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  • Coinbase Survey Reveals: Over 60% Singaporeans Own Cryptocurrency – A Deep Dive into Their Investment Trends

    Coinbase Survey Reveals: Over 60% Singaporeans Own Cryptocurrency – A Deep Dive into Their Investment Trends

    Cryptocurrencies have gained significant traction in Singapore, with the majority of its citizens having some level of interaction with the digital asset, as revealed by a recent survey.

    Singaporean Interest in Cryptocurrencies

    A substantial portion of Singaporeans, amounting to 61 percent, are in possession of some form of cryptocurrency, according to recently published survey data. Unsurprisingly, the predominant demographic among these investors are individuals aged 18 to 34 years, who make up 70 percent of the group. Of these, about 68 percent are male.

    Investment Approach: HODL vs Trading

    The study also revealed the investment habits of cryptocurrency owners. The majority, 58 percent, were found to be long-term investors, a strategy commonly referred to as HODL or “hold on for dear life”. On the other hand, 22 percent were classified as occasional traders, with another 20 percent identified as active traders. Remarkably, 42 percent of the survey participants had been investing in cryptocurrencies for over two years.

    The investment allocation was also explored in the study, with 74 percent of respondents stating that 10 percent or less of their portfolios was invested in digital assets. These portfolios typically contained an average of three different types of cryptocurrency. The median portfolio size ranged within S$3,000 ($2,300) to S$5,000.

    Cryptocurrency Price Predictions

    Looking ahead, 25 percent of the respondents anticipate the price of Bitcoin to reach between $100,000 and $150,000 within the next year. Meanwhile, 15 percent predict a rise above $150,000. However, the majority hold a more conservative prediction, expecting the value to fall within the $50,000 to $100,000 bracket. Only 18 percent of the respondents foresee Bitcoin dropping below $50,000. The price of Bitcoin at the time of the survey’s publication was approximately $86,000.

    The data for this report was collected from a pool of 3,513 active retail investors and other interested individuals in Singapore. The survey was conducted between August 15 and August 19 of the current year.

    Questions & Answers

    What percentage of Singaporeans own cryptocurrency?
    According to a recent survey, 61 percent of Singaporeans own some form of cryptocurrency.

    What is the average investment allocation to cryptocurrencies in Singapore?
    The survey found that 74 percent of investors have allocated 10% or less of their portfolios to cryptocurrency holdings.

    What are the future price expectations for Bitcoin among Singaporean investors?
    Within the next year, 25 percent of the respondents expect Bitcoin’s price to reach $100,000 to $150,000, 15 percent predict a rise above $150,000, and the majority forecast a value between $50,000 and $100,000.

  • Deutsche Bank: Bitcoin May Become Key Central Bank Reserve

    Deutsche Bank: Bitcoin May Become Key Central Bank Reserve

    The global inclination towards safe assets is anticipated to stimulate increased demand for both gold and bitcoin as primary reserves for central banks by the year 2030.

    Gold and Bitcoin: Safe Haven Assets

    Gold has a long-standing reputation as a safe haven asset; however, Bitcoin could soon join this precious metal in garnering such recognition and become a crucial reserve within central banks by 2030, based on a report by Deutsche Bank. The report, penned by senior economist Marion Laboure and analyst Camilla Siazon, highlights the similarity in behavior towards gold in the 20th century with current discussions surrounding Bitcoin.

    The Trend of De-Dollarization

    Significant shifts regarding central bank allocations have been occurring, affecting the US dollar’s share of global reserves, which has fallen from 60 percent in 2000 to 41 percent in 2025. Nevertheless, Deutsche Bank remains confident that the US dollar will maintain a key role in global economics.

    The report emphasized that neither Bitcoin nor gold will fully replace the US dollar, referring to digital assets as “complementary” to national currencies within the central bank reserve strategy.

    Questions & Answers

    What are safe haven assets?
    Safe haven assets are investments that are expected to hold or increase in value during market downturns. Examples include gold and, recently, Bitcoin.

    What is the current trend in central bank allocations?
    There is a noticeable shift away from the US dollar, with its share of global reserves falling from 60 percent in 2000 to 41 percent in 2025.

    Will Bitcoin and gold replace the US dollar entirely?
    According to a Deutsche Bank report, neither Bitcoin nor gold will fully supplant the US dollar. Instead, they are seen as “complementary” to national currencies within the central bank reserve strategy.

  • Switzerland’s Shocking $900,000 Bitcoin Bank Loss: What Happened?

    Switzerland’s Shocking $900,000 Bitcoin Bank Loss: What Happened?

    How Switzerland Lost a 900,000 Bitcoin Bank

    Once on track to be Switzerland’s first Bitcoin bank, Xapo, founded in Silicon Valley, has found a new home in Gibraltar after confronting regulatory challenges in the Swiss market. Now, as a fully licensed digital private bank, Xapo serves clients across the globe, with CEO Seamus Rocca shedding light on its journey during an exclusive interview with finews.com. Today, the only remnant of Xapo in Switzerland is a high-security vault nestled deep within the Gotthard Massif.

    Xapo began its journey in 2013, founded by Argentinian entrepreneur Wences Casares as a secure vault service for Bitcoin. Fueled by a vision that Bitcoin could stabilize global economies, Casares established ultra-secure cold storage solutions, including a vault set within a former army fortress high in the Swiss Alps.

