Crypto News, 8 March: Traders Eyes on Non-Farm Payrolls Data

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Crypto News Key Highlights:

• Conflux Network collaborates with AnchorX to launch Hong Kong’s inaugural HKD-backed stablecoin, axHKD. The partnership leverages Conflux's blockchain for compliance and scalability and OKLink Trust for custody services. Backed by top financial institutions like Hony Capital, axHKD aims to facilitate cross-border transactions and innovate in the digital asset space.

• Despite Grayscale's outflow, the U.S. Spot Bitcoin ETF market thrives, amassing 175,000 BTC since inception. Fidelity FBTC saw a record inflow, while BlackRock's cooled, intriguing investors. The surge reflects relentless demand for Bitcoin investment instruments, reinforcing bullish sentiment and confidence in digital assets.

• Solana's Anatoly Yakovenko lauds Coinbase CEO Brian Armstrong's bold hiring policy requiring CEO/COO approval for hires, aimed at enhancing talent density. Yakovenko emphasizes active CEO involvement, reinforcing the importance of strong leadership in shaping organizational culture. Coinbase's focus on quality talent acquisition garners industry recognition and fosters innovation.

• Nissan Motor Co. introduces "Heritage Cars & Safe Drive Studio," a metaverse experience blending historical cars with safety education. Featuring iconic models like the Silvia Q’s S13 and Skyline 2000GTX-E, users engage in interactive exhibits on driver safety and automotive history. Developed in collaboration with Japanese university researchers, accessible on Meta Quest.

• Floki , a community-based crypto ecosystem, offers products like Metaverse, DeFi, education, and NFTs. It boasts a community of 470,000 Floki Vikings aiming to make it a top crypto globally. Beyond profit, it supports charity projects like building schools. Its utility token, $FLOKI, facilitates secure transactions within the ecosystem.

• U.S. job growth likely slowed in February, but the labor market remains strong, with the unemployment rate expected to stay at 3.7%. Despite Fed Chair Powell's suggestion of potential rate cuts, economists anticipate the Fed will wait, given ongoing economic resilience. February's expected job increase of 200,000 reflects a steady labor market.

• Binance, a leading crypto exchange, is set to launch XRP USDT options on March 11, 2024, amidst rising interest in XRP. This move aims to diversify trading choices and improve user experience. With European-style options, Binance empowers traders with flexibility, liquidity, and competitive pricing, aligning with its commitment to innovation.

• SEC charges ShapeShift for alleged regulatory violations , sparking debate on crypto regulation. Commissioners urge clarity, fearing confusion. Collaboration suggested to refine rules, with regulatory sandboxes and SROs as avenues for innovation. Industry efforts include associations, codes of conduct, and partnerships. Regulators advised to engage with experts for informed decision-making.

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