Bitcoin Rises on Softer Than Expected CPI; Circle Files to Shift Legal Base to the U.S.

Bitcoin climbs back on softer than expected CP I data and Circle wants to shift its legal base to the United States. You're watching Coin desk daily, I'm your host, Jen Sani Bitcoin is warming up as us inflation data came in softer than expected. The consumer price index rose 0.3% in the month of April slightly below the economists forecast of 0.4% on a year over year basis. CP I was higher by 3.4% in line with expectations. And as of 10:50 a.m. eastern time, Bitcoin is trading at just about $64,000. A little bump on that data up around 5% stable coin where Circle has filed to relocate its legal base to the United States ahead of planning an initial public offering in the country. That's according to a report from Bloomberg. The company is currently domiciled in the Republic of Ireland but Circle filed to list shares publicly with the SEC in January of this year. Circle's US DC is the second largest stablecoin across the crypto market and H be Hong Kong has once again withdrawn its application for a virtual asset trading license. That's according to the Securities and Futures Commission, Hong Kong SFC did not specify why the application was withdrawn. But the agency stated that platforms that failed to submit a license, Apple must shut down by May 31st crypto exchanges including OK, X crypto.com and Bullish are currently having their licenses reviewed by the SFC. Bullish is the owner of Coin Desk. That's it for coin desk daily. Get more updates on coindesk.com and we'll see you next time.