    In 2015, the company moved its headquarters to Zug, Switzerland’s Crypto Valley, aiming to secure a banking license and bringing in former UBS and Barclays executive Olga Feldmeier to bolster its efforts.

    Regulatory Hurdles Derail the Swiss Dream

    However, the optimism surrounding a Swiss domicile quickly evaporated as the harsh reality of regulation set in. “Switzerland was promoting itself as crypto-friendly, but the reality was different when dealing with regulators,” remarked Rocca. Swiss authorities required servers to be located within the country and enforced a board structure that Rocca described as “going back in time,” highlighting how outdated these requirements felt amid a tech revolution reliant on global cloud setups.

    Simultaneously, regulatory tensions in the U.S. prompted Xapo to reassess its global aspirations. After selling its institutional custody segment to Coinbase in 2019, Rocca noted, “We decided to simplify our operational, regulatory, legal infrastructure.” This strategic retreat from both Switzerland and the U.S. was aimed at shielding clients from prohibitive regulatory costs. Rocca wryly mused that perhaps they should have kept that custody business given Coinbase’s subsequent fee hikes.

    Finding Solid Ground in Gibraltar

    In 2021, Xapo set its sights on Gibraltar, a jurisdiction that embraced blockchain businesses. Rocca characterized this pivot as establishing Gibraltar as “the new Switzerland—private banking in the realm of crypto.” Unlike its Swiss counterpart, Gibraltar’s regulatory environment allowed Xapo to maintain a global, remote-first structure—a necessity for a fintech-driven bank. “We’re more tech than fin,” Rocca declared, reinforcing the need for a more supportive jurisdiction.

    Today, Xapo boasts a full banking license and a distributed ledger technology license as a virtual asset service provider in Gibraltar. With a workforce of approximately 200 employees, it stands among the largest crypto-focused banks worldwide, paralleling Swiss entities Sygnum and Amina Bank, both granted banking licenses in 2019.

    Retail Focus: A Unique Approach

    What sets Xapo apart, however, is its distinct business strategy. Aimed entirely at retail clients, it operates much like a traditional private bank but with a focus on cryptocurrency holders. New members are charged a $1,000 onboarding fee—a conscious decision to attract serious investors. “If that fee feels expensive, you probably don’t have enough bitcoin,” Rocca quipped, setting a tone for their exclusive clientele.

    Clients enjoy a suite of banking products including deposit accounts, payment cards, savings, loans, and investment options—all incorporated under Bitcoin’s umbrella. Imagine holding a U.S. dollar account with an IBAN for wire transfers, while simultaneously storing bitcoins securely within Xapo’s vault and earning interest. Rocca emphasizes that clients can engage with Bitcoin just as they would with traditional currencies.

    Innovative Offerings: Bridging the Old and New

    Clients of Xapo can use a debit card linked to USD accounts, creating a seamless experience that converts Bitcoin into dollars at the point of sale. Rocca explains, “Every time you use your card on Bitcoin, we buy the Bitcoin off you, sell it into dollars, and settle with the merchant.” So, while merchants may see dollars only, clients are utilizing their Bitcoin balance.

    Looking Ahead: New Financial Products on the Horizon

    Xapo’s Bitcoin savings account allows users to earn interest by depositing BTC, functioning as a fund generating yield, all while providing users with a straightforward interest-bearing experience. The bank also offers bitcoin-backed loans, letting clients leverage their BTC as collateral while ensuring it remains securely housed within its vault. Rocca noted that this approach secures clients’ assets, invoking images of the Swiss mountains where they are stored.

    Excitingly, Xapo is integrating the Bitcoin Lightning Network for expedited transactions, with plans to introduce new features—one being the capability for clients to invest in stock indices using Bitcoin. “We’re going to allow you to buy stocks in the S&P 500 with Bitcoin,” Rocca revealed.

    Exclusive Clientele: A Strategy for Stability

    All of these products come via a user-friendly app that merges the elegance of private banking with the convenience of fintech. Rocca explains their mission of recreating traditional banking functions for Bitcoin users, emphasizing that “we’re not in the mass market; we’re in the premium banking business, pretty much like a Swiss private bank.”

    Assets Under Management: An Impressive Track Record

    Xapo’s assets have reportedly peaked at around 900,000 bitcoins, nearing 90 billion francs at current valuations, before the company chose to reshape its business strategy. Rocca noted an intention to sustain profitability, sharing that the bank experienced its first profit in 2023. Unlike Sygnum and Amina, focusing on institutional clients, Xapo’s gamble lies in appealing to high-net-worth individuals, particularly in regions where local banking systems may inspire distrust.

    The Future: Navigating Regulatory Waters

    The evolution of Xapo illustrates the importance of regulatory arbitrage within the crypto finance sector. Gibraltar’s adaptive regulations stand in stark contrast to the stifling environment Xapo left behind in both Switzerland and the U.S. Rocca observes an emerging trend where the U.S. appears more crypto-friendly as European markets become increasingly cautious, “We never quite seem to strike that balance where the main economic superpowers are all aligned.”

