ADVFN UK Market News

Category: Cryptocurrency

  • Bitcoin retreats toward $70K as Iran conflict rattles markets, but weekly gain still likely

    Bitcoin retreats toward $70K as Iran conflict rattles markets, but weekly gain still likely

    Bitcoin (COIN:BTCUSD) moved lower during Asian trading on Friday, though it continued to hold above the important $70,000 level as investors remained wary amid escalating tensions in the Middle East. Rising oil prices tied to the conflict have added fresh uncertainty around global inflation prospects and the outlook for interest rates.

    The world’s largest cryptocurrency by market capitalization fell 3.1% to $70,182.6 at 00:56 ET (05:56 GMT). Earlier in the week, the token briefly climbed above $74,000, keeping it on course for a weekly advance of roughly 7%.

    Iran conflict and oil rally dominate market focus

    Sentiment across crypto markets remained cautious as geopolitical tensions intensified after U.S. and Israeli strikes on Iran prompted retaliatory missile and drone attacks across the region. The confrontation has now entered its seventh day.

    The situation has also raised concerns about shipping routes through the Strait of Hormuz, a critical global energy passage that normally carries around 20% of the world’s oil supply. The potential for disruption has sent ripples across commodity markets.

    Crude prices have climbed sharply since the escalation began, rising more than 16% this week as traders worry that prolonged hostilities could disrupt global oil flows.

    The surge in energy prices has reignited fears of another wave of global inflation, complicating the outlook for central bank policy. Investors have begun to dial back expectations that the U.S. Federal Reserve will cut interest rates soon, as higher energy costs could keep inflation elevated.

    Those shifting rate expectations helped lift the U.S. dollar during the week, placing pressure on several risk-sensitive assets. The stronger dollar also weighed on commodities broadly, with gold on track for a weekly decline despite the heightened geopolitical backdrop.

    Even so, bitcoin has shown relative strength by remaining above the psychologically significant $70,000 level.

    Altcoins follow bitcoin lower

    Most alternative cryptocurrencies also declined on Friday as investors adopted a more cautious stance.

    Ethereum, the second-largest cryptocurrency, dropped 3% to $2,069.03.

    XRP, the third-largest digital asset, slid 1.8% to $1.39.

    Solana fell 1.6%, while Cardano and Polygon each lost around 2.5%.

    Among meme-based tokens, Dogecoin declined 1.8%.

  • sundae_bar Plc (LSE:SBAR) is a London-listed company building an enterprise platform that gives businesses a single access point to rent and deploy AI-powered workforce automation.

    sundae_bar Plc (LSE:SBAR) is a London-listed company building an enterprise platform that gives businesses a single access point to rent and deploy AI-powered workforce automation.

    Organisations purchase and integrate the company’s AI products designed to streamline real operational workflows directly through sundaebar.ai.

    At the core of this platform is Subnet 121, a decentralized training ground built on the Bittensor network. Instead of relying on a closed internal team, sundae_bar(LSE:SBAR) plans to build a generalist agent – one capable of autonomously understanding, executing, and improving the workflows businesses rely on. They are doing this by opening development to Bittensor’s global community. Developers compete to build agents that are validated against structured, real-world scenarios using objective, auditable benchmarks. The strongest submissions are rewarded, and their improvements are incorporated into a continuously evolving agent architecture.

    This represents a major shift in how AI is developed, it is at the heart of Bittensor’s ethos, and one sundae_bar is betting on driving better results. Traditional AI is built in isolation by centralized companies. Bittensor consolidates efforts. In the case of sundae_bar, Subnet 121 channels that effort toward a single improving generalist agent, creating resource concentration instead of fragmented progress. Each winning improvement contributes to the core agent.

    Including sundae_bar currently there are 128 Bittensor subnets, many which already demonstrate how decentralized competition can produce real advancements in digital intelligence. Ridges (SN62) applies this model to software engineering: developers build autonomous coding agents that can read, modify, and ship real code end-to-end, showing how quickly capabilities can advance when many contributors iterate on the same benchmark. Synth (SN50) shows similar dynamics in financial forecasting, where quants compete to generate accurate probabilistic price paths used in real trading applications. Supporting much of the ecosystem is Chutes, a decentralized serverless inference layer that provides the scalable compute backbone used by many agent-producing subnets. 

    Many believe that Bittensors approach offers a structural advantage: decentralized iteration velocity. Because multiple independent builders compete on the same evaluation suite, digital products can improve faster than any single closed-door company could achieve alone. Objective scoring ensures that only genuine capability gains advance, reducing hype and emphasizing measurable performance.

    In short:

    • sundae_bar builds its own generalist commercial agent using decentralized competition on Bittensor.
    • Subnet 121 serves as the open R&D engine, converting Bittensor’s global developer effort into a single, continuously improving agent.
    • The best-performing version is deployed directly to businesses through sundaebar.ai.

    This Bittensor-native model mirrors the successful enterprise strategy of companies like Mistral – strong model capability, packaged for real deployments, but replaces closed-door training with an open, decentralized, economically aligned engine.

