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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Ethereum founder Vitalik Buterin has voiced his concerns following the arrest of Telegram CEO Pavel Durov in France. Buterin criticized Telegram’s previous approach to encryption but expressed alarm over the arrest, suggesting it poses a threat to software and communication freedom in Europe. He highlighted the shift in public criticism of tech leaders, noting the […]
https://news.bitcoin.com/vitalik-buterin-raises-concerns-over-telegram-ceos-arrest-and-its-implications-for-tech-freedom/
During the first half of 2024, Google Search trends revealed a significant rise in interest in artificial intelligence (AI) in South Africa, Nigeria, and Kenya. Interest in AI grew by 150% in Kenya, 130% in Nigeria, and 120% in South Africa compared to the same period in 2023. Kenya ranked fourth in Africa and 13th […]
https://news.bitcoin.com/ai-curiosity-explodes-south-africa-nigeria-and-kenya-embrace-the-technology/
A series of gold bullion transfers abroad by the Argentine government has sparked a series of criticisms behind this action, bringing several lawmakers to question the secrecy of this matter. While experts state that this movement has to do with the efficient utilization of these resources, the government has not issued official statements on the […]
https://news.bitcoin.com/secrecy-of-argentine-gold-bullion-transfers-abroad-sparks-lawmaker-criticism/
Economist and gold advocate Peter Schiff has cautioned about the U.S. dollar index falling substantially, “triggering a U.S. dollar crisis, crashing the economy, and sending consumer prices and long-term interest rates soaring.” Schiff further warned of higher inflation and stagflation, impacting consumer prices and interest rates. He criticized the Federal Reserve’s current strategies, cautioning against […]
https://news.bitcoin.com/peter-schiff-warns-of-looming-us-dollar-crisis-and-economic-collapse/
The U.S. District Court for the Northern District of California has denied Kraken’s motion to dismiss a lawsuit by the U.S. Securities and Exchange Commission (SEC). The court determined that the SEC “has plausibly alleged” that certain crypto tokens traded on the Kraken exchange could be considered securities, thereby allowing the case to proceed. Kraken’s […]
https://news.bitcoin.com/us-court-denies-krakens-motion-to-dismiss-sec-crypto-securities-lawsuit/
Crypto exchange Gate.io has secured a sleeve sponsorship deal with Inter Milan, the reigning Italian champions. Gate.io’s logo will be displayed on both men’s and women’s team jerseys. Both parties see this collaboration as a chance to connect with their respective communities and explore opportunities at the intersection of football and cryptocurrency. Sleeve Sponsorship Enhances […]
https://news.bitcoin.com/crypto-exchange-gate-io-secures-sponsorship-deal-with-italian-soccer-giant-inter-milan/
In a leaked recording from an internal meeting, Amazon Web Services CEO Matt Garman discussed the evolving role of software developers in the age of artificial intelligence (AI). Garman suggested that AI could soon take over many coding tasks, urging developers to focus on innovation and customer needs rather than the mechanics of writing code. […]
https://news.bitcoin.com/aws-ceo-predicts-ai-to-transform-software-developer-roles/
Wazirx has defended its recent restructuring strategy following a significant cyberattack that resulted in the theft of over $230 million. The founder reassured stakeholders that this move is not indicative of bankruptcy or liquidation.
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Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy or liquidation since that will take several years,” […]
https://news.bitcoin.com/wazirx-defends-restructuring-decision-founder-assures-not-bankruptcy-or-liquidation/
Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million. NFT Market Booms With Ethereum at the Helm Reaching $99M in […]
https://news.bitcoin.com/nft-sales-soar-24-as-ethereum-takes-the-lead-this-week/
The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer […]
https://news.bitcoin.com/kraken-crypto-exchange-fined-by-australian-court/
Cursor, an artificial intelligence (AI) company that seeks to “create a magical tool with the aim of writing all of the world’s software,” has announced it has raised $60 million in its Series A funding round. The round had the participation of Andreessen Horowitz, Thrive Capital, Openai, and many others, and gave the company a […]
https://news.bitcoin.com/ai-coding-tool-cursor-raises-60-million-at-a-400-million-valuation/
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]
https://news.bitcoin.com/india-expected-to-release-consultation-paper-on-cryptocurrency-regulations-in-coming-months/
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, […]
https://news.bitcoin.com/nigerian-firms-forecast-further-naira-depreciation/
Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which […]
https://news.bitcoin.com/bitcoin-blasts-to-64853-powells-rate-cut-hints-lift-entire-crypto-market/
Digital asset platform Progmat and DMM, a Japanese entertainment giant, are collaborating to create a new stablecoin on the Progmat Coin platform. The stablecoin will be used within the Seamoon Protocol, a Web3 network for culture and entertainment. DMM Crypto, a subsidiary of DMM Group, expects to utilize the stablecoin to enhance user experiences and […]
https://news.bitcoin.com/dmm-group-and-progmat-collaborate-to-create-a-regulated-stablecoin/
