U.S. Federal Panel Claims Cryptocurrencies Can Boost The Economy, Will It Res...

The talks to allow digital currencies to exist in U.S. economy are underway. The suggestion is to achieve this by linking cryptocurrencies to the U.S. dollar. This contemplation took place on Tuesday at a meeting held by the U.S. Fed. At the meeting, a panel of speakers stated that the dollar status would gain more strength with crypto assets in the U.S. economy. Moreover, this will also give a boost to the digital currency industry. Strength Of Dollar Could Improve Through Cryptocurrencies The current state of cryptocurrencies is still posing some level of uneasiness in the mind of....


Key Bitcoin chart 'will confirm bottom is in' by July 15, says trader

It's all about two moving averages crossing over as proof that BTC price action is done with the dip. Bitcoin (BTC) is due to give a definitive signal that a macro bottom is in this month, one analyst has concluded.In a Twitter thread on July 6, popular commentator Wolf eyed key moving average data as proof that BTC price action will not be going lower.Key chart crossover eyed as end to bear market lossesAmid repeated calls for BTC/USD to revisit levels not seen since Q4 2020, one simple historical trend is now saying that the pair has already seen its latest macro lows.Analyzing the 3-day....

Bitcoin vs bank: Nayib Bukele reminds Peter Schiff why banks can’t trump BTC

Peter Schiff’s bank closure highlights why Bitcoin is crucial for financial freedom as the nascent asset class has already helped nearly 4 million unbanked in El Salvador to gain banking facilities. Since the closure of his bank in Puerto Rico, Peter Schiff has been at the receiving end of Bitcoin (BTC) proponents, reminding him this wouldn’t have happened if he was using BTC.The latest to taunt the gold proponent is none other than El Salvador President Nayib Bukele, who has had a fair share of interactions with Schiff ever since El Salvador adopted BTC as a legal tender last year.Bukele....

Ex-Head Of TikTok Gaming Rolls Out New Blockchain Gaming Startup

Jason Fung, the former head of TikTok gaming, exited the fastest-growing social media platform. After his exit, the ex-executive rolled out his new startup on Blockchain gaming. Through his announcement on July 5, Fung stated that he exited TikTok to facilitate the launch of MetaO. He explained that MetaO is a startup that focuses on […]

Zimbabwe Central Bank: Gold Coin Sales to Commence in Late July

Starting on July 25, the Zimbabwean public will be able to buy and hold gold coins which weigh one troy ounce each. In addition to their use as an alternative store of value, the central bank says the coins can be traded and used as “security for loans and credit facilities.” Coins to Be Sold at ‘Prevailing International Price of Gold’ Just a few weeks after revealing its plans to roll out gold coins, the Reserve Bank of Zimbabwe (RBZ) released a statement on July 4 advising “the public of the salient features and characteristics of the gold coin.”....

Crema hacker returns $8M, keeps $1.6M in deal with protocol

The Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty. The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned most of the funds but was allowed to keep $1.6 million as a white hat bounty.The bounty, 45,455 Solana (SOL), is worth a generous 16.7% of the $9.6 million Crema lost initially, which forced the protocol to suspend services. Crema’s team began an investigation to identify the hacker by tracking their Discord handle and tracing the original gas....

Roskomnadzor Media Watchdog Unblocks Leading Russian Crypto News Outlet

Russia’s mass media regulator, Roskomnadzor, has restored access to a major Russian crypto news portal. Bits.media was recently blocked as a result of proceedings in a regional court that its representatives were not even summoned to attend. Crypto News Site Bits.media Again Available to Russian Readers as Roskomnadzor Delists It Bits.media, the source for crypto-related news with the second-largest audience in the Russian-speaking space, has managed to win the cancellation of its blacklisting by Russia’s Federal Service for Supervision of Communications, Information....

WSJ editorial slams SEC’s ‘bewildering’ Bitcoin ETF denials

The editorial board has drawn attention to a two-pronged approach employed by SEC’s Gensler, which makes it practically impossible to get a spot Bitcoin product approved. The Wall Street Journal Editorial Board has come out swinging against Gary Gensler’s “legendary” resistance to approving a spot Bitcoin (BTC) exchange-traded fund (ETF). The hard-hitting opinion piece, published on Wednesday, called out the Gensler-led Securities and Exchange Commission (SEC) for overt inconsistencies in how the commission handles applications for Bitcoin-related exchange-traded products (ETPs) compared....

