Kalam Crypto #79: BTC Price Reaches All-Time High & The ETH Flippening!

“Always remember that to argue, and win, is to break down the reality of the person you are arguing against. It is painful to lose your reality, so be kind, even if you are right.” Haruki Murakami

Eid Mubarak, and welcome to the 79th edition of CoinMENA's weekly newsletter, Kalam Crypto. Hope you enjoyed your Eid Holiday break! This week, Bitcoin reaches a new all-time high in Lebanon and Argentina, Hong Kong opened Bitcoin and Ether ETF trading, Staked ETH reached a new milestone, and Microstrategy buys more bitcoin! All that and more, so let's dive into this week's letter, and talk crypto:

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Global News 🌍

Bitcoin Price Reaches All-Time High: The BTC conversion rate in Lebanon and Argentina is at an all-time high. The current inflation rate in Lebanon and Argentina is currently 260% and 114% respectively. Imagine your life’s work and savings eroding at this rate due to circumstances you cannot control! Bitcoin fixes this. 

Hong Kong Allows Bitcoin & Ethereum ETF Trading: HSBC Hong Kong now allows customers to trade bitcoin and ether exchange-traded funds (ETFs) listed on the Hong Kong stock exchange. This makes HSBC the first bank in Hong Kong to offer trading in crypto ETFs. The move comes as Hong Kong introduces a new licensing regime for crypto platforms to attract more crypto companies, while the Hong Kong Monetary Authority (HKMA) is reportedly urging HSBC, Standard Chartered, and Bank of China to accept crypto exchanges as clients. 

Keep an eye on 👀

ETH Flippening: Not the flippening Ethereans are waiting for, but a significant one nonetheless. Staked ETH continues to rise and has now overtaken ETH on centralized exchanges. 

FacePalm of the Week 🤦‍♂️

FTX, potentially the worst fraud in U.S. corporate history, plans to relaunch its international exchange under new leadership. The team aims to improve outcomes for creditors and increase the value of their FTT token. While targeting non-Americans, FTX may still face legal consequences if the SEC deems their traded assets unregistered U.S. securities.

Tweet Of The Week 🐥

CoinMENA News 🗞

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Quiz Corner ✅ 

Last week’s question:  Which cryptocurrency cannot be staked?

Answer: Bitcoin

This week’s question: Which token was created to be the “Dogecoin-Killer”?

A. Shiba-Inu ($SHIB)

B. UFO Gaming ($UFO)

C. Bitcoin ($BTC)

See the answer in next week’s newsletter. Or check out our new learning platform https://university.coinmena.com/