- Crypto Advocacy Group Urges Kamala Harris to Embrace Blockchain Technology
- Hong Kong Set to Launch Asia’s First Inverse Bitcoin ETF
- ARK Invest Report Suggests Bitcoin Oversold After German Government Sell-Off
The Digital Chamber, a crypto advocacy group, has taken a bold step by penning a letter to US Vice President Kamala Harris, urging her to adopt a more blockchain-friendly stance. The group emphasized the importance of supporting crypto innovation in the United States and recommended that Harris include digital assets in the Democratic Party’s platform.
The letter comes at a crucial time as Harris confirmed her intent to run as the Democratic nominee in the 2024 presidential election, following President Joe Biden’s decision to drop out of the race. The Digital Chamber’s call for a pro-crypto policy approach highlights the immense potential for innovation, economic growth, and financial inclusion that blockchain technology offers.
In other news, Hong Kong is set to launch Asia’s first inverse Bitcoin futures product, the CSOP Bitcoin Future Daily (-1x) Inverse Product. This new exchange-traded fund by CSOP Asset Management aims to provide investors with a way to profit from declines in the price of Bitcoin. The launch follows the success of the CSOP Bitcoin Futures ETF in December 2022, signaling the firm’s continued expansion in the Asia-Pacific region.
Meanwhile, a report by ARK Invest suggests that Bitcoin was significantly oversold after the German government offloaded billions’ worth of confiscated BTC. The asset manager believes that Bitcoin could recover from oversold levels, citing signs of miner capitulation and bullish momentum from spot Bitcoin exchange-traded funds.
Overall, these developments underscore the growing importance of blockchain technology and digital assets in the global financial landscape. As policymakers and investors alike navigate the evolving crypto landscape, the decisions made today could shape the future of finance tomorrow.