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alexandrat

@alexandrat #797782

alexandrat
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The Hong Kong Securities and Futures Commission plans to approve a batch of new crypto licenses by the end of this year. So far, there are 11 crypto platforms being considered for licenses.

In an interview with news outlet Hong Kong 01, CEO of the China Securities Regulatory Commission, Liang Fengyi, announced that the SFC will be giving out licenses in batches to Virtual Asset Trading Platforms.

The SFC has recently issued three licenses for crypto exchanges operating in the region, including the Hong Kong Virtual Asset Exchange, OSL Exchange and HashKey Exchanges.

Apart from the three licensed platforms, 11 other platforms have applied for an SFC-issued licenses and are currently awaiting approval.
New Binance CEO Sees No Need for IPO as He Plots 100-Year Strategy for Crypto Exchange

Richard Teng, who replaced founder Changpeng "CZ" Zhao in November, is playing the long game . NEW YORK — Richard Teng ascended to the top of cryptocurrency behemoth Binance last year via less-than-ideal circumstances as his predecessor, Changpeng "CZ" Zhao, was forced to quit the exchange as part of a multi-billion-dollar settlement with the U.S. government.

But on the plus side, he inherited a CEO job at a profitable cornerstone of the crypto industry – albeit one he aims to grow and mature
Genesis, an institutional lending platform that filed for bankruptcy in 2023, announced the completion of its Chapter 11 restructuring plan on Aug. 2 and the disbursement of approximately $4 billion in funds to the injured parties.

As part of the plan, Bitcoin

BTC

tickers down

$61,899

creditors “will receive 51.28% recoveries as valued on an in-kind basis in the form of BTC,” and Ether

ETH

tickers down

$2,994

creditors will receive 65.87% recoveries paid out in the digital currency.

Most altcoin creditors will receive 87.65% recoveries of their digital assets, with Solana

SOL

tickers down

$152

being the notable exception. Creditors reclaiming SOL holdings will be subject to a 29.58% recovery rate, once again payable on an in-kind basis. Stablecoin and cash creditors are eligible to recoup 100% of their losses in the form of US dollars, according to the restructuring plan.
Bitcoin To Have a ‘Great Second-Half’ of 2024, Says Crypto Analyst Michaël van de Poppe – Here Are His TargetsVan de Poppe goes on to say that envisions the top crypto asset by market cap hitting the $100,000 price tag but does not give a specific timeframe.

“The largest amount of net inflow for Bitcoin since the end of June! Despite the negative news, Bitcoin’s price is stable at $65,000 with consistent institutional inflow. It’s only a matter of time before we see Bitcoin at $100,000.”

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