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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Coinshares, a digital asset investment firm, has reported a significant $528 million outflow from its crypto products last week, driven by growing recession fears. This substantial withdrawal reflects the heightened market uncertainty and investor caution amid economic downturn concerns. Despite this setback, Coinshares remains committed to its long-term strategy and continues to expand its operations […]
https://news.bitcoin.com/coinshares-sees-528-million-outflow-from-crypto-products-due-to-recession-fears/
A recent report by Coinwire, a cryptocurrency research portal, predicts that cryptocurrency adoption levels in Latam will more than double in 2024. The report, which examined trading movements on trusted centralized exchanges according to Coingecko, forecasts that crypto trading volumes in the region will reach $7.82 trillion in 2024, with Brazil and Chile being the […]
https://news.bitcoin.com/coinwire-report-latam-to-more-than-double-its-crypto-trading-levels-this-year/
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking participation. These companies aim to facilitate transactions through the e-rupee. The initiative aims to boost transaction volumes by […]
https://news.bitcoin.com/google-pay-amazon-pay-walmart-backed-phonepe-eye-entry-into-rbis-digital-rupee-program/
Jeremy Siegel, a finance professor and chief economist, has called for an emergency 75 basis point cut in the fed funds rate following a market downturn. He emphasized the necessity of this cut and suggested another rate cut next month to align with the Federal Reserve’s targets on inflation and employment. Siegel warned that failing […]
https://news.bitcoin.com/wharton-professor-calls-for-emergency-rate-cut-following-market-downturn/
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with Russia using crypto, and how this might encourage other nations to do the same. El Salvador Might Start […]
https://news.bitcoin.com/latam-insights-encore-el-salvadors-proposal-opens-the-door-for-crypto-based-international-settlements/
The trillion-dollar coin, an idea that surged as a solution to raising the U.S. debt ceiling on more than one occasion, was recently revealed to have been considered by the government several times. Memos obtained via FOIA requests by journalist Jason Leopold show that, even though it was considered outrageous by some, it was seriously […]
https://news.bitcoin.com/feasibility-of-trillion-dollar-platinum-coin-discussed-by-us-government-foia-documents-show/
Global investment bank Goldman Sachs has increased the likelihood of a U.S. recession within the next year to 25% from the previous 15%, although they maintain that the risk remains limited. Despite the recent rise in unemployment to its highest in nearly three years and a significant slowdown in hiring, Goldman economists, led by Jan […]
https://news.bitcoin.com/goldman-sachs-raises-us-recession-risk-to-25/
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market,” said the CEO of […]
https://news.bitcoin.com/xapo-bank-enters-uk-market-offers-interest-bearing-usd-and-bitcoin-account/
The narrowing Japanese “yen carry trade” has been blamed for the Aug. 5 global market downturn that sent stock markets and top cryptocurrencies like bitcoin and ethereum plunging by double-digit figures. Some experts cite the disappointing U.S. jobs data and Mt Gox-related selling as factors contributing to the decline. Nikkei Posts Worst Single-Day Loss In […]
https://news.bitcoin.com/yen-carry-trade-blamed-for-global-market-rout-jump-cryptos-eth-sale-worsens-ether-plunge/
Presently, the cryptocurrency market is experiencing a significant downturn, with bitcoin dropping 24% this week and ethereum shedding 30% against the U.S. dollar. While these losses are notable, some digital currencies have fared even worse, with only a handful managing to buck the trend. Dozens of Crypto Coins See Percentage Losses, A Few Tumble 50% […]
https://news.bitcoin.com/double-digit-crypto-losses-sweep-the-market-over-60-coins-in-freefall/
More than 2,000 compromised cryptocurrency wallets belonging to Australians were recently uncovered during a global operation targeting cryptocurrency scammers. The Australian Federal Police is reportedly investigating Australian losses identified in “Operation Spincaster” and gathering intelligence on scammer tactics. Gathering Intelligence on Scammer Tactics The Australian Federal Police (AFP) recently discovered more than 2,000 compromised cryptocurrency […]
