A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and otther cryptocurrencies tumbled sharply.
Monthly archives: August 2024
$500B plunge: Largest 3-day wipeout for crypto in a year
The crypto market has just witnessed its largest three-day sell-off in 12 months amid weak jobs data and revived fears of a recession.
2 reasons Solana and other altcoins ETFs may struggle — Sygnum Bank
Katalin Tischhauser, head of investment research at Signum Bank, has joined other commentators who suggested that spot Solana and Cardano ETFs are unlikely, though VanEck may disagree.
Bitcoin falls to $57k as market bleeds amid fears of recession, war
Bitcoin (BTC) fell below key support levels as markets continued to bleed over the weekend due to fears of an impending global recession and escalating tensions in the Middle East. The flagship crypto has fallen more than 8% since the start of the weekend to $57,040 — the lowest price recorded in almost three weeks. …
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An Analysis of Solana’s Celebrity Memecoin Invasion
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Ollie of Blocmates delves into the rise of Solana celebrity memecoins. With memecoins being one of the most consistently active sectors of crypto, …
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Latam Insights: El Salvador Proposes Using Crypto for International Settlements; First Bitcoin-Funded Company Registered in Argentina
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador proposes using crypto as a tool to complete international settlements with Russia, Argentina registers its first bitcoin-funded company, and the Polymarket Venezuelan presidential election bet is still undecided. Russian Diplomat: El …
ZKX Shutdown: Amber Group Slams the Protocol’s Lack of Transparency
Amber Group has criticized ZKX protocol’s abrupt decision to cease operations, stating that it sets a concerning precedent. Hashkey Capital, another market participant, has also expressed dissatisfaction with ZKX’s lack of transparency and accountability. ZKX founder Eduard Jubany Tur identified limited user engagement and low trading volumes as factors that ultimately impacted the protocol’s financial …
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Macroeconomics Expert Predicts Hard Landing for US Economy
Despite recent positive economic indicators, investor and macroeconomics expert George Gammon foresees a hard landing for the U.S. economy. In an interview with Michelle Makori of Kitco News, Gammon pointed to several warning signs in the banking sector and the broader financial landscape. Banks See Economic Storm Clouds Ahead: George Gammon’s Warning Gammon explains that …
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Market Mayhem: Bitcoin Crashes Below $59K, $223M in Liquidations as South Korea’s Premium Spikes
The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week. Bitcoin Slides Below $59K At 1:24 p.m. EDT on Sunday, bitcoin dropped to …
Crypto Crowd Keeping Their Wallets Closed As Bitcoin Threatens To Move Below $60,000: Santiment
A prominent analytics firm says crypto traders are not rushing to accumulate the latest Bitcoin (BTC) correction. Santiment says on the social media platform X the crypto crowd is not opening their wallets to gobble up the marketwide dip. “With this dip being roughly on par with the one we saw in early July, the …
Bankrupt Genesis Global Launches $4,000,000,000 Crypto and Cash Payout to Creditors
A subsidiary of Barry Silbert’s Digital Currency Group (DCG) that collapsed during the last crypto winter has started repaying its creditors after completing bankruptcy restructuring. In a new press release, Genesis Global, along with affiliate companies, has already commenced the distribution of approximately $4 billion in digital assets and cash to creditors in accordance with …
OpenAI has a ‘highly accurate’ tool to detect AI content, but no release plans
The company expressed worries that its detection system could somehow “stigmatize” the use of AI among non-English speakers.
Bitcoin falls into demand zone — Will SOL, XRP, KAS and AAVE follow?
Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
Presidential Candidate Kamala Harris Adds Ex-Binance Adviser to Campaign Team: Report
Democratic presidential candidate Kamala Harris is reportedly adding an ex-Binance adviser to her campaign team. According to a new report by Politico, the Harris campaign has hired David Plouffe – an ex-political advisor to former President Barack Obama who once served on Binance’s Global Advisory Board. An anonymous source familiar with the matter tells Politico …
US Lawmaker Hosts Meeting to Help Kamala Harris Gain Crypto Industry Support
U.S. Congressman Ro Khanna will host a meeting to help Vice President Kamala Harris improve her relationship with the cryptocurrency industry. This is the second event of its kind in two months to aid Harris’ campaign efforts amid the Biden administration’s tough stance on crypto assets. Meeting Arranged to Help Vice President Kamala Harris Mend …
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