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Payments in National Currencies Surge to 92% Among SCO Members
1.9.2024
Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which includes Russia, China, India, and recently added Iran...
Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade
1.9.2024
Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating...
Arthur Hayes Predicts Bitcoin Boom as Central Banks Cut Interest Rates
1.9.2024
Bitmex co-founder Arthur Hayes is optimistic about bitcoin’s future, citing recent interest rate cuts by central banks. He believes further rate cuts by the U.S. Federal Reserve, Bank of England, and European Central Bank could expand the money supply and drive inflation. Hayes argues that...
Dogecoin Manipulation Lawsuit Against Elon Musk and Tesla Dismissed
1.9.2024
Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of manipulating the price of dogecoin (DOGE) for personal gain. A U.S. District Judge in Manhattan ruled that the plaintiffs failed to provide convincing evidence, despite multiple revisions of their claims. The lawsuit...
Tanzania Reportedly Blocks X Amid Opposition Crackdown
1.9.2024
The East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition...
South Korea’s Bitcoin Premium Persists Amid Market Volatility
31.8.2024
Despite recent turbulence in the crypto market, bitcoin’s price continues to carry a premium in South Korea. As of 4 p.m. EDT, bitcoin is trading at $59,002 per unit, but in South Korea, the exchange rate hits $59,900, reflecting a 1.52% premium. Despite First Negative Dip Since Oct. 2023...
Nigerian Blockchain Leader: Approval of 2 Crypto Exchanges Brings Much-Needed Regulatory Clarity
31.8.2024
A Nigerian blockchain industry leader has described the recent approval of two crypto exchanges by the securities regulator as a positive step that improves the image of Nigeria’s crypto space. The leader believes clear regulations will attract foreign investors and benefit Nigerian...
UBS Predicts Further Weakening of US Dollar
31.8.2024
UBS predicts further depreciation of the U.S. dollar due to narrowing interest rate differentials, ongoing U.S. fiscal deficit concerns, and a shift in global central bank strategies. Despite a brief rally, UBS has downgraded the U.S. dollar to its Least Preferred status, while upgrading the euro...
Block Scholes and Bybit Report Highlights Stability in Crypto Derivatives
31.8.2024
A recent study by Block Scholes and Bybit reveals a resilient crypto derivatives market, despite recent market turbulence. The report provides insights into futures, options, and perpetual contracts, emphasizing the sector’s ability to withstand significant market events. Futures Market...
Bukele States Bitcoin Was an Effective Rebranding Tool for El Salvador
31.8.2024
President Nayib Bukele pondered how El Salvador adopted the bitcoin banner and evaluated how it has fared for the country so far. In a recent interview given to Time magazine, Bukele admits that while Bitcoin adoption has not grown as he expected, adopting bitcoin as a legal tender worked as...
$2 Billion Milestone Reached in Tokenized Treasury Bonds
31.8.2024
The U.S. Treasury bond-backed token economy has recently crossed a significant milestone, now exceeding $2 billion in value. Among the various projects contributing to this total, Blackrock and Franklin Templeton’s tokenized funds stand out, commanding a dominant 44.95% share of the net value....
Forget Airline Miles: Are Crypto Casinos Like Cloudbet Reinventing the Rewards Game?
31.8.2024
For decades, loyalty programs have been a staple of customer retention strategies across various industries. From airline miles to hotel points, these programs have promised consumers a tangible return for their loyalty. But as the digital landscape evolves, a new breed of loyalty programs...
Trump’s World Liberty Financial Launches ‘Epic’ Meme Contest as Telegram Channel Hits 100K Members
31.8.2024
The Trump family’s decentralized finance (defi) venture, World Liberty Financial, which has been shrouded in secrecy for quite a while, has now revealed another development—the launch of an “epic meme contest.” The news broke on the social media platform X, where the World Liberty Financial...
Ethereum’s Gas Fees Remain Low While Network Turns Inflationary
31.8.2024
According to recent metrics, Ethereum’s onchain fees continue to stay impressively low, with the average transaction cost this weekend at just 0.00029 ETH or $0.743. Etherscan reports that even high-priority fees are under 1 gwei, sitting around 0.972 gwei as of press time. Additionally...
As Bitcoin Holds Near $60K, Will a Wedge Pattern Signal the Next Big Move?
31.8.2024
Amid the constant ups and downs near the $60,000 level, Bitcoin remains highly volatile near the psychological mark.…
Bored Ape Yacht Club Leads the Week’s Priciest NFT Sale Despite Overall Market Dip
31.8.2024
While non-fungible token (NFT) sales saw a 24% boost the week before, the last seven days have witnessed a 4.3% dip. Meanwhile, the number of NFT buyers jumped by 31.48%, with sellers also on the rise by 25.86%. NFT Sales Drop 4.3%, But Buyer and Seller Participation Increased This past week,...
Friday Market Recap: Ether ETFs See Zero Gains as Bitcoin ETFs Bleed $175 Million
31.8.2024
Spot bitcoin exchange-traded funds (ETFs) faced another round of outflows as five funds pulled out $175.67 million. At the same time, despite a trading volume of $173.66 million, ether ETFs saw no net gains or losses on Friday. Bitcoin ETFs Lose $175 Million; Ether ETFs Show No Change Bitcoin ETFs...
Top TON Coins Face Turbulent Week Amid Durov Arrest and Network Disruptions
31.8.2024
Over the past week, The Open Network (TON) ecosystem has encountered a series of setbacks due to a wave of unfavorable news. The turbulence began with the arrest of Telegram founder Pavel Durov, followed by two significant outages on the blockchain network that brought block production to...
Washington Man Faces Charges in $64 Million Crypto Laundering Scheme
31.8.2024
A Washington resident has been charged with involvement in a $64 million cryptocurrency laundering scheme. He allegedly deceived investors, posing as an escrow agent, and transferred funds into his accounts. The funds were moved offshore or converted to cryptocurrencies such as bitcoin and ethereum...
Bankrupt Bitcoin miner Rhodium gets court approval for loan in BTC or USD
31.8.2024
The company was authorized to choose between receiving $30 million or 500 Bitcoin loan from Galaxy Digital