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to the server to view the underlying object.
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"content": "China and Taiwan's Potential Economic Impact, Bear Market Warnings, and FC Barcelona Metaverse News — Bitcoin.com News Week in Review<br /><br /><br />From ominous speculation about the potential economic fallout of military conflict between Taiwan and China, to markets being flooded with designer watches in the wake of a crypto downturn, to warnings of worse bear markets and soccer franchises pushing forward in the realm of metaverse ambitions, there’s once again never a dull moment in the world of cryptocurrency news. Without further ado, this is your bite-sized digest of the week’s hottest stories from Bitcoin.com News.<br /><br />Reports Say Beijing Attacking Taiwan Could Lead to 'Far-Reaching Economic Consequences'<br /><br />Reports Say Beijing Attacking Taiwan Could Lead to ‘Far-Reaching Economic Consequences’<br />While the global economy remains gloomy and the war in Ukraine continues, there’s been significant tension between China and Taiwan. The American representative from California, Nancy Pelosi, plans to visit Taiwan this week and White House officials say China is preparing to carry out “military provocations.” Moreover, during the last few weeks, reports note that the global economy could crater if there’s a Chinese military attack on<br /><br />Renowned Investor Jim Rogers Warns 'the Worst' Bear Market in His Lifetime Still to Come<br /><br />Renowned Investor Jim Rogers Warns ‘the Worst’ Bear Market in His Lifetime Is Incoming<br />Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that more bear markets are coming and the next one will be “the worst” in his lifetime. Noting that many stocks will go down 90%, he stressed that investors will lose a lot of money.<br /><br /><br /><br /><br />Crypto Downturn Floods Market With Rolex and Patek Watches, Trading Platform Says<br /><br />Crypto Downturn Floods Market With Rolex and Patek Watches, Trading Platform Says<br />The latest troubles in the crypto space have allegedly led to an increased supply of second-hand luxury watches, according to a leading trading platform. As a result, prices of sought-after models by major brands like Rolex and Patek have dropped, the company revealed.<br /><br /><br /><br />Barcelona<br /><br />Socios.com Will Invest $100 Million in FC Barcelona Metaverse Push<br />Socios.com, a company dedicated to the development of fan engagement tokens for sports organizations, has revealed that it will invest $100 million in the digital business of soccer team FC Barcelona, Barca Studios. The investment will give Socios.com 24.5% of the stake in the digital division of the club and will allow it to reshape the metaverse and Web3 strategies of the division to include more revenue streams.",
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"content": "China and Taiwan's Potential Economic Impact, Bear Market Warnings, and FC Barcelona Metaverse News — Bitcoin.com News Week in Review\n\n\nFrom ominous speculation about the potential economic fallout of military conflict between Taiwan and China, to markets being flooded with designer watches in the wake of a crypto downturn, to warnings of worse bear markets and soccer franchises pushing forward in the realm of metaverse ambitions, there’s once again never a dull moment in the world of cryptocurrency news. Without further ado, this is your bite-sized digest of the week’s hottest stories from Bitcoin.com News.\n\nReports Say Beijing Attacking Taiwan Could Lead to 'Far-Reaching Economic Consequences'\n\nReports Say Beijing Attacking Taiwan Could Lead to ‘Far-Reaching Economic Consequences’\nWhile the global economy remains gloomy and the war in Ukraine continues, there’s been significant tension between China and Taiwan. The American representative from California, Nancy Pelosi, plans to visit Taiwan this week and White House officials say China is preparing to carry out “military provocations.” Moreover, during the last few weeks, reports note that the global economy could crater if there’s a Chinese military attack on\n\nRenowned Investor Jim Rogers Warns 'the Worst' Bear Market in His Lifetime Still to Come\n\nRenowned Investor Jim Rogers Warns ‘the Worst’ Bear Market in His Lifetime Is Incoming\nVeteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that more bear markets are coming and the next one will be “the worst” in his lifetime. Noting that many stocks will go down 90%, he stressed that investors will lose a lot of money.\n\n\n\n\nCrypto Downturn Floods Market With Rolex and Patek Watches, Trading Platform Says\n\nCrypto Downturn Floods Market With Rolex and Patek Watches, Trading Platform Says\nThe latest troubles in the crypto space have allegedly led to an increased supply of second-hand luxury watches, according to a leading trading platform. As a result, prices of sought-after models by major brands like Rolex and Patek have dropped, the company revealed.\n\n\n\nBarcelona\n\nSocios.com Will Invest $100 Million in FC Barcelona Metaverse Push\nSocios.com, a company dedicated to the development of fan engagement tokens for sports organizations, has revealed that it will invest $100 million in the digital business of soccer team FC Barcelona, Barca Studios. The investment will give Socios.com 24.5% of the stake in the digital division of the club and will allow it to reshape the metaverse and Web3 strategies of the division to include more revenue streams.",
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"content": "Portuguese Banks Close Accounts of Crypto Exchanges, Media Reveals<br />Portuguese Banks Close Accounts of Crypto Exchanges, Media Reveal<br /><br />Major Portuguese banks have started closing or refusing to open accounts for cryptocurrency platforms such as exchanges, according to media reports. The move threatens to tarnish the country’s image as one of Europe’s most crypto-friendly destinations, a haven for bitcoin enthusiasts.<br /><br />Portuguese Crypto Firms Hit by Bank Account Closures<br />Portugal, a leading European crypto hub, is risking the loss of its attractiveness for crypto businesses and talent working in the industry as some of its largest banks are now closing accounts of companies operating with digital currencies.<br /><br />Last week, the nation’s biggest listed bank, Banco Comercial Portugues, and another major institution, Banco Santander, shut down all the accounts of Lisbon-based Criptoloja, Bloomberg reported, quoting the exchange’s co-founder and CEO Pedro Borges. The development follows the decision of two smaller banks to close the platform’s accounts.<br /><br />No official explanation was provided in either of these cases, the crypto entrepreneur emphasized. Meanwhile, the state-owned bank Caixa Geral de Depositos and the Lisbon-based BiG have also started rejecting or closing down crypto exchange accounts, Jornal de Negocios unveiled this week.<br /><br />At least two other crypto brokers have been hit by bank account closures this year, the report notes. Mind the Coin has been unable to open an account for months, and rival Luso Digital Assets had some of its accounts closed down, its executives complained.<br /><br /><br />Portugal’s Crypto Businesses Forced to Open Accounts Outside Country<br />Anti-money laundering and know-your-customer rules are often the main reasons cited by lenders who refuse to work with crypto companies. Banco Comercial explained that it’s obliged to report suspicious transactions which may lead to termination of banking services for some entities. Banco Santander acts “in accordance with its perception of risk,” a representative said.<br /><br />“We now have to rely on using accounts outside Portugal to run the exchange,” Criptoloja’s founder Pedro Borges admitted. That’s despite his company becoming the first to obtain a license from the central bank last year. Criptoloja has always informed authorities of suspicious operations and followed all compliance procedures, he pointed out. Mind the Coin’s Pedro Guimaraes added:<br /><br />While there is no official explanation, some banks just tell us they don’t want to work with crypto companies. It’s almost impossible to start a crypto business in Portugal right now.<br /><br />Three out of five coin trading platforms authorized by Banco de Portugal have had their accounts shut down this year. While it’s unclear whether the trend is affecting other companies in the sector, it could be a sign of a toughening environment in Portugal, which lured crypto enthusiasts with its zero-percent tax on crypto gains, affordable living costs, and mild climate.",