  • Webull Relaunches Crypto Trading in the U.S

    Webull Relaunches Crypto Trading in the U.S

    Webull (NASDAQ:BULL), the fast-growing digital investment platform, has officially resumed cryptocurrency trading for its U.S. clients, marking a major milestone in its post-IPO evolution. The move comes after a two-year pause initiated during the company’s IPO preparations and regulatory restructuring. Now, with over 50 digital assets available and a fully integrated trading experience, Webull is positioning itself as a formidable player in the global crypto market.

    A Unified Platform for Modern Investors

    Previously, Webull users had to access crypto trading through a separate app; Webull Pay. With the latest update, crypto trading is now fully integrated into the main Webull app, allowing users to manage stocks, options, ETFs, and digital assets all in one place 

    This reintegration simplifies the user experience and reflects Webull’s broader mission to offer a seamless, all-in-one investment platform.

    “By reintegrating crypto trading into the Webull app, we are making it easier for customers to access and manage their entire portfolio,” said Anthony Denier, U.S. CEO and Group President at Webull 

    What’s New for U.S. Users?

    Webull now supports 24/7 trading of over 50 cryptocurrencies, including major tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) 

    The platform offers:

    • Real-time charts and technical indicators
    • Custom price alerts
    • Institutional-grade security
    • No custody fees
    • Minimum trade size as low as $1

    The crypto services are provided through Webull Pay LLC, a licensed money transmitter, with custody solutions supported by Bakkt Crypto Solutions 

    Regulatory Readiness and Market Timing

    Webull’s decision to pause crypto trading in 2023 was largely driven by its IPO ambitions and the need to align with evolving U.S. regulatory standards. The company officially went public on NASDAQ (Ticker: BULL) in April 2025 

    With improved regulatory clarity and a more favorable political climate in Washington, Webull has now re-entered the crypto space with renewed confidence 

    “This move signals our readiness to comply with U.S. regulations and our commitment to offering secure, compliant digital asset services,” said Denier.

    Global Expansion and Competitive Positioning

    Webull’s crypto relaunch is not limited to the U.S. The company has already rolled out crypto trading in Brazil and plans to expand into additional markets in the coming months 

    With over 24 million users globally, Webull is aiming to challenge established players like Robinhood and Coinbase by offering a unified platform for both traditional and digital assets 

    About Webull

    Founded in 2016 by Wang Anquan, Webull has grown into a global fintech powerhouse. Headquartered in St. Petersburg, Florida, the company offers commission-free trading of stocks, ETFs, options, and cryptocurrencies through its mobile and desktop platforms 

    Key facts:

    • Employees: ~1,100
    • IPO Date: April 2025
    • Market Cap: $7.7 billion
    • Revenue Streams: Payment for order flow, margin lending, crypto trading, premium subscriptions.

    Webull is registered with the SEC, FINRA, CFTC, and is a member of SIPC and NFA, ensuring compliance across its brokerage and crypto operations

  • Hamak Gold Dives into Digital Assets with £1.77M Bitcoin Purchase and Archax Partnership

    Hamak Gold Dives into Digital Assets with £1.77M Bitcoin Purchase and Archax Partnership

    In a bold pivot toward digital finance, Hamak Gold Limited (LSE: HAMA) has announced the acquisition of 20 Bitcoin, marking its first investment in digital assets. The move, valued at £1.77 million, is part of a broader treasury strategy aimed at diversifying the company’s balance sheet and enhancing shareholder value.

    The Bitcoin purchase, made at an average price of £88,569 per coin, signals a strategic shift for the junior gold exploration company, which is primarily focused on African mining projects. Hamak Gold is now positioning itself as a hybrid player in the resource sector—combining traditional gold assets with the disruptive potential of digital currencies.

    Strategic Alliance with Archax

    To support this new direction, Hamak Gold has entered into a partnership with Archax, the UK’s first FCA-regulated digital asset exchange, broker, and custodian. Archax will provide secure custody and trading infrastructure for Hamak’s Bitcoin holdings, ensuring regulatory compliance and institutional-grade asset management.

    “We are pleased to be delivering on the initial plan we announced to the market just a few weeks ago,” said Nick Thurlow, Executive Chairman of Hamak Gold. “We’re excited to partner with Archax, the premier UK-regulated crypto trading and custody firm.”

    Archax CEO Graham Rodford welcomed the collaboration, noting the complementary nature of Bitcoin and gold as stores of value. “Bitcoin’s fixed supply of 21 million units is often cited as a distinguishing feature by market participants seeking alternatives to inflation-prone fiat currencies—complementing gold’s long-standing role,” he said.

    A New Model for Junior Miners?

    Hamak Gold’s dual-asset strategy is a rare move in the junior mining space, where companies typically focus on physical commodities. By integrating Bitcoin into its treasury, the company aims to create a low-correlation hedge against traditional equity market cycles, while tapping into long-term digital asset trends.

    The initiative is part of a broader treasury framework that includes strategic reserves, liquidity tools, and non-dilutive value protection mechanisms. The company also hinted at upcoming high-level appointments to bolster its digital asset expertise.

    About the Companies

    Hamak Gold Limited is a UK-listed gold exploration firm with operations in Africa. Through its listing on the London Stock Exchange, it offers investors exposure to both traditional mining and digital asset strategies.

    Archax, based in London, is a fully regulated digital asset platform catering to institutional investors. It offers services across the digital asset lifecycle—from token issuance and fundraising to trading and custody.