Bitcoin News and Finance: What You Need to Know

HSBC announced the launch of a platform that will allow the tokenization of gold bullion, with a stated potential market reach of $525 billion. Mark Williamson, HSBC’s global head of FX and commodities partnerships and propositions, stated that these gold tokens will be tradable using HSBC’s platform, with the bank handling custody of the gold bars in its London vaults. HSBC Enters Gold Tokenization Era HSBC, one of the world’s largest financial institutions, has started using tokenization technology to modernize the precious metals trading industry. The bank announced it is launching a gold tokenization platform to simplify the trading of gold, to allow traders to have better control of the bullion they own, according to statements from Mark Williamson, HSBC’s global head of FX and commodities partnerships and propositions. The gold bars in the platform will be tokenized, and the owners will have the chance to track their bullion via the serial number and the vault where it is l...

By the end of Q3 2023, activity in the stablecoin category as measured by the number of daily active addresses (DAA) stood at over 400,000 — the highest in any category. In the decentralized finance (defi) category — the next highest-ranked category — the number of DAAs at the end of Q3 was just over 200,000. Stablecoin Activity Nearly Doubles That of Decentralized Finance According to the findings of Quicknode ’s latest study, stablecoins are now ranked the most popular blockchain category after ending Q3 with 400,000 daily active addresses (DAA). In addition, the stablecoin category is the only one to register growth in the three quarters that were reviewed. For instance, in Q1 the average DAAs stood at 317,000 and went up to 450,000 in Q2. In Q3, the category’s DAAs had increased marginally to 461,000. As shown by the study data , the stablecoin category’s DAAs at the end of Q3 are approximately double that of the next highest-ranked category — decentralized finance (defi). In t...

In October, the landscape of bitcoin mining revenue brightened, climbing by $131.45 million over September’s figures. Last month’s surge in BTC prices significantly bolstered revenues, although there was a slight dip in the earnings from fees, which saw a $5.44 million decrease from the previous month. October emerged as the runner-up for the year in terms of monthly revenue generated from BTC block rewards. Staying Alive — October Marks Near-Record 2023 Earnings for Bitcoin Mining As of this report, a total of 43 distinct mining pools are channeling SHA256 hashpower toward the Bitcoin blockchain. Collectively, they contribute an impressive 463 exahash per second (EH/s). In the past month, Foundry USA led the charge, discovering 28% of the block rewards, while Antpool was close behind, securing 27% of the subsidies in October. Not to be overshadowed, both F2pool and Viabtc each claimed about 11%, and Binance Pool rounded out the group by locating 7.23% of the month’s total block...

Director of Rosfinmonitoring Yuri Chikhanchin referred to the rise in popularity that crypto is experiencing in Russia in a recent interview, stating that more than 185,000 cryptocurrency transactions were completed during the first nine months of 2023. Chikhanchin also called for regulation in the crypto industry to be introduced as soon as possible due to its involvement in illicit activities. Rosfinmonitoring: Crypto Adoption Rises in Russia Cryptocurrency is gaining traction in Russia, according to statements by Yuri Chikhanchin, director of Rosfinmonitoring, the Federal Service for Financial Monitoring. In an interview given to Izvestia, Chikhanchin talked about the recent rise in crypto transactions during the first nine months of 2023 and how they have surpassed the total completed in 2022. Chikhanchin told Izvestia: According to our data, the number of transactions with cryptocurrency in the nine months of this year exceeded 185,000 (last year, during the same period, 60...