IMRAN - khan

$BTC $ETH $XRP
🔍 Major Headlines:
1. Bitcoin & Ethereum Rally on U.S. Data:
• Bitcoin crossed $114,000 after a ~2.6% gain, while Ethereum moved above $4,400 with about a 2% rise.
• Softer than expected U.S. producer price index (PPI) data has raised hopes of future interest rate cuts, which helped fuel the move.
2. Cooling of Crypto Euphoria; Stocks of Crypto Heavy Firms Tumble:
• Companies that hoarded large amounts of Bitcoin and other cryptos saw their stock prices drop, as investors pull back from overly leveraged exposure.
• Examples include firms like Metaplanet down more than 60% from its June peak and others while still up year to date, their recent performance has been weak.
3. India Holds Back on Full Crypto Legislation:
• India is resisting putting in place a full framework for cryptocurrency because of concerns that integrating crypto into formal finance may trigger systemic risks.
• The Reserve Bank of India (RBI) believes regulation alone won’t solve potential risks, and the government is wary of legitimizing widespread crypto use.
4. Nasdaq Pushing for Tokenized Securities:
• Nasdaq has proposed that tokenized securities traditional assets converted to blockchain tokens be allowed to trade on its main market.
• If approved this would be a major step toward integrating digital assets more deeply into the existing financial system.
5. Hong Kong’s HashKey Launches $500M Digital Asset Treasury Fund:
• HashKey Group is a licensed crypto exchange in Hong Kong, is starting a fund with a $500 million initial target.
• The fund aims to invest in mainstream assets Bitcoin, Ethereum and support projects in the broader Web3 blockchain infrastructure space.