https://news.bitcoin.com/australia-flags-over-2000-compromised-crypto-wallets/
On August 5, 2024, ethereum’s price action has been dominated by strong bearish sentiment across multiple timeframes. While short-term consolidation suggests some indecision, the overall market indicators point towards continued downward pressure. With critical support levels approaching, traders should exercise caution as the market searches for stability. Ethereum Ethereum’s price is facing significant downward pressure […]
https://news.bitcoin.com/ethereum-technical-analysis-eth-faces-bearish-momentum-with-potential-for-short-term-recovery/
Argo Blockchain PLC has today released its July 2024 operational update, reporting the mining of 48 BTC, maintaining an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining margin in the mid-20% range, slightly lower than the previous month due to a lower […]
https://news.bitcoin.com/bitcoin-miner-argo-blockchain-reports-steady-performance-in-july-2024/
Africa-focused technology and data services firm Cassava Technologies has created a separate business unit to oversee its artificial intelligence (AI) operations. The AI unit will offer data center, cloud, cybersecurity, fiber connectivity, and renewable energy services. Helping Clients Adopt Generative AI Pan-African technology firm Cassava Technologies is creating a separate business unit to focus on […]
https://news.bitcoin.com/pan-african-tech-firm-cassava-technologies-launches-ai-unit/
At the end of the week, U.S. equities experienced a sharp decline, which reverberated through the cryptocurrency market, reducing its value from $2.4 trillion to $2.09 trillion since July 29. Recently, discussions have intensified around the likelihood of an impending U.S. recession, with a soft landing seemingly off the table. Below are six distinct indicators […]
https://news.bitcoin.com/6-indicators-of-economic-trouble-is-a-us-recession-on-the-horizon/
Climate scientists in East Africa are integrating artificial intelligence (AI) into traditional weather forecasting methods to enhance the accuracy of extreme weather predictions. The region faces increasing frequency and severity of extreme weather events due to climate change. By combining AI with physical atmospheric processes, researchers have developed a hybrid modeling approach that provides more […]
https://news.bitcoin.com/east-african-scientists-use-ai-for-accurate-extreme-weather-forecasts/
Following the recent volatility in global equity markets, some analysts suggest that the U.S. Federal Reserve might implement an emergency rate cut before September. In addition, market predictions are leaning toward a rate cut at the September Federal Open Market Committee (FOMC) meeting. The key question is the extent of this cut. According to CME’s […]
https://news.bitcoin.com/fedwatch-tool-and-polymarket-point-to-highly-probable-rate-cuts-by-the-fed/
The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This regulation mandates prior authorization for market participants offering crypto asset services in the EU, with strict adherence to anti-money laundering, cybersecurity, and […]
https://news.bitcoin.com/french-regulator-begins-accepting-crypto-service-provider-applications-ahead-of-mica-regulation/
The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button for liquid assets during broad-based panics. But from my seat, today’s events play into the long-term story for […]
https://news.bitcoin.com/market-panic-bitwise-cio-reflects-on-bitcoins-resilience-amid-market-turmoil/
Saudi Arabia’s emergence as a top venture capital investment destination in the Middle East and North Africa offers an opportunity for Web3 startups seeking funding. However, the latest Adaverse report acknowledges that the Saudi Web3 industry faces challenges requiring collaboration among key stakeholders to overcome. The report urges Saudi authorities to establish clear, comprehensive regulations […]
https://news.bitcoin.com/saudi-arabia-becoming-hub-for-web3-startups-seeking-investment-report-says/
PRESS RELEASE. SINGAPORE — 5th August, 2024 — TOKEN2049, the world’s largest crypto event, announced its first batch of headline speakers and prominent title sponsors ahead of its eagerly anticipated return to Singapore. TOKEN2049 will take place from 18-19 September 2024 at Marina Bay Sands, ahead of the Formula 1 Singapore Grand Prix 2024 race […]