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"content": "Portuguese Banks Close Accounts of Crypto Exchanges, Media Reveals\nPortuguese Banks Close Accounts of Crypto Exchanges, Media Reveal\n\nMajor Portuguese banks have started closing or refusing to open accounts for cryptocurrency platforms such as exchanges, according to media reports. The move threatens to tarnish the country’s image as one of Europe’s most crypto-friendly destinations, a haven for bitcoin enthusiasts.\n\nPortuguese Crypto Firms Hit by Bank Account Closures\nPortugal, a leading European crypto hub, is risking the loss of its attractiveness for crypto businesses and talent working in the industry as some of its largest banks are now closing accounts of companies operating with digital currencies.\n\nLast week, the nation’s biggest listed bank, Banco Comercial Portugues, and another major institution, Banco Santander, shut down all the accounts of Lisbon-based Criptoloja, Bloomberg reported, quoting the exchange’s co-founder and CEO Pedro Borges. The development follows the decision of two smaller banks to close the platform’s accounts.\n\nNo official explanation was provided in either of these cases, the crypto entrepreneur emphasized. Meanwhile, the state-owned bank Caixa Geral de Depositos and the Lisbon-based BiG have also started rejecting or closing down crypto exchange accounts, Jornal de Negocios unveiled this week.\n\nAt least two other crypto brokers have been hit by bank account closures this year, the report notes. Mind the Coin has been unable to open an account for months, and rival Luso Digital Assets had some of its accounts closed down, its executives complained.\n\n\nPortugal’s Crypto Businesses Forced to Open Accounts Outside Country\nAnti-money laundering and know-your-customer rules are often the main reasons cited by lenders who refuse to work with crypto companies. Banco Comercial explained that it’s obliged to report suspicious transactions which may lead to termination of banking services for some entities. Banco Santander acts “in accordance with its perception of risk,” a representative said.\n\n“We now have to rely on using accounts outside Portugal to run the exchange,” Criptoloja’s founder Pedro Borges admitted. That’s despite his company becoming the first to obtain a license from the central bank last year. Criptoloja has always informed authorities of suspicious operations and followed all compliance procedures, he pointed out. Mind the Coin’s Pedro Guimaraes added:\n\nWhile there is no official explanation, some banks just tell us they don’t want to work with crypto companies. It’s almost impossible to start a crypto business in Portugal right now.\n\nThree out of five coin trading platforms authorized by Banco de Portugal have had their accounts shut down this year. While it’s unclear whether the trend is affecting other companies in the sector, it could be a sign of a toughening environment in Portugal, which lured crypto enthusiasts with its zero-percent tax on crypto gains, affordable living costs, and mild climate.",
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"content": "Fear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher<br />Fear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher<br /><br />Stock and cryptocurrency markets on Thursday saw volatility, after experiencing fluctuations during the tensions between China and Taiwan on Tuesday and Wednesday. Major indexes like the S&P 500, Dow Jones, and NYSE have shed a few percentages today, while the global cryptocurrency market capitalization lost 2.5% in 24 hours, dropping to just above the $1.1 trillion range. Precious metals, on the other hand, traded higher as U.S. president Joe Biden’s administration declared that the Monkeypox virus a public health emergency in the United States.<br /><br />China and Taiwan Tensions and Monkeypox Reports Cause Stock and Crypto Prices to Fluctuate, Precious Metal Markets Rise Catching ‘Safe-Haven Demand’<br />Stock and crypto traders faced some headwinds on August 4, the day after the American representative from California, Nancy Pelosi, visited Taiwan to discuss democracy with the Taiwanese president Tsai Ing-wen. Global markets saw some fluctuations before the U.S. diplomat visited Taipei and during the visit on Wednesday as well.<br /><br />Equities and precious metals markets slid the day before on August 3, while the crypto economy managed to consolidate for another day. U.S. equities markets took a dip again on Thursday as the Dow Jones dropped 85 points lower during the afternoon (EST) trading sessions. Cryptocurrencies followed the drop in stock markets during the course of the day.<br /><br />Fear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher<br />Dow Jones Industrial Average Index on August 4, 2022.<br />While Nasdaq was up, S&P 500, NYSE, and many other stocks saw losses during the course of the day. The crypto economy saw losses as well, as the entire lot of digital assets today lost 2.5% in the last 24 hours against the U.S. dollar.<br /><br />Fear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher<br /><br />The leading crypto asset bitcoin (BTC) slipped 5% on Thursday afternoon from $23,548 to $22,395 in value. Ethereum (ETH) too lost 5% today after tapping a 24-hour high at $1,666 per unit down to a low of $1,545 per coin. Out of the top ten crypto market cap contenders, solana (SOL) lost the most losing 5.6% during the day and polkadot (DOT) shed 5.5%.<br /><br />Fear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher<br />BTC/USD 4-hour chart on on August 4, 2022.<br />In Europe, the Ukraine-Russia war rages on and tensions between China and Taiwan have escalated this week. While Asia deals with the tensions, Europe is dealing with an energy crisis and a recession. The U.S. is also dealing with what many believe is a recession even though American bureaucrats and their experts have stated otherwise.<br /><br />Fear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher<br />Three out of the four top indexes on Thursday saw more losses after a turbulent day prior. Losses are being blamed on tensions between China and Taiwan, Monkeypox, and the upcoming July jobs report.<br />On Thursday, the U.S. Labor Department published the weekly jobless claims data, which notes claims increased by 6,000 to 260,000. As the weekend approaches, stock traders have been interested in America’s July jobs report, which is due to be published on Friday. A couple of hours before the closing bell on Thursday, a few of the top Wall Street indexes like the Dow, and the S&P 500 rebounded slightly. By the end of Wall Street’s trading day on Thursday, three out of the four major indexes were down.<br /><br />Fear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher<br />Gold price on August 4, 2022.<br />Meanwhile, gold and silver markets saw some relief on Thursday as both assets climbed higher. Gold’s price per ounce jumped 1.64% while silver’s value per ounce against the U.S. dollar increased 1.04%. On August 4, Kitco’s Jim Wyckoff attributed the precious metals spike to tensions in Asia when he said that gold and silver prices were higher in the U.S. “on safe-haven demand as China-Taiwan-U.S. tensions have escalated this week.”<br /><br />Furthermore, on Thursday, reports detail that the U.S. has officially declared the virus Monkeypox a public health emergency. The Washington Post (WP) reporter Dan Diamond explained that “two officials who spoke on the condition of anonymity” said that the Biden administration will declare monkeypox an outbreak and a public health emergency. Diamond wrote that the message would stem from the White House Health and Human Services secretary Xavier Becerra.<br /><br />Following the report, Becerra ended up declaring monkeypox a public health emergency now in the U.S., during an afternoon news briefing. “We’re prepared to take our response to the next level in addressing this virus, and we urge every American to take monkeypox seriously,” the health secretary stressed to the press.",
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"content": "Fear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher\nFear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher\n\nStock and cryptocurrency markets on Thursday saw volatility, after experiencing fluctuations during the tensions between China and Taiwan on Tuesday and Wednesday. Major indexes like the S&P 500, Dow Jones, and NYSE have shed a few percentages today, while the global cryptocurrency market capitalization lost 2.5% in 24 hours, dropping to just above the $1.1 trillion range. Precious metals, on the other hand, traded higher as U.S. president Joe Biden’s administration declared that the Monkeypox virus a public health emergency in the United States.\n\nChina and Taiwan Tensions and Monkeypox Reports Cause Stock and Crypto Prices to Fluctuate, Precious Metal Markets Rise Catching ‘Safe-Haven Demand’\nStock and crypto traders faced some headwinds on August 4, the day after the American representative from California, Nancy Pelosi, visited Taiwan to discuss democracy with the Taiwanese president Tsai Ing-wen. Global markets saw some fluctuations before the U.S. diplomat visited Taipei and during the visit on Wednesday as well.\n\nEquities and precious metals markets slid the day before on August 3, while the crypto economy managed to consolidate for another day. U.S. equities markets took a dip again on Thursday as the Dow Jones dropped 85 points lower during the afternoon (EST) trading sessions. Cryptocurrencies followed the drop in stock markets during the course of the day.\n\nFear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher\nDow Jones Industrial Average Index on August 4, 2022.\nWhile Nasdaq was up, S&P 500, NYSE, and many other stocks saw losses during the course of the day. The crypto economy saw losses as well, as the entire lot of digital assets today lost 2.5% in the last 24 hours against the U.S. dollar.\n\nFear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher\n\nThe leading crypto asset bitcoin (BTC) slipped 5% on Thursday afternoon from $23,548 to $22,395 in value. Ethereum (ETH) too lost 5% today after tapping a 24-hour high at $1,666 per unit down to a low of $1,545 per coin. Out of the top ten crypto market cap contenders, solana (SOL) lost the most losing 5.6% during the day and polkadot (DOT) shed 5.5%.\n\nFear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher\nBTC/USD 4-hour chart on on August 4, 2022.\nIn Europe, the Ukraine-Russia war rages on and tensions between China and Taiwan have escalated this week. While Asia deals with the tensions, Europe is dealing with an energy crisis and a recession. The U.S. is also dealing with what many believe is a recession even though American bureaucrats and their experts have stated otherwise.\n\nFear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher\nThree out of the four top indexes on Thursday saw more losses after a turbulent day prior. Losses are being blamed on tensions between China and Taiwan, Monkeypox, and the upcoming July jobs report.\nOn Thursday, the U.S. Labor Department published the weekly jobless claims data, which notes claims increased by 6,000 to 260,000. As the weekend approaches, stock traders have been interested in America’s July jobs report, which is due to be published on Friday. A couple of hours before the closing bell on Thursday, a few of the top Wall Street indexes like the Dow, and the S&P 500 rebounded slightly. By the end of Wall Street’s trading day on Thursday, three out of the four major indexes were down.\n\nFear of War, Monkeypox Causes Equity and Crypto Markets to Churn While Precious Metal Spike Higher\nGold price on August 4, 2022.\nMeanwhile, gold and silver markets saw some relief on Thursday as both assets climbed higher. Gold’s price per ounce jumped 1.64% while silver’s value per ounce against the U.S. dollar increased 1.04%. On August 4, Kitco’s Jim Wyckoff attributed the precious metals spike to tensions in Asia when he said that gold and silver prices were higher in the U.S. “on safe-haven demand as China-Taiwan-U.S. tensions have escalated this week.”\n\nFurthermore, on Thursday, reports detail that the U.S. has officially declared the virus Monkeypox a public health emergency. The Washington Post (WP) reporter Dan Diamond explained that “two officials who spoke on the condition of anonymity” said that the Biden administration will declare monkeypox an outbreak and a public health emergency. Diamond wrote that the message would stem from the White House Health and Human Services secretary Xavier Becerra.\n\nFollowing the report, Becerra ended up declaring monkeypox a public health emergency now in the U.S., during an afternoon news briefing. “We’re prepared to take our response to the next level in addressing this virus, and we urge every American to take monkeypox seriously,” the health secretary stressed to the press.",