Are A Fake Job Offer And A .Pdf Responsible For The Axie Infinity/ Ronin Hack?

The latest report on the Axie Infinity/ Ronin bridge hack is too good to be true. Especially considering the FBI claims a North Korea-sponsored hacking group is responsible for it. “A senior engineer at Axie Infinity was duped into applying for a job at a company that, in reality, did not exist,” The Block reports. That’s not all, apparently, the hackers’ spyware got into the system through a simple .pdf file. Unbelievable that a $622M hack started that way.  The Ronin Network is an Ethereum sidechain that exclusively serves Axie Infinity. Both a billion-dollar business and a fun app with....

Bloomberg analyst tips bullish BTC recovery in next six months

The price of BTC could be set for a bullish rebound this year, says Bloomberg’s senior commodity strategist Mike McGlon, as the market shows similar signs to the bottom of 2018. Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022. Sharing his thoughts to his 48,100 Twitter followers on July 6, McGlone saw positive signs in the data Bloomberg’s Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages of BTC’s price. He suggested that the current indicators are showing similar signs to the....

TA: Ethereum Looks Ready For Another Leg Higher Over $1,200

Ethereum is slowly moving higher towards $1,200 against the US Dollar. ETH could clear $1,200 unless it fails to stay above the $1,120 support zone. Ethereum extended gains and climbed above the $1,150 resistance zone. The price is now trading above $1,150 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,160 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it stays above the key $1,120 support zone. Ethereum Price Rises Steadily Ethereum remained steady above the $1,100 pivot level. There was....

All aboard! Elon Musk's Vegas Loop now taking Dogecoin payments

TBC founder Elon Musk seemingly confirmed the news on Wednesday with a tweet responding to the news, saying: “Supporting Doge wherever possible.” Elon Musk’s tunnel construction firm The Boring Company (TBC) has begun allowing customers to pay for rides on its Las Vegas transit system using Dogecoin.A July 6 report from CNBC said the new payment option via Bitpaysurfaced on Friday, a day after the opening of its new Loop station at the Las Vegas Convention Center. While the Boring Company has not officially confirmed the new payment method, founder Elon Musk seemingly did when he responded....

Bank of England: Crypto Needs Enhanced Regulatory and Law Enforcement Frameworks

The Bank of England says “extreme volatility” in the crypto market “underscores the need for enhanced regulatory and law enforcement frameworks.” The British central bank has warned that crypto prices could fall further. Bank of England Calls for Enhanced Crypto Regulation The Financial Policy Committee of the British central bank, the Bank of England (BOE), said Tuesday that the “extreme volatility” in crypto prices in recent months underscores vulnerabilities in the crypto market, Bloomberg reported. Citing a $2 trillion reduction in the total....

Crypto owners banned from working on US Government crypto policies

A new legal advisory notice from the US Office of Government Ethics prohibits any employee who owns cryptocurrency from working on Federal crypto regulation. US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets.A new advisory notice released by the US Office of Government Ethics (OGE) on Tuesday stated that the de minimis exemption — which allows for the owners of securities who hold an amount below a certain threshold to work on policy related to that security — is universally....

Korean startup Uprise lost $20M shorting LUNA

The crypto custodial service and AI trading platform managed to lose nearly all of its customers’ assets by shorting LUNA, the Terra Classic native token. South Korean crypto investment startup platform Uprise reportedly lost around 99% of its assets worth about $20 million when it got liquidated shorting the LUNA token.Uprise's trading desk Heybit uses an artificial intelligence (AI) trading system that was designed to reduce the risks associated with leveraged trading. Local news outlet Seoul Economic Daily reported on July 6 that Uprise’s AI, which it calls a robo-advisor, made a....

