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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
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/
U.S. senators have introduced legislation to empower the Secret Service to combat cybercrimes involving digital assets. This legislation addresses the growing use of cryptocurrencies for illicit activities and mandates the Government Accountability Office to evaluate law enforcement’s effectiveness in tackling money laundering in cyber crimes. New Bill Targets Cybercrime and Money Laundering with Digital Assets […]
https://news.bitcoin.com/new-senate-bill-empowers-us-secret-service-to-combat-digital-asset-cybercrimes/
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Ollie of Blocmates delves into the rise of Solana celebrity memecoins. With memecoins being one of the most consistently active sectors of crypto, […]
https://news.bitcoin.com/an-analysis-of-solanas-celebrity-memecoin-invasion/
Amber Group has criticized ZKX protocol’s abrupt decision to cease operations, stating that it sets a concerning precedent. Hashkey Capital, another market participant, has also expressed dissatisfaction with ZKX’s lack of transparency and accountability. ZKX founder Eduard Jubany Tur identified limited user engagement and low trading volumes as factors that ultimately impacted the protocol’s financial […]
https://news.bitcoin.com/zkx-shutdown-amber-group-slams-the-protocols-lack-of-transparency/
The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week. Bitcoin Slides Below $59K At 1:24 p.m. EDT on Sunday, bitcoin dropped to […]
https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate Impact of Dollar Shortage on Exchange […]
https://news.bitcoin.com/nigeria-acts-to-stabilize-currency-with-forex-auction/
In July, numerous dormant bitcoin wallets, established in 2017, showed substantial activity. This trend continues into August, with 467.63 BTC spent so far, amounting to approximately $28.2 million. Millions on the Move: What’s Behind the Reawakening of 2017 Bitcoin Wallets? Last month, sleeping bitcoin wallets from 2017 moved about 1,636.94 BTC through 23 distinct transactions. […]
https://news.bitcoin.com/several-2017-wallets-reactivate-in-august-28-2-million-in-bitcoin-on-the-move/
A center aiming to drive blockchain innovation and establish Abu Dhabi as a hub for top global events and workshops, connecting industry leaders, has officially opened. Additionally, the blockchain center will incorporate a venture capital arm to support and invest in Web3 startups. Center to Serve as Platform for Launching Latest Blockchain Technology Apps A […]
https://news.bitcoin.com/abu-dhabi-unveils-blockchain-center-to-drive-blockchain-innovation/
We listen to talk after talk about crypto finally achieving asset-class legitimacy, but truly speaking, the encroachment of Wall Street giants into the blockchain space is a double-edged sword. The following is an opinion editorial written by Karel Kubat, Founder of Union Labs. As blockchain enthusiasts, we’ve long championed decentralization, transparency, and democratized access—the 2008 […]
https://news.bitcoin.com/blockchain-and-nation-state-infrastructure-why-bother/
Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin. Boosting RWA and Defi Adoption Africa-focused fintech firm Canza […]
https://news.bitcoin.com/canza-finance-partners-with-stablecoin-issuer-to-bring-efficient-financial-solutions-to-africa/
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/
Economist and gold advocate Peter Schiff has warned investors that a sharp drop in bitcoin’s price could trigger mass bitcoin exchange-traded fund (ETF) liquidations. “If so, brace for a Crypto Black Monday,” he cautioned. He believes that bitcoin has been in a major bear market for almost three years. Peter Schiff Warns of Sharp Decline […]
https://news.bitcoin.com/peter-schiff-warns-of-mass-bitcoin-etf-liquidations-and-crypto-black-monday/
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador proposes using crypto as a tool to complete international settlements with Russia, Argentina registers its first bitcoin-funded company, and the Polymarket Venezuelan presidential election bet is still undecided. Russian Diplomat: El […]
https://news.bitcoin.com/latam-insights-el-salvador-proposes-using-crypto-for-international-settlements-first-bitcoin-funded-company-registered-in-argentina/
Despite recent positive economic indicators, investor and macroeconomics expert George Gammon foresees a hard landing for the U.S. economy. In an interview with Michelle Makori of Kitco News, Gammon pointed to several warning signs in the banking sector and the broader financial landscape. Banks See Economic Storm Clouds Ahead: George Gammon’s Warning Gammon explains that […]
https://news.bitcoin.com/macroeconomics-expert-predicts-hard-landing-for-us-economy/
U.S. Congressman Ro Khanna will host a meeting to help Vice President Kamala Harris improve her relationship with the cryptocurrency industry. This is the second event of its kind in two months to aid Harris’ campaign efforts amid the Biden administration’s tough stance on crypto assets. Meeting Arranged to Help Vice President Kamala Harris Mend […]
https://news.bitcoin.com/us-lawmaker-hosts-meeting-to-help-kamala-harris-gain-crypto-industry-support/
After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s […]
https://news.bitcoin.com/historic-drop-in-bitcoin-revenue-leaves-miners-struggling/
The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […]
https://news.bitcoin.com/markets-in-freefall-coinbase-reports-great-q2-revenue-and-more-week-in-review/
Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, […]
https://news.bitcoin.com/crypto-friendly-mercado-libre-becomes-latams-largest-company/
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Gaz of Blocmates breaks down Megaeth, one of the hottest Layer 2s, including explaining the technical reasons why so many people are excited […]
https://news.bitcoin.com/megaeth-the-endgame-eth-scaling-solution/
India’s Enforcement Directorate (ED) has executed its inaugural raid in the Leh Ladakh region to investigate fraudulent cryptocurrency activities under the Public Money Laundering Act (PMLA). The operation targeted six locations across Leh in Ladakh, Jammu in J-K, and Sonipat in Haryana, focusing on A. R. Mir and his associates. Allegations suggest thousands of investors […]
https://news.bitcoin.com/indias-crypto-raid-uncovers-massive-fraud-in-ladakh/