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"content": "Mastercard Views Crypto More as Asset Class Than Form of Payment<br />Mastercard Views Crypto More as Asset Class Than Form of Payment<br /><br />Mastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant’s chief financial officer. Mastercard’s crypto strategy “has been fairly successful ever since crypto environments came up,” he added.<br /><br />Mastercard’s CFO on Crypto as Asset Class vs. Means of Payment<br />Mastercard Chief Financial Officer (CFO) Sachin Mehra shared his view on cryptocurrency in an interview published Tuesday by Bloomberg.<br /><br />He was asked how successful Mastercard’s crypto strategy has been. “In the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy crypto. And we act as the off-ramp: When people want to cash it, we help them gain access to be able to use their crypto balances everywhere Mastercard is accepted,” he detailed, elaborating:<br /><br />That’s a revenue-generating capability which has been fairly successful ever since crypto environments came up.<br /><br />The company previously explained that it has plans to develop products and services in three key crypto-related areas: cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).<br /><br />Mehra was further asked how much traction crypto assets can get as a true form of payment. “For anything to be a payment vehicle in our mind, it needs to have a store of value,” he replied. “If something fluctuates in value every day, such that your Starbucks coffee today costs you $3 and tomorrow it’s going to cost you $9 and the day after it’s going to cost you a dollar, that’s a problem from a consumer-mindset standpoint.”<br /><br />The Mastercard chief financial officer added:<br /><br />So we view crypto more as an asset class.<br /><br />“But as a payment instrument, we think stablecoins and CBDCs potentially have a little bit more runway,” Mehra concluded.<br /><br /><br />In February, Mastercard expanded its payments-focused consulting service to include cryptocurrency. The service covers “a range of digital currency capabilities, from early-stage education, risk assessments, and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.”<br /><br />The payments giant filed 15 trademark applications in April for a wide range of metaverse and non-fungible token (NFT) services. In June, the company said it is bringing its payments network to web3 and NFTs.",
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"content": "Mastercard Views Crypto More as Asset Class Than Form of Payment\nMastercard Views Crypto More as Asset Class Than Form of Payment\n\nMastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant’s chief financial officer. Mastercard’s crypto strategy “has been fairly successful ever since crypto environments came up,” he added.\n\nMastercard’s CFO on Crypto as Asset Class vs. Means of Payment\nMastercard Chief Financial Officer (CFO) Sachin Mehra shared his view on cryptocurrency in an interview published Tuesday by Bloomberg.\n\nHe was asked how successful Mastercard’s crypto strategy has been. “In the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy crypto. And we act as the off-ramp: When people want to cash it, we help them gain access to be able to use their crypto balances everywhere Mastercard is accepted,” he detailed, elaborating:\n\nThat’s a revenue-generating capability which has been fairly successful ever since crypto environments came up.\n\nThe company previously explained that it has plans to develop products and services in three key crypto-related areas: cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).\n\nMehra was further asked how much traction crypto assets can get as a true form of payment. “For anything to be a payment vehicle in our mind, it needs to have a store of value,” he replied. “If something fluctuates in value every day, such that your Starbucks coffee today costs you $3 and tomorrow it’s going to cost you $9 and the day after it’s going to cost you a dollar, that’s a problem from a consumer-mindset standpoint.”\n\nThe Mastercard chief financial officer added:\n\nSo we view crypto more as an asset class.\n\n“But as a payment instrument, we think stablecoins and CBDCs potentially have a little bit more runway,” Mehra concluded.\n\n\nIn February, Mastercard expanded its payments-focused consulting service to include cryptocurrency. The service covers “a range of digital currency capabilities, from early-stage education, risk assessments, and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.”\n\nThe payments giant filed 15 trademark applications in April for a wide range of metaverse and non-fungible token (NFT) services. In June, the company said it is bringing its payments network to web3 and NFTs.",
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"content": "The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink<br /><br /><br />Several reports detail that U.S. Federal Reserve officials are resolute on tightening monetary policy and increasing the federal funds rate until inflation in America is alleviated. Chicago Fed president Charles Evans explained on Tuesday that the central bank would likely keep up the larger than usual rate hikes until inflation is remedied.<br /><br />The Fed Is ‘Nowhere Near’ Done When It Comes to Tighter Policy, Central Bank Has Not Seen a ‘Turn in Inflation’<br />The Federal Reserve is in a predicament as inflation in America is the highest its been since the 1980s. On Tuesday, a report quoting three members of the U.S. central bank indicates that the Fed’s policymakers are still convinced more rate hikes are needed to tame the country’s rising inflation.<br /><br />San Francisco Fed president Mary Daly explained during a Linkedin interview “we are still resolute and completely united” in getting inflation down. Daly stressed the Fed was “nowhere near” done as far as implementing monetary policy measures and in terms of fighting inflation, she said the central bank still has “a long way to go.”<br /><br />The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink<br />On Tuesday, the president and CEO of the Federal Reserve Bank of San Francisco Mary Daly said: “People are still struggling with the higher prices they’re paying and the rising prices. The number of people who can’t afford this week what they paid for with ease six months ago just means our work is far from done.”<br />“My modal outlook, or the outlook I think is most likely, is really that we raise interest rates and then we hold them there for a while at whatever level we think is appropriate,” Daly remarked. Cleveland Fed president Loretta Mester’s opinion was similar, as she told the Washington Post (WP): “we have more work to do because we have not seen that turn in inflation.”<br /><br />The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink<br />The president and CEO of the Federal Reserve Bank of Cleveland Loretta Mester told WP: “I don’t believe we’re in a recession — Certainly, activity has slowed, and you’re right, the GDP report showed negative growth for two quarters in a row, but you have to actually look at the composition of that growth to discern what parts of the economy are slowing.”<br />Chicago Fed president Charles Evans shared his opinion this Tuesday as well. Evans explained to reporters that the Fed would likely continue large interest rate increases until inflation is down. While he spoke about larger than usual rate hikes in the 75 bps range, Evans also clarified that a 50 basis point rate hike could still happen.<br /><br />The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink<br />The president and CEO of the Federal Reserve Bank of Chicago Charles Evans said: “I am still hopeful we can do 50 bps hike in September and then continue with 25 bps rate hikes until the beginning of the second quarter of 2023. We have to be mindful that inflationary pressures may be broadening out.”<br />“If you really thought things weren’t improving… 50 bps is a reasonable assessment, but 75 bps could also be okay. I doubt that more would be called for,” Evans said. Amid the hawkish statements from the Fed members on Tuesday afternoon (EST), cryptocurrencies, stocks, and gold markets dropped in value. The U.S. dollar, on the other hand, has strengthened against the Japanese yen and other major fiat currencies after a brief downturn.<br /><br /><br />Volatility Strikes Equities, Gold, Cryptocurrencies<br />By the closing bell on Tuesday, all of the major stock indexes were down, including the Dow Jones Industrial Average, Nasdaq, NYSE, and the S&P 500. Cryptocurrency markets also shed some gains and the market capitalization is hovering just above $1.13 trillion. Bitcoin (BTC) slipped under the $23K per unit zone and ethereum (ETH) dropped under $1,600 per coin on Tuesday.<br /><br />During the course of the day on Tuesday, both leading crypto assets managed to climb back above those regions. The following day on August 3, the entire crypto economy is up just over 2%. Equities and the crypto economy have started showing a bit more volatility as tensions rise between China and Taiwan. Gold is also down this month as one ounce of fine gold exchanged hands for $1,810 per unit on July 1, and today gold is trading for $1,765 per unit.<br /><br />The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink<br /><br />Analysts say gold’s recent slide is due to a strong U.S. dollar as the DXY index charts show the greenback remains robust after it dropped last week. “Gold pared gains after Wall Street became optimistic that tensions between the two world’s largest economies would get out-of-hand,” OANDA’s senior market analyst Edward Moya told Kitco News. “A strong dollar is also weighing on gold, as the greenback’s pullback over the past couple weeks appears to be over.”",
