Weekly Crypto Market News / 13 – 19 February
- Hong Kong will become a crypto hub but with a huge list of restrictions.
Read more: It is noteworthy that the Hong Kong SFC proposed that the exchange should not deposit, transfer, lend, pledge, complement….
However, it doesn’t prevent cryptocurrency exchanges from waiting in the queue to get a license.
Read more: Gate OKX Bitget and others have indicated that they are applying for licenses of Hong Kong compliance exchanges.
There haven’t yet been premises for the removal of the restrictions for cryptocurrencies in Mainland China.
Learn more: Hong Kong’s supportive policies for cryptocurrencies have received low-key acquiescence from Beijing as long as they do not threaten China’s financial stability.
- A Web3, and NFT supporter, Neal Mohan has become the new Youtube CEO.
Read more: A personal update from Susan on stepping back from her role as CEO of YouTube.
- The leading bank of Singapore, DBS Bank, applied to provide crypto services. Hong Kong is pushing to attract digital assets businesses, and Financial Secretary Paul Chan last month said the city remains committed to becoming a regional crypto hub.
Read more: DBS Plans to Apply For License to Offer Crypto in HK
- Cathie Wood’s Ark Invest Fond purchased more Coinbase stocks.
Read more: ARK Trade Notifications
- BUSD continues to pay money properly. The capitalization dropped by more than $2 billion. The main outflow of funds is from Binance.
Read more: According to CryptoQuant, the net outflow of BUSD in Binance this week (from the 13th) is about 2 billion, and the BUSD reserve is about 12.474 billion.
- Abu Dhabi to back the growth of Web3 startups with $2B. The initiative promises to provide Web3 startups with access to corporate, government, and investment partners in both global markets and the UAE.
Learn more: Abu Dhabi to back the growth of Web3 startups with $2B
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