    Revisiting the U.S. Market

    This uneven landscape explains why Xapo still abstains from onboarding U.S. clients but remains open to reconsideration. Rocca has hinted at potential plans for a U.S. presence, gauging the viability of re-entering the market if conditions become favorable.

    Security Meets Innovation: A Unique Proposition

    While Xapo has shifted its headquarters, it retains its Swiss vault—an impenetrable fortress shielded by thick granite and biometric security. By fusing legendary Swiss security with the flexibility of modern fintech, Xapo offers clients both safety and cutting-edge banking functionalities. As the crypto industry experiences another wave of optimism, fueled by rising Bitcoin prices, Rocca remains vigilant, aware that “winter will come again.”

    Forecasting the Future: Cycles of Change

    “If you’re in the Bitcoin space, we’re riding high,” Rocca reflects. However, acknowledging the cyclical nature of Bitcoin, he speculates that the current bullish market might carry through to 2025 before potentially facing a downturn. The eventual “crypto winter” may arrive, and his insight encourages investors to stay informed. In the meantime, Xapo continues to ride this wave, navigating the ever-shifting sands of the crypto landscape.

    Questions & Answers

    What prompted Xapo to move its operations from Switzerland to Gibraltar?
    Xapo faced stringent regulatory requirements in Switzerland that stifled its growth and operational flexibility, whereas Gibraltar offered a more accommodating environment.

    How does Xapo differentiate itself in the competitive crypto banking market?
    Xapo focuses entirely on retail clients, providing traditional private banking services tailored for Bitcoin holders, unlike many peers targeting institutional clients.

    What future plans does Xapo have regarding its operations in the U.S.?
    Xapo is currently assessing the possibility of re-entering the U.S. market, evaluating regulatory conditions to determine if it makes sense to onboard American clients again.

  • Bitcoin Suisse Reports Record Revenue Surge, Multi-Million Profit, and Bold International Growth Plans

    Bitcoin Suisse Reports Record Revenue Surge, Multi-Million Profit, and Bold International Growth Plans

    Bitcoin Suisse Turns Profit and Eyes Global Markets

    Bitcoin Suisse is on the rebound, marking a significant turnaround in its financial fortunes and gearing up for international expansion. At its recent Annual General Meeting held in late June, the Zug-based crypto broker proudly announced a remarkable net profit of 16 million francs for the fiscal year 2024. This recovery comes on the heels of a 13 million franc loss in 2023, with revenues soaring by 56 percent compared to the previous year.

    Over the last year, Bitcoin Suisse has intensified its efforts to solidify its status as a leader in the global crypto financial services sector. The firm has embraced technological advancements, accelerating automation and optimizing workflows to enhance operational efficiency. Additionally, they have integrated advanced data analytics tools to elevate the client experience. Notably, Bitcoin Suisse became the first Swiss crypto service provider to support the Babylon Bitcoin Staking protocol, expanding Bitcoin’s staking capabilities further. Who knew staking could be hip?

    Global Aspirations: Middle East Entry

    2024 has been a pivotal year for Bitcoin Suisse as it embarks on international expansion. The company established a new subsidiary, BTCS (Middle East) Ltd., which received in-principle approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) this May. This crucial step sets the stage for obtaining full licensing, allowing Bitcoin Suisse to diversify its offerings and provide regulated crypto financial services in the Middle East. These services will include trading virtual assets, dealing in crypto securities and derivatives, along with local custody solutions.

    “Our strategic focus on international growth and client-centric innovation is stronger than ever,” asserted CEO and co-founder Andrej Majcen during the AGM, displaying a renewed confidence in the company’s direction.

    Boardroom Shake-Up Introduces Fresh Perspectives

    In addition to its financial successes, Bitcoin Suisse also announced a shift in its board of directors. Giles Keating has stepped down, making way for Guenther Dobrauz-Saldapenna, who brings a wealth of experience from his leadership role in PwC’s global Crypto Practice. Dobrauz-Saldapenna is also a co-founder and partner at Exelixis Capital, a Swiss investment firm specializing in venture capital, and leads the Dobrauz-Saldapenna family office.

    The current board now consists of:

    Marco Menotti, Chairman of the Board; Luzius Meisser; Gabriela Hauser-Spühler; Philipp Rösler; Ani Banerjee; and newly appointed Guenther Dobrauz-Saldapenna.

    Questions & Answers

    What financial recovery did Bitcoin Suisse achieve in 2024?
    Bitcoin Suisse reported a net profit of 16 million francs for the year 2024, rebounding from a loss of 13 million francs in 2023.

    What steps has Bitcoin Suisse taken to expand internationally?
    The company established a subsidiary in the Middle East, BTCS (Middle East) Ltd., which has received in-principle approval from the FSRA of the Abu Dhabi Global Market, paving the way for offering regulated crypto financial services.

    Who joined Bitcoin Suisse’s board of directors recently?
    Guenther Dobrauz-Saldapenna joined the board following the departure of Giles Keating, bringing extensive expertise in crypto and venture capital to the organization.

  • Bitcoin Price Reaches Record High: Discover The 3 Key Factors!

    Bitcoin Price Reaches Record High: Discover The 3 Key Factors!

    Today the Bitcoin course reached a spectacular milestone: a new all-time high of $109.760! This is not just any number, but a pivotal moment for the world’s largest cryptocurrency, which is increasingly being embraced by both institutional and traditional financial institutions. What is driving this impressive rise? Let’s take a look at the underlying factors.

