FTX reduces max leverage from 101x to 20x to encourage ‘responsible trading’
Sam Bankman-Fried, the CEO of surging crypto derivatives exchange, FTX, has slashed its maximum leverage in a move to promote responsible trading practices. Crypto derivatives exchange FTX has decided to curb risky trading by limiting the leverage available to its users.
Amazon plans to accept Bitcoin payments this year, claims insider
“It begins with Bitcoin,” an anonymous insider said in describing Amazon’s intent to enter the cryptocurrency payments arena. Amazon plans to accept Bitcoin payments this year, An anonymous source within Amazon has reportedly told London business newspaper City A.M. that the e-commerce giant is planning to accept Bitcoin (BTC) payments by the end of 2021, possibly setting the stage for broader mainstream acceptance of crypto transactions.
BTC bulls await breakout above 50-day EMA
BTC price inched toward 2020’s support with traders expecting more gains if a breakout occurs. A four-day winning streak brought the Bitcoin (BTC) prices closer to testing its 50-day exponential moving average (~$35,115) as resistance. The wave, which was instrumental in strengthening Bitcoin’s bullish bias across 2020 as support, flipped to become a resistance during the May 2021 sell-off.
Finding the sweet spot: Traditional financial institutions ready for DeFi
With the announcement of Aave Pro, a DeFi platform exclusively for institutional investors, the big boys may finally be getting ready to play with blockchain. Cryptocurrencies have been vying for the attention of large institutional investors for years and they’re finally getting the attention they wanted.
43% of Singaporeans own crypto, according to an Independent Reserve survey
Cryptocurrency adoption is growing in Singapore, especially among younger generations looking to capitalize on the generational wealth potential of Bitcoin (BTC) and other digital assets, according to a new survey conducted by the Asia-Pacific cryptocurrency exchange Independent Reserve.