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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
On Aug. 15, 2024, the white paper for BitVM2 was published, outlining significant advancements in Bitcoin’s layer two (L2) capabilities. Building on the foundation laid by BitVM version 1, BitVM2 aims to bridge Bitcoin to second layers with improved scalability and security. New BitVM2 White Paper Introduces Advanced Solutions for Bitcoin L2 Scaling The original […]
https://news.bitcoin.com/bitvm-version-2-introduces-new-era-for-bitcoin-l2-scaling-solutions/
UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to wait […]
https://news.bitcoin.com/ubs-urges-caution-despite-positive-us-economic-data/
Right now, the market is leaning towards the U.S. Federal Reserve lowering the benchmark interest rate at the Sept. 18, 2024, Federal Open Market Committee (FOMC) meeting. The CME Fedwatch tool currently indicates a 75% likelihood of a 25-basis-point (bps) rate cut. Over on Polymarket, bettors are even more confident, showing an 82% chance of […]
https://news.bitcoin.com/fedwatch-tool-and-polymarket-indicate-strong-odds-for-september-rate-cut/
Polymarket, the leading blockchain-powered predictions platform, saw its highest monthly volume to date in July. However, August has so far captured just over 68% of July’s total volume, with 13 days still remaining in the month. Polymarket’s August Performance Signals Potential for Record-Breaking Month According to data from theblock.co, August is shaping up to be […]
https://news.bitcoin.com/polymarket-open-interest-rebounds-as-august-set-to-challenge-julys-record/
The stablecoin market has been picking up speed lately, and between Aug. 9 and Aug. 18, 2024, it expanded by $2.21 billion. During this period, Tether’s supply ballooned by an additional 1.26 billion USDT. Stablecoin Boom: $2.21B Growth Driven by Tether and PYUSD Between Aug. 9 and Aug. 18, 2024, the stablecoin economy expanded by […]
https://news.bitcoin.com/stablecoin-market-expands-2-21b-uptick-in-8-days-fueled-by-tethers-growth-spurt/
PRESS RELEASE. Singapore, August 18th, 2024 – In the rapidly evolving cryptocurrency industry, LBank has established itself as a key player. Over the past nine years, LBank has achieved numerous milestones and has grown into a comprehensive crypto trading platform and a leading exchange in innovative crypto asset categories. As LBank commemorates its ninth year […]
https://news.bitcoin.com/lbank-celebrates-9th-anniversary-with-over-1000000-in-prizes/
X’s Global Government Affairs Team reported on August 17 that the social network would be forced to shut down its local operations in Brazil due to judicial orders issued against its legal representative. The order, issued by Alexandre de Moraes, a member of the Supreme Federal Tribunal, would have this legal representative facing jail time […]
https://news.bitcoin.com/x-ceases-operations-in-brazil-after-refusing-to-comply-with-censorship-orders/
According to Luke Paglia, the COO at AGMI Studios, while traditional non-fungible token (NFT) art has lacked real utility, which explains its declining popularity, NFTs still have an important role to play in the gaming industry. To back this assertion, Paglia cites game developers’ use of NFTs “to innovate and bring new forms of value […]
https://news.bitcoin.com/nfts-enrich-gaming-communities-drive-stronger-engagement-says-gaming-veteran/
Mastercard, the American multinational financial giant, recently revealed it has partnered with the fintech firm Scale to accelerate the deployment of fintech firms in Africa and the Middle East. Amnah Ajmal praised the partnership with Scale, saying it moves her organization closer to its goal of narrowing the digital gap. Narrowing the Digital Gap The […]
https://news.bitcoin.com/mastercard-and-scale-partner-to-accelerate-fintech-deployment-in-africa/
Ripple’s chief legal officer says he wouldn’t be surprised if the U.S. Securities and Exchange Commission (SEC) does appeal the final ruling in the Ripple lawsuit over XRP. He questioned the SEC’s rationality and expressed confidence that any appeal by the SEC would likely fail. Alderoty urged the SEC to focus on its core mission […]
https://news.bitcoin.com/ripple-legal-chief-anticipates-possible-sec-appeal-in-xrp-case-despite-courts-10-reversal-rate/
