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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the last week. In this issue: El Salvador holds talks with the IMF despite its Bitcoin allegiance; Brazil greenlights the first Solana spot ETF; and Polymarket gets criticized for its decision on the Venezuelan presidential election bet. El Salvador […]
https://news.bitcoin.com/latam-insights-el-salvador-advances-talks-with-imf-despite-bitcoin-allegiance-brazil-passes-first-solana-spot-etf/
Turkey’s Capital Markets Board has issued an update on crypto asset service providers following new regulations. The provisional lists include 47 operational companies and three that are planning to liquidate. Current crypto service roviders are required to apply for permits or proceed with liquidation by specified deadlines, with legal repercussions for noncompliance. Turkey’s Capital Markets […]
https://news.bitcoin.com/47-companies-apply-to-operate-in-turkey-under-new-crypto-regulations/
Ripple’s chief legal officer has addressed the possibility of an appeal by the U.S. Securities and Exchange Commission (SEC) following the $125 million final judgment in the XRP case. He suggested that if the Biden-Harris administration is committed to resetting its stance on crypto, the securities regulator should not seek to appeal. He noted that […]
https://news.bitcoin.com/ripple-legal-chief-discusses-potential-sec-appeal-after-final-ruling-xrp-case/
On Sunday, bitcoin slipped below the $60,000 mark and dipped even further beneath the $59,000 range. The leading cryptocurrency touched an intraday low of $58,315, after previously hitting a high of $61,868 earlier in the day. Crypto Crash Course: Long Positions Take a Tumble in Sunday’s Wipeout Statistics show the broader crypto market saw a […]
https://news.bitcoin.com/bitcoin-slips-below-59k-as-crypto-market-faces-132m-in-liquidations/
Vega Protocol has launched its prediction market feature as part of the Colosseo II upgrade. This new development allows users to bet on future events using the Cosmos network infrastructure, offering both binary and non-binary settlement options. The upgrade also includes live game scoring for real-time updates and enhanced cross-chain capabilities. Vega’s prediction market aims […]
https://news.bitcoin.com/vega-protocol-launches-decentralized-prediction-market-with-colosseo-ii-upgrade/
CANTV, a Venezuelan state-owned ISP, has reportedly started blocking traffic to Binance, one of the largest cryptocurrency exchanges in the world. The company, which controls a significant portion of the Venezuelan broadband market, has left thousands of Venezuelans without access to their savings and even P2P markets, which are popular among those using crypto as […]
https://news.bitcoin.com/venezuelan-government-blocks-binance-cutting-p2p-market-access-for-thousands/
Crypto.com Senior Vice President Steve Humenik has joined Coinbase by voicing opposition to a proposed rule change by the Commodity Futures Trading Commission (CFTC) that could lead to the prohibition of prediction markets in the United States. In a letter to the CFTC, Humenik expressed concerns about the implications of the proposed regulation, urging the […]
https://news.bitcoin.com/crypto-com-opposes-proposed-us-ban-on-prediction-markets-and-event-contracts/
It’s been seven months—or precisely 223 days—since 2024 kicked off, and several digital currencies have experienced impressive gains. Leading the pack are two meme coins, BOME and MOG, which have skyrocketed by 11,931% and 3,733%, respectively, over this period. Crypto’s Year-to-Date Gainers and Losers In 2024, statistics reveal that several crypto assets have achieved impressive […]
https://news.bitcoin.com/2024-crypto-rollercoaster-bome-soars-11931-as-w-slides-84/
Robert Kiyosaki declared that the much-anticipated market crash has arrived, emphasizing the significant losses and highlighting it as an opportunity for investors to buy assets like gold, silver, and bitcoin at lower prices. The Democrats are engaging with the crypto sector, launching a “Crypto for Harris” initiative to garner support for Vice President Kamala Harris. […]
https://news.bitcoin.com/kiyosaki-on-market-crash-crypto-for-harris-and-more-week-in-review/
Speed, the company behind the Speed Wallet, has launched USDT-L, the first iteration of Tether, the largest stablecoin on the crypto market, on top of Bitcoin’s Lightning Network (LN). The wrapped token, which takes advantage of the “taproot assets” protocol recently rolled out by Lightning Labs, seeks to bring all the benefits of LN to […]
https://news.bitcoin.com/speed-launches-usdt-l-tethers-first-iteration-on-top-of-bitcoins-lightning-network/
