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Report: Kenyan Police Raid Worldcoin’s Offices Just Days After Govt Suspended the Crypto Project

A team of Kenyan police officers is reported to have raided the premises used by Worldcoin and seized devices storing users’ data. The raid came just days after the Kenyan government announced the suspension of Worldcoin’s activities in…

A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media

At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the…

Report: Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits

The top 15 traders in the Ethereum non-fungible token (NFT) market have amassed up to $101.6 million in profits, as revealed in Coingecko’s latest NFT report. These traders lucratively capitalized on early investments in esteemed blue-chip…

Wall Street Divided: Treasury Yields Surge Sparks Intense Debates and Divergent Bets

In recent weeks, Treasury yields have skyrocketed, igniting a Wall Street dispute over whether the precipitous sell-off is now overextended. A small group of prominent investors are wagering that bond prices will bounce back following the abrupt…

US Representative Patrick McHenry: Stablecoins ‘Hold Promise as a Pillar of Our 21st-Century Payments System’

Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated…

Federal Reserve Governor Hints at More Interest Rate Hikes

Federal Reserve Governor Michelle Bowman says additional interest rate increases will likely be needed to get inflation on a path down to the Fed’s target. “I will also be watching for signs of slowing in consumer spending and signs that…

Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion

Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit…

US Senators Press Biden Administration for Measures to Counter ‘Serious National Security Threats’ Linked to North Korea, Crypto

U.S. senators have pressed the Biden administration for measures to counter “serious national security threats” posed by North Korea’s dependence on cryptocurrency. According to the lawmakers, North Korea is using crypto “to evade harsh…

Hydro Expansion: Bitfarms Begins 50 MW Bitcoin Mining Farm Buildout in Paraguay

Bitfarms Ltd. has started development on a new 50-megawatt (MW) Bitcoin mining facility in Paraguay, the company announced on August 7, 2023. The farm will be located in Paso Pe near Bitfarms’ existing mining operations in Villarrica and is…

Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges

Seasoned commodity strategist Mike McGlone says bitcoin is now riskier relative to stocks, while he further warned that economic downturn pressures may hold silver prices at bay. Bitcoin Volatility Low, Silver Faces Challenges: McGlone In a client…

Paypal’s New Stablecoin Sparks Confusion: Wave of Counterfeit Tokens Flood Decentralized Exchanges

Following the announcement by Paypal of the introduction of a novel stablecoin asset named PYUSD, a wave of counterfeit Paypal tokens has emerged on decentralized exchange (dex) platforms, including Uniswap. The absence of an official release of…

Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD

Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A…

Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume

In the brief span from July 12, 2023 to August 6, 2023, the stablecoin economy witnessed a staggering loss exceeding $1.53 billion in value. Among the premier ten stablecoins, Pax’s pax dollar (USDP) experienced a redemption of 39% of its…

Scottish Author Exposing Onecoin Cancels ‘Devil’s Coin’ Book Tour After Death Threats

An author from Scotland has been targeted for her work to expose one of crypto history’s most notorious Ponzi schemes, Onecoin. Jennifer McAdam recently canceled book signings after receiving death threats for writing about the massive fraud and…

Latam Insights — Honduras Opens Public CBDC Consultation, Venezuela Applies to Enter BRICS

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Honduras opens a central bank digital currency (CBDC) consultation, Venezuela applies officially to join…

G20 President India Proposes ‘Action Points’ for Implementing Global Crypto Rules

The Indian Presidency of G20 has put forward proposals for a roadmap to introducing a global regulatory framework for crypto assets. India believes a more coordinated policy will be needed to enforce international standards in the field and…

US Court Dismisses Former Celsius Network CEO’s Motion to Block New York Attorney General’s Lawsuit

Former Celsius Network Alex Mashinsky will now have to defend himself against a lawsuit filed by New York Attorney General Letitia James after a New York County Supreme Court Justice rejected his attempts to have the suit dismissed. The court’s…

Report: US ETFs Signal Renewed Bitcoin Interest; BTC’s Limited ‘Hot Supply’ Eyes Bull Market

As interest in bitcoin exchange-traded funds (ETFs) heats up, a new report from blockchain analytics firm Glassnode examines how much bitcoin is actually available for purchase. The report, titled “How Many Bitcoin Are For Sale?”…

LK-99 and Cracking Bitcoin: A Quantum Leap in Optimism or Threat? Community Debates Potential Impact

In recent times, attention has gravitated towards a novel substance known as LK-99, celebrated as a potential wonder superconductor with the capability to usher in an era of lossless power transmission, more potent computers, and stronger magnets…

Bitcoin’s Historic Surge: Record 682,281 Transactions in a Day Mark 2023 as Year of Increased Activity 

In a year marked by historic milestones, the Bitcoin network has recorded its most active period ever, processing the highest number of confirmed transactions per day. The network reached an all-time high on May 1, 2023, with 682,281 transactions…

While Worldcoin Sees a 148% Surge in Unique Addresses, the Top 20 Wallets Command 94% of WLD Supply

Worldcoin’s native cryptocurrency, worldcoin (WLD), has oscillated in value between $2.69 and $2.13 per token throughout the preceding 12 days, peaking at $3.30 per coin on July 24, 2023. The number of individual addresses possessing WLD…

Heartland Tri-State Bank Collapses, Biden Urged to Grant Silk Road’s Ross Ulbricht Clemency, and More — Week in Review

In this week’s news, another major U.S. bank has failed, a Maine senator has appealed to United States president Joe Biden to grant Silk Road creator Ross Ulbricht clemency, a senior U.S. district judge has rejected the approach taken in the…