​Bitcoin - A Possible Slide to the $45,000 Mark, Following Predicted Fed Rate Cuts


Bitfinex market professionals are forecasting a drop in Bitcoin's value to approximately $40,000 this coming September, an anticipated effect of potential cuts in the federal interest rates. These analysts foresee that a decrease in the federal rates by 25 basis points could spark an incremental ascension in Bitcoin's value following a knee-jerk sell-off event. They caution, however, that this leap might just be a flash in the pan, potentially succeeded by a downturn reminiscent of past market episodes when drastic rate cuts set off an initial boom in asset prices before being blunted by brewing economic uncertainties. They point towards the looming Federal Open Market Committee assembly and imminent rate cuts as paramount turning points not just for Bitcoin, but the wider cryptocurrency market as a whole.


Sentiment: Neutral
​Read Article

​Singaporean Rubber Stamp Allows OKX Free Range of Crypto Services, Including Ex-Regulator As Chief


Singapore's Monetary Authority has given OKX, a global crypto exchange, the nod to start operating full scale through its subsidiary, OKX SG. The permission has come in the form of a Major Payment Institution license. The license, granted on September 2nd, will enable OKX SG to provide a slew of services like digital payment tokens, cross-border money transfers, and spot trading for its Singapore clientele. The approval from the Singaporean regulator is not fresh news though. OKX SG was in fact given an in-principle approval in February 2024.

The other headline-grabbing aspect of this development is the appointment of Gracie Lin as CEO of OKX SG. Gracie brings in a cocktail of experience from her stints at Grab, the Monetary Authority of Singapore (MAS), and GIC. Her role at OKX SG will be to spearhead strategic initiatives, leveraging her extensive experience in the industry.


Sentiment: Positive
​Read Article

​Cryptocurrency ETFs Make History with Unprecedented Inflows in 2024


Year 2024 stood witness to a significant upsurge in cryptocurrency ETFs, which constituted more than half of the top 25 most massive ETF launches by inflows. Nate Geraci, president of The ETF store, revealed that cryptocurrency ETFs led with four of the largest by year-to-date inflows being Bitcoin spot ETFs. In fact, it's "three times the largest one-year inflow of any ETF ever in the history of ETFs," affirmed LaValle.

The Fidelity Wise Origin Bitcoin Fund took the lead with around $10 billion in net inflows, closely followed by ARK 21Shares Bitcoin ETF and Bitwise Bitcoin ETF Trust, each securing nearly $2 billion. Industry researcher, Morningstar confirmed that these funds had crossed the $1 billion threshold by August.

Further advancements were observed with the introduction of cutting-edge single-asset funds like Solana ETFs and diversified crypto indexes like the Hashdex Nasdaq Crypto Index ETF. The resonance of the crypto market in 2024 with a surge of almost 400 new ETF launches is noteworthy. The rising tide of crypto ETFs is indicative of the growing investor interest in digital assets, which are now seen as a viable investment alternative.


Sentiment: Positive
​Read Article

​FTC Rings Alarm on Crypto ATM Scams with Average Tolls Hitting $10,000


In a recent move, the Federal Trade Commission (FTC) has put out an alert over Crypto ATM scams, a growing threat to digital currency investors. These scams are reported to be costing victims an appalling average of $10,000. The warning comes as a part of the agency's ongoing effort to protect consumers from potentially damaging fraud activities in the rapidly expanding field of cryptocurrency. Cryptocurrency enthusiasts are urged to stay vigilant against any suspicious schemes involving digital currency transactions.


Sentiment: Concerned
​Read Article

​Analysts Predict Sunny Days Ahead for Bitcoin Thanks to Lenient Fed Policies


With Federal Reserve policies easing up and significant macroeconomic trends blooming globally, it seems that Bitcoin might be strapping itself in for a bullish joyride, according to market analysts. With these key indicators lighting up the crypto dashboard, the Bitcoin weather forecast has taken a decidedly positive turn. While these sunny predictions sound enticing, it's always healthy to remember that the world of Bitcoin is often as unpredictable as a 'coin toss'. So, hold onto your cryptos and brace yourselves for a thrilling ride down the virtual currency highway!


Sentiment: Positive
​Read Article

​HBAR Dives Under $0.05 Following CEO's Departure from HBAR Foundation


It was a bumpy ride for HBAR as it took a swooning dip under the $0.05 mark. This rapid plunge comes right after the CEO of the HBAR Foundation handed over his reins and bid adieu to the crypto world. It appears that the market didn't take the news of his exit lightly and reacted in kind. As the value of HBAR teeters at this precarious juncture, investors and crypto enthusiasts alike are watching the waves closely. Evidently, the CEO's departure has brought tremors that were felt far beyond the HBAR foundation's walls. As the world of cryptocurrency waits to see what comes next, HBAR floats in somewhat choppy waters, with its existing and potential investors likely gripping their armrests with suspense.


