Author: Max Bauer
Atlanta Federal Reserve President Raphael Bostic indicated his openness to an interest rate cut as early as September, citing cooling inflation and a softening labor market. In an interview with the Financial Times, Bostic stressed the need to act promptly, emphasizing the risks of waiting too long to adjust monetary policy. While acknowledging the labor market’s “weakening but not weak” state, Bostic highlighted the rising unemployment rate and the need to balance the Fed’s dual mandate of price stability and maximum employment. He noted that businesses in the southern US are increasingly pausing hiring, adding to the uncertainty surrounding the…
Binance Labs, the venture capital arm of Binance, has announced its investment in MyShell through the Binance Labs Incubation Season 6 program. MyShell claims it’s creating a decentralized AI ecosystem, aiming to empower everyone to build, own, and share AI applications. According to official blog, by harnessing the power of decentralized talent and open-source models, along with the inherent composability of AI and blockchain, MyShell envisions a future where cryptocurrency and AI work hand in hand. “Binance Labs recognizes the tremendous potential of AI technology and is committed to supporting and backing AI-powered consumer applications,” said Yi He, Co-Founder of…
According to Coinmarketcap data, the cryptocurrency market experienced a mixed bag of results today, with some tokens posting significant gains while others faced slight declines. Top Gainers Leading the charge among the top 100 tokens was Aave (AAVE), which surged by an impressive 10.84% to reach $105.27. Toncoin (TON) followed closely with a 10.50% increase, now valued at $6.97. Other notable gainers included Notcoin (NOT) up 8.82%, Flare (FLR) up 8.63%, and THORChain (RUNE) with an 8.28% rise. Top Losers On the downside, Sui (SUI) saw a 3.62% drop, bringing its price to $0.9076. ORDI (ORDI) followed with a 3.05%…
Gold prices took a hit on Wednesday, falling 1%, after the release of the U.S. July Consumer Price Index (CPI). The data, which showed inflation cooling less than anticipated, tempered expectations of a 50 basis point interest rate cut by the Federal Reserve in September. “A rate cut in September is a done deal,” said Tai Wong, an independent metal trader in New York. “But current data shows that the Fed will start raising rates by 25 basis points, which will disappoint the market that likes to raise rates beyond expectations.” This shift in market sentiment has implications for gold,…
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…