Boris Johnson Quits as Pressure From Ministerial Resignations Mounts

“It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister,” Johnson said in a broadcast from outside his Downing Street home. “As we’ve seen at Westminster, the herd instinct is powerful. When the herd moves, it moves. And, my friends, in politics no one is remotely indispensable.” Source

British investment managers call for the blockchain-traded funds’ approval

The Investment Association, a trade body representing British investment managers, is speeding up the local government and financial regulators to approve blockchain-traded funds with digital tokens substituting traditional shares.  As the Financial Times reported on Thursday, the trade body is pushing the government to establish a new class of funds employing blockchain technology and create a new task force to examine how distributed ledger technology could accelerate the creation of new products and services. The reasons behind such a push, according to the Investment Association, are the possible significant cost…

Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation – Bitcoin News

The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances to cash out via formal channels failed to incentivize the forex market and has therefore not achieved the bank’s goal of halting the naira’s depreciation, a report has said. According to one report in a…

Genesis Trading CEO confirms 3AC exposure, parent company helps plug losses

Digital Currency Group’s market maker and lending firm Genesis Trading has confirmed that it had investment exposure in the now-liquidated Three Arrows Capital (3AC). The insolvency and subsequent liquidation order of the embattled company sent shockwaves through the cryptocurrency space last week amid an ongoing downturn across crypto markets. A major talking point was the stake other prominent companies had in the now-defunct cryptocurrency hedge fund and the ongoing fallout. Genesis Trading is among prominent lending firms that had exposure to 3AC, which has now been confirmed by CEO Michael…

Sandbox (SAND) Having A Blast With 12% Spike In 24 Hours

Sandbox (SAND) was one of the most active cryptocurrencies on Thursday, with values increasing by as much as 14 percent. After reaching a low of $1.13 on Wednesday, the SAND/USD pair reached a session high of $1.28 earlier today. The token reached its highest level since June 25 and drew closer to a crucial resistance level as a result. During the same timeframe, the market capitalization of the token increased by 15 percent. It was valued at $1.58 billion as of press time, according to data from Coingecko. Suggested Reading | ATOM Rises To Multi-Week…

Blockchain Security Firm Files Patent for Ransomware Solution EB Drive

Blockchain networking company Everything Blockchain Inc. has applied for a patent for its Blockchain drive (EB Drive). As traditional data storage mainly exists on local or network hard drives is vulnerable to ransomware attacks. Despite data being encrypted, there are other disadvantages such as decrypting data, lack of backups and restoring data. Everything Blockchain, Inc. designs and develops software solutions. The Company provides blockchain technology software solutions, including cryptocurrency, smart contracts, decentralized data management, and cryptographic security. EB drives said they are able to store data in a mutable blockchain ledger,…

U.S. Federal Panel Claims Cryptocurrencies Can Boost The Economy, Will It Result In Bullish Trend?

The talks to allow digital currencies to exist in U.S. economy are underway. The suggestion is to achieve this by linking cryptocurrencies to the U.S. dollar. This contemplation took place on Tuesday at a meeting held by the U.S. Fed. At the meeting, a panel of speakers stated that the dollar status would gain more strength with crypto assets in the U.S. economy. Moreover, this will also give a boost to the digital currency industry. Strength Of Dollar Could Improve Through Cryptocurrencies The current state of cryptocurrencies is still posing…

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Key Bitcoin chart ‘will confirm bottom is in’ by July 15, says trader

Bitcoin (BTC) is due to give a definitive signal that a macro bottom is in this month, one analyst has concluded. In a Twitter thread on July 6, popular commentator Wolf eyed key moving average data as proof that BTC price action will not be going lower. Key chart crossover eyed as end to bear market losses Amid repeated calls for BTC/USD to revisit levels not seen since Q4 2020, one simple historical trend is now saying that the pair has already seen its latest macro lows. Analyzing the 3-day…