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Shark Tank Star Kevin O’Leary Warns More US Banks Will Fail

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that more banks in the U.S. will fail as the Federal Reserve continues to hike interest rates. He stressed: “It will break down in the regional banks, which support 60% of the…

QI Research’s DiMartino Booth Foresees ‘Full Damage’ Yet to Unfold in US Banking Sector

Danielle DiMartino Booth, holding the dual roles of CEO and chief strategist at QI Research, foresees that the 22-year peak in interest rates set by the Fed is merely a precursor to what’s to come. She anticipates further upheaval within the…

Bitcoin Onchain Fees Dive Below $1, Pending Transactions Drop, and Miners Experience Difficulty Reduction

According to recent Bitcoin data, the count of pending transactions, still awaiting confirmation, has plummeted beneath the 300,000 mark, while onchain fees have seen a reduction over the past week. Starting from July 29, the average onchain fees…

SEC Files Lawsuit Against Richard Heart and Companies Hex, Pulsechain, and Pulsex

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities…

Report: SEC Asked Coinbase to Delist All Crypto Assets Except Bitcoin Prior to Filing Lawsuit

According to Brian Armstrong, the CEO of crypto exchange Coinbase, the U.S. securities regulator reportedly told his company to delist all digital assets save for bitcoin. Armstrong said acceding to the SEC’s demand would have “meant…

Eritrean President Isaias Afwerki: ‘We Need a New Financial Architecture Not Controlled by the Dollar or the Euro’

Isaias Afwerki, president of Eritrea, reinforced the need for building a new economic system away from the traditional centers of power. At the second Russia-Africa Summit, Afwerki told Russian President Vladimir Putin that the current world order…

Japan Blockchain Association Urges Tokyo to Overhaul Crypto Tax System

An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and…

Cato Institute Experts: Dollarization ‘Protects Ordinary People’s Purchasing Power’

According to Cato Institute experts, full dollarization of the Argentine economy helps to protect “ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers.”…

Crypto Mining Crackdown in Malaysia: Sarawak Police and Energy Plant Dismantle Illegal Mining Operation

A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made…

Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese…

$20 Million Crypto Mining Farm to Be Built at Hydropower Plant in Kyrgyzstan

Kyrgyzstan intends to build a new facility for cryptocurrency mining at one of the country’s hydroelectric stations. The project aims to minimize the power plant’s electricity losses by utilizing its full generating capacity that currently exceeds…

US Representatives Bilirakis and Schakowsky Inquire About Apple’s Policies on Blockchain and NFTs

Representatives Gus Bilirakis and Jan Schakowsky, part of the House Innovation, Data, and Commerce Subcommittee, have sent a letter to Apple requiring information and documents regarding Apple’s iOS Appstore policies on blockchain…

Kenyan Data Regulator Issues Warning as Residents Rush to Get Worldcoin’s ‘Free Money’

The Kenyan data regulator said it is conducting an “assessment of Worldcoin’s practices to ensure compliance with the law.” The data regulator has urged “increased vigilance” by Kenyans who are signing up to…

Maine Senator Urges Biden to Consider Clemency for Ross Ulbricht During President’s Auburn Visit

On July 28, 2023, U.S. president Joe Biden made a trip to Auburn, Maine, where he delivered a speech at Auburn Manufacturing and subsequently attended a private fundraising gathering. Eric Brakey, the Republican senator representing Maine, greeted…

Ordinals Reach 20 Million Milestone, But Bitcoin-Based NFT Sales Slide

This week marked a milestone as the number of Ordinal inscriptions minted on the Bitcoin blockchain crossed the impressive 20 million threshold. But despite this achievement, Bitcoin-based non-fungible token (NFT) or Ordinal marketplace sales have…

Ethereum Liquid Staking Sees 270,000 ETH Influx in 2 Weeks

Recent statistics reveal that in the past fortnight, about 270,000 units of ethereum (ETH) were deposited into liquid staking derivative protocols. Currently, these decentralized finance (defi) staking platforms hold an estimated 10.65 million…

US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review

A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS…

Crypto․com Granted Registration Approval in the Netherlands

Digital asset exchange Crypto․com has been approved for registration as a crypto service provider in the Netherlands. The regulatory nod comes after a review of its business operations and compliance with the Dutch anti-money laundering…

Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator

Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver on Friday. Regulator Shuts Down Heartland Tri-State…