Day: August 7, 2023

UAE signs deal to develop carbon credit system on Venom Foundation blockchain

The United Arab Emirates (UAE) Ministry of Climate Change and Environment (MCCE) is developing a carbon credit system in a preliminary partnership with Industrial Innovation Group and Venom Foundation. Blockchain technology is utilized by organizations and countries to track carbon credits. Due to the immutable nature of data inscribed on-chain, these credits can be securely sold or traded with total transparency for all interested parties. This allows government organizations, such as the UAE’s MCCE, to sell or issue credits to businesses. Credit holders can either spend the credits — which…

Singapore Red Cross To Accept BTC, ETH, USDT, And USDC

boss

Cryptocurrency payments have been increasingly widespread in recent years, with their use spreading to nearly every market. A use case of cryptocurrencies that has seen particular growth is in crypto donations and the Singapore Red Cross has now taken the plunge. Singapore Red Cross Taking Crypto Donations The Singapore Red Cross is the latest to jump on the crypto bandwagon as the homegrown humanitarian organization recently partnered with Triple-A, allowing donors to contribute Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC).  The country’s Red Cross Society is looking…

Buffett and Ackman take opposing sides on Treasury yields — What does it mean for Bitcoin?

boss

Warren Buffett and Bill Ackman are two of the most successful investors in the world, but they have taken opposing views on the bond market in recent months. Only one can be right. Billionaire investor Bill Ackman says he is shorting US Treasuries. if long-term inflation is 3% not 2%, the 30y Treasury yield could rise to 5.5%. In contrast, Warren Buffett has announced buying positions in 10y US Treasuries. Shorting US 10y bonds seems… pic.twitter.com/X2zSPzJ91Y — Holger Zschaepitz (@Schuldensuehner) August 5, 2023 Buffett has been buying short-term Treasury bills,…

5 Questions About PayPal’s Ethereum-Based Stablecoin (PYUSD)

In reality, PayPal would probably just not allow that (since, let’s face it, this stablecoin is not even pretending to be decentralized), but if getting frozen funds out of PayPal develops as a genuine use case for PYUSD then the benefit of the virtuous cycle of an oppressive banking system will accrue to PayPal (and the consumer with the frozen funds, but to PayPal too). Source

Is Worldcoin Just Another LUNA? Crypto Influencer Reveals

boss

Worldcoin (WLD) has recently emerged as a subject of fervent discussion especially due to its biometric data collection through retina scans. Its launch came in amid the growing interest in decentralized finance (DeFi) and blockchain technology as well as new tokens and projects constantly striving to stand out and make a significant impact. Among the voices guiding investors through the labyrinthine world of crypto is Jordi Alexander, a renowned crypto influencer and the chief alchemist of the Mantle Network. Recently, he stirred conversations by drawing a parallel between Worldcoin and…

Mantle Introduces New Governing Body for Treasury Management

Mantle’s staking strategy with Lido includes allocating 40,000 ETH from Mantle treasury to stETH as a way “to bootstrap DEX liquidity and integrations across Mantle,” said Lido contributor “Seraphim,” in a forum discussion. Mantle’s treasury currently holds more than 264,000 ETH, according to its website. Source

Huobi Denies Executive Arrest Reports as Exchange Witnesses Outflow Surge

boss

Prominent cryptocurrency exchange Huobi has refuted claims that its executives have been arrested in China. Over the weekend, news reports suggested that Chinese authorities had detained several Huobi executives. Meanwhile, increased outflows from the platform have been observed, media reports said. According to data provided by Nansen.ai, Huobi’s stablecoin exchange balances have contracted by 33% within the past week. Traders have withdrawn approximately $49 million from the platform in stablecoins. Colin Wu from Wu Blockchain had previously hinted at the detention and investigation of senior Huobi executives by Chinese police.…

Bitcoin Price (BTC) Unlikely to Get Bullish Catalyst

boss

Aiming to tame galloping inflation in 2022, the U.S. Federal Reserve early last year embarked on a string of rate hikes, taking its fed funds target range from a range of 0% to 0.25% to the current 5.25%-5.50% range. That historic pace of monetary tightening was at least in part responsible for the big decline in the price of bitcoin, which has dropped from above $69,000 late in 2021 to close out 2022 around the $16,000 level. Original

Bitcoin faces ‘endless spot selling’ as BTC price dips below $28.7K

boss

Bitcoin (BTC) fell below $28,700 after the Aug. 7 Wall Street open as “endless spot selling” drove BTC price action lower. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders brace for losses as $29,000 support breaks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning nearer to its August lows after a shaky weekly close. The start of United States trading offered no signs of relief for bulls after a weekend of sideways behavior, with traders and analysts already predicting a downward outcome once the impasse broke. Commenting on the…