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"content": "The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink\n\n\nSeveral reports detail that U.S. Federal Reserve officials are resolute on tightening monetary policy and increasing the federal funds rate until inflation in America is alleviated. Chicago Fed president Charles Evans explained on Tuesday that the central bank would likely keep up the larger than usual rate hikes until inflation is remedied.\n\nThe Fed Is ‘Nowhere Near’ Done When It Comes to Tighter Policy, Central Bank Has Not Seen a ‘Turn in Inflation’\nThe Federal Reserve is in a predicament as inflation in America is the highest its been since the 1980s. On Tuesday, a report quoting three members of the U.S. central bank indicates that the Fed’s policymakers are still convinced more rate hikes are needed to tame the country’s rising inflation.\n\nSan Francisco Fed president Mary Daly explained during a Linkedin interview “we are still resolute and completely united” in getting inflation down. Daly stressed the Fed was “nowhere near” done as far as implementing monetary policy measures and in terms of fighting inflation, she said the central bank still has “a long way to go.”\n\nThe Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink\nOn Tuesday, the president and CEO of the Federal Reserve Bank of San Francisco Mary Daly said: “People are still struggling with the higher prices they’re paying and the rising prices. The number of people who can’t afford this week what they paid for with ease six months ago just means our work is far from done.”\n“My modal outlook, or the outlook I think is most likely, is really that we raise interest rates and then we hold them there for a while at whatever level we think is appropriate,” Daly remarked. Cleveland Fed president Loretta Mester’s opinion was similar, as she told the Washington Post (WP): “we have more work to do because we have not seen that turn in inflation.”\n\nThe Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink\nThe president and CEO of the Federal Reserve Bank of Cleveland Loretta Mester told WP: “I don’t believe we’re in a recession — Certainly, activity has slowed, and you’re right, the GDP report showed negative growth for two quarters in a row, but you have to actually look at the composition of that growth to discern what parts of the economy are slowing.”\nChicago Fed president Charles Evans shared his opinion this Tuesday as well. Evans explained to reporters that the Fed would likely continue large interest rate increases until inflation is down. While he spoke about larger than usual rate hikes in the 75 bps range, Evans also clarified that a 50 basis point rate hike could still happen.\n\nThe Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink\nThe president and CEO of the Federal Reserve Bank of Chicago Charles Evans said: “I am still hopeful we can do 50 bps hike in September and then continue with 25 bps rate hikes until the beginning of the second quarter of 2023. We have to be mindful that inflationary pressures may be broadening out.”\n“If you really thought things weren’t improving… 50 bps is a reasonable assessment, but 75 bps could also be okay. I doubt that more would be called for,” Evans said. Amid the hawkish statements from the Fed members on Tuesday afternoon (EST), cryptocurrencies, stocks, and gold markets dropped in value. The U.S. dollar, on the other hand, has strengthened against the Japanese yen and other major fiat currencies after a brief downturn.\n\n\nVolatility Strikes Equities, Gold, Cryptocurrencies\nBy the closing bell on Tuesday, all of the major stock indexes were down, including the Dow Jones Industrial Average, Nasdaq, NYSE, and the S&P 500. Cryptocurrency markets also shed some gains and the market capitalization is hovering just above $1.13 trillion. Bitcoin (BTC) slipped under the $23K per unit zone and ethereum (ETH) dropped under $1,600 per coin on Tuesday.\n\nDuring the course of the day on Tuesday, both leading crypto assets managed to climb back above those regions. The following day on August 3, the entire crypto economy is up just over 2%. Equities and the crypto economy have started showing a bit more volatility as tensions rise between China and Taiwan. Gold is also down this month as one ounce of fine gold exchanged hands for $1,810 per unit on July 1, and today gold is trading for $1,765 per unit.\n\nThe Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink\n\nAnalysts say gold’s recent slide is due to a strong U.S. dollar as the DXY index charts show the greenback remains robust after it dropped last week. “Gold pared gains after Wall Street became optimistic that tensions between the two world’s largest economies would get out-of-hand,” OANDA’s senior market analyst Edward Moya told Kitco News. “A strong dollar is also weighing on gold, as the greenback’s pullback over the past couple weeks appears to be over.”",
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"content": "Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors<br /><br /><br /><br />Singapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo.<br /><br />Vauld to Have 3 Months for Restructuring, Due Diligence by Nexo<br /><br />The Singapore High Court has granted the parent company of crypto lender Vauld, Defi Payments Ltd., a three-month protection from creditors, Bloomberg reported, noting this would allow Vauld to restructure and prepare for a potential acquisition by competitor Nexo, a major player in the crypto lending market.<br /><br />Justice Aedit Abdullah approved a moratorium until Nov. 7 during a court hearing on Monday. During said period, Vauld’s 147,000 creditors will be barred from taking legal action against it. It had asked for three more months but the judge expressed concerns that that a six-month protection would not ensure “adequate supervision and monitoring.”<br /><br />Nevertheless, the moratorium can be extended, based on assessment of the firm’s engagement with the creditors, he pointed out. Its progress in that respect will be taken into account during the next hearing. Abdullah asked the firm to form a creditors committee to address the outstanding issues in the meantime.<br /><br />The cryptocurrency lender is also expected to provide details, including on cash flow and valuation of assets, to its creditors in two weeks’ time and regarding the management of its accounts in eight weeks, the judge added.<br /><br />A series of failures in the crypto lending sector will likely lead to greater regulatory scrutiny, the report remarks. Companies like Voyager Digital, Babel Finance, and Celsius Network were hit by the crypto market downturn this year. Singapore’s central bank has already indicated it is mulling the introduction of more consumer safeguards in the crypto space.<br /><br /><br /><br />Nexo Optimistic About Possible Vauld Acquisition<br /><br />Soon after reassuring customers about the health of its business in mid-June, Vauld started laying off employees. On July 4, it announced suspension of withdrawals and started talks with Nexo seeking to sell itself to its competitor.<br /><br />The two signed an indicative term sheet granting Nexo a 60-day exploratory period for a possible acquisition. According to correspondence to creditors sent by CEO Darshan Bhatija on July 11, Vauld had $330 million in assets and $400 million in liabilities at the group level.<br /><br />Nexo’s co-founder and Managing Partner Antoni Trenchev told Bloomberg the lender remains optimistic about the transaction while also noting it will take time to “to understand the liabilities, the receivables, who the counterparties are, what are the prospects of getting those receivables” and all other aspects in order to make a decision on the matter.<br /><br />A lawyer representing Defi Payments, Sheila Ng, said that the company will allow a minimum withdrawal for its creditors, given the court’s decision. The move will concern Vauld users with cryptocurrency balances in their accounts, institutional lenders that have lent funds to Defi Payments, and vendors.<br /><br />",
