Day: July 27, 2022

Fed Hikes Benchmark Bank Rate by 75 bps, Elizabeth Warren Says Central Bank Could ‘Trigger a Devastating Recession’ – Economics Bitcoin News

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On Wednesday, the U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) in order to tame inflation and stabilize the American economy. The recent rate hike is the U.S. central bank’s third rate increase after increasing the benchmark rate by 50 bps last March. Fed Hikes Rate by 75 bps for a Second Time in a Row to Tame Inflation, Central Bank Says ‘Inflation Remains Elevated’ With inflation scorching hot in America, the U.S. Federal Reserve has raised the federal funds rate once again, increasing it…

Federal Reserve Hikes US Interest Rate by 0.75 Percentage Point

“Recent indicators of spending and production have softened,” said a statement by the Federal Open Market Committee (FOMC), a group of 12 Fed officials who set the Fed’s monetary policy. “Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the [coronavirus] pandemic, higher food and energy prices, and broader price pressures.” Source

Cardano Moves In The Red, Can The Price Of ADA Stay Above $0.46?

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Cardano trends to the downside with the crypto market recording small profits on lower timeframes. The cryptocurrency continues to move in tandem with Bitcoin and Ethereum and seems poised for some volatility over today’s trading session. Related Reading | Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days At the time of writing, Cardano (ADA) trades at $0.46 with a 2% profit in the past 24 hours and a 9% loss over the past week. ADA’s price has given out almost of the gains it recorded during the…

Mysterious Crypto Whales Accumulating Polygon and $271,000,000 Worth of Ethereum-Based Exchange Altcoin

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Several of Ethereum’s biggest whales are loading their bags in a major way as the markets try to stabilize after a rocky week of trading. According to the transaction aggregator WhaleStats, a number of cryptocurrency wallets with the root name of “BlueWhale” have been splurging hundreds of millions of dollars on discounted altcoins. The wallet with the handle BlueWhale0117 spent $4.2 million to acquire 5,192,453 tokens of the layer-2 scaling solution Polygon (MATIC). BlueWhale0117 is currently ranked #79 among rich whales, with a wallet currently worth more than $160 million.…

Celsius and BitConnect: Not so Different?

If the Celsius case finds its way to any sort of criminal action, it feels more likely to be related to unexplained individual acts, such as CEO Alex Mashinsky’s transfers of CEL tokens and other assets to his wife, than to the system’s overall design and misleading marketing. In part, Celsius’ confusing structure and rhetoric may actually help shield scrutiny of its structure, simply because it might take too much effort to convey to a jury. Source

PolkaFantasy’s New NFT Marketplace aimée Features Exclusive Collection from Mega Man’s “Beastroid” – Blockchain News, Opinion, TV and Jobs

PolkaFantasy, the world’s first Japanese ACG-dedicated blockchain ecosystem, announced the launch of their rebranded NFT marketplace, aimée, on a quest to bring people from all over the world together for their love of NFTs on August 4th and 7th. As part of the launch, aimée is featuring an exclusive NFT collection with legendary artist, Keiji Inafune-san, known as ‘Beastroid.’ Regarded for his prolific art career and contributions to Mega Men and Street Fighter, Inafune-san has lent his fantastical genius to the creation of a robot-futuristic world where Beastroid fights to save…

Strawweight Luana Pinheiro Becomes First Female UFC Fighter to Be Paid in Bitcoin – Bitcoin News

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On Wednesday, the cryptocurrency payments service company Bitwage announced that the Ultimate Fighting Championship (UFC) strawweight Luana Pinheiro will be the first female UFC fighter to be paid in bitcoin. Pinheiro’s boyfriend, a UFC flyweight fighter, started getting paid in bitcoin last March and after her eight-fight winning streak, Pinheiro decided to follow her partner’s decision to get paid in crypto. UFC Strawweight Luana Pinheiro to Get Paid in Bitcoin via Bitwage Ultimate Fighting Championship (UFC) fighters have been getting into crypto assets these days, after the UFC heavyweight champion…

Tether says it holds zero Chinese commercial paper, denies 85% exposure

Tether reports that its total commercial paper exposure has been cut to $3.7 billion from $30 billion just one year ago. The major stablecoin issuer Tether has reiterated that the company plans to completely get rid of commercial paper backing for its U.S.-dollar stablecoin USDT already this year. In a blog post on July 27, Tether said it “holds no Chinese commercial paper as of today,” while its total commercial paper exposure has been cut to $3.7 billion from $30 billion one year ago. By late August 2022, Tether said…

How CEO Alex Mashinsky Went from Bashing Banks to Bankrupting Crypto Lender Celsius.

According to Mashinsky’s website, he has founded eight startups (Arbinet, Comgates, Elematics, Transitwireless, Governing Dynamics, GroundLink, Inseego and Celsius – and was generally also the chairman, CEO or managing partner), holds 50 patents, raised more than $1.5 billion with over $3 billion in exits, “and now leads the Celsius team with over $25 [billion] in crypto assets.” Source