Sentiment: Negative
​Read Article

​TON Blockchain Races Past 1 Billion Transaction Milestone


The Open Network (TON), Telegram's blockchain project, has frolicked past a staggering milestone of 1 billion total transactions as verified by TON Scan. TON, recently blazing through over a colossal figure of 1.02 billion transactions, in which half of this recorded figure happened just within the span of the last quarter. The previous month saw the collaboration of TON Core and Tonkeeper yielding the W5 smart wallet standard. This standard served as a vehicle for facilitating gasless transactions within the ecosystem of the TON blockchain with USDT playing its role as the transaction fee.

A prolific bout between August 27-29 marked a significant period for TON, with 20 million transactions processed with the cryptocurrency DOGS leading the pack as it accounted for over 30% of the activity. Crypto savant Maartun brought forward the intriguing tidbit that during peak times, transaction activity involving DOGS neared a hefty proportion of around 35% of all transactions in certain blocks, stamping an average of 100 transactions processed in mere seconds.


Sentiment: Positive
​Read Article

​Crypto Giants Rally for Harris: $100K Blockchain Fundraiser on the Horizon


The cryptocurrency community, led by the Blockchain Foundation and other crypto cornerstones, is rustling up a hefty $100K fundraiser for Kamala Harris. The ambitious event aims to reshape Harris' views on crypto and catalyse discussions around potential policy changes favoring digital assets under a possible Harris administration. Brian Nelson, a notable campaign adviser, whilst vague on specific policy layouts, expressed that Harris is open to policies that could nurture technology growth. Harris, currently ahead in national polls, and notably more cryptic on crypto than Trump, faces new challenges in the light of crypto community's support. Although the handshake between blockchain giants and Harris seems coolly promising, there are no rigid commitments on the table yet.


Sentiment: Neutral
​Read Article

​Next U.S. President Urged to Clear the Fog on Cryptocurrency Rules


Regardless of who emerges victorious in the forthcoming U.S. election, the new president should strive for regulatory transparency in the crypto sector, as stated by Lucy Gazmararian, founder and managing director of Token Bay Capital. She believes that it's high time someone put some elbow grease into creating a practical guideline for the ever-evolving crypto market. Although recent roundtable discussions surrounding cryptocurrency have been a step in the right direction, the lack of commitment from Kamala Harris's VP, has caused some palpitations among crypto followers. However, one cannot overlook the significant tailwinds that former President Donald Trump has generated within the crypto community, receiving a thumbs-up from industry leaders for his crypto-friendly approach. But as the market continues to evolve, the need for clear regulation becomes increasingly important.


Sentiment: Neutral
​Read Article

​El Salvador Toasts To Landmark Bitcoin Experiment


In a turn of events that can only be described as "digital gold fever", El Salvador has proudly labeled its Bitcoin adoption experiment as a roaring success. The Central American nation shrugged off the bearish undercurrents and embraced the world of crypto, proclaiming the journey as one painted exclusively with 'benefits'. While the narrative of the story might be shorter than a newbie's crypto portfolio, it leaves no room for dissatisfaction. Perhaps, the question isn't 'To Bitcoin or not to Bitcoin,' but rather, 'To El Salvador or not to El Salvador'?


Sentiment: Amused
​Read Article

​Crypto Big Fish Unload a Whopping $326M Cardano Post-Chang Hard Fork


Despite the current state of the network, Cardano’s value recovery appears doubtful. Over the past 10 days, holders who possess between $100,000 to $1 million in ADA have begun selling their holdings. This spree was kick-started right after the recent Chang hard fork event. It seems these cryptocurrency titans are offloading, possibly in anticipating market corrections. Usually, such calculated moves by crypto heavyweights can trigger a market correction. This is primarily due to the fading excitement after grand events, which generally leads to a downward slope for token prices. The investment accumulation of these large-scale stakeholders in ADA has been rather paltry of late. This has added to Cardano’s struggle to make strides in price growth.


Sentiment: Assuming
​Read Article

​Cryptocurrency Hacks in August Account for $313 Million in Losses


Last month, the ever-swinging pendulum of crypto fortune took a sizeable dip, as the industry coughed up a staggering $313 million due to hacks. This is equivalent to One Punch Man fans' tears when waiting for season two. With over ten distinct instances, it seems these digital desperados had a field day. In a particularly audacious move, one crypto holder was relieved of $55.4 million in Dai in the blink of an eye, faster than your wifi router's ability to keep a steady connection. The 'hacktivist' casually swapped the assets for Ethereum, as if trading mint chocolate chip ice cream for vanilla.

