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Day: June 1, 2022

First Mover Americas: BTC Starts June Trading Flat, Alts Decline

The latest moves in crypto markets in context for June 1, 2022. Price point: Bitcoin trades flat and altcoins underperform. Market Moves: BTC futures now account for 63% of the open interest in the crypto futures market. Price Point Bitcoin (BTC) opened its first day of trading in June at around $31,800. The world’s largest cryptocurrency by …

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Chinese electric car start-up WM Motor files to go public in Hong Kong

KEY POINTS Although China’s electric car market is the largest globally and a fast-growing one, automakers such as BYD and Tesla dominate sales. Chinese start-ups such as Nio and Xpeng — both listed in the U.S. and Hong Kong — have made headlines, but still have a small portion of the market. WM Motor has …

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Binance-Supported Deal for Forbes to Go Public Via SPAC Is Called Off

Binance had invested $200 million in Forbes earlier this year as part of the plan. Forbes Global Media Holdings confirmed Wednesday its shareholders have terminated plans to go public through a special purpose acquisition company (SPAC). The New York Times reported the news Tuesday, citing two people familiar with the matter. The Times attributed the decision, which would …

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Apple’s upcoming developer conference sparks rumors of NFT trading cards

The Worldwide Developer Conference 2022, hosted by Apple, will be held online between June 6–10, and feature some of the leading experts and advocates within the tech field. In the lead-up to the 33rd edition of the annual Worldwide Developers Conference (WDDC) set to commence on June 6, tech giant Apple has unveiled plans to …

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BITFARMS MINED 431 BTC IN MAY, NOW HOLDS $192 MILLION IN BITCOIN

Bitfarms, a publicly traded miner, released its bitcoin mining update showing 431 BTC mined with 6,075 BTC ($192 million) held in custody. Bitfarms released a mining and production update for May 2022. The company mined a total of 431 BTC valued at $16.6 million and deposited 429 BTC into custody (99%). The miner now holds …

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Russia’s Central Bank Makes U Turn about Crypto Usage in International Payments

As a change of tune, Russia’s central bank is relieving its previous tough stance about cryptocurrencies by allowing their usage in international payments, as reported by Reuters. The First Deputy Governor of the Central Bank of Russia (CBR), Ksenia Yudaeva, noted: “In principle, we do not object to the use of cryptocurrency in international transactions.” Despite Yudaeva reiterating that …

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Singapore’s Deputy Prime Minister Advises Retail Investors to Steer Clear of Cryptocurrencies

Singapore’s deputy prime minister has advised retail investors to steer clear of cryptocurrencies, citing that they are “highly risky.” He stressed, “We cannot express this enough.” Singapore’s Deputy Prime Minister Warns About Crypto Singapore’s Deputy Prime Minister Heng Swee Keat reportedly warned retail investors against investing in cryptocurrency Tuesday while speaking at the Asia Tech …

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