cryptocurrency
- Phuket News
Bitcoin hits the beach: Thailand’s sizzling crypto coup in Phuket
Phuket is set to become a crypto paradise as Thailand trials a new payment system using cryptocurrencies, all in a bid to make it easier than ever for tourists to splash their cash. The architect behind this brainwave reckon it’ll not only put a smile on the face of tech-savvy travellers but will also give the nation’s tourism sector a…
- Thailand News
Ethereum co-founder donates 10 million baht gift to Moo Deng and friends
The co-founder of the leading cryptocurrency Ethereum, Vitalik Buterin, donated 10 million baht to Khao Kheow Open Zoo in Chon Buri to support its wildlife adoption project and to fund the construction of a new home for Moo Deng and his companions. Buterin previously visited Khao Kheow Open Zoo in November to meet the zoo’s celebrity pygmy hippo, Moo Deng,…
- Business News
Thailand considers Bitcoin payment trial in Phuket for tech tourists
Thailand is considering a groundbreaking initiative proposed by former Prime Minister Thaksin Shinawatra to test Bitcoin payments in Phuket, aiming to enhance the country’s appeal to technology-forward tourists. This proposal, however, requires the Bank of Thailand to conduct a detailed examination of the potential risks involved, as highlighted by Gulf Binance, the local division of the global cryptocurrency leader, Binance.…
- Thailand News
Thailand eyes Phuket for bitcoin sandbox experiment
Thailand is edging closer to cryptocurrency adoption, with Finance Minister Pichai Chunhavajira dropping hints about extending the bitcoin sandbox experiment in Phuket. This bold move could position Thailand as a regional leader in digital currency innovation. “We are not suggesting replacing existing currencies with bitcoin.” Pichai emphasised the controlled nature of the trial. Under the sandbox model, bitcoin would be…
- Business News
Crypto hits new heights: Bitcoin Trumps US$100k amid election buzz
In a staggering leap that has set the crypto world ablaze, bitcoin shattered the US$100,000 mark for the first time, skyrocketing from around US$69,000 just a month ago. This meteoric rise comes hot on the heels of the US presidential elections, fuelling frenzied speculation among crypto investors about the impact of Donald Trump’s return to prominence. With crypto enthusiasts on…
- Business News
Bitcoin hits record high after Trump’s US presidential victory
Bitcoin surged past US$81,000 (2.78 million baht) today, November 11, hitting a record high, following Donald Trump’s win in the US presidential election. The victory, alongside the election of pro-crypto candidates to Congress, has fuelled speculation about a more lenient regulatory landscape for cryptocurrencies. The digital currency has experienced a remarkable rise, more than doubling from its lowest point of…
- Business News
Bitcoin set for record high amid US election and rate cuts
Bitcoin is poised for a potential surge to a new record high this month, driven by expectations of further US policy rate cuts and a potential victory by Donald Trump in the US presidential election, according to insights from Merkle Capital, a digital asset fund manager. Last month, Bitcoin reached US$73,600, marking an increase of over 25% compared to the…
- Business News
Bitcoin breaks the bank: Crypto leap sends shockwaves through markets
In a dazzling leap forward, Bitcoin smashed through the US$71,000 barrier, sending shockwaves through the financial world. This crypto milestone, unmatched since June, comes on the heels of hefty inflows into exchange-traded funds and rampant election speculation. As the clock ticked past 10.45am in Singapore, the digital asset darling rocketed over 2%, peaking at an impressive US$71,310. Not to be…
- Business News
Crypto mania: Bitcoin set to skyrocket as interest rates plummet
Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates. Investment wizard Woramet Chansen from Merkle Capital spilled the beans, noting that Bitcoin’s price rocketed over 25% in September. This came hot on the heels of the US Federal Reserve’s first rate cut in…
- Business News
Cryptos surge as BNB leads with 89.6% gain in 2024
Cryptocurrencies are experiencing a resurgence despite global economic challenges and geopolitical uncertainties, emerging as top-performing assets in the first seven months of 2024. Nvidia, one of the Magnificent 7 tech stocks on the US stock exchange, also ranks highly. Binance Coin (BNB) led the cryptocurrency returns this year with an impressive 89.6% gain as of July 22. Bitcoin followed with…
- Thailand News
How Thailand’s consumer behaviour is being affected by cryptocurrency