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"content": "Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors\n\n\n\nSingapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo.\n\nVauld to Have 3 Months for Restructuring, Due Diligence by Nexo\n\nThe Singapore High Court has granted the parent company of crypto lender Vauld, Defi Payments Ltd., a three-month protection from creditors, Bloomberg reported, noting this would allow Vauld to restructure and prepare for a potential acquisition by competitor Nexo, a major player in the crypto lending market.\n\nJustice Aedit Abdullah approved a moratorium until Nov. 7 during a court hearing on Monday. During said period, Vauld’s 147,000 creditors will be barred from taking legal action against it. It had asked for three more months but the judge expressed concerns that that a six-month protection would not ensure “adequate supervision and monitoring.”\n\nNevertheless, the moratorium can be extended, based on assessment of the firm’s engagement with the creditors, he pointed out. Its progress in that respect will be taken into account during the next hearing. Abdullah asked the firm to form a creditors committee to address the outstanding issues in the meantime.\n\nThe cryptocurrency lender is also expected to provide details, including on cash flow and valuation of assets, to its creditors in two weeks’ time and regarding the management of its accounts in eight weeks, the judge added.\n\nA series of failures in the crypto lending sector will likely lead to greater regulatory scrutiny, the report remarks. Companies like Voyager Digital, Babel Finance, and Celsius Network were hit by the crypto market downturn this year. Singapore’s central bank has already indicated it is mulling the introduction of more consumer safeguards in the crypto space.\n\n\n\nNexo Optimistic About Possible Vauld Acquisition\n\nSoon after reassuring customers about the health of its business in mid-June, Vauld started laying off employees. On July 4, it announced suspension of withdrawals and started talks with Nexo seeking to sell itself to its competitor.\n\nThe two signed an indicative term sheet granting Nexo a 60-day exploratory period for a possible acquisition. According to correspondence to creditors sent by CEO Darshan Bhatija on July 11, Vauld had $330 million in assets and $400 million in liabilities at the group level.\n\nNexo’s co-founder and Managing Partner Antoni Trenchev told Bloomberg the lender remains optimistic about the transaction while also noting it will take time to “to understand the liabilities, the receivables, who the counterparties are, what are the prospects of getting those receivables” and all other aspects in order to make a decision on the matter.\n\nA lawyer representing Defi Payments, Sheila Ng, said that the company will allow a minimum withdrawal for its creditors, given the court’s decision. The move will concern Vauld users with cryptocurrency balances in their accounts, institutional lenders that have lent funds to Defi Payments, and vendors.\n\n",
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"content": "Bitcoin Valley' Launches in Honduras — 60 Businesses Accept BTC to Boost Crypto-Tourism<br />'Bitcoin Valley' Launches in Honduras — 60 Businesses Accept BTC to Boost Tourism<br /><br />Bitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Businesses in the area will accept bitcoin for payments. “In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers,” said a local business owner.<br /><br />Bitcoin Valley: First Bitcoin City in Honduras<br />Bitcoin Valley, the first bitcoin city in Honduras, has launched in the small Honduran tourist town of Santa Lucia, located 20 minutes from the capital city of Tegucigalpa.<br /><br />The initiative was jointly developed by Blockchain Honduras, Guatemalan cryptocurrency exchange Coincaex, the Technological University of Honduras, Decentral Academy, and Santa Lucia’s municipality. Blockchain Honduras announced the launch of Bitcoin Valley Thursday.<br /><br />Cesar Andino, owner of Los Robles shopping square in Santa Lucia where several commercial establishments operate, will accept bitcoin in addition to U.S. dollars and Honduran lempiras. He told La Prensa publication last week that he is waiting to receive a point-of-sale (POS) device that would allow him to accept the cryptocurrency, adding:<br /><br />In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers.<br /><br />“We have to globalize. We cannot close ourselves off from technology and we cannot be left behind when other countries are already doing it,” he added.<br /><br />Carlos Leonardo Paguada Velasquez, founder of Blockchain Honduras and a representative of the Central American Association of Cryptocurrency Users (Acucrip), told the publication a few days before the official launch of Bitcoin Valley:<br /><br />Around 60 businesses will start with the Bitcoin Valley project.<br /><br />He noted that owners of these businesses have received training by Decentral Academy on the use of bitcoin and the technology behind it.<br /><br /><br />Coincaex is providing POS devices to merchants to allow them to accept BTC. Regarding the volatility of bitcoin, Paguada explained that Coincaex “assumes all risks.”<br /><br />For example, he said if a family buys pupusas in a restaurant in Santa Lucia and pays with bitcoin, the equivalent purchase amount in lempiras will be deducted from the family’s bitcoin wallet. Coincaex will receive BTC and transfer the payment in lempiras to the restaurant. “Business owners will not receive bitcoin. They will receive lempiras from Coincaex,” he clarified.<br /><br />Ruben Carbajal Velazquez, professor at the Technological University, was quoted by Reuters as saying: “Santa Lucia’s community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism.”",
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"content": "Bitcoin Valley' Launches in Honduras — 60 Businesses Accept BTC to Boost Crypto-Tourism\n'Bitcoin Valley' Launches in Honduras — 60 Businesses Accept BTC to Boost Tourism\n\nBitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Businesses in the area will accept bitcoin for payments. “In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers,” said a local business owner.\n\nBitcoin Valley: First Bitcoin City in Honduras\nBitcoin Valley, the first bitcoin city in Honduras, has launched in the small Honduran tourist town of Santa Lucia, located 20 minutes from the capital city of Tegucigalpa.\n\nThe initiative was jointly developed by Blockchain Honduras, Guatemalan cryptocurrency exchange Coincaex, the Technological University of Honduras, Decentral Academy, and Santa Lucia’s municipality. Blockchain Honduras announced the launch of Bitcoin Valley Thursday.\n\nCesar Andino, owner of Los Robles shopping square in Santa Lucia where several commercial establishments operate, will accept bitcoin in addition to U.S. dollars and Honduran lempiras. He told La Prensa publication last week that he is waiting to receive a point-of-sale (POS) device that would allow him to accept the cryptocurrency, adding:\n\nIn Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers.\n\n“We have to globalize. We cannot close ourselves off from technology and we cannot be left behind when other countries are already doing it,” he added.\n\nCarlos Leonardo Paguada Velasquez, founder of Blockchain Honduras and a representative of the Central American Association of Cryptocurrency Users (Acucrip), told the publication a few days before the official launch of Bitcoin Valley:\n\nAround 60 businesses will start with the Bitcoin Valley project.\n\nHe noted that owners of these businesses have received training by Decentral Academy on the use of bitcoin and the technology behind it.\n\n\nCoincaex is providing POS devices to merchants to allow them to accept BTC. Regarding the volatility of bitcoin, Paguada explained that Coincaex “assumes all risks.”\n\nFor example, he said if a family buys pupusas in a restaurant in Santa Lucia and pays with bitcoin, the equivalent purchase amount in lempiras will be deducted from the family’s bitcoin wallet. Coincaex will receive BTC and transfer the payment in lempiras to the restaurant. “Business owners will not receive bitcoin. They will receive lempiras from Coincaex,” he clarified.\n\nRuben Carbajal Velazquez, professor at the Technological University, was quoted by Reuters as saying: “Santa Lucia’s community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism.”",
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"content": "Apecoin DAO Approves Funding a Bored Ape-Centric News Publication<br /><br /><br />Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with plans to “ramp up” Bored Ape news coverage.<br /><br />Apecoin DAO to Fund a Bored Ape-Focused News Site for 12 Months<br />Members of the Apecoin DAO have hired their own news publication for the next 12 months according to the governance proposal AIP-70. According to the proposal, the operator of the news site The Bored Ape Gazette says the publication has “grown exponentially over the past year.”<br /><br />The publication’s operator insists that he is “committed to building a trusted source of information for this community and I would like to expand the operations into continuous research, analysis, and reporting across the ecosystem.”<br /><br />The Bored Ape Gazette’s sole writer and editor figures it will cost $150K for the next 12 months of operation and the funds will go toward “coverage of all things ape will ramp up from 1-2 stories a day to 3-5.” The Bored Ape Gazette will focus on keeping the Apecoin DAO community “better informed” as the owner intends to draft “bi-weekly newsletters and in-depth reports.”<br /><br /><br />The Bored Ape Gazette plans to do interviews with AIP authors and interviews with community members debating specific governance proposals. The Apecoin DAO’s community and governance system utilize the crypto asset apecoin (APE). The digital currency is currently the 34th largest crypto by market capitalization and APE’s overall market valuation today is just over $2 billion.<br /><br />During the last 30 days, APE has gained 44% against the U.S. dollar but it’s down 74% from the crypto asset’s all-time price high of $26.70. The Bored Ape Gazette’s coverage delves into a great deal of BAYC-centric news, in general, that discusses subjects tied to all things ape.<br /><br />News coverage includes categories like “Famous Apes,” “Club News,” “Roadmap 2.0,” and “Notable Sales.” Besides BAYC, the publication also covers subjects like the Mutant Ape Yacht Club (MAYC) NFTs, Meetbits, Yuga Labs, Bored Ape Kennel Club (BAKC), and NFT marketplaces.<br /><br /><br />Similarweb statistics show that The Bored Ape Gazette has a global website rank of 865,175 and has seen 52.4K visits. The site’s visits are down 45.68% lower than the month prior with Taiwan and the U.S. being the news site’s top traffic regions.<br /><br />“Over the next year, we believe that The Bored Ape Gazette will become the go-to news source for every member of this community,” The Bored Ape Gazette’s AIP says. “With the support of the DAO, the Bored Ape Gazette website will become a 24-hour style news site.”<br /><br />Furthermore, the official Apecoin DAO Twitter account explained this week that The Bored Ape Gazette’s AIP had passed and thanked everyone for participating in the governance process.",