A Nigerian bitcoin proponent has launched a lawsuit challenging government restrictions on owning, using, and trading digital assets. The proponent said the lawsuit seeks to remove the blockade on cryptocurrency exchanges, ensuring all Nigerians have unrestricted access. Crypto Restrictions Deny Residents Access to Inflation Hedging Tools Nigerian cryptocurrency advocate James Utudor filed a landmark lawsuit […]
https://news.bitcoin.com/nigerian-files-lawsuit-to-overturn-crypto-ban-seeks-btc-commodity-status/
The Commodity Futures Trading Commission paid a $1 million whistleblower award for information leading to an enforcement action in digital asset markets. CFTC Enforcement Director Ian McGinley said whistleblower tips are increasingly crucial as more Americans fall victim to digital asset scams. Digital Asset Cases Dominate CFTC Docket The Commodity Futures Trading Commission (CFTC) announced […]
https://news.bitcoin.com/cftc-pays-1m-to-whistleblower-in-digital-asset-case/
A professor at Cornell University’s Dyson School, Eswar Prasad, has raised concerns about the increasing risks in the cryptocurrency market, pointing to regulatory gaps and centralization as key issues. “If anything, crypto today presents even greater risks to its investors and to our financial institutions than it did before,” he said. Cornell Professor’s Crypto Warning […]
https://news.bitcoin.com/cornell-professor-warns-of-growing-crypto-risks-amid-misleading-promises-and-hype/
The U.S. Securities and Exchange Commission (SEC) has addressed District Judge Analisa Torres’ ruling in the Ripple case over XRP, emphasizing the substantial financial penalties imposed on the crypto firm and its ongoing securities law violations. While Ripple celebrated the 94% reduced fine, the regulator underscored that the court acknowledged Ripple’s securities violations. SEC Reacts […]
https://news.bitcoin.com/sec-addresses-final-court-ruling-in-ripple-case-highlights-key-outcomes/
JPMorgan Chase CEO Jamie Dimon reiterated his belief that a recession remains the most likely outcome for the U.S. economy. Dimon pointed to various uncertainties such as geopolitics, housing, and spending. Meanwhile, JPMorgan has raised the likelihood of a U.S. recession this year. Jamie Dimon Maintains Recession Likely for US Economy JPMorgan Chase CEO Jamie […]
https://news.bitcoin.com/jamie-dimon-says-us-recession-still-on-the-horizon-as-jpmorgan-increases-forecast/
Stablecoin issuer Tether has slammed the”baseless” claims that it illegally liquidated Celsius Network’s bitcoin collateral. Tether accused the crypto lender of trying to “improperly impose the costs of Celsius’ mismanagement and failure on Tether.” Shameless Litigation Stablecoin issuer Tether Holdings Ltd. has rejected the “baseless” claims by the bankrupt crypto lender Celsius Network that the […]
https://news.bitcoin.com/tether-slams-celsius-networks-baseless-2-billion-lawsuit/
President Putin has signed a new law aimed at establishing experimental frameworks for the use of cryptocurrencies in Russia's international trade. This move signals a significant shift in Russia's approach to digital currencies as it seeks to integrate them into its global trading systems.
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Russian President Vladimir Putin has signed a new law to establish experimental legal frameworks to advance digital technologies, particularly cryptocurrencies, in international trade. The legislation allows for the modification of laws to facilitate cryptocurrency transactions, including cross-border trade, and grants the Bank of Russia oversight of pilot projects related to digital currencies. Putin Signs Law […]
https://news.bitcoin.com/putin-signs-law-to-advance-cryptocurrency-use-in-russias-international-trade/
During the first week of August 2024, Bitcoin’s hashprice—a key metric that gauges the daily value of one petahash per second (PH/s) of hashpower—dipped to its lowest point in history, sliding below $38 per PH/s. In this fiercely competitive bitcoin mining arena, only the most resilient operations can thrive, with the best-performing machines bringing in […]
https://news.bitcoin.com/from-teraflux-to-antminer-exploring-the-top-asic-bitcoin-mining-rigs-on-the-market-today/
According to data from cryptoquant.com, bitcoin reserves on centralized exchanges have plummeted to a level not seen since Nov. 19, 2018. The amount of bitcoin held by these digital trading platforms has been steadily declining since early June 2022. Bitcoin Exchange Reserves Dip to 2018 Levels Over the past month, starting from July 11, 2024, […]
https://news.bitcoin.com/bitcoin-reserves-on-exchanges-hit-5-year-low-with-5-96b-withdrawn-in-30-days/
Bitcoin's mining difficulty is projected to decrease by 4% to 5.3% on August 14, marking a significant shift for miners. This change comes as part of the Bitcoin network's ongoing adjustments in response to hash rate fluctuations.
