Chinese ride-hail company Didi filed for an initial public offering on Thursday.Why it matters: Didi is not only known as the Uber of China, but actually beat Uber in the country and bought out its business there.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeUber currently has a 12.8% stake in Didi, making it the company's second-largest outside shareholder.Other major backers include SoftBank (21.5%) and Tencent (6.8%).Financials: Didi repor
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Many of the most enthusiastic crypto bulls see big things ahead for Ethereum. Currently the biggest digital coin after Bitcoin, Ether’s price currently stands at $2,580.96. Some analysts forecast the price could rise as high as $5,000 within the next year. And some see the digital coin’s price reaching $20,000 by 2025. Some people go so far as to say that Ethereum will eventually supplant Bitcoin as the world’s most valuable and important cryptocurrency.
The enthusiasm for Ether is based on the fact that the digital coin’s algorithm is the main one used in both decentralized finance (DeFi). In other words, it’s a blockchain-based form of finance that does not rely on brokerages, exchanges or banks to offer traditional financial instruments, and non-fungible tokens, the digital art that has skyrocketed in popularity this year. Ethereum’s rally year to date has outpaced Bitcoin’s, with Ether rising more than 1,000% compared to Bitcoin’s 300% incre
US SEC Chairman Calls for Crypto Exchange Regulations & Higher Investor Protection
5 hours ago by Bhushan Akolkar · 3 min read
Photo: Securities and Exchange Commission / Flickr Share this article
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Gary Gensler stated that investors on crypto exchanges should get similar protection as that offered to investors at the New York Stock Exchange. He also noted that the SEC is financially under-resourced when compared to the big-tech players.
On Thursday, May 27, Gary Gensler, the newly appointed chairman of the US SEC called for the need to regulate the crypto exchanges. He also stressed the need for higher investor protection by increasing the oversight of crypto exchanges.