From FIRE To Bitcoin: One Canadian’s Journey To Bitcoin

A one-year retrospective from a Canadian Bitcoiner who lived through the Freedom Convoy in Ottawa and found a lifeline in the Bitcoin community.This is an opinion editorial by Boomer, a long-time and active member of the financial independence/retire early (FIRE) movement and a contributor at Bitcoin Magazine.It has been exactly one year since I started my Bitcoin journey, and after being inspired by meeting several amazing Canadian Bitcoiners over the past few weeks, I want to share my story. In some ways, my orange-pilling has been the greatest thing to ever happen to me, but it has also....

TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K

Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730. Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is a close above the $20,580 level. Bitcoin Price Aims Fresh Increase Bitcoin price stayed well....

Bank of America’s Active Crypto Users Drop More Than 50% in Bear Market

Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into crypto platforms.” Bank of America’s Active Crypto Users Bank of America published a report last week showing a steep decline in the number of active cryptocurrency users from its peak in November last year. The bank explained:....

Sepolia testnet Merge mostly successful — 'Hiccups will not delay the Merge.'

Merge trials on testnets are essential to allow Ethereum developers and independent project developers to understand what they can expect when the actual Merge takes place. Ethereum has now completed its second-to-last major Merge trial on the public test network Sepolia, paving the way for its transition to the proof-of-stake (PoS) consensus mechanism.While it's been judged mostly a success, it was not incident free.The final trial of the Merge is set to occur on the Goerli network over the next few weeks before the official Merge on the Ethereum mainnet can be given the go ahead.....

Bitcoin-friendly Próspera hits back at controversy in The Guardian

Some residents have reportedly told the crypto-friendly city of Próspera to “go home” following the Honduran government’s repeal of the ZEDE legislation which enabled it. The leadership of the crypto-friendly charter city of Próspera in Honduras has hit back at reports it is facing a backlash from residents of the neighboring community of Crawfish Rock over its expansion plans.A July 5 article from The Guardian reported the special economic zone, touted as an island paradise with low taxes/fiscal responsibility, luxury homes and crypto-friendly regulation has seen pushback from some....

Elon Musk’s Boring Company to Accept Dogecoin Payments for Rides on Las Vegas...

Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on its Las Vegas transit system Loop. Musk confirmed that he is “supporting Doge whenever possible.” Tesla already accepts the meme crypto for some merchandise and Spacex will soon follow suit. Elon Musk’s Boring Company to Accept Dogecoin Payments The Boring Company, founded by Tesla CEO Elon Musk, will accept the meme cryptocurrency dogecoin for rides on Loop, its Las Vegas transit system, CNN reported Wednesday. Musk previously said that The Boring Company’s....

What I Discovered About Bitcoin Culture On The Bitcoin Tour

Journeying across the United States and visiting various Bitcoin meetups showed certain aspects of Bitcoin culture are consistent regardless of location.Over the last 10 weeks, I traveled over 8,000 miles of the United States by motorcycle, visiting 25 Bitcoin meetups in Texas, the South and the Midwest. I am not done yet, but I wanted to share a few of my thoughts while the memories are still fresh, so you and your friends and family can understand what I am learning about the culture developing around Bitcoin. If you want to follow my journey or donate, go here. If you want your friends....

Bitcoin Sets Record For Worst Quarter Since 2011, What’s Next?

The second quarter of the year was dramatically bloody for Bitcoin. The coin ended Q2 down by 56% with the price dropping from $45,000 to $19,900, experiencing its worst quarter since Q3 2011. Bitcoin is now playing with its $20k level, a key zone. A Historic Decline For Bitcoin Bitcoin had a 37% decline during June. But it is not just the numbers that have been gloomy. June was also the month of the unsurprising rejection of Bitwise and Grayscale’s spot-based bitcoin ETF applications –immediately followed by Grayscale’s promised lawsuit–. Moreover, the effects of the Terraform....

Bitcoin price holds $20K, but analysts say ‘expect 6 months of sideways’ pric...

BTC bulls are holding $20,000, but most traders are confident that the price will remain range-bound for at least six more months. Trading across the cryptocurrency market was relatively subdued on July 5 as the ecosystem continues to digest the fallout from the Three Arrows Capital scandal and Voyager Digital announcing that it has filed for Chapter 11 bankruptcy protection. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has spent the day oscillating around the $20,000 support level, ranging from a low of $19,775 to an intraday high of $20,480 on....