Although the crypto knights managed to recover $12 million, the remaining $5.1 million went poof, faster than your resolution to hit the gym every day. Detailed reports from cybersecurity platform Immunefi reveal that the total loss to hacks and digital bear hugs or 'rug pulls' sums up to a heart-stopping $1.21 billion this year alone, leading some to wonder if these hackers are planning their own Mars colony.

The damage inflicted in July was mainly due to the big hit on WazirX, an Indian cryptocurrency exchange. In a show of unfortunate luck that parallels forgetting your umbrella on a rainstorm, WazirX saw a jaw-dropping $234.9 million evaporate from one of its wallets, leaving them a bit lighter and more than a tad distraught.


Sentiment: Satirical
​Read Article

​SEC in Hot Water for Questioning Stablecoin Repayment in FTX Bankruptcy Case


The Securities and Exchange Commission (SEC) seems to have a bee in its bonnet over cryptocurrencies again. This time, it's not keen on the idea of FTX considering paying their creditors back with stablecoins or other digital currencies due to legal jitters. This concern was recently documented in an SEC filing, hinting that they might throw a challenge at the legality of such repayments.

Attorney and strategic advisor, James Murphy, expressed his frustration over the SEC's visually impaired stance on crypto transactions on September 2nd. He referenced the 2022 Voyager bankruptcy, which, interestingly, involved a similar SEC saga. Voyager tossed in the towel and filed for Chapter 11 bankruptcy in July 2022, after a financial turmoil triggered by the fall of its major debtor, Three Arrows Capital.

The SEC had a firsthand seat at the Voyager debacle, expressing concerns over the plan to repay customers using stablecoins. They used their "big uncle" voice to suggest that these could be deemed unregistered securities. Doesn't this sound like déjà vu?

With the SEC's recent warning to FTX, it seems they are preparing to dust off their old song sheet and sing the same tune about challenging the legality of stablecoin repayments. As we await the next chorus, it seems like crypto companies might have to get their dancing shoes on.


Sentiment: Amused
​Read Article

​Ukraine Eyes Cryptocurrency Legalization for Tax Revenue Boost


In a bid to pump up its tax revenue, Ukraine is considering the legalization of cryptocurrency, as suggested by Deputy Minister of Digital Transformation, Oleksandr Bornyakov. According to Bornyakov, this strategic move might encourage new forms of tax revenues. A staggered tax rate on income from crypto transactions for individuals is being proposed: starting at 5% for the initial three years, moving up to 9% for the following five years, with the rate eventually settling at 18% beyond eight years. Meanwhile, crypto providers will be taxed 18%, or 9% on withdrawn capital if aligned with the special Diya.City regime. This tax strategy is expected not only to spur the crypto market's growth but also instill tax-paying values among its users. The deputy minister alluded to significant economic downturns suffered by Ukraine between 2016 and 2022 due to unregulated crypto activities, which resulted in a $48.8B loss in personal and corporate income and a depletion of $4B in tax revenues.


Sentiment: Neutral
​Read Article

​Scots Courts Confiscate £110,000 in Crypto Case - A First in Scottish Legal History


A pioneer in the wrong direction, John Ross Rennie from Cambuslang, has had £110,000 worth of cryptocurrency seized by the Crown in a noteworthy first for Scottish law. Playing out quite the drama in court, Rennie was involved in a violent robbery with the goal of stealing cryptocurrency and this bold move made him the leading man of the first case where prosecutors used the proceeds of crime legislation to try and seize Bitcoin and convert it into physical cash. This unprecedented legal step didn't just make history but pushed the police into the unfamiliar territory of tracing stolen cryptocurrency - another first, courtesy of our trailblazer Rennie. As for Rennie's lawyer, Marco Guarino, it seems he's thoroughly caught up in the novelty of it all, labelling this case as "unusual throughout".


Sentiment: Negative
​Read Article

​Telegram In the Red Despite Robust Crypto Business


Despite its increasingly thriving crypto department, messaging app Telegram's financial records show it's operating at a loss. The filings, reported from the company's legal base in the British Virgin Islands, depict a pretty grim picture. With revenues tipping the scales at $342 million, the company ended up with a net loss of $259 million in 2023. Notably, a significant contributor to these revenues came from Telegram's integrated crypto wallet, which brought in $130 million. This makes Telegram's crypto operations outshine its other sources of income. The platform attracts users to its crypto services by selling wallets and quirky "Collectables" such as personalized usernames and special phone numbers. These items are exclusively available for purchase using Toncoin, Telegram’s very own cryptocurrency. The sheer size of Telegram's crypto holdings is worth a mention as it surpasses the company's cash reserves.


