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Spot Volumes Rise on Centralized Exchanges but Traffic Falls Further, Report

Spot and futures trading volumes on centralized crypto exchanges (CEXs) have increased in June, a new report shows. At the same time, website traffic to major trading platforms for digital assets continued to decline, according to the study which…

Experts Warn of Impending Recession in the US as Survey Reveals 59% Chance by July 2024

A recently published survey by Bankrate reveals that there is a 3-in-5 likelihood of a recession occurring in the United States within the next year. Bankrate’s survey of economists firmly indicates that the chances of a recession taking…

Predicting the Unpredictable: AI Chatbot Claude Outlines Potential 2024 Prices for Top 40 Crypto Assets

Two weeks ago, Bitcoin.com News used six artificial intelligence chatbots to predict the price of bitcoin (BTC) by the end of 2023. After the release of Anthropic’s Claude 2 in July, we conducted another experiment, tasking Claude with…

FTC Slaps Crypto Lender Celsius With $4.7B Fine for Deceiving Consumers and Mismanaging Deposits

On Thursday, following the U.S. Securities and Exchange Commission (SEC) suing the insolvent crypto lender Celsius, the Federal Trade Commission (FTC) divulged a settlement with the firm and imposed a $4.7 billion fine for “duping consumers.”…

SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices

The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company…

US Judge Rules XRP ‘Not Necessarily a Security on Its Face,’ Sending XRP Supporters Into Celebration

According to a recent ruling handed down by U.S. judge Analisa Torres, the crypto asset XRP is not “necessarily a security on its face.” In the ruling, both parties, the U.S. Securities and Exchange Commission (SEC) and Ripple…

BIS Report Cites ‘Inherent Limitations’ of Cryptocurrencies; Questions Their Role in Global Economy

The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network…

Bitcoin, Ethereum Technical Analysis: Bitcoin Consolidates Below $31,000, as Traders Digest Recent Economic Data

Bitcoin retreated from recent gains on Thursday, as traders were unable to sustain a breakout of a key resistance level. Market volatility has risen following yesterday’s U.S. inflation report, which dropped to a two-year low. Ethereum was…

US Authorities Accuse Former Security Engineer of Siphoning $9 Million From Defi Platform

Authorities in the United States recently revealed that law enforcement has arrested Shakeeb Ahmed for “wire fraud and money laundering in connection with his attack on a decentralized cryptocurrency exchange.” The U.S. Attorney for the…

Temasek Has No Immediate Intentions to Invest in Crypto Exchanges After FTX Loss

Singapore’s state-owned investment fund Temasek does not plan to put money into crypto firms amid the current regulatory uncertainty, according to a top executive. The statement comes months after Temasek lost $275 million from its involvement in…

Binance US Reacts to Bitcoin Cash FUD, Assures Users Their Funds Are Safe

Binance’s U.S. platform has rejected rumors regarding its bitcoin cash (BCH) reserves, reassuring customers that their funds are safe. On Sunday, the exchange restored BCH withdrawals after a brief suspension attributed to a technical issue…

Bank of China Expands Digital Yuan Testing to SIM Cards and NFC Payments

The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the…

Western Sanctions on Russia Demolish Global Trade System, Cause Inflation Surge, Says Russian Banker

Russia’s second-largest bank’s chairman says by imposing sanctions on Russia, the West has “demolished the global trade system and caused an inflation surge.” Pointing to the U.S. banking crisis as an example, he stressed: “This is virtually the

US Inflation Hits Two-Year Low, Boosting Stocks and Precious Metals

On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months…

Economist Predicts End of US Dollar Dominance as More Countries De-Dollarize

The chief economist at S&P Global has predicted that the U.S. dollar “will no longer be the dominant world currency.” Highlighting the diminishing influence of the USD, he pointed out that an increasing number of countries are de-dollarizing…

US Government Transfers $300 Million Worth of Seized Silk Road Bitcoins

On July 12, 2023, onchain data shows the U.S. government transferred 9,800 bitcoins (BTC), worth just over $300 million. These bitcoins originally came from James Zhong’s Silk Road hack. In March, the Department of Justice also moved a…

Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks

The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the…

Silk Road Advisor Sentenced to 20 Years in Prison While a Rogue Double-Agent Eludes Capture

On Tuesday, July 11, 2023, the U.S. Attorney’s Office for the Southern District of New York, led by attorney Damian Williams, announced a 20-year prison sentence for Roger Clark. Clark was allegedly the senior advisor to the original Silk…

Bitcoin, Ethereum Technical Analysis: Bitcoin Pushes Towards $31,000 as US Inflation Is Expected to Fall

Bitcoin moved towards $31,000 on Wednesday, ahead of June’s inflation report from the United States. Consumer prices are expected to fall to 3.1%, down from May’s reading of 4.0%. Ethereum also edged higher, as the cryptocurrency…

Central Banks Controlling Money Is Not Democracy, Balaji Srinivasan Says

If central banks control all uses of money, this is not democracy, Coinbase’s ex-tech chief Balaji Srinivasan is convinced. The entrepreneur commented on statements by the head of the Bank of International Settlements during an IMF meeting devoted…

BIS Survey: 93% of the World’s Central Banks Are Engaged in CBDC Work

The Bank for International Settlements (BIS), an organization that seeks to support the international cooperation of the world’s central banks, has released the results of its 2022 survey on central bank digital currencies (CBDC) and crypto…