A closely followed crypto strategist thinks that Bitcoin (BTC) is gearing up to carve the bottom of its extended correction this month. Pseudonymous analyst Rager tells his 198,000 followers on the social media platform X that he thinks Bitcoin will start carving a local bottom this month. According to the analyst, the precise timeline for …
Monthly archives: September 2024
Top Trader Forecasts ‘Slow Bleed’ for Bitcoin Unless Big Buyers Step In – Here’s His Outlook
Veteran trader The Flow Horse says a painful bleed down for Bitcoin (BTC) may be the most likely path in the near term due to a lack of large buyers. The trader tells his 228,000 followers on the social media platform X that Bitcoin will likely follow the same pattern that Ethereum in its Bitcoin …
Vitalik Buterin Says He Hasn’t Sold Any Ethereum Since 2018 Except To Support ETH Ecosystem Projects and Charity
Ethereum creator Vitalik Buterin says he hasn’t sold any ETH for six years unless it was going toward charity or boosting projects within the ecosystem. In response to rumors of him selling Ethereum, Buterin says that he hasn’t unloaded any ETH for personal gain. “I haven’t sold and kept the proceeds since 2018. All sales …
OKX wins Singapore license, former MAS official takes reins as regional CEO
Crypto exchange OKX’s Singaporean entity, OKX SG, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) and appointed former regulator Gracie Lin as CEO, according to a Sept. 2 announcement. The MPI license is highly sought after in Singapore, as it allows businesses to operate without daily or monthly …
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Hoskinson hails Cardano’s Chang hard fork as ‘dwarfing’ Bitcoin
On Sept. 1, the Cardano blockchain completed the first phase of its Chang hard fork, signaling a new era of decentralized governance for the network. The upgrade is a significant achievement for Cardano, marking a pivotal step toward fulfilling its vision of a fully self-governing, decentralized network. The move is also said to set it …
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Bitcoin loans gain prominence in digital assets sector’s bankruptcy proceedings
Quick Take There is a growing trend that highlights the growing significance of Bitcoin in bankruptcy and financial restructuring within the digital assets sector. Rhodium Encore LLC, a bankrupt Bitcoin mining company, recently disclosed significant financial challenges, revealing debts between $50 million and $100 million while holding assets valued between $100 million and $500 million, …
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Phishing scams dominate August’s $300M crypto losses – report
Blockchain security firm CertiK reported that crypto projects were exploited for a total of $310 million in August, the second-highest monthly total this year. The firm noted that $10.3 million of the stolen assets were recovered or returned, reducing the net loss to $300.6 million. It stated: “Combining all the incidents in August we’ve confirmed …
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Berkshire Hathaway joins $1 trillion club, Meta fastest to reach milestone
Quick Take Berkshire Hathaway recently joined the elite club of companies with a $1 trillion market cap, a milestone that took over 44 years to achieve. This accomplishment highlights the journey of other major companies to the $1 trillion mark. Among the “Magnificent 7” tech giants, Apple reached $1 trillion in over 37 years, Microsoft …
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India’s HDFC Bank Launches New UPI and CBDC Features
HDFC Bank, a leading private sector bank in India, has introduced new features for Unified Payments Interface (UPI) and central bank digital currency (CBDC) to enhance digital banking for its customers. Announced at the Global Fintech Fest 2024 in Mumbai, India, these innovations, developed in partnership with fintech companies like Kreditpe, Tonetag, and Payu, aim …
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Latam Insights: Bukele Used Bitcoin as a Rebranding Tool; Bitcoin Mining Companies Stop Operating in Paraguay After Power Fee Hikes
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: Salvadoran President Nayib Bukele acknowledges that bitcoin rebranded the country, some bitcoin mining companies have stopped operating in Paraguay after the recent power fee hikes, and Argentines lead Latam in stablecoin adoption. Bukele …
Late September Breakout for Bitcoin Likely Approaching, According to Crypto Analyst – Here’s Why
A closely followed analyst is forecasting a breakout for Bitcoin (BTC) later this month based on historical patterns. The pseudonymous analyst known as Rekt Capital tells his 497,000 followers on the social media platform X that cycles based around the Bitcoin halving – when miners’ rewards are cut in half – suggest that a bullish …
Why Socialism Fails: A Misesian Perspective
Socialism, despite its promises of equality and social welfare, inherently fails due to its inability to perform economic calculation and its reliance on coercive control over the means of production. Ludwig von Mises, in his seminal work “Socialism: An Economic and Sociological Analysis,” provides a comprehensive critique of socialism’s flaws rooted in both economic and …
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Plastic Surgery Fails to Help Crypto Scammer Evade Arrest After 10 Months
South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency mining business. The scam resulted in individual losses ranging from 1.2 million …
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Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon Musk
In recent times, Elon Musk, the owner of X and the CEO and product architect at Tesla, Inc., has been voicing his concerns about inflation. This discussion became especially prominent after he interviewed former U.S. President Donald Trump. Just two days ago, Musk took to X, declaring that the United States is “in the fast …
Russian Economy Sees Growth Despite Western Sanctions and Declining Imports
The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military manufacturing, saw a 3.3% increase in July, and the GDP growth rate for the first half of the year reached 4.6%, compared to 1.8% in …
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