    Why did the Bitcoin price rise so much?

    The recent rise in Bitcoin price is due to a combination of factors that are boosting confidence in Bitcoin. Let’s take a look at some of these key elements:

    Showing increasing institutional acceptance

    Bitcoin’s acceptance by traditional financial institutions is growing day by day. Forward-thinking names like JPMorgan are opening the door to Bitcoin investments. In addition, we are seeing Bitcoin increasingly being included in global reserves. This strengthens Bitcoin’s position as a reliable part of the modern financial system. Who would have thought that the digital currency would come this far?

    Bitcoin ETF Inflows

    Institutional investors continue to flock to Bitcoin ETFs despite the market’s volatility. These significant inflows are a clear sign of growing confidence in the long-term stability of digital assets. Moreover, ETFs make it easier for large investors to gain exposure to Bitcoin. Who wouldn’t want to benefit from this dynamic?

    Political Support Through the GENIUS Act

    Another major catalyst for positive market sentiment is the recent vote in the U.S. Senate on the GENIUS Act. This bill, which promotes innovation in digital technologies and crypto supports, received 69 votes in favor and 31 against. The ruling was greeted with enthusiasm by investors, who see it as a sign that Washington is finally taking constructive steps toward clear crypto legislation. This has further fueled optimism around the future role of Bitcoin and other digital assets in the financial sector.

    “Who knows what the future holds, but one thing is for sure: the opportunities in crypto are limitless!” With the current developments, now is the time to explore the possibilities of Bitcoin and other digital assets. The dynamics in the market are changing at a rapid pace, and those who seize the opportunity to be part of this revolution may well reap the rewards of their efforts. Are you already on the sidelines, or are you ready to take the plunge?

    Frequently Asked Questions

    What are the main reasons for the recent rise in Bitcoin price?
    The rise is due to increasing institutional adoption, massive inflows into Bitcoin ETFs, and political support through the GENIUS Act, which paves the way for positive regulation.

    What are ETFs and Why are they Important for Bitcoin?
    ETFs are investment funds that track the price of Bitcoin. They are important because they make it easier for institutional investors to invest in Bitcoin, which leads to more stability and confidence in the market.

    What does the GENIUS Act mean for the future of crypto?
    The GENIUS Act could lead to clear regulations for crypto, increasing trust in the market and fostering innovation in digital technologies. This could form the basis for further integration of crypto into the financial system.

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  • Bitcoin Pizza Day: Could This Anniversary Spark a New All-Time High?

    Bitcoin Pizza Day: Could This Anniversary Spark a New All-Time High?

    May 22, 2010, marked a milestone that would ultimately change the financial landscape: American software developer Laszlo Hanyecz made the first real-world purchase using Bitcoin, spending a staggering 10,000 of the digital currency on two large pizzas. While this might seem like just a fun anecdote, the implications were profound. Those pizzas, delivered by a student from Papa John’s, ignited a movement that has since seen Bitcoin soar astronomically in value.

    Fast forward 15 years, and those 10,000 Bitcoins, once valued at a mere $41, are now worth about $870 million. Talk about a feast gone from humble to legendary! With the current price of Bitcoin hovering above the $100,000 mark, many are left wondering whether a new all-time high is on the horizon.

    Soaring High and No End in Sight

    For Rino Borini, a Bitcoin expert based in Zurich, there’s every reason to believe that major price surges are imminent. The co-founder and CEO of House of Sathosi has set a goal of $150,000 for this year. However, he cautions that the ride will be anything but smooth, likening it to a rollercoaster: “I can easily envision a new record between $110,000 and $115,000 shortly. Yet, brace yourself for some significant price dips along the way,” he reveals.

    Bitcoin Like a Swiss Army Knife

    According to Bitcoin Suisse, a notable player in the cryptocurrency realm, current market dynamics are working in Bitcoin’s favor. Falling inflation rates, increasing global liquidity, and an influx of institutional investments are propelling its popularity. “Bitcoin is increasingly versatile, much like a Swiss army knife—it can adapt both to risk-on and risk-off scenarios,” they state.

    Structurally, a noteworthy shift is taking place in Bitcoin ownership. Institutional investors, including governments, corporations, and exchange-traded funds (ETFs), now hold about 14% of all Bitcoins. Notably, publicly traded companies have amassed over 180,000 Bitcoins this year alone, further cementing Bitcoin’s place in mainstream finance.

    Structural Shift towards Institutional Investors

    Bitcoin Suisse underscores the growing tension between supply and demand as a critical factor in this evolution. They suggest that these structural changes may not only reduce volatility but also accelerate Bitcoin’s journey toward maturation. With such optimism, Bitcoin Suisse even hints at a thrilling price target of $180,000 by year’s end.

    Could we see prices take off on an exhilarating upward trajectory? If history shows us anything, it’s that this digital currency tends to keep us on our toes!

    Questions & Answers

    **What was the significance of Laszlo Hanyecz’s pizza purchase?**
    It marked the first known real-world transaction using Bitcoin, showcasing its potential as a currency.

    What are Bitcoin’s current price dynamics?
    Bitcoin is trading above $100,000, with experts speculating about the possibility of hitting new all-time highs soon.

