HashKey Global, a cryptocurrency exchange launched by Hong Kong’s HashKey Group for international customers, has entered the futures market with the launch of Bitcoin (BTC) and Ethereum (ETH) perpetual contracts.
With the Federal Reserve keeping interest rates unchanged to 5.25%, the massive outflows recorded by the US spot Bitcoin ETFs bring the total assets under management (AUM) to under $15 billion.
The bearish sentiment wasn’t limited to the US. Even on the global scale, digital asset investment products saw their largest outflow of over $600 million in almost three months.
Collectively, the 14 US mining companies have a network hash rate of approximately 23.8% of the total market share.
Bitfarms plans to leverage its farm design expertise and operational excellence to make the new facility one of its best locations, well-optimized for growth.
Fidelity’s FBTC, the once-hot ETF, bore the brunt of the selling pressure, seeing its second-largest net outflow day ever with $106 million leaving the fund.
On Tuesday, several crypto mining stocks like CleanSpark, TerraWulf, Hut 8 Mining and other rallied by 8-10% following support from former president Donald Trump.
Even with positive inflation data, the Federal Open Market Committee (FOMC) decided to keep the federal funds rate target range at 5.25% to 5.50% during their June meeting.
The financial secretary also discussed Hong Kong’s effort in developing Web3 and the cryptocurrency market.
The upcoming FOMC meeting and the release of actual CPI data could significantly impact investor confidence and influence the net flow trend for Bitcoin ETFs.
GameStop announced the proceeds from the ATM program will be used for general corporate purposes including strategic acquisitions and investments.
The US spot Bitcoin ETFs registered a net outflow of about $65 million on Monday, coinciding with the crypto selloff in the past 24 hours.
Amid the GameStop stock drama, a meme coin dubbed $GME has been making waves in the cryptocurrency market.
The analyst believes that fund managers will now be seeking to reallocate resources.
Two financial stakeholders in Malaysia have partnered to give citizens access to cryptocurrency, through digital asset exchange-traded funds for BTC, ETH, and blockchain-related companies.