Crypto Assets Fund Flows Surge on Positive Outlook In his speech, Powell discussed the progress made in reducing inflation and cooling the labor market while avoiding a sharp increase in unemployment. Overall, the speech conveys confidence in the Fed’s ability to achieve its dual mandate of price stability and maximum employment. Powell’s suggestion that the...
Crypto is now a store of value and a financial speculation instrument, but there is no “kick-ass mainstream use case that we want.” The next evolution of AI could become that use case, said Goertzel. Hence, the team is looking into ways to launch the next AI evolution on the ASI infrastructure. Certain useful elements...
Accusations surfaced on August 26 alleging that Binance, one of the largest cryptocurrency exchanges globally, froze Palestinian users’ crypto assets at the behest of Israeli authorities. This claim, brought to light by Ray Youssef, the co-founder of Paxful and CEO of Noones P2P platform, sparked concerns about the autonomy of cryptocurrency exchanges and user privacy....
Richard Heart, whose real name is Richard Schueler, is accused of defrauding investors of more than $1 billion by selling unregistered securities. The SEC’s lawsuit alleges that Heart misused approximately $8.9 million of investor funds to purchase luxury items, including Ferraris, Gucci products, and a rare black diamond known as the Enigma, which he reportedly...
Expanding Presence in Scandinavia Antti-Jussi Suominen, CEO of Coinmotion, said the broker is experiencing “a surge in customer demand” as more people embrace cryptocurrency investments. With this new partnership, Coinmotion solidifies its position as a Nordic crypto leader, not only strengthening its market dominance in Finland but also pioneering the crypto space across the entire...
The Bitcoin (BTC) price rejected strong resistance in the form of its 50DM around $61,300 on Thursday, subsequently falling back to around $60,000, despite new economic data coming out that pushes back on the idea that the US economy is nearing a recession. As the Service Sector continues to expand in the United States, the...
High trading volumes in the bull market have also helped bolster the platform and its financial performance. The exchange last week posted a 639.2% increase in operating profits compared to Quarter 2 of FY2023 Q2. Bithumb’s sales also increased 193.6% to the $180 million mark.
However, the broader market saw mixed results, with notable outflows in certain regions, such as Switzerland and Hong Kong, where outflows reached $30 million and $14 million, respectively. Ethereum, the second-largest cryptocurrency, recorded $4.2 million in inflows. However, this seemingly modest figure for Ethereum conceals significant underlying activity. New providers of Ethereum investment products saw...
Volk explained that the group operated five “call centers” in Minsk. Officers raided these addresses, seizing “computer equipment, mobile devices, accounting documentation, and access to cloud storage.” She added that one of the alleged masterminds and “two of his accomplices” were detained in the Moscow region. During a raid on the suspected mastermind’s residence and...
On August 21, leading stablecoin issuer Tether announced the launch of a stablecoin pegged to the United Arab Emirates dirham (AED). This move is part of a strategic partnership with two prominent UAE-based companies, Phoenix Group PLC and Green Acorn Investments Ltd. Tether Aims to Streamline Cross-Border Transactions and Remittances in UAE According to the...