    What structural changes are occurring in Bitcoin ownership?
    There is a noticeable shift toward institutional investors holding a larger share of Bitcoin, indicating growing acceptance and integration of the cryptocurrency in mainstream finance.

  • Bitcoin Broker Teams Up with Sygnum to Boost Retail Sales

    Bitcoin Broker Teams Up with Sygnum to Boost Retail Sales

    Innovative Offering Provides New Liquidity Options for Investors

    Bitcoin broker Relai has announced a new collaboration with Sygnum Bank to launch Bitcoin-backed Lombard loans. This initiative aims to offer private, qualified investors the ability to leverage their Bitcoin holdings for short- to medium-term liquidity without liquidating their assets.

    Unlocking Financial Flexibility for Wealthy Clients

    The new service allows clients to access liquidity in euros or Swiss francs, enabling them to manage their financial needs while maintaining their Bitcoin investments. This offering positions Relai as the first broker in Europe to facilitate Bitcoin-backed loans, marking a significant development in the intersection of cryptocurrency and traditional finance.

    The startup, founded in 2019, emphasized that the newly introduced loans provide high-net-worth clients and small to medium-sized enterprises (SMEs) with enhanced financial flexibility. While specific loan conditions remain undisclosed, the initiative is designed to help clients capitalize on potential price increases in Bitcoin while avoiding potential tax implications from selling their assets.

    A Milestone for Relai’s Growth

    Julian Liniger, CEO and co-founder of Relai, hailed the partnership with Sygnum Bank as a watershed moment for the young company. “Bitcoin-backed loans are a groundbreaking innovation for our high-net-worth clients, as they give them access to cash without having to sell their Bitcoin,” he stated.

    This pioneering offering not only reflects the growing consumer demand for cryptocurrency-based financial products but also underscores the expanding role of digital assets in mainstream finance.

    As the retail sector continues to evolve, Relai’s foray into Bitcoin-backed loans may set a new standard for financial services, particularly for consumers seeking innovative ways to unlock the value of their digital assets. The potential impact on both high-net-worth individuals and the broader retail market cannot be understated, paving the way for more advancements in the world of cryptocurrency and traditional banking.

  • Bitcoin broker Relai has launched a new offering in collaboration with Sygnum Bank.

    Bitcoin broker Relai has launched a new offering in collaboration with Sygnum Bank.

    Those looking to access short- to medium-term liquidity from their Bitcoin holdings can now do so through Lombard loans.

    Relai is introducing the possibility for private, qualified investors to take out Bitcoin-backed loans. The aim is to provide clients with liquidity in euros or Swiss francs without having to sell their Bitcoin holdings.

    According to a statement from the startup, founded in 2019, the offering provides wealthy private clients and SME customers with a new level of financial flexibility. With this product, Relai becomes the first broker in Europe to enable Bitcoin-backed loans. No details regarding the loan conditions were disclosed.

    Milestone For A Startup

    This setup allows clients to continue betting on a potential upward trend in Bitcoin’s value or to avoid triggering taxable events, the company adds.

    This partnership with Sygnum Bank is a major milestone for us as a startup, said Julian Liniger, CEO and co-founder of Relai. Bitcoin-backed loans are a groundbreaking innovation for our high-net-worth clie

  • Arizona Legislature pushes for a state bitcoin reserve

    Arizona Legislature pushes for a state bitcoin reserve

    The Arizona Legislature approved a pair of bills Monday that could pave the way to create the country’s first state Bitcoin reserve.

    The fate of the bills, which mimic President Donald Trump’s moves on the national level, is now in the hands of Democratic Gov. Katie Hobbs. 

    The pair of bills, both led by Republicans and passed largely along partisan lines through the House and the Senate, would allow the state to invest up to 10% of its public funds in digital assets like bitcoin. According to a 2023 audit, Arizona holds more than $30 billion in state-managed assets.  

    If Hobbs signs them into law, Arizona will become the first state to have its own cryptocurrency reserve. If Hobbs uses her veto power, the bills are dead. 

    A spokesperson declined to comment on how she plans to proceed. 

    Republican state Sen. Wendy Rogers, who sponsored one of the pieces of legislation, said it’s in Hobbs’ best interest to sign the legislation. “Crypto and bitcoin have a huge following nationwide and in Arizona. They are wildly popular with the youth and independents,” Rogers said, adding: “I certainly hope she signs it, because she can take credit and it will make her look good.”

    Trump announced a “strategic crypto reserve” in March, but the announcement bothered some cryptocurrency supporters after he posted on his social media platform that the reserve will include lesser-known cryptocurrencies besides bitcoin, which are more prone to volatility. 

    Barrett Marson, a Republican political consultant based in Phoenix, said GOP members of the Arizona Legislature are taking their cues from Trump. “Arizona Republicans are nothing if not attuned to what Trump is doing and always finding a way to replicate that here in the state,” Marson said. 

    Marson, who said he isn’t sure whether Hobbs will sign the bills or veto them, said he believes crypto’s mercurial nature is likely to be a consideration. “Gov. Hobbs will undoubtedly consider how volatile bitcoin can be when she decides whether to sign or veto this effort,” he said. 