https://news.bitcoin.com/token2049-singapore-set-to-be-worlds-largest-web3-event-with-20000-attendees-and-over-500-side-events/
Over the past 24 hours, as market values have declined significantly, many observers have begun discussing the current crypto market cycle and the potential for digital currency prices to recover. Data indicates that hundreds of billions of dollars have exited the crypto economy, but some believe a rebound similar to 2020 could still occur. Onlookers […]
https://news.bitcoin.com/following-the-crypto-downturn-market-observers-predict-a-2020-style-comeback/
99Bitcoins is making its move into tokens – but time is running out. They’ve already pulled in over $2.6 million through the presale for their new 99Bitcoins Token (99BTC). And with a Learn-to-Earn model set to debut, things could be about to get even better. 99Bitcoins Token’s Presale Deadline Looms – Last Chance to Buy […]
https://news.bitcoin.com/final-24-hours-of-99bitcoins-tokens-presale-underway-as-crypto-education-giant-raises-2-6m/
U.S. equities have joined the global downturn, following sharp declines across Asia and Europe, with Japan’s Nikkei suffering significant losses. By 11:15 a.m. EDT on Monday, the five major U.S. stock indices had fallen between 2.5% and 4.5%. This market turmoil has extended to crypto-related stocks such as Microstrategy’s MSTR and Coinbase’s COIN. The primary […]
https://news.bitcoin.com/crypto-related-stocks-slide-amid-global-market-turmoil/
Enter the world of Gamdom Casino, where exceptional gaming meets cutting-edge cryptocurrency transactions. As a renowned online gaming platform, Gamdom offers an unparalleled experience, combining a vast game selection with innovative payment options. Unmatched Gaming Experience With an extensive portfolio of over 4,000 games, Gamdom caters to all preferences. The platform features classic slots, table […]
https://news.bitcoin.com/unleash-the-ultimate-crypto-gaming-experience-at-gamdom-casino-win-big-and-play-safe/
As of 9 a.m. EDT on Monday, the crypto market experienced a $1.15 billion loss in derivatives positions, with $975.93 million of these being long positions. Of that total, approximately $403.82 million came from BTC positions, while $364.98 million resulted from ETH positions being liquidated. Mass Liquidation Madness On Monday morning, the crypto market faced […]
https://news.bitcoin.com/crypto-carnage-1-15b-in-leveraged-positions-annihilated-as-bitcoin-nosedives/
Bitcoin’s price reached a five-month low, dipping to $49,647 at 2:25 a.m. EDT on Monday, Aug. 5. This decline is fueled by growing concerns about an impending recession, with Japan’s Nikkei experiencing its steepest daily drop since ‘Black Monday’ in 1987. Futures for the Dow, Nasdaq, and S&P 500 have also shown signs of correction, […]
https://news.bitcoin.com/bitcoin-technical-analysis-50000-support-under-siege-as-bearish-trends-persist/
In his latest social media posts, Tron Founder Justin Sun addressed rumors about the liquidation of their positions, firmly denying any truth to these claims. Sun emphasized that they rarely engage in leveraged trading strategies, as they do not see significant benefits for the industry. Instead, they focus on activities that support the industry and […]
https://news.bitcoin.com/justin-sun-denies-liquidation-rumors-announces-1-billion-fund-to-combat-fud/
Felix Sosa, president of the National Power Administration of Paraguay (ANDE), has disregarded reports indicating that a mass exodus of cryptocurrency mining companies could be brewing. Sosa stated that no cryptocurrency company had left the country yet and that there were over 400 MW in projects awaiting approval by the institution. No Cryptocurrency Mining Companies […]
https://news.bitcoin.com/paraguays-power-chief-no-cryptocurrency-mining-company-has-left-yet/
The South African decentralized cross-asset marketplace Mesh.trade has facilitated a $1.64 million (ZAR30 million) capital raise for a reverse mortgage provider. The capital raise allows the provider to offer homeowners the potential for lucrative returns while they remain in their homes. Regulated Alternative Capital Raising Platform The decentralized cross-asset marketplace, Mesh.trade, recently launched a $1.64 […]
https://news.bitcoin.com/south-african-crypto-asset-marketplace-initiates-1-64-million-capital-raise/