Blockchain Press Releases
HTX Ventures: Crypto’s Impact on 2024 U.S. Election Dynamics
SINGAPORE, Nov. 5, 2024 /PRNewswire/ — HTX Ventures, the global investment division of HTX, today unveils its latest research on crypto and its impact on the much anticipated U.S. presidential election. This marks the first time that crypto has become a key issue in a U.S. election, and the report, titled 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation, aims to discuss the reasons behind it and analyze what crypto will potentially look like after the election.
Both presidential candidates, Donald Trump and Kamala Harris, have leveraged crypto in their campaigns to garner support from the crypto community. As the report suggests, there are four reasons that crypto has come to the center of the stage.
First of all, crypto is becoming more important to the U.S. On the one hand, no matter which candidate wins, the U.S. deficit and debt burdens are likely to go worse, and “as a decentralized and scarce asset, Bitcoin can serve as an effective tool for governments and investors to hedge against inflation and risk. In particular, it holds potential strategic significance in the face of debt and inflation pressures,” the report points out. On the other hand, stablecoins can help expand the international influence of the U.S. dollar. The growing significance leads to the second reason that the voters are more and more interested in crypto.
Thirdly, as the Biden administration implemented tight regulation on crypto, the industry now calls for a new regulatory framework which is more relaxed.
Lastly, crypto companies have become the main contributors to political donations in 2024. The report indicates that, “these funds not only influence presidential candidates’ policies but also push for congressional election strategies in favor of cryptocurrency. As a result, the crypto industry has moved from behind the scenes into the public eye, becoming a vital force in U.S. politics.”
The report then compared the two candidates’ crypto policies. Harris is expected to be more crypto-friendly than Biden. However, she has made limited statements on crypto policies, and is cautious on key issues like taxation, Bitcoin mining, and self-custody.
Trump, on the other hand, has shown strong interest in the digital asset industry, claiming that he aims to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world”. He has proposed a series of crypto policy proposals, including creating a strategic Bitcoin stockpile, establishing a crypto Presidential Advisory Council, and barring the Federal Reserve from issuing a digital currency. The report anticipates that, should Trump win, there will be a clearer and more relaxed regulatory environment that benefits crypto startups and DeFi. Meanwhile, as Trump has promised to substantially lower U.S. interest rates if he is re-elected, the prices of crypto assets may be driven up thanks to increased liquidity.
The report also discusses the emergence of on-chain prediction markets. Compared to the centralized betting providers, they utilize smart contracts and decentralized ledgers to create transparent global markets, ensuring that these platforms are fair and tamper-proof.
Polymarket is the most successful platform in the sector, which secured 80% of the volume brought on by wagers on the U.S. presidential election. It has been adopted by multiple mainstream media outlets as an alternative news source. As a Web3 prediction market, Polymarket has surpassed its Web2 competitors and holds the largest market share, which is extremely rare. “Prediction markets’ impact has extended into various fields such as public opinion, financial hedging, and business decision-making,” the report states.
To read the full report, please visit: 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at [email protected]
Contact Details
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Blockchain Press Releases
KuCoin Shines at The Gateway Event, Advocating for Blockchain Innovation Through TON
DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.
Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.
“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.
KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Blockchain Press Releases
UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT
SINGAPORE, Nov. 2, 2024 /PRNewswire/ — UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.
With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.
“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.
As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.
DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.
Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer
About DigiFT
DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg
For media enquiries, please contact [email protected]
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Blockchain Press Releases
Bybit Protects First-Time Copy Traders Against Potential Fiat Losses in Limited-Time Offer
DUBAI, UAE, Nov. 1, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has introduced new fiat protection for trading novices to counter potential market risks. First-time depositors may enroll to protect their investment in Bybit’s Fiat Loss Coverage Frenzy campaign this season.
From now to Dec. 1, 2024, Bybit is offering up to 100 USDT in Fiat Loss Coverage Vouchers (“the Voucher”) for as little as 100 USDT in first-time trading. Users making a first-time deposit and lured by the power of Copy Trading may sign up for the exclusive event for a confidence boost as well as potential capital protection.
The generous offer is available for eligible users only and the number of Vouchers is limited. Users may follow three simple steps to seize an opportunity to minimize their risk of asset devaluation:
- Deposit: Users making a first-time deposit of at least 100 USDT in any currency via Bybit P2P, Fiat Deposit or One-Click Buy
- Claim the Voucher: Access the “Claim” button at the Bybit Copy Trading page for up to 100 USDT in Fiat loss coverage
- Explore Copy Trading: Choose the first Master Trader wisely and execute the first copy trade in the amount of at least 100 USDT in either Smart Copy Mode or Advanced Copy Mode. Should the trade result in a loss, holders of the Voucher will be reimbursed up to the Voucher value.
Fiat and crypto solutions on Bybit come with copious benefits and rewards, including innovative mechanisms to enhance Bybit’s protection of users’ interests. The exchange is also trusted for its deep liquidity and tried-and-tested reliability, 24/7 customer support, and diversity of products and solutions.
“Investing comes with risks, and for retail investors starting to diversify into crypto, we’ve got their back. This campaign is a gesture of support and an invitation into the world of digital assets for new users, and Bybit serves to take away some of the stress for a better trading experience,” said Joan Han, Sales and Marketing Director at Bybit. “I hope it offers extra protection for new traders as they embark on their journey,” she added.
Visit Bybit Fiat and explore Bybit Copy Trade for more information, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
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