Bloomberg

The post Less Than 10% of Stablecoin Transactions Form Real Users: Bloomberg Report appeared first on Coinpedia Fintech News As per a Bloomberg report, analysis by Visa and Alium labs finds that more than 90% of stablecoin transaction volumes do not come from real users suggesting such from of crypto tokens being used as payment options might be far away. Out of $2.2 trillion in total transactions in April, only $149 billion were from “organic payments activity” where the analysis…

The post Mainland Chinese Investors Will Likely Miss Out On Hong Kong ETFs; Bloomberg Analyst Predicts Only $1 Billion AUM appeared first on Coinpedia Fintech News Hong Kong announced the launch of its first exchange-traded funds (ETFs) that will track the performance of Bitcoin and Ethereum. However, these products are unlikely to be available to investors from mainland China due to strict regulation. According to a prominent Bloomberg analyst, Hong Kong ETFs will only attract $1 billion in AUM in…

Hong Kong regulators recently approved spot Bitcoin and Ethereum exchange-traded fund applications, but Bloomberg ETF analyst Eric Balchunas predicts that the local ETF market may not perform as well as the US due to the current lack of big players and the possibility of high fees. According to Balchunas, the Hong Kong Bitcoin and Ether ETF market may generate $500 million in inflows, which is small compared to the over $15 billion from BlackRock’s spot Bitcoin ETF product alone in…

U.S. regulators will likely reject Ethereum (ETH) spot ETFs – and crypto won’t put up much of a legal fight for it, according to Bloomberg ETF analyst Eric Balchunas. The analyst’s latest take is a discouraging sign for Ethereum bulls and stands in stark contrast to his former optimism about Bitcoin spot ETFs preceding their January approval. Are Ethereum ETFs Worth Fighting For? In a Wednesday tweet, Balchunas addressed a common theory that the crypto industry will sue the Securities…

Mike McGlone – Senior Commodity Strategist at Bloomberg Intelligence – recently suggested that Bitcoin is on its way to becoming “global collateral.” He called the primary cryptocurrency a possible “leading indicator” for risk assets, which may be at risk given the crypto market’s latest decline.  Signs of Maturity? As McGlone tweeted on Wednesday, most risk assets are struggling in the second half of 2022. Their headwinds primarily stem from the Federal Reserve's “sledgehammer” of rising interest rates, which “may form…

Bloomberg's subsidiary Modern Media is facing a lawsuit from Binance CEO Changpeng Zhao. Zhao’s suit addresses a defamatory cover title published in late June by the media giant. At the time, the post read “Changpeng Zhao’s Ponzi Scheme”, before it was later changed. CZ Slams Modern Media With Lawsuit The Hong Kong Economic Times initially confirmed the news of the lawsuit on Monday. According to reports, CZ filed his case against Modern Media in the Hong Kong High Court of…

The Russian invasion of Ukraine enters its second week, and the financial markets worldwide are still reeling from the shock. Meanwhile, the crypto market has seen immense volatility, with most assets moving from green to red and back again. According to an expert analyst from Bloomberg, it's the ideal time to invest in Bitcoin. Bitcoin’s Rollercoaster Ride Last week, when news of war in Ukraine broke out, all financial markets plummeted. The crypto market did not make an exception, and…

The oldest and the most significant crypto, Bitcoin, rose for the fifth day in a row - the longest streak since September. The crypto markets are edging up as investors re-embrace risk assets. As a result, tech stocks are up, and so are the major cryptocurrencies. So much so that the total crypto market cap reclaimed $2 trillion in valuation. Bitcoin gained as much as 5.4% in valuation, reaching $43,600. Most other significant cryptos were up as well, as crypto…

Bloomberg analyst cautioned investors not to bet against the Fed, as he sees markets dropping 10-20%. However, he also sees a silver lining for Bitcoin, but not for altcoins. On Tuesday, Mike McGlone, the Senior Commodity Strategist for Bloomberg, appeared on the Wolf of All Streets podcast. There, he cautioned both stock and crypto investors against risk bets. Namely, he believes that the Federal Reserve is serious about raising interest rates. Unfortunately, that's a move that will likely hurt risk…