Episode Details

27th Feb : Crypto & Coffee at 8
🚀 Bitcoin 🚀Global Market🚀 Fake digital yuan app, ❌BitForex goes offline as $57M Withdrawn 🔴HTX Withdraws HK application

🚀 Bitcoin surged past $57,000 as its rally gained momentum. Record volumes were seen in spot ETFs on Monday, coinciding with a 6% rise in bitcoin’s value during U.S. trading hours. This upward movement in bitcoin prompted significant activity in U.S.-based spot bitcoin ETFs, excluding Grayscale’s GBTC, which collectively reached a new peak with $2.4 billion in trading volume on Monday, as reported by Bloomberg. analyst Eric Balchunas via Twitter (X) here https://lnkd.in/dYcEr8hp

- New Nine Bitcoin ETFs have broken all-time volume records today with $2.4b, just barely beating Day One but about double their recent daily average. $IBIT went wild accounting for $1.3b of it, breaking its record by about 30%.

❗Data from Coin Glass, short positions have incurred losses exceeding $180 million since Sunday. However, open interest surged from $48 billion to nearly $54 billion, indicating an increase in bullish positions as traders anticipated heightened volatility. Updated info here https://lnkd.in/d8N4CQPY

❌ A counterfeit digital yuan application has been exposed, as stated in a WeChat post attributed to the Chinese Ministry of Industry and Information Technology. The malicious download closely mimics the official version but exhibits subtle disparities.
In addition to promising financial gains, the counterfeit app is capable of
gathering sensitive user data and offers bogus customer support, directing
users to unfamiliar social platforms to facilitate the unlawful seizure of
their funds, the ministry disclosed. Info here https://lnkd.in/d_w4hcQ8

💡 BitForex, a cryptocurrency exchange, has gone offline following the withdrawal of $57 million from its hot wallets on Feb. 23. Withdrawals have ceased, and the BitForex team is unresponsive to user requests. The website displays a message stating that users have been blocked. It is uncertain whether a hacker breached the hot wallets or if the team voluntarily halted withdrawals. Info via CoinDesk here https://lnkd.in/dh3MCr6j

- Last year BitForex was flagged by Japanese regulators for operating
without a license.

🚨 HBGL Hong Kong Limited, a subsidiary of HTX (previously Huobi), withdrew
its application for a virtual asset trading license from Hong Kong’s securities
regulators on February 23. The withdrawal came just three days after the
application was submitted, as stated on the Securities and Futures Commission website. Last June, Justin Sun had anticipated that HTX could obtain a crypto trading license in Hong Kong within 6 to 12 months, as reported by CoinDesk. Info here https://lnkd.in/d48Y-vcj

Two UAE news (See slides)
⚡ Saudi Arabia launches innovative metaverse platform
⚡ Web3 is just hype a new podcast series by Blockchain DXB
#blockchaindxb

For slides click here http://tinyurl.com/546bbcz7

LinkedIn Profile: https://tinyurl.com/bdeevbru

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