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"content": "Apecoin DAO Approves Funding a Bored Ape-Centric News Publication\n\n\nApecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with plans to “ramp up” Bored Ape news coverage.\n\nApecoin DAO to Fund a Bored Ape-Focused News Site for 12 Months\nMembers of the Apecoin DAO have hired their own news publication for the next 12 months according to the governance proposal AIP-70. According to the proposal, the operator of the news site The Bored Ape Gazette says the publication has “grown exponentially over the past year.”\n\nThe publication’s operator insists that he is “committed to building a trusted source of information for this community and I would like to expand the operations into continuous research, analysis, and reporting across the ecosystem.”\n\nThe Bored Ape Gazette’s sole writer and editor figures it will cost $150K for the next 12 months of operation and the funds will go toward “coverage of all things ape will ramp up from 1-2 stories a day to 3-5.” The Bored Ape Gazette will focus on keeping the Apecoin DAO community “better informed” as the owner intends to draft “bi-weekly newsletters and in-depth reports.”\n\n\nThe Bored Ape Gazette plans to do interviews with AIP authors and interviews with community members debating specific governance proposals. The Apecoin DAO’s community and governance system utilize the crypto asset apecoin (APE). The digital currency is currently the 34th largest crypto by market capitalization and APE’s overall market valuation today is just over $2 billion.\n\nDuring the last 30 days, APE has gained 44% against the U.S. dollar but it’s down 74% from the crypto asset’s all-time price high of $26.70. The Bored Ape Gazette’s coverage delves into a great deal of BAYC-centric news, in general, that discusses subjects tied to all things ape.\n\nNews coverage includes categories like “Famous Apes,” “Club News,” “Roadmap 2.0,” and “Notable Sales.” Besides BAYC, the publication also covers subjects like the Mutant Ape Yacht Club (MAYC) NFTs, Meetbits, Yuga Labs, Bored Ape Kennel Club (BAKC), and NFT marketplaces.\n\n\nSimilarweb statistics show that The Bored Ape Gazette has a global website rank of 865,175 and has seen 52.4K visits. The site’s visits are down 45.68% lower than the month prior with Taiwan and the U.S. being the news site’s top traffic regions.\n\n“Over the next year, we believe that The Bored Ape Gazette will become the go-to news source for every member of this community,” The Bored Ape Gazette’s AIP says. “With the support of the DAO, the Bored Ape Gazette website will become a 24-hour style news site.”\n\nFurthermore, the official Apecoin DAO Twitter account explained this week that The Bored Ape Gazette’s AIP had passed and thanked everyone for participating in the governance process.",
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"content": "Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days<br />Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days<br /><br />The Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring the possibilities of adopting a similar system.”<br /><br />Just Over $1.2 Million Raised Since Token Sale Commenced<br />The sale of the Central African Republic (CAR)’s Sango crypto token, which commenced on July 25, has reportedly started off slowly with just under 13 million coins having been sold to date. With the initial selling price set at $0.10 per coin, it means the CAR has now raised approximately $1.26 million since the commencement of the sale, a website tracking the token sale has shown.<br /><br />As previously reported by Bitcoin.com News, investors that wish to acquire their share of the 210 million Sango coins on offer must fork out a minimum of $500. Prospective buyers can pay using BTC or ETH.<br /><br />While details about the coin sale as well as the technology used to anchor the crypto token remain murky, a press statement released by a team that is promoting the project appeared to address these and other concerns. In the statement, the CAR team starts by addressing reports that the Sango coin is backed by bitcoin. The CAR team said:<br /><br />SANGO, the coin of the Sango sidechain, will be fractionally backed by Bitcoin, which in simple terms means that the Central African Republic Treasury will consist of a Bitcoin reserve fund.<br /><br />Being backed by bitcoin, therefore, means “Sango will be able to operate with wrapped Bitcoin (s-BTC) in the Sango ecosystem.”<br /><br /><br />Sango Immune to De-Pegging Risk<br />According to the CAR’s leadership, bitcoin is an “optimal solution for a digital store of value, allowing citizens to democratize money and currency.” The press release also said, “benefits include, partial decentralization and no risks of de-pegs, differentiating SANGO from stablecoins and CBDCs and ensuring that current monetary problems will be surpassed.”<br /><br />In the press statement, the Sango team acknowledges that while the CAR has received a backlash over its decision to make bitcoin legal tender. However, in the press release, the team claimed the move has attracted the attention of leading figures in the crypto industry like Changpeng Zhao and Michael Saylor.<br /><br />The statement also claimed the CAR has also been praised by “other African countries exploring the possibilities of adopting a similar system.” However, the statement does not reveal the names of the said countries.",
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"content": "Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days\nCentral African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days\n\nThe Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring the possibilities of adopting a similar system.”\n\nJust Over $1.2 Million Raised Since Token Sale Commenced\nThe sale of the Central African Republic (CAR)’s Sango crypto token, which commenced on July 25, has reportedly started off slowly with just under 13 million coins having been sold to date. With the initial selling price set at $0.10 per coin, it means the CAR has now raised approximately $1.26 million since the commencement of the sale, a website tracking the token sale has shown.\n\nAs previously reported by Bitcoin.com News, investors that wish to acquire their share of the 210 million Sango coins on offer must fork out a minimum of $500. Prospective buyers can pay using BTC or ETH.\n\nWhile details about the coin sale as well as the technology used to anchor the crypto token remain murky, a press statement released by a team that is promoting the project appeared to address these and other concerns. In the statement, the CAR team starts by addressing reports that the Sango coin is backed by bitcoin. The CAR team said:\n\nSANGO, the coin of the Sango sidechain, will be fractionally backed by Bitcoin, which in simple terms means that the Central African Republic Treasury will consist of a Bitcoin reserve fund.\n\nBeing backed by bitcoin, therefore, means “Sango will be able to operate with wrapped Bitcoin (s-BTC) in the Sango ecosystem.”\n\n\nSango Immune to De-Pegging Risk\nAccording to the CAR’s leadership, bitcoin is an “optimal solution for a digital store of value, allowing citizens to democratize money and currency.” The press release also said, “benefits include, partial decentralization and no risks of de-pegs, differentiating SANGO from stablecoins and CBDCs and ensuring that current monetary problems will be surpassed.”\n\nIn the press statement, the Sango team acknowledges that while the CAR has received a backlash over its decision to make bitcoin legal tender. However, in the press release, the team claimed the move has attracted the attention of leading figures in the crypto industry like Changpeng Zhao and Michael Saylor.\n\nThe statement also claimed the CAR has also been praised by “other African countries exploring the possibilities of adopting a similar system.” However, the statement does not reveal the names of the said countries.",