Inverse Bitcoin ETF Sees 300% Increase In Short Interest

Bitcoin ETFs had been seeing a lot of interest since they were first given the green light by the Securities and Exchanges Commission (SEC) last year, and while some of them have waned, they still remain a good option for institutional investors wanting to bet on the digital asset but not hold any of it […]

SEC Still Against Spot-based Bitcoin ETFs. Is There A Light At The End Of The...

With the approvals of futures bitcoin ETFs, firms have taken it one step further and have applied with the Securities and Exchanges Commission (SEC) for spot-based bitcoin ETFs. However, unlike their futures and short counterparts, the spot ETFs have not found favor in the eyes of the regulatory watchdog. And as more spot-based bitcoin ETF applications are declined by the SEC, questions have arisen about whether the market will see one anytime soon. Grayscale And Bitwise Applications Rejected Over the last month, anticipation had built up regarding spot-based Bitcoin ETF filings by both....

Demand for Hardware Crypto Wallets Increases Amid Currency Restrictions in Ru...

Hardware wallets designed to securely store cryptocurrency have seen a several-fold increase this spring in Russia, on the backdrop of currency restrictions introduced amid foreign sanctions. Ledger and Tangem have been the most popular products on the market, a media report revealed. Russians Buy More Hardware Crypto Wallets, Market Players Say Russian crypto users have sought to purchase up to eight times more hardware wallets in March – April 2022 over previous periods, the daily Vedomosti reported, quoting representatives of the Tangem wallet developer, the retail chain....

Coming to Texas: Riot Blockchain announces plans to move NY miners to Lone St...

Moving rigs from New York to Texas was part of Riot's effort to reduce the firm’s operating expenses through lower power costs and eliminate “all third-party hosting fees.” Crypto mining firm Riot Blockchain said it has begun relocating rigs from its New York data facility, with the majority intended to end up in central Texas.In a Wednesday announcement, Riot said it has transitioned some of its mining rigs from a Massena, New York facility — named Coinmint — as part of an effort to reduce the firm’s operating expenses through lower power costs and eliminate “all third-party hosting....

Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Marke...

Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “​​rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over the market like a cloud.” OTC Firm Cumberland Says Markets Will Return to a Healthy State Once Distressed Assets Are Transferred From the....

Belgian regulator reviews crypto asset classifications while awaiting harmoni...

The Belgian Financial Services and Markets Authority created a chart to differentiate crypto asset securities, investment instruments and financial instruments. The Financial Services and Markets Authority (FSMA), the Belgian regulator, is seeking comments on its communication on the classification of crypto assets as securities, investment instruments or financial instruments. Aimed at issuers, offerors and service providers, the agency’s communication will serve as guidance to the existing order until European regulatory harmonization is achieved. The communication is meant to address....

Worst Quarterly Bitcoin Crash In A Decade Closes Above Key Support

Last week, when the June monthly candle came to a close in Bitcoin, it also signaled the end to the second quarter of the year and its first half. The top cryptocurrency suffered its worst quarterly decline since 2011, but it ultimately held above a key support level. Here is a closer look at the quarterly support level currently holding in BTCUSD and how it has put in nearly ever major bottom in the past. Bitcoin Crash Falls To Level Where Bear Markets Bottom Throughout the 2018 bear market, a primary narrative giving hope to bag holders, was the fact that institutions would eventually....

How This Elon Musk Company Has Enable DOGE Payments For Las Vegas Transportation

Elon Musk-owned Boring Company has enabled Dogecoin (DOGE) payments for Loop. The new payment option will allow customers to pay for rides on the Tesla-powered Las Vegas transit system. Related Reading | Cardano Technical Architect: “We Have Many New Technical Development In The Pipeline” These rides let people take a ride around the city at 35 […]

Will Marathon Digital Join Other Miners In Selling Bitcoin? CEO Weighs In

Marathon Digital is among the few miners to not have sold any of its bitcoin treasury during the latest market crash, but how long will that last?Bitcoin miners have historically sold BTC as they produced it to cover operating costs. But over the past couple of years a “HODL” strategy has permeated the industry as participants have opted to pay off expenses with debt instead.Miners racked up much bitcoin- and equipment-backed financing to raise a combined $4 billion in capital for daily expenditures as bids to keep increasing bitcoin treasuries rose in the industry.While that strategy....

