Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sep. 7. But bull trap risks are abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis. Cathie Wood: “Deflation in the pipeline” The Tesla CEO tweeted over the weekend that a major Federal Reserve interest rate hike could
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Bitcoin (BTC) starts a pivotal week on a firm footing as bulls succeed in wiping out weeks of losses. After closing the latest weekly candle at $21,800, its highest since mid-August, BTC/USD is back on the radar as a long bet. The end to an extended period of downside interspersed with sideways price action now
press release PRESS RELEASE. In the face of financial regulators’ overall negative attitude toward digital assets, P2P marketplaces have become the platforms of choice across Africa. As the world leader in P2P cryptocurrency exchange, Kenya has drawn much attention from many P2P exchange service providers. Bitpapa is one of them, and it has recently entered
The Algorand Foundation has revealed a $35 million USDC hole in its balance sheet as a result of exposure to embattled cryptocurrency lending firm Hodlnaut, which has paused withdraws since Aug. 8. Algorand is an institutional-grade blockchain infrastructure with embedded smart contract functionality. The Algorand Foundation is a not-for-profit community organization focused on developing the
Dario Nieto, a lawmaker in the city of Buenos Aires, has introduced a bill that would use blockchain systems to make social aid payments in order to bring clarity to these activities. Nieto has complained about the different intermediaries that use these social campaigns to make money and how introducing blockchain might eliminate these activities.
As the upcoming Terra Classic (LUNC) burning mechanism gained more hype, some crypto exchanges thought it would be a good idea to express their support. However, the crypto community quickly responded, calling out the exchanges for what some believe to be public relations stunts. On Sept. 1, Terra community member Edward Kim submitted a proposal
As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer. Typing any variation of “Ethereum Merge” or “The Merge” into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current
Russia’s leading technology company, Rostec, is working on a project to integrate digital assets into cross-border trade. The state-owned corporation says the market is interested in cryptocurrency payments which can reduce sanctions pressure on Russian exporters and importers. Rostec Eyes Russky Island for Trials of Digital Currency Payments The largest Russian industrial and technology conglomerate,
While on-chain insurance has been around since 2017, only a measly 1% of all crypto investments are actually covered by insurance, meaning the industry remains a “sleeping giant,” according to a crypto insurance executive. Speaking to Cointelegraph, Dan Thomson, the CMO of decentralized cover protocol InsurAce said there is a massive disparity between the total
Australians have continued getting duped by investment and crypto-related scams, losing 242.5 million Australian dollars to scammers so far in 2022, according to Scamwatch’s latest data. From January to July of this year, the majority of all funds lost to scams of all types were investment scams, which range from romance baiting scams to classic
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, revealed that he has asked staff at the SEC to fine-tune compliance for crypto tokens and intermediaries. He emphasized that the vast majority of crypto tokens are securities. SEC Chairman Gary Gensler on Crypto Regulation Gary Gensler, the chairman of the U.S. Securities
Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit. Speaking to Cointelegraph, the security researcher explained that unlike proof-of-work (PoW) systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to
Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Musk’s warning followed an analysis by Ark Invest CEO Cathie Wood, who cautioned that “Leading inflation indicators like gold and copper are flagging the risk of deflation.” Elon Musk, Fed Rate Hikes, and Deflation
With The Merge coming next week and Cardano’s Vasil hard fork commencing soon after, the market capitalization of the top smart contract tokens by valuation increased 1.19% during the past 24 hours to $316 billion on September 11, 2022. Moreover, the market capitalization of the top smart contract crypto assets today has increased 44.35% against
Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food
The United States equities markets rallied sharply last week, ending a three-week losing streak. The S&P 500 rose 3.65% last week while the Nasdaq Composite soared 4.14%. Continuing its close correlation with the U.S. equities markets, Bitcoin (BTC) also made a strong comeback and is trying to end the week with gains of more than
In roughly three days Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version via The Merge. Ahead of the transition, the liquid staking project Lido has seen a lot more activity as the value locked in the protocol increased by more than 13% this week. Moreover, the project’s
Rap star Jay-Z, otherwise known as Shawn Carter, and Block CEO Jack Dorsey, recently airdropped bitcoin to members of the Bitcoin Academy in Brooklyn. Jay-Z’s mother, Gloria Carter explained in a statement that a myriad of residents from Brooklyn’s Bedford-Stuyvesant participated, and more than 350 people attended the crypto classes. Hundreds of Brooklyn Residents Attend
Bitcoin mining operations continue to truck on through the crypto winter as a number of miners have revealed expansion plans during the last week. Following the acquisition of 10,000 ASIC Antminers, Cleanspark revealed it acquired a turnkey bitcoin mining facility from Mawson Infrastructure. Reports note that Arsenal Digital Holdings acquired an underground data center outside
Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. LUNA rising from the dead? After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price