’s potential while experimenting with its potential.
In recent years, sanctions have become an increasingly common tool countries use to exert pressure on their political rivals. The impact of these measures has been significant for Russia, as several rounds of economic sanctions have targeted it in response to the invasion of Ukraine.
However, despite its challenges, Russia is now looking to use cryptocurrency to help it bypass these restrictions and conduct cross-border transactions.
https://www.binance.com/en/news/flash/7533631
- More crypto exchanges list PEPE following trading frenzy
On May 1, cryptocurrency exchange OKX announced that it would be listing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote:
“Pepe the Frog is a cartoon character and internet meme created by cartoonist Matt Furie. Pepe was designed to be a green frog with a human-like body; this is one of the most popular memes in the world.”
Several cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io and Huobi, listed Pepe trading pairs two weeks prior, stirring what appears to be a trading frenzy. The token has returned 2,340% since April 17 and is now trading at $0.000001223 apiece at publication. Following news of the OKX listing, Pepe’s price has surged over 50% in the past 24 hours.
https://cointelegraph.com/news/more-crypto-exchanges-list-pepe-following-trading-frenzy