As the U.S. election season heats up, Bitcoin finds itself once again in the political crossfire. From Washington, D.C., to international capitals, this digital currency has become a talking point, with politicians on both sides of the aisle either championing it as a revolutionary financial tool or condemning it as a threat to economic stability. […]
https://news.bitcoin.com/why-2024-should-be-bitcoins-year-to-step-away-from-politics/
The chief legal officers at Kraken and Ripple have weighed in on the Federal Court for the Northern District of California’s recent decision in the U.S. Securities and Exchange Commission’s lawsuit against Kraken. “Another court, this time in the Kraken case, confirms there’s no such thing as a ‘crypto asset security.’ Bad news for the […]
https://news.bitcoin.com/ripple-kraken-legal-chiefs-weigh-in-on-court-decision-in-secs-crypto-securities-lawsuit/
Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned that the U.S. is adding a trillion dollars to its debt every 100 days. He advises investing in gold, silver, and bitcoin to safeguard against economic instability. Kiyosaki also points out the dangers of relying on traditional banks, noting that banking panics are often […]
https://news.bitcoin.com/robert-kiyosaki-pushes-bitcoin-as-us-debt-soars-to-alarming-levels-warns-of-banking-system-failures/
Pavel Durov, founder and CEO of Telegram, has reportedly been arrested at Le Bourget airport in France under a search warrant issued by the French judicial police. The arrest follows accusations that Telegram facilitates crimes like drug trafficking and fraud due to its anonymity features. Durov faces serious charges, including terrorism and narcotics trafficking. Telegram […]
https://news.bitcoin.com/telegram-ceo-pavel-durov-arrested-in-france-ton-price-plummets/
Thomas Joseph Webster, Professor Emeritus of Economics at Pace University, challenges the long-held belief in the Federal Reserve’s political independence in his comprehensive report, “The Myth of Fed Political Independence.” Webster’s research scrutinizes the relationship between fiscal and monetary policies, arguing that the Federal Reserve operates more as a political tool than an independent entity. […]
https://news.bitcoin.com/academic-paper-questions-federal-reserve-independence-and-exposes-political-ties/
Market data reveals that bitcoin’s market capitalization now stands at 56%, representing a 47.36% growth since Nov. 2022. Although the crypto markets have been showing positive trends this week, the likelihood of an ‘altcoin season’ remains quite slim. This is evidenced by blockchaincenter.net’s Altcoin Season Index (ASI), which currently sits at a low score of […]
https://news.bitcoin.com/bitcoins-reign-unchallenged-altcoin-season-continues-to-fade-into-obscurity/
In the last three days, Foundry USA and Antpool have emerged as the leading forces in bitcoin mining, together controlling a whopping 56.7% of the network’s total hashrate. Since the year began, Foundry’s hashrate has climbed by about 75 exahash per second (EH/s), marking a significant increase. Foundry USA and Antpool Control Well Over Half […]
https://news.bitcoin.com/data-shows-bitcoin-mining-giants-foundry-and-antpool-seize-56-7-of-networks-hashrate/
Polygon’s community Discord channel was compromised in a recent cyberattack, raising security concerns among users. The platform’s administrators have regained control and are working to restore the channel to its original state. Polygon Discord Breached—Admins Regain Control Access Polygon‘s chief information security officer, Mudit Gupta, explained that the Discord channel was compromised, cautioning users to […]
https://news.bitcoin.com/polygons-discord-channel-hacked-admins-regain-control-amid-security-concerns/
At the end of the day on Friday, U.S. spot bitcoin exchange-traded funds (ETFs) reported a substantial $252 million in net gains. In contrast, ether ETFs continued their downward trend, losing another $5.7 million. Bitcoin ETFs Shine with $252M Inflows; Ether Funds Dip by $5.7M Spot bitcoin ETFs achieved their highest inflow since late July, […]
https://news.bitcoin.com/bitcoin-etfs-soar-with-252m-influx-ether-etfs-experience-another-day-of-losses/
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […]
https://news.bitcoin.com/99-arrested-in-philippine-crypto-scam-hub-raid/
China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed to local currency use, payment infrastructure, and mutual investments, while also advancing collaboration in artificial intelligence, sustainable development, and global governance. China and Russia Strengthen […]
https://news.bitcoin.com/china-and-russia-push-for-increased-local-currency-use-in-trade-deepen-brics-cooperation/
The United States is urging countries to collaborate on the responsible use of artificial intelligence (AI) in military applications. A senior State Department official, Mallory Stewart, emphasized the need for countries to agree on AI guidelines that align with international laws. Concerns about the potential negative consequences of AI in military applications, such as prolonged […]
https://news.bitcoin.com/us-african-nations-discuss-responsible-ai-use-in-military-applications/
The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment […]
https://news.bitcoin.com/nigerian-central-bank-affiliate-partners-with-blockchain-startup-zone-to-boost-payments/
The National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems. Paraguay Keeps Chasing Illegal Bitcoin […]
https://news.bitcoin.com/national-power-administration-of-paraguay-seizes-693-miners-in-illegal-bitcoin-mining-operation/