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"content": "<br />SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms<br />SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms<br /><br />The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief revealed.<br /><br />SEC Chairman Gary Gensler’s Video About Regulating Crypto Exchanges<br />U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler published a video Thursday explaining how the securities watchdog plans to regulate crypto exchanges and provide investor protection.<br /><br />Gensler explained in the video the similarities and differences between crypto trading platforms and traditional exchanges like the New York Stock Exchange (NYSE). “When you trade on a stock market, you have certain protections,” he began, adding that investors are “protected against fraud, manipulation, running, and the like.”<br /><br />Noting that crypto platforms serve “millions, sometimes tens of millions” of retail customers who are directly buying and selling crypto assets without going through a broker, the SEC chairman detailed: “With so many retail customers trading on crypto platforms, we should make sure that those platforms offer similar protections” to traditional security platforms. He added:<br /><br />So I’ve asked our staff to work directly with the platforms to get them registered and regulated to ensure that those crypto tokens come in as well and register where appropriate as securities.<br /><br />“Imagine handing over all of your stock to the New York Stock Exchange, that would never fly,” he noted, reiterating: “Thus, I’ve asked staff how to work with platforms to best ensure your assets are protected.”<br /><br />Gensler then brought up another risk factor inherent to crypto exchanges. “Unlike traditional securities exchanges, crypto trading platforms also may act as market makers,” he described. “When you sell your tokens, one of the platforms may actually be buying on the other side,” the SEC chairman stressed, elaborating:<br /><br />Stock exchanges don’t do this, they don’t serve as their own market makers because that creates inherent conflicts of interest.<br /><br />“Thus again, I’ve asked staff to consider whether it would be appropriate to segregate out the market-making functions on these crypto platforms,” he said.<br /><br /><br />In conclusion, the SEC chairman stressed: “There’s no reason to treat the crypto market differently just because a different technology is used. That would be like saying drivers of electric cars don’t need seat belts because they don’t use gas.”<br /><br />He also tweeted Thursday: “We have rules in our capital markets to safeguard market integrity & protect against fraud & manipulation. If a company builds a crypto market that protects investors & meets the standard of our market regulations, people will more likely have greater confidence in that market.”<br /><br /><br /><br />Gensler’s video received some criticism on Twitter. Some people accuse Gensler of spending time and resources promoting himself instead of doing his job regulating the crypto sector. Others slammed the SEC for using an enforcement-centric approach to regulating crypto assets.<br /><br />Congressman Bill Huizenga (R-MI) tweeted to Gensler, “The SEC should stop using regulation by enforcement to provide ‘clarity’ in the marketplace,” elaborating:<br /><br />No exchange wants to ‘come in and register’ without knowing what those market regulations are.<br /><br />Last week, the regulator charged a former Coinbase employee in an insider trading case, naming nine crypto tokens as securities in the process.",
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"content": "\nSEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms\nSEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms\n\nThe chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief revealed.\n\nSEC Chairman Gary Gensler’s Video About Regulating Crypto Exchanges\nU.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler published a video Thursday explaining how the securities watchdog plans to regulate crypto exchanges and provide investor protection.\n\nGensler explained in the video the similarities and differences between crypto trading platforms and traditional exchanges like the New York Stock Exchange (NYSE). “When you trade on a stock market, you have certain protections,” he began, adding that investors are “protected against fraud, manipulation, running, and the like.”\n\nNoting that crypto platforms serve “millions, sometimes tens of millions” of retail customers who are directly buying and selling crypto assets without going through a broker, the SEC chairman detailed: “With so many retail customers trading on crypto platforms, we should make sure that those platforms offer similar protections” to traditional security platforms. He added:\n\nSo I’ve asked our staff to work directly with the platforms to get them registered and regulated to ensure that those crypto tokens come in as well and register where appropriate as securities.\n\n“Imagine handing over all of your stock to the New York Stock Exchange, that would never fly,” he noted, reiterating: “Thus, I’ve asked staff how to work with platforms to best ensure your assets are protected.”\n\nGensler then brought up another risk factor inherent to crypto exchanges. “Unlike traditional securities exchanges, crypto trading platforms also may act as market makers,” he described. “When you sell your tokens, one of the platforms may actually be buying on the other side,” the SEC chairman stressed, elaborating:\n\nStock exchanges don’t do this, they don’t serve as their own market makers because that creates inherent conflicts of interest.\n\n“Thus again, I’ve asked staff to consider whether it would be appropriate to segregate out the market-making functions on these crypto platforms,” he said.\n\n\nIn conclusion, the SEC chairman stressed: “There’s no reason to treat the crypto market differently just because a different technology is used. That would be like saying drivers of electric cars don’t need seat belts because they don’t use gas.”\n\nHe also tweeted Thursday: “We have rules in our capital markets to safeguard market integrity & protect against fraud & manipulation. If a company builds a crypto market that protects investors & meets the standard of our market regulations, people will more likely have greater confidence in that market.”\n\n\n\nGensler’s video received some criticism on Twitter. Some people accuse Gensler of spending time and resources promoting himself instead of doing his job regulating the crypto sector. Others slammed the SEC for using an enforcement-centric approach to regulating crypto assets.\n\nCongressman Bill Huizenga (R-MI) tweeted to Gensler, “The SEC should stop using regulation by enforcement to provide ‘clarity’ in the marketplace,” elaborating:\n\nNo exchange wants to ‘come in and register’ without knowing what those market regulations are.\n\nLast week, the regulator charged a former Coinbase employee in an insider trading case, naming nine crypto tokens as securities in the process.",
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"content": "IMF Warns of Further Crypto Selloffs and More Coins Failing<br />IMF Warns of Further Crypto Selloffs and More Coins Failing<br /><br />A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail.<br /><br />IMF Foresees More Crypto Selling Pressure<br />Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the crypto market and more crypto token failures in an interview with Yahoo Finance Wednesday.<br /><br />He said:<br /><br />We could see further selloffs, both in crypto assets and in risky asset markets, like equities.<br /><br />“There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail,” he detailed. The IMF director also expects crypto to drop even further amid a recession.<br /><br />In May, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) imploded, prompting SEC Chairman Gary Gensler to warn that a lot of crypto tokens will fail.<br /><br />Adrian also warned about the potential for fiat-backed stablecoins to experience runs, something that both Treasury Secretary Janet Yellen and the Federal Reserve have also cautioned about.<br /><br />Speaking of tether (USDT) in particular, the IMF executive stressed, “There’s some vulnerability there because they’re not backed one to one.” He noted that some stablecoins “are backed by somewhat risky assets,” emphasizing, “it is certainly a vulnerability that some of the stablecoins are not fully backed by cash-like assets.”<br /><br />Nonetheless, Adrian does not see an immediate threat on par with the 2008 financial crisis, stating:<br /><br />What was very worrisome in the 2008 crisis was that the banks were highly exposed to the shadow banks, and we don’t see this exposure of banks to shadow banks through crypto at the moment.<br /><br /><br />Moreover, the IMF director noted that regulations are needed to protect investors and the financial system. Noting the sheer number of cryptocurrencies in existence, Adrian opined:<br /><br />Regulating the coins themselves is going to be difficult, but regulating the entry points such as exchanges and wallet providers to invest in those coins, that’s something that is very concrete and very feasible.<br /><br />The IMF also published a report Tuesday stating: “Crypto assets have experienced a dramatic sell-off that has led to large losses in crypto investment vehicles and caused the failure of algorithmic stablecoins and crypto hedge funds, but spillovers to the broader financial system have been limited so far.”",
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"content": "IMF Warns of Further Crypto Selloffs and More Coins Failing\nIMF Warns of Further Crypto Selloffs and More Coins Failing\n\nA director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail.\n\nIMF Foresees More Crypto Selling Pressure\nTobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the crypto market and more crypto token failures in an interview with Yahoo Finance Wednesday.\n\nHe said:\n\nWe could see further selloffs, both in crypto assets and in risky asset markets, like equities.\n\n“There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail,” he detailed. The IMF director also expects crypto to drop even further amid a recession.\n\nIn May, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) imploded, prompting SEC Chairman Gary Gensler to warn that a lot of crypto tokens will fail.\n\nAdrian also warned about the potential for fiat-backed stablecoins to experience runs, something that both Treasury Secretary Janet Yellen and the Federal Reserve have also cautioned about.\n\nSpeaking of tether (USDT) in particular, the IMF executive stressed, “There’s some vulnerability there because they’re not backed one to one.” He noted that some stablecoins “are backed by somewhat risky assets,” emphasizing, “it is certainly a vulnerability that some of the stablecoins are not fully backed by cash-like assets.”\n\nNonetheless, Adrian does not see an immediate threat on par with the 2008 financial crisis, stating:\n\nWhat was very worrisome in the 2008 crisis was that the banks were highly exposed to the shadow banks, and we don’t see this exposure of banks to shadow banks through crypto at the moment.\n\n\nMoreover, the IMF director noted that regulations are needed to protect investors and the financial system. Noting the sheer number of cryptocurrencies in existence, Adrian opined:\n\nRegulating the coins themselves is going to be difficult, but regulating the entry points such as exchanges and wallet providers to invest in those coins, that’s something that is very concrete and very feasible.\n\nThe IMF also published a report Tuesday stating: “Crypto assets have experienced a dramatic sell-off that has led to large losses in crypto investment vehicles and caused the failure of algorithmic stablecoins and crypto hedge funds, but spillovers to the broader financial system have been limited so far.”",