Rich Dad Poor Dad author Robert Kiyosaki has explained why he is preparing for a crash landing. He criticized U.S. leadership, including Vice President Kamala Harris, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell, calling them “3-Stooges.” Kiyosaki advised his followers to invest in gold, silver, and bitcoin, emphasizing self-reliance over relying on the […]
https://news.bitcoin.com/robert-kiyosaki-advises-preparing-for-crash-landing-says-time-to-save-yourself/
Inflation is not a natural phenomenon but a consequence of government actions. Milton Friedman famously argued that only the government can create inflation, and misguided policies, like price controls, worsen the problem. Friedman Famously Said: ‘Inflation Is Made by Government and No One Else’ Milton Friedman, a leading figure in economics, repeatedly emphasized that inflation […]
https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/
Bitdeer Technologies Group has set the stage for a $150 million convertible notes offering, featuring an annual interest rate of 8.5%. The deal is scheduled to wrap up on Aug. 20, 2024. This move aligns with a broader trend in the bitcoin mining sector, where firms have collectively secured $2.1 billion through stock offerings since […]
https://news.bitcoin.com/bitcoin-miner-bitdeer-unveils-150m-convertible-notes-offering-with-8-5-yield/
The Holonym Foundation has secured $5.5 million in seed funding to revolutionize digital identity security for the decentralized web. This initiative aims to establish a new standard of global digital personhood while enhancing individual privacy and control over personal data.
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PRESS RELEASE. 17th August, 2024: Holonym Foundation, an organization building the next generation of digital identity security for the decentralized web, is announcing the completion of a successful $5.5 million seed funding round. The funding round was led by Finality Capital and Paper Ventures, with significant participation from Draper Dragon, Arrington Capital, Lightshift, Zero Knowledge […]
https://news.bitcoin.com/holonym-foundation-emerges-with-5-5-million-seed-funding-to-provide-global-digital-personhood-with-human-keys/
In a twist of political fortunes, Vice President Kamala Harris, who had been leading in the race against former President Donald Trump for the 2024 election, saw her odds dip significantly after rolling out her economic plans. Over the past 72 hours on Polymarket, her chances have taken a hit, dropping four percentage points, while […]
https://news.bitcoin.com/bets-on-harris-slide-in-predictions-market-after-her-price-controls-plan-sparks-controversy/
Meme coins have seen a significant decline, with $20 billion wiped from the market since May, as interest in these cryptocurrencies diminishes. Google Trends data reflects this shift, showing a drop in the search term "meme coins" from a peak score of 100 in March to just 22 today.
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During the first half of 2024, meme coins took the spotlight, captivating the crypto world with their quirky charm. However, the hype appears to be cooling off as we move into the latter part of the year. According to Google Trends, searches for “meme coins” have significantly decreased, and since May 21, the meme token […]
https://news.bitcoin.com/meme-coins-lose-steam-20-billion-wiped-from-market-since-may/
While Bitcoin’s hashprice has been languishing below $44 per petahash per second (PH/s) each day, the network’s hashrate is beginning to climb once more. Between Aug. 9 and Aug. 17, the hashrate increased from 612 exahash per second (EH/s) to 637 EH/s, adding 25 EH/s over eight days. Miners Increase Bitcoin’s Hashrate After Difficulty Decline […]
https://news.bitcoin.com/hashrate-climbs-25-eh-s-in-8-days-as-bitcoin-miners-adjust-to-network-difficulty-reduction/
Goldman Sachs disclosed substantial holdings of $418 million in bitcoin ETFs in Q2. Hamster Kombat rejected multiple venture capital investments to protect players from becoming exit liquidity. A Nigerian bitcoin proponent filed a lawsuit to overturn the government’s crypto ban. WBTC’s custody change has raised concerns in the defi community. Ripple’s legal chief discussed the […]
https://news.bitcoin.com/goldman-sachs-bitcoin-etf-holdings-hamster-kombat-rejected-vcs-and-more-week-in-review/
