Coin circle news focus:

  • Are cryptocurrencies linked to terrorism? Elliptic: Wall Street Journal exaggerated report

  • Bitcoin supply hits 5-year low, researchers: price momentum

  • The combination of blockchain and traditional finance, JPMorgan Chase JPM Coin expands development

The currency circle boss said this:

  • Kaduna: "Don't buy mini projects in the bull market!"

Critical hit chance this week:

  • 🚀《Investing in Blockchain from Scratch》|〈Binance〉x〈Chain Apprentice〉Collaboration Lecture

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.10.26 AM 08:30 ~ 2023.10.27 AM 08:30

Coin News Focus

Are cryptocurrencies linked to terrorism? Elliptic: Wall Street Journal exaggerated report

The Wall Street Journal recently reported that Hamas has raised millions of dollars through cryptocurrencies, causing many members of the U.S. House of Representatives, led by Ellisabath, to demand that the government crack down on cryptocurrency-related criminal financial flows. However, blockchain analytics firm Elliptic said the reports misinterpreted the data and exaggerated the actual situation, a move supported by the founders of large crypto institutions such as Coinbase and Massari.

Blockchain analytics firm Elliptic reported that Hamas did begin to try to use crypto assets to raise funds, but the amounts raised were still minuscule compared to other funding sources. Elliptic has contacted the Wall Street Journal and tried to clarify. However, the clarification article by Ian Talley, the reporter of the report, only further confirmed that the data cited were inconsistent with the facts and lacked substantial evidence.

Nonetheless, the U.S. Treasury Department pointed out that cryptocurrency links to terrorism in the region exist to some extent, and it is worth paying attention to how the current government will change cryptocurrency regulatory policies.

 

Bitcoin supply hits 5-year low, researchers: price momentum

According to Matt Weller, a researcher at Forex, the current supply of Bitcoin on cryptocurrency exchanges is dwindling, with exchange balances falling to five-year lows, leaving the asset in a potential undersupply.

At the same time, data from on-chain data platform Glassnode shows that the number of Bitcoins currently circulating on cryptocurrency exchanges has dropped to 2.3 million, the lowest point since April 2018. Matt Weller pointed out that with reduced supply in the market, only a small increase in demand can quickly push up prices, and when the spot ETF is officially approved, it may "fundamentally change the supply and demand pattern of Bitcoin."

 

The combination of blockchain and traditional finance, JPMorgan Chase JPM Coin expands development

According to Bloomberg, American financial giant JPMorgan currently handles transactions worth $1 billion through its digital token JPM Coin, and the institution plans to continue to expand the use of this token.

JPM Coin is a settlement token that enables JPMorgan Chase’s institutional clients to make blockchain-based wholesale payments between accounts globally. Since its inception in 2019, JPM Coin has been used to make U.S. dollar-denominated payments and added support for the euro in June this year, a reflection of blockchain technology combined with traditional financial applications.

 

Other currency news

  • When is the Ethereum spot ETF coming? Analyst: Or after the adoption of a Bitcoin spot ETF in 2024.

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