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Following the latest difficulty change 11 days ago when the metric increased by 10.5%, Bitcoin’s difficulty is estimated to shift downward between 4% to 5.3% on Aug. 14. Bitcoin’s All-Time High Difficulty Faces Estimated Reduction Bitcoin miners may get some relief in three days when the difficulty retarget shifts following the largest difficulty rise so […]
https://news.bitcoin.com/bitcoin-difficulty-reduction-incoming-miners-brace-for-a-major-shift-on-aug-14/
In the last 27 days, ether liquid staking derivatives have experienced an influx of 150,000 ETH, valued at $390 million, flowing into various protocols. Notably, since July 14, 100,000 ETH made its way to Lido, the world’s leading liquid staking platform by market share. Ethereum Liquid Staking Spikes to 13.59 Million Ether, Lido Nears 10 […]
https://news.bitcoin.com/150000-ether-floods-liquid-staking-platforms-in-27-days/
Stablecoin issuer Tether Holdings Ltd. recently announced a partnership with a crypto payments provider to advance blockchain education in South Africa. The collaboration aims to both demonstrate the benefits of stablecoin payments and build trust in digital financial solutions. Building Trust in Digital Financial Solutions Stablecoin issuer Tether Holdings Ltd. partnered with Xion Global to […]
https://news.bitcoin.com/tether-partners-with-crypto-firm-to-boost-blockchain-education-in-south-africa/
The U.S. Securities and Exchange Commission (SEC) has charged Ideanomics Inc. and three of its senior executives with fraud for misleading financial disclosures from 2017 to 2019. Former Chairman and CEO Zheng (Bruno) Wu, current CEO Alfred Poor, and former CFO Federico Tovar were implicated in overstating the company’s financial performance and failing to disclose […]
https://news.bitcoin.com/sec-cracks-down-on-ideanomics-for-fraud-in-misleading-crypto-and-revenue-disclosures/
Connecticut State Police (CSP), in collaboration with the Statewide Prosecution Bureau, said on Wednesday that they have successfully recovered over $63,500 for a victim of a cryptocurrency phishing scam. The incident, reported in April by a Cheshire resident, involved the loss of over $68,000 in cryptocurrency through a fraudulent scheme offering new tokens. Utilizing blockchain […]
https://news.bitcoin.com/connecticut-police-recover-63500-in-cryptocurrency-scam/
Seven individuals have reportedly been indicted on charges of grand larceny, money laundering, and identity theft for stealing $300,000 in bitcoin from a Queens auto body shop owner. The victim’s 5.75 BTC, originally valued at $92,000, was taken by 20-year-old Aaron Peterson Jr. in November 2022 and later used to purchase luxury items, including a […]
https://news.bitcoin.com/queens-bitcoin-heist-seven-charged-with-grand-larceny-and-money-laundering/
Elon Musk argues that inflation is predominantly caused by government overspending and excessive regulation. His comments highlight the critical connection between fiscal policy and economic stability.
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Elon Musk, CEO of Tesla and Spacex, has expressed his view that inflation is primarily driven by government overspending, which he emphasized as “the vast majority of the problem.” He also noted that excessive regulation worsens the situation, underscoring that the issue stems from the government, not the private sector. Elon Musk on Inflation, Government […]
https://news.bitcoin.com/elon-musk-how-government-overspending-and-excessive-regulation-fuel-inflation/
Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with electricity and prohibiting the promotion of cryptocurrencies. It also allows the circulation of mined cryptocurrency […]
https://news.bitcoin.com/putin-signs-law-to-regulate-crypto-mining-in-russia/