Shares of financial services company Robinhood (NASDAQ:HOOD) jumped 9% in the afternoon session after the stock hit a new all-time high of $132 amid a confluence of positive catalysts, including robust business growth and multiple analyst price target upgrades. The momentum is supported by strong fundamental performance, with the company’s crypto revenues surging 98% to…
(Bloomberg) — The US Securities and Exchange Commission suspended trading in QMMM Holdings Ltd. after its shares surged almost 1,000% in less than three weeks, saying the digital media advertising firm’s stock may have been manipulated by touts on social media. QMMM’s stock has surged 959% since before the company said earlier this month that…
Hong Kong is accelerating reforms of its financial market by making the sector’s ecosystem more resilient and comprehensive, a minister has said, as the city grapples with geopolitics and a rapidly changing technology-led global landscape. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would take a two-pronged approach by strengthening its…
The Hong Kong Monetary Authority (HKMA) cautioned investors that no stablecoins pegged to the offshore yuan had been approved for issuance in the city, as regulators sought to temper the frenzy surrounding digital assets. In a statement published on WeChat on Wednesday, the HKMA refuted claims circulating on social media that the first offshore yuan-pegged…
(Reuters) — Asset managers are lining up to launch cryptocurrency exchange-traded funds, capitalizing on growing excitement around digital assets while getting a boost from looser regulatory requirements to bring products to market. The US Securities and Exchange Commission’s updated standards for ETFs, announced last week, could encourage demand for exchange-traded products tied to cryptocurrencies ranging…
Nearly all crypto assets are seeing red on Monday, with the total market capitalization for all crypto assets falling below $4 trillion since Sunday evening. Bitcoin (BTC-USD) fell 3%. The second-largest cryptocurrency, ether (ETH-USD), fell 6%. Solana’s (SOL-USD) token is down 7%. Dogecoin (DOGE-USD) and World Liberty Financial (WLF) are each down 10%. Over Sunday…
Caliber (NASDAQ: CWD), a real estate and digital asset management platform, has completed its first purchase of Chainlink (LINK) tokens as part of its Digital Asset Treasury (DAT) Strategy. The company plans to fund LINK acquisitions through its ELOC, cash reserves, and equity-based securities. As the first…
The low artificial intelligence (AI) literacy and slow adoption of new technology in Hong Kong’s tourism industry may be holding the city back from realising its full potential as a world-class destination, according to an expert panel at the Redefining Hong Kong conference on culture, sports and tourism, recently hosted by the Post. In 2024,…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…
By Ateev Bhandari and Pritam Biswas (Reuters) -Figure Technologies is targeting a valuation of up to $4.13 billion in its initial public offering, the blockchain lender said on Tuesday, becoming the latest crypto firm to capitalize on revived investor interest in new listings. Renewed regulatory clarity and strong inflows into crypto-focused exchange-traded funds have accelerated…