Although the blockchain industry owes much of its success to so-called bridges, these are far from perfect solutions, argues Justin Wang, the founder and CEO of Zeus Network. While they help address the problem of liquidity segmentation that afflicts the Web3 industry, Wang insists that they pose significant security risks. Keeping the Innovation Flywheel Spinning […]
https://news.bitcoin.com/innovation-in-crypto-moves-faster-than-governments-needs-self-regulation-says-serial-innovator/
A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing that portrayed the Play Store as a secure […]
https://news.bitcoin.com/google-faces-lawsuit-after-5m-in-crypto-stolen-via-play-store-app/
Lemon, an Argentina-based cryptocurrency exchange and wallet, has received a license to allow fiat-crypto interactions in Peru. The exchange, the first to receive such a license in the country, now eases the processes required to deposit and exchange fiat for crypto, with users only needing a phone number for this task. Lemon Receives First Fiat-Crypto […]
https://news.bitcoin.com/lemon-pioneers-fiat-crypto-interoperability-services-in-peru/
A Gujarat-based man, Shailesh Babulal Bhatt, was arrested under the anti-money laundering law in connection with kidnapping and extortion cases, including a significant cryptocurrency-related crime exceeding Rs 1,200 crore ($144 million), according to the Enforcement Directorate (ED). Bhatt was taken into custody following a money-laundering probe initiated by the ED based on FIRs filed by […]
https://news.bitcoin.com/indian-authority-arrests-man-in-crypto-extortion-case/
Skepticism about the digital euro is strong in Germany, especially among older citizens who prioritize privacy and security in financial transactions. Many Germans remain resistant to the idea of a digital currency, with about half unable to imagine using it. Bundesbank President Joachim Nagel has called cash “sacred” in Germany, reflecting deep-rooted concerns about losing […]
https://news.bitcoin.com/privacy-fears-undermine-support-for-digital-euro-in-germany/
Economist and gold advocate Peter Schiff has recommended that the Federal Reserve raise interest rates instead of cutting them, even if it leads to a market crash. He acknowledged that this approach would likely cause stocks and real estate to crash, result in a hard landing, and trigger a recession, emphasizing the potential severity of […]
https://news.bitcoin.com/peter-schiff-urges-the-fed-to-raise-rates-and-let-markets-crash/
Favorable economic data this week bolstered market confidence, leading to a strong rally in equities, JPMorgan explained in a report published on Friday. With the Federal Reserve now likely to cut interest rates in September, the global investment bank advises investors to prepare by adjusting their portfolios accordingly. The futures market predicts a 100% chance […]
https://news.bitcoin.com/jpmorgan-prepares-investors-for-september-rate-cut-with-dual-investment-approach/
Eric Trump, son of former President Donald Trump, recently shed some light on the mysterious crypto project that he and his brother, Donald Trump Jr., have been hinting at. In an exclusive interview with the New York Post, Trump revealed that the project revolves around “digital real estate.” He emphasized that this venture is “equitable” […]
https://news.bitcoin.com/eric-trump-interview-teases-digital-real-estate-crypto-venture/
Gold has been on an impressive streak in recent times, hinting at underlying economic worries, according to bitcoin proponent Fred Krueger’s latest analysis. He speculates that bitcoin might soon follow a similar trajectory, fueled by broader financial factors. Jack Mallers, the founder of Strike, shares this sentiment, asserting that “bitcoin is the best expression of […]
https://news.bitcoin.com/golds-bull-run-inspires-bitcoin-forecasts-insights-from-fred-krueger-and-jack-mallers/
Recent data from U.S.-based bitcoin and ethereum spot exchange-traded funds (ETFs) collected by sosovalue.xyz reveal a mixed bag for these popular assets. On Friday, bitcoin ETFs added around $36 million, while ethereum funds experienced a $15 million dip. Mixed Results for Crypto ETFs: Bitcoin Gains $36M, Ethereum Drops $15M Ether ETFs, in particular, saw further […]
https://news.bitcoin.com/bitcoin-etfs-see-36m-inflows-as-ethereum-funds-shed-15m/