We're thrilled to see that Hong Kong's regulator has opened up crypto trading to retail customers through a new consultation.
We've made preparations in advance, and are excited to announce some exciting developments that will benefit #Bitgetters globally. 👇🧵 (thread)
1/ At the end of last year, we hired HK lawyers and compliance professionals to ensure we are up to date on all relevant HK policies.
And now, we're preparing to apply for a crypto trading license in Hong Kong!
2/ This move will allow us to better serve our customers in the region while maintaining the highest standards of security and compliance.
3/ This is a major step forward for the industry and for #Bitget, as we continue to expand our footprint around the world.
4/ We're already making strides in Europe, the Middle East, and North Africa (MENA), and we're committed to offering better services globally in a compliant manner.
5/ Whether you're a seasoned investor or just getting started, you can trust #Bitget to provide a safe and reliable platform for your crypto needs.
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My analysis on U.S. CPI release and the outlook for Fed's monetary policy:
1 The U.S. inflation (thru CPI) eases to 4.9% in April, marking the tenth straight decline and was lower than expected. This data is a positive reference for the decision to stop🚫raising interest rates.
2/ Specifically, airfare✈️, hotel accommodation🏨, and new car🚕 prices fell. While the cost of housing, the largest component (1/3) of the U.S. service sector, rose 0.4% last month, the lowest increase in more than a year.
3/ However, while consumer demand has moderated, wage growth is still very strong. The labor market is still overheated, and the Fed needs to see multiple months of declines to be convinced that price pressures are on a sustained downward trajectory.
Feel sorry to hear a series of bad news about FTX. Its decline inevitably has caused a huge impact on the whole industry, and I believe that users of FTX are most hurt by this crisis.
FTX’s glory in the past is also attributed to the excellent talents and contributors on the platform, incld. KOLs, KOCs and traders, who have suffered a lot in this chaos with huge loss of assets. We have prepared a 5 million USD “Builders' Fund” to help them with assistance.
We also want to deliver a message to the fearful market: Bitget and many other active builders are still working hard to cultivate the crypto world.