    But Rogers isn’t concerned. “I do not have any concerns about the volatility of bitcoin simply because if you zoom out on all of the charts, it always increases in value,” she said, before she argued that bitcoin is a “hedge against inflation.” 

    “I can’t speak for the other cryptocurrencies, as those need to be analyzed on an individual basis,” she said.

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  • Blackrock Launches ‘Swiss’ Bitcoin ETP in Europe

    Blackrock Launches ‘Swiss’ Bitcoin ETP in Europe

    On Tuesday, Blackrock launched the iShares Bitcoin ETP, providing European investors with access to Bitcoin without the need to directly trade or hold the cryptocurrency.

    The securities are backed by Bitcoin held by Coinbase, which is also responsible for the custody solution and the process controls safeguarding the private keys. For the iShares Bitcoin ETP, the Bitcoins are transferred daily from the trading wallet to segregated offline wallets («cold storage»).

    There’s a lot of Switzerland in the iShares Bitcoin ETP. BlackRock Switzerland played a key role in its development, said Dirk Klee, Country Head for Switzerland.

    The iShares Bitcoin ETP carries a total expense ratio (TER) of 25 basis points, with a temporary reduction to 15 basis points in effect through the end of the year. The underlying Swiss special purpose vehicle (SPV) is exempt from Swiss stamp duty on both purchases and sales.

    Blackrock took its time before launching the iShares Bitcoin ETP. Ultimately, it was the evolution of the cryptocurrency space in recent years—combined with growing client demand—that prompted the firm to move forward.

    «We believe ETPs can play a key role in building a bridge between crypto and traditional finance, due to their efficiency and ease of use,» said Klee. For investors with appropriate governance frameworks and sufficient risk tolerance, a 1% to 2% allocation to Bitcoin in multi-asset portfolios is justifiable, he added.

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  • Warning Signals from the Crypto Valley

    Warning Signals from the Crypto Valley

    As a Crypto-Nation, Switzerland has made headlines for many years. However, the tide may be turning now.

    On January 20, 2025, Donald Trump will move into the White House for the second term. By then, the Crypto Valley will be closely monitoring the US President’s policies. Trump’s plans could cause a major upheaval in Switzerland.

    In addition to introducing massive tariffs and tightening immigration policies, Trump has also announced his intention to overhaul the previously restrictive policy on Bitcoin and other cryptocurrencies, aiming to implement crypto-friendly regulations.

    Among other things, Trump wants to attract mining companies: Bitcoin made in the USA. This will involve massively expanding the energy-producing economy to ensure that enough cheap energy is available at all times.

    At the same time, Trump aims to promote stablecoins and bitcoins and establish a strategic national Bitcoin reserve.

    Trump’s promises have sparked a surge in cryptocurrency prices in recent months. In December, Bitcoin’s price briefly surpassed the magical threshold of $100,000.

    If the US President delivers on his promises, it would be a true game-changer. This would not go unnoticed in Crypto Valley», says a senior manager at a crypto company based in Zug. However, he does not want to be named publicly, as the matter is too sensitive.

    Cryptocurrencies and Switzerland have long been a success story. As early as 2013, Switzerland set up attractive conditions for the industry, ahead of many other nations. With over 1,000 blockchain companies, Switzerland became an international hub, with the canton of Zug at the forefront. The region came to be known as Crypto Valley.

    But the honeymoon is over. A sense of unease is spreading within the industry. Bitcoin pioneer Niklas Nikolajsen, a Danish national who moved to Switzerland in 2011 and now lives in Zug, recently told the Neue Zürcher Zeitung (NZZ) that Switzerland is no longer an attractive location for crypto businesses.

    Once, even a Federal Councilor visited the offices of crypto companies. In this politically favorable environment, the Financial Market Supervisory Authority (FINMA) even granted two crypto companies a banking license. That would be unthinkable today. When the political pressure faded, FINMA lost its nerve», Nikolajsen said.

    One point of contention is the treatment of stablecoins, which are crypto-assets pegged to a currency like the dollar, euro, or Swiss franc. FINMA now requires that all parties involved in stablecoin transactions be identified and has set concrete requirements for stablecoin issuers and the banks that provide backup guarantees. This has caused an outcry within crypto companies.

    Along with the developments in the US, this unease could quickly become toxic. If conditions for the crypto industry are relaxed under Trump while tightening in Switzerland, many companies are likely to leave the country. «No one is planning to move yet, but if Switzerland doesn’t take action soon, the decision will be made quickly», several crypto managers told finews.ch.

    One such move could be for the Swiss National Bank to be mandated to invest in Bitcoin, as proposed by a popular initiative. «If Switzerland only offers what everyone else does, we’re out of the picture. The Swiss market simply doesn’t offer enough», said one manager, putting it bluntly.

  • Vietnamese investors turn to Bitcoin as it crosses psychological $100,000 mark

    Vietnamese investors turn to Bitcoin as it crosses psychological $100,000 mark

    As Bitcoin hovers around the US$100,000 mark, many investors are embracing cryptocurrency to diversify their portfolios.

    Lam Vu, inspired by a friend’s success in Bitcoin investments, recently sought his advice. The friend had bought Bitcoin at US$36,000 in June 2021, sold at over US$60,000 four months later to earn a profit of VND33 million (US$1,299). Vu was encouraged to act before Bitcoin’s “big wave” of growth. However, his friend suggested waiting for a potential correction to below US$95,000.