NFTs to authenticate racing car parts: Nifty Newsletter, June 29–July 5

The most-followed TikTok creator Khaby Lame also partnered with Binance to create Web3 content and create nonfungible tokens with the exchange. In this week’s newsletter, read about Binance’s partnership with the most-followed TikToker Khaby Lame. Check out how Vincenzo Sospiri Racing will use NFTs to authenticate car parts and how NFTs will gradually appear on Facebook and other Meta-owned apps. Meanwhile, an NFT licensing platform that aims to connect Bored Ape Yacht Club (BAYC) owners to brands has noted that hundreds have signed up. And, don’t forget about this week’s Nifty News....

Bitcoin Bear Market Sends On-Chain Metrics Into Sideways Trend

Data shows the Bitcoin bear environment has caused the market to become inactive as transaction fees continues to be extremely low. Bitcoin On-Chain Activity Remains Low As Price Action Stays Stale As per the latest weekly report from Arcane Research, the last week saw the lowest average daily transaction fees since April 2020. The “transaction […]

Price analysis 7/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

Bitcoin and select altcoins are making an attempt at flipping key resistance levels, but negative news-flow and selling from BTC miners could continue to weigh on market sentiment. Bitcoin (BTC) is attempting to rise above the psychological level of $20,000 on July 6, a sign that bulls are trying to stall the brutal bear market. The retail traders are making the most of the current fall and are on a buying spree. Proof of this comes from Glassnode data, showing that wallets holding less than one Bitcoin scooped up 60,460 Bitcoin in June, at “the most aggressive rate in history.”In a recent....

Bitmain Launches 2,400 Megahash E9 Ethereum Miner Ahead of The Merge

On July 6, the crypto mining rig manufacturer Bitmain announced the launch of the highly anticipated Antminer E9 after revealing the device on April 15, 2021. The machine boasts speeds of up to 2.4 gigahash per second (GH/s) and Bitmain is selling the device for $9,999 per unit. Bitmain Launches Antminer E9 for $4.17 per Megahash 447 days after revealing the Antminer E9, Bitmain has finally launched the product. The company announced the launch on July 6, 2022, and said “[The Antminer E9] is equipped with a hashrate of 2,400 [MH/s], 1920W power efficiency, and power efficiency of....

The Russian Black Bag

While Putin reaps a whirlwind, ordinary Russians look to bitcoin to try to weather the storm.This article originally appeared in Bitcoin Magazine's "Censorship Resistant Issue." To get a copy, visit our store. If the world around you collapsed overnight, it’s easy to imagine you would have a plan. Many people would pack their bags and get on the next flight out to start a new life somewhere better. But when society breaks down slowly, it is harder to know when it's time to go. Sure, the shelves are bare now, but it’s only because of the panic buying. The government may have passed laws....

Cardano Technical Architect: “We Have Many New Technical Development In The P...

Input-Output Global’s (IOG) Principal Technical Architect for Cardano Duncan Coutts shared his views on the state of the blockchain and its upcoming upgrades. In an interview with CityAM, Coutts highlighted the innovations happening on the network and what the upcoming Vasil Hard Fork has in store. Related Reading | Jordan Belfort, The ‘Wolf Of Wall Street,’ […]

How This Company Lost 99% Of Its Clients Funds Shorting LUNA

Per a report from Sedaily, the trading arm of Korean startup Uprise has lost of all its clients’ funds. The platform was used by wealthy individuals and institutions to trade crypto futures contracts via an artificial intelligence (AI) tool. Related Reading | Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000 According to the report, Uprise advertised its AI trading tool as high operational stability and a high-risk management alternative. In addition to losing its clients’ funds, the company was reported to record a loss of around $30 million from its own....

British Treasury To Hammer Out Crypto Law Despite Bank Of England’s Doubts

In April of last year, the British Treasury unveiled a number of efforts aimed at establishing the United Kingdom as a premier destination for crypto technology and investments. In a press release that month, the Chancellor of the Exchequer, Rishi Sunak, stated that the steps described will help ensure that companies can “invest, develop, and […]

3 Safe Alternatives To BlockFi

Several top-tier crypto lending platforms have found themselves in a pickle lately. BlockFi is affected by the recent bankruptcy filing of Three Arrows Capital (3AC), creating issues for its users. Now is a good time for affected users to look into more viable alternatives and ensure their funds are safe. BlockFi Is In A Pickle […]

Exodus of pro-crypto financial regulators in UK amid allegations of misconduc...