Sentiment: Concerned
​Read Article

​Maduro On A Quest to Traverse The Cryptocurrency Trail Again


In a move that left the world's crypto enthusiasts raising an intrigued eyebrow, Venezuelan President Nicolas Maduro is considering a return to the technicoloured landscape of digital currencies. The proposal, which hit the headlines recently, didn't come with an itinerary though, leaving us to pack our bags and speculate about the journey Maduro is planning. The Latin American leader has a history with cryptocurrencies, so this isn't uncharted territory. However, the route this time around is as clear as fog on a Bitcoin mine. Regardless of the modalities, this development definitely reiterates one thing - Mr. Maduro still regards cryptocurrencies as a valuable tool. Whether this is to stimulate economic growth or just to buy a lifetime pass to the Blockbuster theme park, only time will tell. For now, all we crypto fans can do is keep our blockchain binoculars ready and watch as the saga unfolds.


Sentiment: Amused
​Read Article

​"Choco-Thugs Wield Machete and Toblerone in a Bitcoin Heist"


In an unlikely blend of crime and confectionery, a group of home invaders eschewed conventional weapon selections, proudly flaunting a machete and a Toblerone to rob a presumably bewildered victim of his Bitcoin. The use of a sweet symbol of Swiss neutrality, a Toblerone, as an unconventional tool of intimidation further adds a bizarre twist to this already confounding story. Details about the aftermath and the status of the Bitcoin in question remain shadowy, mirroring the ambiguous status of cryptocurrency regulations and security worldwide.


Sentiment: Humorous
​Read Article

​Bitcoin Behemoth Bags $490 Million Worth Caught in 4 Days


A hefty Bitcoin purchase was noticed on the 2nd of September, when a single investor hooked a ginormous bunch of 1,000 BTC, dropping a cool $57.3 million in the process. This marks the second time in a span of mere four days that this whale has been seen frolicking around, catching an additional 1,000 BTC on its way, and bumping the total Bitcoin haul up to 2,000. Currently, this aquatic tycoon sports a treasure trove of 8,559 BTC, which would net a stunning $490 million if cashed in.

These Bitcoin shopping sprees coincided oddly with the Bitcoin price plunging by almost 8% within the last week, accompanying the financial market's ride into September. Although Bitcoin has been learning how to dive, it might be thrown a flotation device by a potential Federal Reserve rate cut, as suggested by QCP, turning the trend on its head.

Putting its scuba gear to good use, Bitcoin is diving deep despite crypto exchange balance tides lowering and its dominance growing. But nothing is certain beneath the waves of the cryptosphere. Bitfinex market analysts suggest that the Bitcoin might be swept away by strong currents induced by uncertainty tied to the upcoming Federal Reserve decision. If the Fed decides for a modest 25 basis point cut, Bitcoin may taste long-term gains, brought about by increased liquidity. More aggressive plunge, a 50 basis point cut, may trigger an upward price surge followed by a potentially deep correction as recession fears are creating waves.


Sentiment: Amused
​Read Article

​Bitcoin worth over $1b decides to take a 7-day vacation from Exchanges


In a surprise move, Bitcoin worth more than $1 billion decided to pack its digital bags and bid a hasty adieu to various exchanges, all within a span of seven days. While it's a common observation to see coins moving to and fro in the crypto world, this significant exit has raised multiple eyebrows in the industry. Although the source doesn't reveal much, we're left to ponder the reason behind this impressive evacuation. Some might think - was it a well-planned mass exodus or was it Bitcoin's way of taking a much-needed break from being tossed around! For now, all we have are speculations but it definitely shows the unpredictable nature of the cryptocurrency market.


Sentiment: Amused
​Read Article

​Australian Digital Dollar Gains Support from UDPN, a Stablecoin SWIFT-Like Bridge


Digital pecuniary enthusiasts Down Under have some exciting news coming their way as the SWIFT-like bridge for stablecoins, UDPN, extends its warm, crypto-loving hands to the Australian Digital Dollar. Crypto is truly going global now, one may say!

This tech upgrade seems to spell out a 'g'day mate' for stablecoins in the Australian financial landscape. UDPN, stepping into the light as an enabler, stands poised to ensure smooth and secure transactions leveraging the power of these digital tokens.

Stablecoins have been making ripple effects in the financial ocean worldwide, and their adoption has seen a steady incline. The Australian Digital Dollar is obviously more than keen to hop onto this joy ride, and UDPN's support could just be the kickstarter it needs!

Cryptocurrency and finance gurus might just need to relook at their calendars, as with moves like these it seems Christmas has come early for the crypto fandom in Australia.

So, hold tight to your digital wallets, folks. The world of cryptocurrency, it seems, has decided not to leave any stone (or should we say stablecoin?) unturned.


Sentiment: Positive
​Read Article