Bitcoin News Thebittimes.Com

December continued to see Bitcoin trade below its 50-, 100- and 200-day moving averages, but stabilization in the DeFi sector is flashing positive signals at the start of 2023. 2022 was a rollercoaster ride of ups and downs for the blockchain industry . While the year’s first quarter looked promising, the crypto industry has been on a downward trajectory ever since. While indications of a global macroeconomic slowdown increase, these headwinds hamper the blockchain industry ’s potential recovery. There are some signs of stabilization in the crypto market and a potential upside at the start of the new year. For those serious about understanding the crypto space’s different sectors, including venture capital, derivatives, decentralized finance (DeFi), regulations and much more, Cointelegraph Research publishes a monthly Investors Insights report. Compiled by leading experts on these various topics, the monthly reports are an invaluable tool to quickly get a sense of the current state...

Hong Kong is doing its best to provide an appropriate amount of supervision to the crypto market in order to release the potential of technologies like Web3. The government of Hong Kong remains committed to the development of cryptocurrency infrastructure despite the ongoing industry crisis triggered by the FTX collapse. According to Hong Kong’s financial secretary Paul Chan, the local government and regulators are open to collaboration with crypto and fintech startups in 2023. Speaking at an event hosted by the state-run incubator Cyberport, Chan declared that Hong Kong has become a foundation connecting high quality virtual asset firms, the public broadcasting service Radio Television Hong Kong (RTHK) reported on Jan. 9. Financial Secretary Paul Chan Mo-po. Source: RTHK The financial secretary said that the Hong Kong government has received lots of requests to set up global headquarters in Hong Kong from crypto-related firms over the past two months. A lot of industry firms have al...