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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Over the past 12 days, the stablecoin economy has maintained a similar value, yet the supply of dollar-pegged crypto assets PYUSD and USDE has experienced notable shifts. Over the last 22 days, Paypal’s PYUSD supply increased by more than 70%, while Ethena’s USDE saw an 8.82% decrease within the past 13 days. Ethena’s USDE Drops […]
https://news.bitcoin.com/stablecoin-market-sees-pyusd-supply-swell-while-usde-shrinks-with-redemptions/
Genesis Digital Assets Limited (GDA) has embarked on a new project in Norsjö, Sweden, utilizing surplus heat from one of its bitcoin mining data centers to warm a local garage. This collaboration with Swedish company Muttern Fastigheter showcases an innovative approach to enhancing energy efficiency within the industry. GDA and Muttern Fastigheter Collaborate on Sustainable […]
https://news.bitcoin.com/bitcoin-miner-genesis-digital-assets-launches-heat-repurposing-project-in-sweden/
A group of Democrat lawmakers, including Massachusetts Senator Elizabeth Warren, has penned a letter to Commodities and Futures Trading Commission (CFTC) Chairman Rostin Behnam, urging the agency to prohibit all forms of election-related gambling in the United States. This appeal is timely, as Polymarket, a blockchain-based platform for real-time prediction markets, has gained traction with […]
https://news.bitcoin.com/us-lawmakers-push-for-cftc-action-against-election-gambling-amid-polymarkets-rise/
Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the attack. The FIR, filed nearly 20 days later, is part of an ongoing investigation by the Delhi […]
https://news.bitcoin.com/wazirx-announces-fir-filing-following-major-cyberattack/
Meme coins have made a dramatic comeback in the past 24 hours. After a brutal downturn, these tokens are on the rise again, led by Brett, Pepe, and the upcoming Base Dawgz. Brett Bounces Back from Key Support Level Brett (BRETT) has experienced a remarkable turnaround. This Base chain token has bounced back to $0.095, […]
https://news.bitcoin.com/meme-coin-prices-rebound-as-brett-pepe-base-dawgz-see-big-gains/
On Monday, U.S. spot ethereum exchange-traded funds (ETFs) recorded their second-highest inflows since their inception. Approximately $48.73 million was added, yet the nine funds collectively remain in the red, with a deficit of $461.98 million, primarily due to significant outflows from Grayscale’s Ethereum Trust. Blackrock Leads $48.73M Inflows for U.S. ETH ETFs as Crypto Market […]
https://news.bitcoin.com/us-eth-etfs-draw-48-73m-on-monday-grayscales-46-84m-outflow-dampens-impact/
PRESS RELEASE. Geneva, Switzerland – August 6th, 2024 – Leading crypto media research arm Cointelegraph and leading crypto research platform CryptoQuant have released comprehensive research reports offering in-depth analyses of the TRON network. These reports highlight a continuous rise in network activity and emphasize TRON’s high transaction speeds, scalability, and cost-effectiveness, which make it a […]
https://news.bitcoin.com/cointelegraph-and-cryptoquant-research-reveal-trons-inelastic-activity-maintaining-stability/
Capula Management, one of the largest hedge funds in Europe with assets under management (AUM) of approximately $118 billion, has made a significant move in the cryptocurrency market by investing $464 million in spot Bitcoin exchange-traded funds (ETFs). This substantial investment underscores the growing institutional interest in bitcoin, even amid market fluctuations. Capula’s step highlights […]
https://news.bitcoin.com/capula-management-invests-464-million-in-bitcoin-etfs-signaling-institutional-interest/
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/
Popular bug bounty platform Immunefi has found that the global cryptocurrency ecosystem suffered increased hacks and frauds in the second quarter of 2024, losing $572.7 million. According to a recent report, this is a 112% increase compared to the same period last year. Immunefi noted that the two largest exploits of the year were responsible […]
https://news.bitcoin.com/immunefi-report-reveals-alarming-112-rise-in-crypto-hacks-and-frauds-in-q2-2024/
On Aug. 5, 2024, global crypto trade volume surpassed $200 billion, and current 24-hour statistics show approximately $148.26 billion in volume has been finalized the following day. Data reveals that Binance, the leading crypto exchange by trading volume, experienced inflows of $1.2 billion over the past day. Binance CEO Richard Teng noted that this “marks […]
https://news.bitcoin.com/crypto-market-volatility-fuels-1-2b-inflows-at-binance/
PRESS RELEASE. The cryptocurrency gaming sector is witnessing an intense rivalry between two notable titles: Hamster Kombat and Lovely Legends. As the competitive landscape evolves, industry experts are increasingly recognising Lovely Legends as the more promising and innovative contender for both gaming enthusiasts and cryptocurrency investors. Unprecedented Airdrop Initiative In an unparalleled move, Lovely Legends […]
https://news.bitcoin.com/crypto-gaming-showdown-why-lovely-legends-is-set-to-outshine-hamster-kombat/
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned over Rs 4,000 crore from transaction fees […]
https://news.bitcoin.com/binance-hit-with-87-million-tax-bill-in-india/
On Monday, unlike their ethereum counterparts, spot bitcoin exchange-traded funds (ETFs) witnessed outflows totaling $168.44 million. The primary contributors to this decline were three funds, with Grayscale’s GBTC taking the lead in outflows. 3 Leading Bitcoin ETFs Experience Major Outflows Grayscale’s Bitcoin Trust (GBTC) experienced a significant outflow of $69.12 million, bringing its total net […]
https://news.bitcoin.com/us-spot-bitcoin-etfs-see-red-grayscales-gbtc-and-top-funds-hit-hard/
Egyptian artificial intelligence firm Synapse Analytics has secured $2 million to expand into the Gulf Cooperation Council region and Africa. The company has partnered with major banking product providers such as AWS, Crealogix, and TUMM. Using AI to Simplify Access to Finance The Egyptian artificial intelligence (AI) firm, Synapse Analytics, recently secured $2 million to […]
https://news.bitcoin.com/egyptian-ai-startup-gets-2m-for-gcc-africa-expansion/
Jacob King, a financial analyst at Whalewire, has stated that he doesn’t consider bitcoin a hedge “against anything.” King stressed that “crypto itself was entirely propped up by stable coin fraud. I warned it would crumble like paper when it starts.” Bitcoin fell under $50,000 on August 5th, as the Japanese stock market also took […]
https://news.bitcoin.com/financial-analyst-states-bitcoin-is-not-a-hedge-against-anything/
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/