Many investors believe that cryptocurrencies have significant potential as investment assets. To cater to this interest, financial products related to traditional asset classes have been introduced in various countries. These products include futures contracts, exchange-traded funds (or more commonly referred to as ETFs), and micro futures contracts, which allow for smaller-scale investments. Furthermore, several major banks now offer their clients…
- Economy News
Bitcoin’s bull run: Crypto climbs with biggest surge in months
Bitcoin’s price today experienced a substantial surge marking its most significant single-day gain in two months. This sudden upward movement has been attributed to growing anticipation of a more relaxed monetary policy environment in the coming months. The prospect of central banks potentially easing their grip on digital currency interest rates has injected a wave of optimism into the market.…
- Business News
How Cryptocurrency is changing consumer behaviour in Thailand
Cryptocurrencies like bitcoin or similar have played a significant role in the global economy in recent times, and Thailand is just one of the countries where these changes are taking place. Since the country has a young population, and this population is actually tech-savvy, it didn’t take long for cryptocurrencies to be adopted. While the popularisation of cryptocurrencies in Thailand…
- Business News
Crypto market dips as investors await Federal Reserve meeting
A slump in the crypto market was witnessed today with Bitcoin and other smaller tokens such as Ether, BNB and XRP experiencing a drop in value. Speculators tread cautiously in anticipation of the Federal Reserve meeting this week, which could potentially suggest extended periods of increased interest rates. Bitcoin, the most significant digital asset, fell to its lowest value in…
- Thailand News
Thai police bust major cryptocurrency mining operation
Thai police apprehended multiple individuals and confiscated over 650 cryptocurrency mining devices valued at over 200 million baht in Samut Sakhon and Ratchaburi, following an investigation into suspected electricity theft. The high-profile crackdown involved officers from the Cyber Crime Investigation Bureau (CCIB) and Provincial Electricity Authority (PEA) officials, who targeted the locations due to their exceptionally high power usage. The…
- Thailand News
Thai SEC crackdowns on unlicenced crypto operators
The Securities and Exchange Commission of Thailand (Thai SEC) has declared war on unauthorised digital asset services, aiming to safeguard investors from financial pitfalls. Pornanong Busaratrakul, Secretary-General of the Thai SEC stated that at the meeting on April 19, it was resolved to order the SEC to submit information on unauthorised digital asset service providers to the Ministry of Digital…
- Press Room
Bitbot vs. BNB: Best trading app token investment opportunity for American buyers
Among many of the best crypto investment options, Bitbot is a standout contender, particularly captivating American buyers. This innovative Telegram trading bot token officially launched in January, has already made significant waves in the crypto community. Within 11 weeks, Bitbot has raised $1.9m, signaling strong market confidence and investor interest despite its status as a new cryptocurrency. This article compares…
- Business News
Bitcoin: Binance CEO predicts crypto surge beyond US$80,000
The value of Bitcoin could surpass the projected US$80,000 by year-end, due to increased investment in crypto-backed exchange-traded funds (ETFs) and an upcoming supply cut, according to Binance CEO Richard Teng. During his recent visit to Bangkok, Teng reiterated this optimistic outlook was his personal view, but he pointed to the January launch of spot Bitcoin ETFs in the US…
- Business News
Cryptomind group aims to triple AUM to 3 billion baht amid crypto rebound
Cryptomind Group Holdings announced its aim to triple its assets under management (AUM) to 3 billion baht (US$83 million) this year, following a robust rebound in the cryptocurrency market. This projection is based upon the performance of Merkle Capital Co Ltd, the group’s digital asset fund manager and Thailand’s first licensed entity in this field. The group’s confidence bolsters following…
- Business News
Thai SEC approves private funds to invest in Bitcoin ETFs
Asset management firms have been granted permission by the Securities and Exchange Commission (SEC) to initiate private funds that invest in Bitcoin Exchange-Traded Funds (ETFs). However, this investment opportunity is only accessible to institutional investors and ultra-high-net-worth investors. The SEC board gave its nod to asset management firms managing private funds that invest in Bitcoin ETFs listed on US exchanges…
- Business News
Bitcoin nears all-time high, marking a 50% rise this year
