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Bitcoin Soars Past $47K, Outstrips Meta in Market Cap Amid ETF Speculation and Intense Trading

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Bitcoin breached the $47K threshold on Monday, fueled by growing excitement over the potential launch of a U.S. spot bitcoin exchange-traded fund (ETF). The leading crypto asset kicked off the day at $43,247 per unit, then climbed to a peak of $47,281 by 2:10 p.m. Eastern Time (ET). Bitcoin Rally Tops $47K Monday afternoon witnessed a notable surge in the market cap’s leading crypto asset, occurring around 2 p.m. ET. Bitcoin ( BTC ) experienced an increase exceeding $3,600 from its daily low, with many analysts linking this upswing to the potential approval of several spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC). The latest market figures indicate that bitcoin’s previous encounter with this price bracket was in December 2021, following its descent from the record high of $69K. Bitcoin chart by TradingView The market valuation of the digital currency soared, reaching precisely $917 billion, eclipsing Meta (formerly Facebook) in market size and sec...
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China’s AML Legal Framework Set to Target Cryptocurrency Transactions in Major Update

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As part of its ongoing efforts to modernize financial regulations, China is revising its Anti-Money Laundering laws to include stringent measures against cryptocurrency-related transactions. This revision, the first since 2007, aims to plug the legal gaps exploited in the burgeoning world of digital currencies. China to Tighten Grip on Digital Assets With Revised Anti-Money Laundering Law China is set to overhaul its Anti-Money Laundering (AML) laws, incorporating cryptocurrency-related transactions into its regulatory framework. This major revision, according to an article in Jiemian.com , is the first since 2007 and comes amid increasing concerns over the use of digital assets in money laundering activities. Prime Minister Li Qiang chaired a key executive meeting of the State Council on Jan. 22, to address the revised AML law. The initial draft for this revision was first proposed in June 2021 and later included in the 2023 legislative work plan of the State Council. The final la...
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Esports Organization TSM FTX Partners With Solana and Serum-Powered NFT Game Aurory

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On October 1, the global esports firm TSM FTX announced the launch of the organization’s first-ever non-fungible token (NFT) collection in partnership with the Solana blockchain-based NFT game Aurory. TSM FTX Collaborates With Solana and Serum-Powered Blockchain Game Aurory During the first week of June, FTX Trading Limited , revealed the crypto company inked a naming rights deal with the U.S. professional esports organization TSM for $210 million. The announcement said that the crypto firm would rename the esports organization “TSM FTX,” and the two companies would collaborate in a multi-year partnership arrangement. On Friday, TSM FTX explained the company is launching the organization’s first-ever NFT collection. The NFTs were crafted by aurory.io . The Aurory game is similar to the blockchain-powered game Axie Infinity but leverages the Solana blockchain and Serum, a decentralized exchange (dex) built on Solana. “Aurory is a JRPG computer game where people will evolve in ...
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