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"content": "Finder's Experts See 'Fairly Bright Future' for Binance Coin — Predict BNB Reaching $781 by 2025 and $1,814 by 2030<br />Finder's Experts See 'Fairly Bright Future' for Binance Coin — Predict BNB Reaching $781 by 2025 and $1,814 by 2030<br /><br />A panel of crypto industry experts “sees a fairly bright future ahead” for Binance coin, predicting bnb to rise to $781 by 2025 and $1,814 by the end of 2030. One expert explained that “Since the bnb chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.”<br /><br />BNB’s Price Predictions<br />Price comparison portal Finder updated its binance coin (BNB) price predictions Monday. The company explained that earlier this month, it surveyed a “panel of 54 industry specialists to give their predictions on binance coin’s price between now and 2030.”<br /><br />Finder detailed:<br /><br />Our panel thinks Binance coin (BNB) will be worth $274 by the end of 2022 before rising to $781 by 2025.<br /><br />The panel also expects binance coin’s price to continue to grow, “surging to $1,814 by the end of 2030.”<br /><br />At the time of writing, BNB is trading at $265.71, up 3.4% in the last 7 days and 14.5% in the last 30 days, based on data from Bitcoin.com Markets. Binance coin is the world’s fifth-largest cryptocurrency by market capitalization.<br /><br />Ben Ritchie, the managing director of Digital Capital Management and one of the experts on the panel, “is bullish on BNB, expecting the coin’s value to hit $300 by the end of the year,” Finder noted.<br /><br />“The price of BNB also follows the demand and supply. BNB introduced a burn mechanism in every transaction fee and conducted quarterly burns, making it a deflationary asset,” Ritchie described. “BNB Chain also plans to support a layer 2 chain within the network, which can be helpful in the future as they may suffer the same gas fees issues as Ethereum.” He elaborated:<br /><br />Since the BNB chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.<br /><br /><br />The experts were also asked whether it is time to buy, sell, or hold binance coin right now. Finder noted:<br /><br />While the panel sees a fairly bright future ahead for BNB, just 20% say it’s time to buy. The majority (50%) of the panel say it’s worth holding onto your BNB, with a further 30% advising sell.<br /><br />The panel includes university directors, crypto exchange executives, crypto research analysts, and executives of various firms with crypto-related products.<br /><br />Finder’s experts also recently made predictions about several other cryptocurrencies, including bitcoin (BTC), ether (ETH), cardano (ADA), and solana (SOL). In May, the panel predicted the death of the meme cryptocurrency shiba inu (SHIB).",
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"content": "Finder's Experts See 'Fairly Bright Future' for Binance Coin — Predict BNB Reaching $781 by 2025 and $1,814 by 2030\nFinder's Experts See 'Fairly Bright Future' for Binance Coin — Predict BNB Reaching $781 by 2025 and $1,814 by 2030\n\nA panel of crypto industry experts “sees a fairly bright future ahead” for Binance coin, predicting bnb to rise to $781 by 2025 and $1,814 by the end of 2030. One expert explained that “Since the bnb chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.”\n\nBNB’s Price Predictions\nPrice comparison portal Finder updated its binance coin (BNB) price predictions Monday. The company explained that earlier this month, it surveyed a “panel of 54 industry specialists to give their predictions on binance coin’s price between now and 2030.”\n\nFinder detailed:\n\nOur panel thinks Binance coin (BNB) will be worth $274 by the end of 2022 before rising to $781 by 2025.\n\nThe panel also expects binance coin’s price to continue to grow, “surging to $1,814 by the end of 2030.”\n\nAt the time of writing, BNB is trading at $265.71, up 3.4% in the last 7 days and 14.5% in the last 30 days, based on data from Bitcoin.com Markets. Binance coin is the world’s fifth-largest cryptocurrency by market capitalization.\n\nBen Ritchie, the managing director of Digital Capital Management and one of the experts on the panel, “is bullish on BNB, expecting the coin’s value to hit $300 by the end of the year,” Finder noted.\n\n“The price of BNB also follows the demand and supply. BNB introduced a burn mechanism in every transaction fee and conducted quarterly burns, making it a deflationary asset,” Ritchie described. “BNB Chain also plans to support a layer 2 chain within the network, which can be helpful in the future as they may suffer the same gas fees issues as Ethereum.” He elaborated:\n\nSince the BNB chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.\n\n\nThe experts were also asked whether it is time to buy, sell, or hold binance coin right now. Finder noted:\n\nWhile the panel sees a fairly bright future ahead for BNB, just 20% say it’s time to buy. The majority (50%) of the panel say it’s worth holding onto your BNB, with a further 30% advising sell.\n\nThe panel includes university directors, crypto exchange executives, crypto research analysts, and executives of various firms with crypto-related products.\n\nFinder’s experts also recently made predictions about several other cryptocurrencies, including bitcoin (BTC), ether (ETH), cardano (ADA), and solana (SOL). In May, the panel predicted the death of the meme cryptocurrency shiba inu (SHIB).",
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"content": "<br /><br />Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains<br /><br /><br />Ethereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s session. These gains came as prices rose for a second consecutive day, with tron also extending recent gains during hump day. Overall, the crypto market cap is 1.51% higher as of writing.<br /><br />Ethereum Classic (ETC)<br />Ethereum classic (ETC) was a notable mover in today’s session, as the token rose by almost 15% on Wednesday.<br /><br />Following a low of $23.72 on Tuesday, ETC/USD rallied to an intraday peak of $27.51 earlier in the day.<br /><br />The move saw ethereum classic near its long-term resistance level of $28, which has been mostly held since May 6.<br /><br /><br />ETC/USD – Daily Chart<br />Last Saturday saw the token briefly breakout of this point, climbing to $28.23, which was the highest level prices have traded since May.<br /><br />Looking at the chart, the 14-day relative strength index (RSI) is currently tracking at 68.44, which is slightly below a resistance level of 70.<br /><br />If ETC is to maintain this current run of momentum, price strength will need to move beyond this upcoming ceiling.<br /><br /><br />Tron (TRX)<br />In addition to ETC, tron (TRX) was also up for a second straight day, as prices continued to move away from a recent support point.<br /><br />TRX/USD rallied to an intraday high of $0.06631 in today’s session, which is over 3% higher than yesterday’s low of $0.06383.<br /><br />Today’s rally comes after TRX bounced from its price floor of $0.06300 during yesterday’s session, as bulls put an end to a five-day losing streak.<br /><br /><br />TRX/USD – Daily Chart<br />As seen from the chart, this rebound comes despite the 10-day moving average (red), crossing over downward against the 25-day MA (blue).<br /><br />Typically, such a cross signals a downtrend, however sentiment has now seemingly shifted in favor of bulls.<br /><br />However, this might soon be tested, with relative strength fast approaching a resistance level of 49.85.",
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"content": "\n\nBiggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains\n\n\nEthereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s session. These gains came as prices rose for a second consecutive day, with tron also extending recent gains during hump day. Overall, the crypto market cap is 1.51% higher as of writing.\n\nEthereum Classic (ETC)\nEthereum classic (ETC) was a notable mover in today’s session, as the token rose by almost 15% on Wednesday.\n\nFollowing a low of $23.72 on Tuesday, ETC/USD rallied to an intraday peak of $27.51 earlier in the day.\n\nThe move saw ethereum classic near its long-term resistance level of $28, which has been mostly held since May 6.\n\n\nETC/USD – Daily Chart\nLast Saturday saw the token briefly breakout of this point, climbing to $28.23, which was the highest level prices have traded since May.\n\nLooking at the chart, the 14-day relative strength index (RSI) is currently tracking at 68.44, which is slightly below a resistance level of 70.\n\nIf ETC is to maintain this current run of momentum, price strength will need to move beyond this upcoming ceiling.\n\n\nTron (TRX)\nIn addition to ETC, tron (TRX) was also up for a second straight day, as prices continued to move away from a recent support point.\n\nTRX/USD rallied to an intraday high of $0.06631 in today’s session, which is over 3% higher than yesterday’s low of $0.06383.\n\nToday’s rally comes after TRX bounced from its price floor of $0.06300 during yesterday’s session, as bulls put an end to a five-day losing streak.\n\n\nTRX/USD – Daily Chart\nAs seen from the chart, this rebound comes despite the 10-day moving average (red), crossing over downward against the 25-day MA (blue).\n\nTypically, such a cross signals a downtrend, however sentiment has now seemingly shifted in favor of bulls.\n\nHowever, this might soon be tested, with relative strength fast approaching a resistance level of 49.85.",
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