    Ngoc Anh is also exploring Bitcoin. An investor for the past year she is diversifying her portfolio and sees cryptocurrency as a promising option. “I believe Bitcoin will soon become a primary and widely accepted global currency,” she says. She plans to adopt a systematic investment plan (SIP) strategy, investing consistently each month, to average out costs in the long term.

    She says this approach, which she has applied to mutual fund investments over the past two years, will suit her by reducing the stress caused by Bitcoin’s price volatility. She believes Bitcoin will recover from any dips and steadily increase in value over time.

    Bitcoin’s value has surged by 130% this year to around US$100,000, with a market capitalization of US$2 trillion. It is now the seventh largest global asset by market cap, trailing gold and tech giants Apple, Nvidia, Microsoft, Amazon, and Alphabet.

    In an interview with VnExpress, Le Sy Nguyen, Vietnam country manager at the cryptocurrency exchange Bitget, says Bitcoin’s milestone has boosted trading volumes for both Bitcoin and altcoins on the world’s third largest derivatives exchange.

    Nguyen advises investors to proceed cautiously and do thorough research, citing risks such as market volatility, regulatory uncertainty and management challenges. He adds that an SIP is a practical way to accumulate Bitcoin while mitigating volatility. He also advises new investors to focus on consistent investments, avoid emotional trading and regularly monitor market developments.

    Global asset manager BlackRock Investment Institute recommends allocating 1-2% of portfolios to Bitcoin, likening its risk profile to that of the “Magnificent Seven,” which includes major tech stocks like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. However, BlackRock warns that allocations exceeding 2% significantly increase risk, noting Bitcoin’s history of steep declines, including losses of 70-80% since its inception in 2009.

    Many investors have faced severe losses during Bitcoin’s downturns. Trung Tin, initially a casual cryptocurrency investor during the pandemic, became addicted to trading as his profits surged. At his peak, he invested over VND1 billion, depleting his savings and borrowing from friends. The November 2021 market crash wiped out his funds.

    Refusing to accept the reality of his losses, the HCMC-based startup owner borrowed more from family, friends, colleagues, and business partners in a desperate attempt to recover his investments. “I dug my own grave when I borrowed money to trade derivatives with 125x leverage,” he laments. “Within two weeks I had to sell my car and land to repay debts. It was a horrifying experience, especially as it happened just weeks before Lunar New Year.” He says to this day he feels anxious whenever cryptocurrency is mentioned.

    According to The Washington Post, therapist Aaron Sternlicht observes that crypto trading can be more addictive than gambling, largely because of its 24/7 market access. While cryptocurrency addiction is not officially recognized as a mental health disorder, researchers at Rutgers University in New Jersey have noted a rise in addicted traders. Excessive trading, driven by the prospect of massive returns, often mirrors gambling behavior.

    A 2024 survey by Coin68 platform involving over 2,700 Vietnamese found that nearly 44% reported losses in cryptocurrency investments. Of the 56% making a profit, those avoiding derivatives and focusing on long-term strategies earned 10% more on average than their counterparts.

    The derivatives market remains a source of significant losses. This trading method allows investors to speculate on cryptocurrency price movements without owning the asset, and incorrect bets often lead to a wipeout. During the recent Bitcoin price peaks hundreds of millions of dollars were lost. Experts strongly advise new investors to avoid derivatives trading.

    Cryptocurrencies remain unregulated in Vietnam, which experts say hampers sustainable growth and transparency. The lack of a clear legal framework, and the resultant absence of adequate protections unlike in traditional financial markets, exposes investors to risks such as fraud and market instability, complicating the development of this asset class.

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  • Bitcoin tops $100,000 on optimism over Trump crypto plans

    Bitcoin tops $100,000 on optimism over Trump crypto plans

    Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

    Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

    It last traded at $100,027 as of 9:40 a.m. Thursday, up 2.2% on the previous session, after earlier rising as high as $100,277.

    “We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of U.S. crypto firm Galaxy Digital.

    “This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.”

    More than 16 years after its creation, bitcoin appears on the cusp of mainstream acceptance, despite naysayers and a history of controversies.

    “Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics,” said Justin D’Anethan, a Hong Kong-based independent crypto analyst.

    “The figure not that long ago dismissed as fantasy, stands as a reality.”

    Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.

    Crypto investors see an end to increased scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler, who said last week he would step down in January when Trump takes office.

    On Wednesday, Trump said he would nominate Paul Atkins to run the Securities and Exchange Commission. Atkins, a former SEC commissioner, has been involved in crypto policy as co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.

    A slew of crypto companies including Ripple, Kraken and Circle are jostling for a seat on Trump’s promised crypto advisory council, seeking a say in his planned overhaul of U.S. policy, according to several digital asset industry executives.

    Trump’s businesses may also have a stake in the sector. He unveiled a new crypto business, World Liberty Financial, in September. Although details about the business have been scarce, investors have taken his personal interest in the sector as a bullish signal.

    Trump’s social media company is in advanced talks to buy crypto trading firm Bakkt, the Financial Times reported last week, citing two people with knowledge of the talks.

    Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, according to the FT report.

    Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies.

    Bitcoin’s rebound from a slide below $16,000 in late 2022 has been rapid, boosted by the approval of U.S.-listed bitcoin exchange-traded funds in January this year.

    The Securities and Exchange Commission had long attempted to block ETFs from investing in bitcoin, citing investor protection concerns, but the products have allowed more investors, including institutional investors, to gain exposure to bitcoin.

    More than $4 billion has streamed into U.S.-listed bitcoin exchange-traded funds since the election.

    “We were trading basically sideways for about seven months, then immediately after November 5, U.S. investors resumed buying hand-over-fist,” said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund.

    There was a strong debut for options on BlackRock’s ETF in November with call options – bets on the price going up – substantially more popular than puts. McCann calculated the put to call ratio at about 22 to one.

    Crypto-related stocks have soared along with the bitcoin price, with shares in bitcoin miner MARA Holdings up around 65% in November.

    Two years ago, the industry was wracked by scandal with the collapse of the FTX crypto exchange and the jailing of its founder Sam Bankman-Fried.

    The cryptocurrency industry also has been criticized for its massive energy usage, while crypto crime remains a concern, too.

    Market participants are keeping a close eye on what happens now that bitcoin has broken above $100,000, with investors and speculators possibly looking to pocket some of their recent gains.

    “But once we flush out those sell orders, this could go higher still, and very rapidly,” said Steven McClurg, founder of Canary Capital, a digital asset.

  • Bitcoin Disciples on the Road to Freedom

    Bitcoin Disciples on the Road to Freedom

    Julian Assange is a free man after 12 years of embassy asylum and prison. To some, he is a hero and martyr fighting for democracy and press freedom; to others, he is a dangerous traitor. His story, and that of the Wikileaks platform, is closely intertwined with Bitcoin.

    Wikileaks founder Julian Assange has pleaded guilty to one charge in a U.S. court on the island of Saipan in the Northern Mariana Islands, a U.S. overseas territory. Now he is a free man and has since arrived in his homeland of Australia.

    The story of Assange and Wikileaks is closely linked to the cryptocurrency Bitcoin. In 2010, Assange released a flood of military documents through the platform, which had been provided to him by analyst Bradley Edward Manning (now Chelsea Manning). These documents revealed numerous human rights violations by the U.S. Army in Iraq and Afghanistan, sparking a storm of sanctions, including financial ones.

    By 2013, all of Assange’s accounts and credit cards were frozen. The rescue came in the form of Bitcoin. Only through the cryptocurrency was the whistleblower platform able to continue operating.

    Along with the media storm that ensued, Bitcoin was reported on for the first time outside of geek media. Just months later, the figure of Satoshi Nakamoto, who is considered the inventor of the cryptocurrency, disappeared without a trace.

    To this day, it is not definitively clear who or how many people are behind the name. «It would have been nice to get this attention in another context,» reads one of Nakamoto’s last posts. WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us.

    Assange was also an early fan of Bitcoin. He saw a connection between the artificial currency and his ideology that civil society must organize itself outside and apart from existing structures. Bitcoin is a revolution, he wrote in 2011. Cryptocurrency is the «true Occupy Wall Street» and one of the most interesting developments on the internet.

    From then on, Wikileaks preferred to collect donations in Bitcoin. These played a significant role in the years-long tug-of-war over Assange’s fate. According to a report , Wikileaks benefited from the strong increase in Bitcoin value in recent years.

    For his chartered flight journey, which will take him from London via a stopover in Bangkok and Saipan to his homeland of Australia, Assange will owe the Australian government 520,000 dollars, his wife Stella Assange said on social media. A crowdfunding platform has been set up for that goal.

  • Bitpanda Enters Into Partnership With Deutsche Bank

    Bitpanda Enters Into Partnership With Deutsche Bank

    Deutsche Bank will provide Bitpanda customers with real-time payment solutions for incoming and outgoing transactions. This partnership between a Tier 1 bank and an emerging crypto company marks a significant step for the entire digital asset industry.

    As part of the collaboration, Deutsche Bank will provide Bitpanda with access to local IBANs in Germany. Customers will therefore be able to deposit or withdraw fiat currencies at Bitpanda, with transactions being processed via Deutsche Bank.

    According to a press release on Tuesday, this API-based account solution is expected to streamline and enhance the experience for users and ensure confidence, speed, and efficiency.

    Bitpanda is a regulated multi-asset broker platform offering more than 2,800 selected virtual assets and indices as well as stocks, ETFs and commodities to retail investors.

    With over 4 million users and counting, the Austrian-fintech envisions the further cooperation with traditional financial service providers as a strategic and pivotal goal to «shape the future of the financial service industry.»

    Meanwhile, Deutsche Bank can thereby venture into entirely new business areas.

    Bringing the best parts of the industry together is where we can create real value for people, says the deputy Bitpanda CEO, Lukas Enzersdorfer-Konrad. «Deutsche Bank’s commitment to working with new and innovative players in the financial industry continues to make our partnership possible.

    With Bitpanda, a recognised and regulated fintech provider, we are confident to help build a secure and trusted environment for users in this innovative field of virtual asset investing, added Kilian Thalhammer, Global Head of Merchant Solutions, Deutsche Bank.

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