Bitcoin’s value witnessed a steep rise today, reaching a two-year high of US$64,285, a mere 2% shy of its all-time record of US$68,999.99 set in November 2021. This surge marks a 50% increase in the cryptocurrency’s value since the beginning of this year, with the majority of this growth observed in recent weeks. The rise in Bitcoin’s value corresponds with…
- Business News
Bitcoin value triples in a year, hitting over 2 million baht
Bitcoin’s value soared to over 2 million baht on the Bitkub digital asset exchange, as global prices reached an all-time high of US$59,000 yesterday afternoon. This surge is due to the institutional acquisition of spot Bitcoin exchange-traded funds (ETFs) and a growing interest in cryptocurrency among retail investors. Udomsak Rakwongwan, co-founder of decentralised derivatives platform FWX, and Mathematics lecturer at…
- Business News
Bitcoin surpasses US$55,000 mark fuelled by ETFs, MicroStrategy purchases
Bitcoin has once again crossed the US$55,000 mark, a feat not seen since late 2021, bolstered by exchange-traded funds’ investor demand and additional acquisitions by MicroStrategy Inc. In Singapore today, the most significant digital asset witnessed a 1% surge, standing at US$55,112 following an over 5% rise in the US session. Bitcoin’s value has seen an impressive 30% increase since…
- Thailand News
OAG ready to seize 597 million baht from Chinese gang’s assets
In a significant move against financial crime, the Office of the Attorney General (OAG) is primed to seize assets amounting to nearly 596.58 million baht (US$16 million), previously impounded from a prominent Chinese gang on December 7, as stated by Wirun Chanthananan, the director-general of the OAG’s Department of Special Litigation (DoSL). The Anti-Money Laundering Office (AMLO) has a timeframe…
- Business News
Bitcoin hits US$50,000 milestone, crypto market on a digital rollercoaster
Bitcoin, the largest digital asset, oscillated around the landmark value of US$50,000, a level it hadn’t touched in over two years. This marks a remarkable resurgence following the various cryptocurrency scandals and industry wipeouts that had previously cast a shadow of uncertainty over the sector’s future. Yesterday, in the United States, Bitcoin’s value soared to an impressive US$50,328, and it…
- Business News
Bitcoin ETFs surge after US SEC approval boosts annual ROI
Having received approval from the US Securities and Exchange Commission (SEC) for 11 Bitcoin exchange-traded funds (ETFs), the cryptocurrency is seeing a resurgence, boosting its annual return on investment by over 150%. This surge has been aided by a predicted Bitcoin halving in April, leading to the cryptocurrency reclaiming its top position for asset annual ROI. The decision by the…
- Press Room
AAAFx year in review: A testament to success in 2023 and exciting prospects for 2024
In 2023, leading brokerage, AAAFx, achieved a significant milestone by surpassing one million website users. Explore this and other highlights of the broker’s accomplishments, and the exciting opportunities that await in the year to come. AAAFx has had a remarkable year featuring prestigious awards, significant milestones and successful participation in key industry events. From being recognised as the ‘Broker of…
- Business News
Zipmex risks losing license over liquidity issues and inadequate management
Zipmex, a digital asset exchange operator, is facing a potential revocation of its business licence from the Securities and Exchange Commission (SEC) if it fails to resolve its liquidity problem within a fortnight. This issue arises as the company’s capital fund has fallen below the regulator’s minimum standards. The SEC board urged Zipmex to overhaul its operations, blaming the company’s…
- Business News
Binance CEO admits to money laundering, fined over US$4 billion
Changpeng Zhao, the chief executive of Binance, allegedly admitted to money laundering violations in a US court yesterday. The confession will result in the cryptocurrency exchange he founded paying more than US$4 billion in fines. Attorney General Merrick Garland said Binance’s success as the world’s leading cryptocurrency exchange was partially due to its criminal activities. The Department of Justice (DoJ)…
- Thailand News
Trust No One: Thai cyber squad nabs seven Chinese crypto culprits in Bangkok
Thai Cyber Crime Investigation Bureau (CCIB) carried out a “Trust No One” operation in pursuit of crypto scammers and managed to arrest seven Chinese nationals operating crypto fraud and money laundering. In the first episode of the operation, the CCIB conducted raids at six suspicious locations in the Sri Nakarin neighbourhood of Bangkok and arrested two Chinese nationals including a…
