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cointelegraph.com Mar 12, 2025 21:45

Rumble embraces Trump-era crypto strategy with $17M BTC purchase - Video-sharing platform Rumble says it had purchased more than $17 million worth of Bitcoin as part of a previously announced investment strategy.In a March 12 notice, Rumble said it had added 188 Bitcoin (BTC) to its treasury for roughly $17.1 million. The investment, suggested by CEO Chris Pavlovski in November following Donald Trump winning the US presidential election, was touted as a hedge against inflation and part of a broader move to deepen ties to the crypto industry.The platform hinted it could make additional Bitcoin purchases depending on market factors. Though Rumble did not specifically mention Trump or his attempts to establish a strategic Bitcoin reserve and crypto stockpile at the federal level, Pavlovski’s social media posts suggested strong support for the US president’s policies. Rumble’s cloud currently hosts Trump’s social media platform, Truth Social — the president’s primary method for public communications — and entered into an agreement with El Salvador’s government in January to provide services. Cointelegraph reached out to Rumble for comment but did not receive a response at the time of publication.Related: Tether pours $775M into video-sharing platform RumbleWith Bitcoin on its balance sheet, Rumble joins a list of companies that have invested in crypto following the November election, including AI firm Genius Group and software company Semler Scientific. The share price of Rumble stock has fallen roughly 34% since Jan. 1. US government could soon hodl BitcoinSince Jan. 20, the Trump administration has deepened ties between the US government and the crypto industry through executive action and policies. The US Securities and Exchange Commission, one of the biggest financial regulators in the country, announced it would be dropping investigations and enforcement actions against many crypto firms over allegations of unregistered securities offerings. Trump also hosted many crypto executives and CEOs at the White House on March 7 as part of a summit to discuss a proposed national Bitcoin reserve and crypto stockpile.Trump’s proposed Bitcoin reserve — which could be codified into law if Congress moves forward with legislation — could see all BTC seized by US authorities HODLed rather than sold at auction. It’s unclear how this action may affect the price of the cryptocurrency.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

FOMO: 85%
cointelegraph.com Mar 12, 2025 21:15

Crypto exchange OKX secures MiFID II license in Europe - Cryptocurrency exchange OKX has acquired a key European Union license that will enable the company to offer derivatives products throughout the region, potentially opening the door to a more advanced segment of the trading community. In a March 12 announcement, OKX’s Europe CEO, Erald Ghoos, confirmed that the exchange acquired a Markets in Financial Instruments Directive (MiFID II) license. The license will allow OKX to launch derivatives trading products for institutional investors across the EU.Source: OKXThe announcement came less than two months after OKX secured a preauthorization under the Markets in Crypto-Assets (MiCA) framework, which allows the exchange to offer localized services across 28 markets within the European Economic Area.Although the MiFID II and MiCA licensing regimes are seen as complementary, they serve different purposes. MiFID II applies to all types of financial instruments and requires crypto derivatives platforms to register. On the other hand, MiCA applies to crypto-asset service providers dealing with cryptocurrencies that are not considered financial instruments. Headquartered in Seychelles, OKX is one of the world’s largest cryptocurrency exchanges based on daily volume. According to CoinMarketCap, the exchange processed nearly $3.7 billion worth of spot trades on March 12. Related: Kraken secures MiFID license to offer derivatives in EuropeGrowing demand for derivativesDemand for cryptocurrency derivatives has been on the rise as more institutional investors enter the digital asset space. A November report by CCData placed the centralized crypto derivatives market at nearly $7 trillion, having climbed 89.4% and surpassing the previous peak in March of last year. Crypto derivatives volumes reached all-time highs in the fourth quarter of 2024. Source: CCDataA February 2024 report by EY predicted that the evolution of decentralized finance (DeFi) would continue to catalyze crypto derivatives markets. The report said:“Despite the high-profile crypto firm bankruptcies in the 2022 crypto recession, which have led to increased calls for greater regulation of the crypto asset industry, including the derivatives-trading sector, it is expected that the crypto derivatives market will continue to grow and evolve with the launch of new products that address market participants’ investment and hedging needs.”When Kraken secured its MiFID license last month, it cited Europe as “one of the most active regions for crypto derivatives trading.”Although not referencing solely derivatives trading, CME Group called Europe the world’s second-largest cryptocurrency economy, accounting for nearly 18% of global transaction volumes. Magazine: Block by block: Blockchain technology is transforming the real estate market

FOMO: 90%