Author: Max Bauer
Inflation figures released today are in line with expectations, strengthening the case for a Federal Reserve rate cut in September, according to Tom Graff, Chief Investment Officer of Facet. While overall CPI growth was as predicted, the details suggest a more nuanced picture. The majority of this month’s increase came from housing costs. Because housing carries a slightly lower weighting in the Fed’s preferred inflation metric, the core PCE, this could mean a slightly lower reading for that measure. This development, Graff argues, solidifies the Fed’s path towards a rate cut next month. However, he cautions against expectations of an…
As of August 10, PumpFun, a popular platform for launching memecoins, has witnessed the birth of approximately 1.7 million tokens. However, Newton Einstein’s latest research paints a stark picture of the challenges these tokens face in achieving lasting success. Out of the massive pool of 1.7 million tokens, only a small fraction manages to gain any traction. Just 23,800 tokens have been listed on Raydium, a decentralized exchange, and an even smaller number, 141, have achieved a listing on CoinGecko, a prominent cryptocurrency data aggregator. Maintaining a market value above $1 million for multiple weeks proves to be an even…
Iran’s state power company, Tavanir, is taking drastic measures to combat the surge in illegal cryptocurrency mining operations that are exacerbating the country’s ongoing power shortages and severe heatwaves. Citizens who expose these illegal miners will now be rewarded with a $20 bounty. Tavanir’s CEO, Mostafa Rajabi Mashhadi, highlighted the issue, stating that opportunistic individuals are exploiting subsidized electricity and public networks to mine cryptocurrencies without authorization. This illegal activity, coupled with a record-breaking heatwave, is causing significant disruptions to the country’s electricity network. To encourage public participation in the crackdown, Mashhadi announced a bounty of one million toman (approximately…
The US allegedly moved 10,000 Bitcoins worth around $600 million from funds seized from the Silk Road hack.Here is the address in question: bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek Arkham data confirms the transfer: It is not known for certain who the recipient address belongs to, but it has been flagged as Coinbase by Whale Alert. In its latest post, cryptocurrency monitoring platform Arkham confirmed that the Bitcoin transfer in question was from US government wallets to Coinbase.
Ledger has announced a new partnership with Revolut. This integration will allow Revolut users to purchase cryptocurrency directly through the Ledger Live app, streamlining the process while maintaining high security standards. According to official Ledger blog, this partnership brings together Ledger’s industry-leading hardware security and Revolut’s user-friendly digital payment platform. Revolut joins Ledger Live as a buy provider, enabling users to convert their fiat currency into cryptocurrencies without compromising the custody of their assets. “Cryptocurrency is inevitable,” stated Pascal Gauthier, Chairman, and CEO at Ledger. “Allowing people to buy and sell digital assets securely and with self-custody is paramount as…
In a recent disclosure on the X platform, Eleanor Terrett of Fox Business reported that Fairshake, a prominent cryptocurrency-supporting super PAC, has announced its initial support plans for various Senate candidates through its subsidiary committees. According to the announcement, Fairshake’s subsidiary committee, Defend American Jobs, is set to reserve approximately $12 million for Bernie Moreno’s Senate campaign in Ohio. Moreno is gearing up to challenge the incumbent Senator Sherrod Brown. In addition, another subsidiary committee, Protect Progress, will allocate about $3 million each to support the Senate campaigns of Ruben Gallego in Arizona and Elissa Slotkin in Michigan. These funds…
In a recent report by Glassnode, a prominent blockchain analytics firm, Bitcoin long-term holders (LTH) continue to exhibit strong holding behavior, maintaining historically high levels of value despite market turbulence. The firm’s weekly on-chain analysis reveals a notable shift from selling pressure to a renewed focus on holding (HODL) and accumulation among Bitcoin investors. Over the past three months, more than 374,000 BTC have transitioned to long-term holding status. Although the spot market has experienced significant seller pressure recently, this trend appears to be stabilizing. The recent price fluctuations in the Bitcoin market have slowed the pressure on LTH allocation,…
The Hong Kong Monetary Authority (HKMA) and Cyberport today announced the launch of a new Generative Artificial Intelligence (GenA.I.) sandbox. The initiative aims to foster responsible innovation and development of GenA.I. technologies within the banking sector. By providing a controlled environment for banks to experiment with various GenA.I. use cases, the sandbox will support the industry in exploring potential applications to enhance risk management, fraud prevention, and customer experience. The HKMA will also offer technical support and regulatory guidance to ensure alignment with the evolving landscape. Eddie Yue, Chief Executive of the HKMA, emphasized the groundbreaking nature of the sandbox,…
ListaDAO has announced that slisBNB assets will be supported by Binance Launchpool for reward calculation. This means that users holding slisBNB in their Web3 MPC wallets will be eligible to earn rewards from upcoming Launchpool projects. The news comes as Binance Launchpool prepares to launch its 56th project, Toncoin (TON), on August 15, 2024. The webpage for the Toncoin pool is expected to go live within 24 hours of the launch. Beyond Launchpool, ListaDAO also revealed that Megadrop and HODLer Airdrops will soon support DeFi BNB Assets. Binance has indicated a potential expansion of support to other decentralized BNB assets…
In a recent report from Coinbase Research, macroeconomic pressures have been identified as having a significant impact on the cryptocurrency market. Analysts predict that the market is likely to remain subdued in the coming weeks, citing a lack of catalysts to drive prices higher. This environment of uncertainty has led to increased nervousness among investors. The report underscores the growing dependence of the cryptocurrency market on broader economic events. One notable example highlighted is the Bank of Japan’s decision to raise interest rates last week, which contributed to the unwinding of the yen carry trade and sent ripples through global…