Author: Max Bauer
Justin Sun, the renowned founder of Tron (TRX) and a prominent figure in the crypto world, continues to make headlines with his vast and diverse altcoin portfolio. Recent data reveals that Sun’s total crypto holdings amount to an impressive $1,083,585,782.87, further solidifying his position as a major player in the market. Sun’s Crypto Holdings: A Breakdown TRX: The native cryptocurrency of the Tron blockchain remains Sun’s largest holding, valued at $315.03 million. He also possesses an additional 367.246M Wrapped TRX worth $60.22M. Stablecoins: Sun maintains substantial positions in stablecoins USDD ($276.54 million) and USDJ ($94.55 million), providing stability to his…
The likelihood of the Federal Reserve reducing interest rates by 25 basis points in September is currently 68%, according to CME’s “Fed Watch” tool as reported by Jinshi Data on August 27. The tool also indicates a 32% probability of a more aggressive 50 basis point cut in September. As the year progresses, expectations for further rate reductions increase. By November, the probability of a 50 basis point cut rises to 48.7%, a 75 basis point cut to 42.2%, and a 100 basis point cut to 9.1%. This outlook aligns with recent comments from San Francisco Fed President Mary Daly.…
The cryptocurrency market has experienced significant turbulence in the last 24 hours, leading to large-scale liquidations of both long and short positions. As traders faced sudden price swings, liquidations across exchanges soared, with a total of $126.88 million liquidated. The majority of this figure—$101.36 million—came from long positions, while short positions accounted for $25.52 million. Breakdown of Liquidations The majority of liquidations occurred on Binance, OKX, and Bybit: Top Cryptocurrencies Affected The latest wave of volatility has primarily impacted traders holding long positions, with over 90% of liquidations in the last 24 hours affecting long traders across major exchanges. Bitcoin…
San Francisco Fed President Mary Daly has joined the chorus of Federal Reserve officials advocating for a reduction in interest rates. In an interview on Monday, Daly stated, “The labor market has achieved full balance. The time has come to adjust policy.” This aligns with remarks made by Fed Chairman Jerome Powell at the Jackson Hole Symposium last week, where he expressed confidence in inflation returning to the 2% target and affirmed that “the time has come to adjust policy.” While Daly said the Fed’s commitment to curbing inflation, she also stressed the importance of preventing restrictive policies from negatively…
Russia is gearing up to commence trials of cryptocurrency exchanges and cross-border payments using digital tokens starting September 1st. This move aims to alleviate payment challenges faced by Russian companies due to international sanctions. The trials will utilize the National Payment Card System for facilitating the exchange between rubles and cryptocurrencies. This initiative follows recent legislation passed in July, legalizing crypto mining and establishing a framework for testing digital tokens in cross-border settlements under the central bank’s supervision. These trials come at a time when Russian businesses are grappling with increasing difficulties in conducting international transactions. The challenges stem from…
The UK’s aspiration to become a global hub for cryptoassets has hit a major roadblock, with the Financial Conduct Authority (FCA) not granting any new crypto business registrations in the last six months. This stark contrast with the promises made in 2022 by then-Chancellor Rishi Sunak to establish the UK as a “global cryptoasset technology hub” has left many in the industry questioning the future of crypto in the country. Data from the FCA registry, updated on August 1st, reveals that only four out of 34 applications received in the past year were approved, with the last successful registration being…
French President Emmanuel Macron has addressed the public following the arrest of Telegram founder Pavel Durov, which took place over the weekend at Bourget Airport near Paris. Macron said that the arrest was part of an ongoing judicial investigation and not a politically motivated decision. In a statement, Macron responded to what he described as “false information” circulating regarding France’s stance on freedom of expression and innovation following Durov’s arrest. “France is deeply committed to freedom of expression and communication, to innovation, and to the spirit of entrepreneurship. It will remain so,” Macron stated. He claimed that in a state…
Aave and Lens Protocol founder Stani Kulechov has called for a shift in focus from “decentralization” to “resilience” in the development of social networks, following the recent arrest of Telegram CEO Pavel Durov. Kulechov argues that the term “decentralization” is misleading and lacks a clear definition. Instead, he advocates for a focus on building social networks that are resilient to disruptions and attacks, ensuring that users’ rights and freedoms are protected. He points to the success of DeFi projects like Aave, which prioritize resilience over decentralization. These projects aim to minimize single points of failure that could compromise the network’s…
A recent analysis of Bitcoin mining activity reveals that two industry giants, Foundry USA and Antpool, have taken a firm grip on the network’s hashrate, together commanding a staggering 56.7% of the total computing power. This dominance has been particularly evident in the past 72 hours, during which the two pools seized over half of all newly mined blocks. This control was further amplified by a recent fee spike, which filled blocks with unusually high transaction fees, leading to increased profitability for these major players. Foundry has displayed a remarkable surge in hashrate since the beginning of 2024, increasing its…
In the wake of Telegram founder Pavel Durov’s recent arrest in France, the TON community has released a statement reaffirming their commitment to their mission and values. “Following the recent news related to the Telegram’s founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational,” the statement reads. The community also urged everyone to remain calm, united, and to continue building as they navigate this challenging situation together. They ended the statement on a note of optimism, stating, “Today more than ever, we see the need for freedom of speech and decentralization -…