Phenomenal Performance of Crypto Markets in Q1 2024

In the first quarter of 2024, the cryptocurrency market has witnessed a phenomenal surge. Bitcoin, representing around 50% of the total market cap, showcased a stellar 68% gain that underscored investors' confidence in the emerging digital assets space.

Financial giants set up a digital asset exchange

A new cryptocurrency exchange called EDX Markets was launched in the United States yesterday. The exchange's founders are established titans of the traditional financial industry, such as Citadel Securities, Fidelity, and Charles Schwab.

BlackRock files for a Bitcoin Spot ETF

In a move that could potentially redefine the landscape of digital assets, BlackRock, one of the globe’s leading asset managers, has officially filed an application with the US Securities and Exchange Commission (SEC). The application pertains to establishing a new exchange-traded fund (ETF) with its direct investments in Bitcoin. Interestingly, the custodianship of the deposit would be managed by Coinbase, a premier US-based digital currency exchange, and custodial service.

MiCA legislation approved - a significant milestone for digital assets

In May, the European Union's leadership council approved a comprehensive new regulatory framework for cryptocurrencies, set to become law across Europe and take effect in 2024. This marks a significant step towards establishing a holistic regulatory framework for cryptocurrency operations, something stakeholders within and outside the industry have long called for. The framework, called Markets in Crypto Assets (MiCA), establishes a foundation for companies operating in this space within Europe and promotes industry development and investment.

The Debt Ceiling and its impact on the Market

There has been considerable discussion about the US government's debt ceiling. The debt ceiling is the amount the US government is legally allowed to owe. To increase the debt beyond this limit, a law change is needed to raise the debt ceiling. The US government is expected to run a deficit of around 1.5 trillion dollars this year, and forecasts predict that the deficit will double as a percentage of GDP over the next 30 years (Congressional Budget Office).

China and Hong Kong re-enter the digital asset world

Increasingly, nations worldwide are beginning to see opportunities in the substantial growth occurring in the cryptocurrency sector. Many are trying to attract businesses focusing on this new technology. This trend is often compared to the Silicon Valley boom in the United States, where many of the world's largest tech companies have emerged.

Bitcoin gains momentum amid a banking crisis

The banking crisis in the United States is in full swing, with three major American banks being taken over or declared bankrupt. These three banks are among the largest that have collapsed in the history of the United States.

The biggest Ethereum update of the year

The Shanghai upgrade occurred on the Ethereum blockchain on April 12 and is the first major upgrade to Ethereum after the proof-of-work (mining) for transaction verification was discontinued. The so-called "staking" reward system took over.

Central Bank Interventions - Are there any limits?

In this article, we will briefly discuss the situation of foreign central banks. Although the current situation in Iceland is not described here, Icelanders are, of course, no strangers to interventions in the banking system, considering that the most significant banking crisis in the world happened here in relation to the size of the economy. This discussion concerns the world as a whole, as the world's economies have never been more interconnected.

Viska invests in CCP's AAA game built on blockchains

We are delighted to announce that Viska, a cryptocurrency fund, is one of the few entities that had the opportunity to invest in the new blockchain project of the video game developer CCP.

Fidelity allows digital asset trading for retail

News continues to arrive about large institutional investors entering the cryptocurrency field. Fidelity Investments has opened access for general investors to purchase Bitcoin and Ether without hindrance.

Policy shift at the FED - money printing in full effect

Updated figures on the Federal Reserve's (FED) economic account status were published yesterday. It's safe to say that a significant policy shift of the bank can be noted when examining the figures.