In his resignation letter, Economic Secretary to the Treasury John Glen said that “vital reforms" to the country’s financial services were ready to be presented to Parliament. Many officials responsible for regulating the United Kingdom’s financial system have resigned following allegations Prime Minister Boris Johnson exercised “poor judgement” in appointing a member of the government. In a letter to Johnson posted to Twitter on Wednesday, Economic Secretary to the Treasury John Glen said his decision to resign was prompted by “recent events concerning the handling of the appointment of....

Sentient AI Does Not Equal Intelligent AI – Tau Uses Logic to Make Machines T...

You’ve probably heard about Google’s LaMDA and the viral discussion about whether an AI can become sentient. The team at Tau argues that maybe, sentience of an AI is only a small part of its intelligence. Rather, the true intelligence of AI will be based on its ability to logically understand the needs of people and automatically satisfy them. Tau is the first-ever platform that will be able to take the thoughts, advice, and knowledge of its users and update its own software in real-time by having its users write in languages that both machines and people can read and....

LBank Exchange Will List IX Token (IXT) on July 7, 2022

PRESS RELEASE. INTERNET CITY, DUBAI, Jul. 6, 2022 – LBank Exchange, a global digital asset trading platform, will list IX Token (IXT) on July 7, 2022. For all users of LBank Exchange, the IXT/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on July 7, 2022. As an NFT-based strategy gaming platform, Planet IX builds a place where players can explore the world, collect NFTs, trade them on its marketplace, challenge each other in Play-to-Earn games and reap rewards from various DeFi functionalities, while creating a sustainable real-world impact. Its native....

GAIMIN Launches 5 New Interoperable, Cross-Game Utility NFTxg’s

PRESS RELEASE. Zug, Switzerland, 6th July 2022: GAIMIN’s NFTxg solves the gamers key problem – how to build up an in-game inventory of assets able to be used across a number of different AAA games. GAIMIN has developed technology to allow game-based utility NFTs to be used within different games simultaneously, allowing users to build up and own their reusable NFS gaming assets, retain their investment in gaming and utilize NFT and blockchain technology, such as smart contracts, to manage their NFT use. GAIMIN is the world’s first company to solve this key gamer....

Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000

Bitcoin has been struggling for the last month and has struggled to hold the $20,000, losing its footing multiple times. Through this time, altcoins, while having followed the digital asset on the way down, had begun to gather momentum through the small recoveries recorded over the last couple of weeks. As July draws in on its first weekly close, performance across the market has shown that bitcoin is getting left behind. Altcoins Take The Lead The altcoins had been the worst losers of the downtrend. Although all of the indexes including bitcoin had seen losses into the double-digits, the....

Decline In Bitcoin Active Addresses Suggests Market Is Purging Paperhands

With the bitcoin bull market back in 2021 had come a lot of what is referred to as ‘bitcoin tourists’. These are investors who are moved by the gains being made in the market and begin to FOMO (fear of missing out) on the digital asset as the price grew. Now that the bear market […]

Israeli Crypto Company Etoro Lays Off 100 Workers, SPAC Deal Terminated, Comp...

The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 million to $1 billion. Etoro Cuts Staff, SPAC Deal Canceled The Tel Aviv, Israel-based social trading and crypto investment platform Etoro is laying off around 6% of the firm’s staff. The company’s CEO and co-founder Yoni....

DeFi protocol Porter Finance shuts down bond issuance platform after just one...

The firm cited better interest rates from traditional finance loans and regulatory risks in mulling the bond platform. Porter Finance, a decentralized finance, or DeFi, protocol based on the Ethereum (ETH) blockchain, announced Tuesday that it was shutting down its bond issuance platform. In explaining the discussion, Porter Finance said:"Looking forward, we are not confident there will be large inflows of lending demand for fixed income DeFi products like the ones offered through Porter Finance. This is primarily due to the competitiveness of rates offered in traditional finance and the....