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A survey from the Financial Industry Regulatory Authority (FINRA) suggests that new crypto investors tended to be swayed by suggestions from friends, compared to equities or bond investors. Influence from friends and the fear of missing out (FOMO) were some of the reasons investors bought crypto for the first time in 2022, according to a survey by a United States financial regulator. Published by the United States Financial Industry Regulatory Authority (FINRA) Investor Education Foundation in late April, the Survey found that a large portion (31%) of new crypto currency investor s cited "friend suggestion" as the primary reason for their foray into crypto .  This is compared to only 8% for first-time equities or bond investors, potentially indicating that there is "a social element to cryptocurrency investing not evident in equities or bond investing," according to FINRA. However, the ability to “start with small amounts” was the second biggest reason for making a

Hong Kong Hammers Down On Stablecoins The Hong Kong Monetary Authority is of the opinion that the industry may responsibly and safely explore the possibilities of Decentralized Finance (DeFi) if appropriate guardrails are in place. As a consequence of this, the regulatory changes will place a greater emphasis on the legalization of stablecoins and will increase the collaborative ecosystem reaction to the threats of money laundering and terrorist funding. advertisement While speaking about the broader crypto regulations the country seeks to bring forward in 2023, the Hong Kong Monetary Authority was quoted as saying: As a priority, we will start with regulating stablecoins that purport to reference to one or more fiat currencies, given the higher and more imminent monetary and financial stability risks that they may pose. “We believe that with the right guardrails in place, the industry can explore the potential of digital finance in a safe and healthy manner

Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue Efforts Market observers have been keeping a close eye on First Republic Bank since the collapse of three major banks in March. The bank disclosed earlier this month that it experienced $100 billion in withdrawals by customers in March, following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank. Additionally, 11 banks injected $30 billion into First Republic Bank to strengthen its reserves. FRC stock chart by TradingView On Friday, Reuters reported that the U.S. government is coordinating with the bank’s advisers to possibly save First Republic Bank, as talks led by the advisers have

According to data from Santiment, the market intelligence platform with on-chain social metrics, there is a declining trend in social volume across cryptocurrencies. Recent data shows most cryptocurrencies on the platform returning negative weekly social metrics with only a few standouts. Social volumes across #crypto continue declining as a #bearish & complacent trader sentiment is here for the time being. Through the volatility, #Bitcoin's price is still +4% in the past week, and standouts like #Render (+22%) and #Radix (+16%) have given pump opportunities. pic.twitter.com/GtLFgQwr1T — Santiment (@santimentfeed) April 28, 2023 Bitcoin, Radix, and Render constitute the few cryptocurrencies whose social metrics remained positive in the past seven days. Despite the volatility of the crypto market in the past week, Santiment data showed Bitcoin’s price maintained a +4% gain, Radix +16%, and Render +22%. However, the overall return in the past week for several other

What is the Bitcoin White paper and why does it matter? Today we cover what it is. Imagine a world where financial transactions are secure, fast, and free from intermediaries. A world where you have complete control over your money and can send it to anyone, anywhere, at any time It sounds like a utopian dream, right? Well, guess what? This dream has already become a reality thanks to a revolutionary invention known as Bitcoin. Let’s take a step back and understand the foundation of this digital revolution: the Bitcoin whitepaper. In October 2008, a mysterious figure named Satoshi Nakamoto released a nine-page document titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This document, now commonly known as the Bitcoin Whitepaper, laid the groundwork for creating the first-ever cryptocurrency. To this day, the true identity of Satoshi Nakamoto remains a mystery. However, the revolutionary ideas presented in the whitepaper have profoundly impacted the

Also Read: Hong Kong Regulator To Release Crypto Exchange Rules; Will US SEC Follow? advertisement Cardano Witnesses Flash Surge Cardano Price witnessed a sudden spike flashing bullish sentiments amid the recent market dump. ADA trading at an average price of $0.382 registered a massive surge which led ADA price to trade at $0.411. Cardano price spiked by more than 3% in the last 24 hours. ADA is trading at an average price of $0.407, at the press time. The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT. Signup Ad As per the data, its 24 hour trading volume jumped by a whopping 106% to stand at $533 million. However, Cardano has turned out to be the biggest gainer among the top 10 cryptos over the past 30 days. ADA price jumped by over 15% in the last 30 days, while Bitcoin price is up by

Uniswap’s Prior Tussle With Apple The DeFi protocol, currently valued at $3.5 billion, initially revealed the crypto wallet at the beginning of March. However, at the time, Uniswap stated that Apple was delaying its approval and therefore had to be released in a restricted capacity. Uniswap explicitly highlighted in a Twitter thread that Apple was shying away from green-lighting their debut and “we don’t know why”. advertisement Read More: After FTT’s Price Rally Which Other Affected Coins Will Follow Suit? While speaking about the ongoing hurdle with Apple , Uniswap was quoted as saying: We submitted our mobile app months ago and even though we are 100% compliant with their specifications, we’re still stuck in limbo. Trending Stories XRP Price Prediction: XRP Price Coiling Up Before a Massive Move; Enter Now? 24/7 Cryptocurrency News ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead

Dormant Bitcoin Wallet Moves 279 BTC Taking into account the price of Bitcoin at the time of writing, the amount of Bitcoin that is stored in the crypto wallet would translate to be around roughly 31 million USD. This comes on the heels of another Bitcoin whale transferring 2,071.5 BTC yesterday — which is equivalent to 60.7 million USD — after a lengthy nine-year hiatus. Read More: Gary Gensler Gets Rare Support On Crypto From Former SEC Chair While many fear an incoming BTC dump due to such developments, most of the transactions have been made to other standalone Bitcoin wallets rather than crypto exchanges. Reason Behind Reawakening? Although the fact that the cause for the move is unknown, there is widespread conjecture that some long-time crypto HODLers are moving old funds to new wallet addresses in the midst of a massive wallet-draining operation that is purportedly targeting old wallets. On the other hand, some users opine it to be a normal movement of funds to wallet