US Lawmakers Push for CFTC Action Against Election Gambling Amid Polymarket’s Rise
A group of Democrat lawmakers, including Massachusetts Senator Elizabeth Warren, has penned a letter to Commodities and Futures Trading Commission (CFTC) Chairman Rostin Behnam, urging the agency to prohibit all forms of election-related gambling…
Crypto Gaming Showdown: Why Lovely Legends is Set to Outshine Hamster Kombat
PRESS RELEASE. The cryptocurrency gaming sector is witnessing an intense rivalry between two notable titles: Hamster Kombat and Lovely Legends. As the competitive landscape evolves, industry experts are increasingly recognising Lovely Legends as…
Wazirx Announces FIR Filing Following Major Cyberattack
Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the…
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such…
Meme Coin Prices Rebound as Brett, Pepe, Base Dawgz See Big Gains
Meme coins have made a dramatic comeback in the past 24 hours. After a brutal downturn, these tokens are on the rise again, led by Brett, Pepe, and the upcoming Base Dawgz. Brett Bounces Back from Key Support Level Brett (BRETT) has experienced a…
US Spot Bitcoin ETFs See Red: Grayscale’s GBTC and Top Funds Hit Hard
On Monday, unlike their ethereum counterparts, spot bitcoin exchange-traded funds (ETFs) witnessed outflows totaling $168.44 million. The primary contributors to this decline were three funds, with Grayscale’s GBTC taking the lead in…
US ETH ETFs Draw $48.73M on Monday; Grayscale’s $46.84M Outflow Dampens Impact
On Monday, U.S. spot ethereum exchange-traded funds (ETFs) recorded their second-highest inflows since their inception. Approximately $48.73 million was added, yet the nine funds collectively remain in the red, with a deficit of $461.98 million…
Egyptian AI Startup Gets $2M for GCC, Africa Expansion
Egyptian artificial intelligence firm Synapse Analytics has secured $2 million to expand into the Gulf Cooperation Council region and Africa. The company has partnered with major banking product providers such as AWS, Crealogix, and TUMM. Using AI…
Cointelegraph and CryptoQuant Research Reveal TRON’s Inelastic Activity, Maintaining Stability
PRESS RELEASE. Geneva, Switzerland – August 6th, 2024 – Leading crypto media research arm Cointelegraph and leading crypto research platform CryptoQuant have released comprehensive research reports offering in-depth analyses of the…
Financial Analyst States Bitcoin Is ‘Not a Hedge Against Anything’
Jacob King, a financial analyst at Whalewire, has stated that he doesn’t consider bitcoin a hedge “against anything.” King stressed that “crypto itself was entirely propped up by stable coin fraud. I warned it would crumble…
Capula Management Invests $464 Million in Bitcoin ETFs, Signaling Institutional Interest
Capula Management, one of the largest hedge funds in Europe with assets under management (AUM) of approximately $118 billion, has made a significant move in the cryptocurrency market by investing $464 million in spot Bitcoin exchange-traded funds…
Coinshares Sees $528 Million Outflow From Crypto Products Due to Recession Fears
Coinshares, a digital asset investment firm, has reported a significant $528 million outflow from its crypto products last week, driven by growing recession fears. This substantial withdrawal reflects the heightened market uncertainty and investor…
East African Scientists Use AI for Accurate Extreme Weather Forecasts
Climate scientists in East Africa are integrating artificial intelligence (AI) into traditional weather forecasting methods to enhance the accuracy of extreme weather predictions. The region faces increasing frequency and severity of extreme…
Coinwire Report: Latam to More Than Double Its Crypto Trading Levels This Year
A recent report by Coinwire, a cryptocurrency research portal, predicts that cryptocurrency adoption levels in Latam will more than double in 2024. The report, which examined trading movements on trusted centralized exchanges according to…
Fedwatch Tool and Polymarket Point to Highly Probable Rate Cuts by the Fed
Following the recent volatility in global equity markets, some analysts suggest that the U.S. Federal Reserve might implement an emergency rate cut before September. In addition, market predictions are leaning toward a rate cut at the September…
Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking…
French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation
The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This…
Wharton Professor Calls for Emergency Rate Cut Following Market Downturn
Jeremy Siegel, a finance professor and chief economist, has called for an emergency 75 basis point cut in the fed funds rate following a market downturn. He emphasized the necessity of this cut and suggested another rate cut next month to align…
The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button…
Latam Insights Encore: El Salvador’s Proposal Opens the Door for Crypto-Based International Settlements
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with…
Saudi Arabia Becoming Hub for Web3 Startups Seeking Investment, Report Says
Saudi Arabia’s emergence as a top venture capital investment destination in the Middle East and North Africa offers an opportunity for Web3 startups seeking funding. However, the latest Adaverse report acknowledges that the Saudi Web3 industry…
Feasibility of Trillion-Dollar Platinum Coin Discussed by US Government, FOIA Documents Show
The trillion-dollar coin, an idea that surged as a solution to raising the U.S. debt ceiling on more than one occasion, was recently revealed to have been considered by the government several times. Memos obtained via FOIA requests by journalist…
TOKEN2049 Singapore Set to Be World’s Largest Web3 Event With 20,000 Attendees And Over 500 Side Events
PRESS RELEASE. SINGAPORE — 5th August, 2024 — TOKEN2049, the world’s largest crypto event, announced its first batch of headline speakers and prominent title sponsors ahead of its eagerly anticipated return to Singapore. TOKEN2049 will take place…
Global investment bank Goldman Sachs has increased the likelihood of a U.S. recession within the next year to 25% from the previous 15%, although they maintain that the risk remains limited. Despite the recent rise in unemployment to its highest in…
Following the Crypto Downturn, Market Observers Predict a 2020-Style Comeback
Over the past 24 hours, as market values have declined significantly, many observers have begun discussing the current crypto market cycle and the potential for digital currency prices to recover. Data indicates that hundreds of billions of dollars…
Xapo Bank Enters UK Market, Offers Interest-Bearing USD and Bitcoin Account
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means…
Final 24 Hours of 99Bitcoins Token’s Presale Underway as Crypto Education Giant Raises $2.6M
99Bitcoins is making its move into tokens – but time is running out. They’ve already pulled in over $2.6 million through the presale for their new 99Bitcoins Token (99BTC). And with a Learn-to-Earn model set to debut, things could be…
‘Yen Carry Trade’ Blamed for Global Market Rout, Jump Crypto’s ETH Sale Worsens Ether Plunge
The narrowing Japanese “yen carry trade” has been blamed for the Aug. 5 global market downturn that sent stock markets and top cryptocurrencies like bitcoin and ethereum plunging by double-digit figures. Some experts cite the…
Crypto-Related Stocks Slide Amid Global Market Turmoil
U.S. equities have joined the global downturn, following sharp declines across Asia and Europe, with Japan’s Nikkei suffering significant losses. By 11:15 a.m. EDT on Monday, the five major U.S. stock indices had fallen between 2.5% and…
Double-Digit Crypto Losses Sweep the Market—Over 60 Coins in Freefall
Presently, the cryptocurrency market is experiencing a significant downturn, with bitcoin dropping 24% this week and ethereum shedding 30% against the U.S. dollar. While these losses are notable, some digital currencies have fared even worse, with…
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