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Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has officially launched its Bybit Physical Card exclusively for its Brazilian users, based on information shared with Finbold on Tuesday, January 7. Building on the success of the virtual card introduced in September last year, the new product comes with Bybit Card’s full virtual and physical payment capabilities.  Exclusive benefits and widespread crypto support The Bybit Physical Card allows Brazilians to seamlessly incorporate crypto into their everyday lives by supporting mainstream cryptocurrencies, including USDT, BTC, and ETH. Picks for you Sui founder reveals the next AI ‘big opportunity,’ eyes partnership with OpenAI 12 mins ago ‘Rich Dad’ K...

Interview : Tong, PANews Written by : Zen, PANews Helen Liu is an atypical executive in the crypto exchange world. She comes from a human resources background and was new to crypto when she joined the exchange. She is also one of the oldest among the executives and rarely uses social media. Yet, in many ways, she is a typical crypto executive. She works harder than most younger colleagues, embodies a “work hard, play hard” culture, has extensive global experience that suits the exchange’s international needs, and practices the crypto community’s values of transparency and sharing. If we were to draw a parallel for her in the crypto world, Helen could be considered the Peng Lei of the space. In October, PANews interviewed Helen at Bybit’s headquarters in Dubai. Without an introduction from her assistant, you might not believe that the woman sitting by the pantry in the company lobby, dressed in a company t-shirt, holding a laptop, and in the middle of a remote video meeting, is the COO ...

Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips. Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move. A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline. Daily cryptocurrency market performance. Source: Coin360 MicroStrategy founder and executive chairman Michael Saylor said in an interview with CNBC that if traders hold a 12-month to 48-month time horizon, the current level is...

Bitstamp’s decision to discontinue operations in Canada is “primarily a timing issue” related to the firm’s expansion priorities, Bitstamp U.S. CEO said. Cryptocurrency exchange Bitstamp hopes to return to Canada after halting operations early next year, according to Bitstamp U.S. CEO and global chief commercial officer Bobby Zagotta. Bitstamp will officially discontinue its services to customers in Canada starting from Jan. 8, 2024, the exchange confirmed in a statement to Cointelegraph. As a result of the service termination, all Canada accounts on Bitstamp will be closed and customers will no longer have access to their accounts. Bitstamp has strongly recommended its Canadian customers withdraw their funds by January 2024, also urging the clients to deactivate their Bitstamp accounts. “We want to emphasize that your crypto assets always remain yours, and we are committed to reaching out to any customers who were unable to close their accounts themselves to ensure the return of the...

Binance’s lost spot trading volume has been reportedly distributed among exchanges like HTX (formerly Huobi), Bybit and DigiFinex. Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States. Binance’s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCData According to the report, Binance’s spot market share dropped from 38.5% in August to 34.3% in September. In January 2023, Binance’s spot market share accounted for as much as 55.2%. Binance's global spot market share percentage chart year-to-date. Source: Bloomberg Apart from the spot market, Binance has also been losing market share in the derivatives market. According to the report, Binance’s derivatives market share tumbled from 53.5% in August to 51.5% in September. In January, the exchange’s market dominance in the derivatives m...

Bitcoin starts the week with a trip to $26,000 — can BTC price strength overcome sellers and a weekly “death cross?” Bitcoin (BTC) starts the last week of September with a retest of $26,000 as a stubborn range persists. An unimpressive weekly close sets the tone for the culmination of a traditionally lackluster month for BTC price action. Having shaken off a hectic week of macroeconomic events, Bitcoin has plenty more to weather before September is over. United States gross domestic product figures for Q2 will come on Sept. 28, with Personal Consumption Expenditures (PCE) data following the day after. The highlight, however, will likely come in the form of a speech from Jerome Powell, chair of the Federal Reserve, a week after it opted to hold U.S. interest rates at current elevated levels. Inflation remains a major talking point into Q4, and Bitcoin still lacks direction as week after week goes by without a clear upward or downward trend emerging. Will this week be different? The cou...

After today's Bitcoin ETF decision delay, BTC's boring price action looks set to carry on through the weekend. Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens.  A minor positive in favor of the bulls is that they are holding on to a large part of the gains seen in 2023. That indicates a lack of urgency among the bulls to book profits as they anticipate the uptrend to resume. Daily cryptocurrency market performance. Source: Coin360 Bloomberg senior ETF analyst Eric Balchunas highlighted that 15 of the best performing equity exchange-traded funds in 2023 have been crypto-related with exposure to crypto and blockchain. Do Bitcoin and the select altcoins show any signs of a potential breakout from their respective ranges? Le...

The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative? Coinbase, a leading U.S. cryptocurrency exchange , shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, in millions of dollars. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in Q2. Services and USDC stablecoin impact growth One downside was the 7% fall in subscription and service revenue from Q1. The letter to shareholders revealed that a 28% decrease in the USD Coin (USDC) market cap partly caused this. Since Coinbase holds a stake in Circle, USDC's issuer, it gains from the interest rate offered by the stablecoin reserves. Addition...

The court also rescheduled the pre-trial conference to a pre-motion conference, shifting it to July 13 from its original date of Aug. 24. The United States Securities and Exchange Commission (SEC) will present its response to Coinbase’s first legal defense on July 13, according to a court order issued on Thursday, June 29. In a legal document filing, the SEC submitted a request to the court for a three-business-day extension. This extension was sought to provide the SEC adequate time to prepare a response to the letter submitted by Coinbase, the defendant. The defendants have agreed to the request. The previous deadline for the SEC to file its response to Coinbase’s letter was July 3, 2023, according to Rule 4(A) of the court’s individual rules. However, Judge Katherine Polk Failla approved the SEC’s request for more time and set the new date of July 13. In addition, the court rescheduled the pre-trial conference to a pre-motion conference, bringing it forward to July 13 at 2:00 p...

On-chain data and ETH price charts are beginning to hint at a possible rally to $3,000. Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging.  Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange balances for ETH reached a new low of 12.6%, dropping sharply in the last 30 days, according to Glassnode data. Reduced supply on exchanges is usually a bullish sign, as it means fewer tokens are readily available for selling. Percentage of ETH’s supply on crypto exchanges. Source: Glassnode The netflow volume of deposits and withdrawals from exchanges shows a steep surge in withdrawals at the start of June amid a regulatory crackdown on Binance and Coinbase. The data should be taken with a grain of salt, as withdrawals were caused by inv...

The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term. The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon recently told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility. The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third most preferred asset class behind Gold and U.S. Treasuries should the U.S. government fail to prevent a debt default. Daily cryptocurrency market performance. Source: Coin360 Billionaire fund manager Paul Tudor Jones told CNBC that he is holding his Bitcoin and will always have some portion of his portfolio in it. What are the important support and resistance levels to watch ...