Day: August 14, 2023

Goldman Foresees Q2 2024 Fed Rate Cut: A Boost For Bitcoin?

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In a recent note that has caught the attention of both traditional financial markets and the Bitcoin community, Goldman Sachs economists, including the renowned Jan Hatzius and David Mericle, have made a significant prediction regarding the Federal Reserve’s monetary policy. The note suggests that the Federal Reserve may commence a series of interest rate cuts by the end of June 2024. “The cuts in our forecast are driven by this desire to normalize the funds rate from a restrictive level once inflation is closer to target,” the Goldman economists wrote.…

PayPal to roll out Cryptocurrencies Hub for select users

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Payments giant PayPal, which recently launched the dollar-backed stablecoin PayPal USD (PYUSD), updated its terms and conditions to introduce Cryptocurrencies Hub — a feature that allows users to hold and interact with Bitcoin (BTC) and cryptocurrencies in their PayPal account. The latest PayPal terms and conditions detail the prerequisites for crypto users interested in using the platform for cryptocurrencies. The Cryptocurrencies Hub is key for PayPal to reinvent itself as a crypto-inclusive platform. According to the company, the service will allow for the sale and purchase of cryptocurrencies. In addition,…

Chainlink Hints At Potential Rally To $8

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Chainlink’s LINK price is holding the $7.30 support zone. The price could start a fresh increase if it clears the $7.50 resistance zone. Chainlink token price is showing positive signs above $7.30 against the US dollar. The price is trading above the $7.40 level and the 100 simple moving average (4 hours). There is a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could gain bullish momentum above the $7.50 resistance zone. Chainlink (LINK) Price Eyes…

Pro-Bitcoin Javier Milei wins most votes in Argentina primary election

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An Argentinian politician with a knack for supporting Bitcoin and calling for the abolishment of his country’s central bank has taken the lead in the country’s presidential primary elections. With over 90% of the votes counted, libertarian pro-Bitcoin (BTC) candidate Javier Milei is currently leading with nearly 32% and is trailed by the conservative Together for Change (Juntos por el Cambio) party which is just under 30% according to Bloomberg data. Meanwhile, the left-wing Union for the Homeland (Unión por la Patria) coalition — the current ruling government’s group —…

Coca-Cola gest Based, Reddit avatars reach 20M milestone and more

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The world’s largest soft drinks brand is delving deeper into the realm of non-fungible tokens, launching its first collection on the Coinbase layer-2 network Base. On Aug. 13 Coinbase announced the new Coca-Cola collection as part of its “Onchain Summer” event. “CocaCola is bringing their Global Masterpiece campaign onchain with iconic works from leading artists,” it stated. “The Scream” by Edvard Munch. Source: onchainsummer.xyz The Masterpiece collection brings together classic pieces such as “The Scream” by Edvard Munch along with new works from emerging talents, “all intertwined with the iconic…

Coinbase app is ‘broken’ for UX, admits CEO Brian Armstrong

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Coinbase CEO Brian Armstrong says the rise of on-chain activities on its new layer-2 network Base has exposed how “broken” the Coinbase app is for user experience, and has pledged to improve it.  In an X (Twitter) post on Aug. 13, Armstrong said a number of pain points have surfaced during “Onchain Summer” — a multi-week festival of product launches, brand activations, and non-fungible token reveals on Base that began on Aug. 9 and runs until Aug. 31. One thing #OnchainSummer is exposing is just how broken our UX is in…

Ethereum Price Rebounds But Here’s Why Upsides Might Be Limited

Ethereum price is attempting a recovery wave from the $1,835 zone against the US Dollar. ETH could start a steady increase if it clears the $1,860 resistance. Ethereum is trading in a range below the $1,860 and $1,880 resistance levels. The price is trading below $1,850 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop again if it stays below the $1,860 resistance. Ethereum Price Turns…

Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

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Uniswap dev loses job, was it worth it? A Uniswap developer known as “AzFlin” has been sacked by the founder of Uniswap Labs, Hayden Adams, for allegedly creating a memecoin and rug pulling it a few hours later for 14 wrapped-Ether (wETH), worth $25,800. It is understood that AzFlin developed and deployed FrensTech token (FRENS) on Coinbase’s new layer 2 blockchain Base on Aug 12 before selling the tokens raised from the liquidity shortly after. Adams publicly confirmed the sacking of AzFlin, adding that such behaviour is neither supported nor…

Bitcoin Price Grinds Lower and Turns Vulnerable If It Struggles Below $30K

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Bitcoin price is moving lower from the $29,500 zone. BTC is showing bearish signs and might decline further below the $29,000 support zone. Bitcoin is gaining bearish momentum below the $29,500 support. The price is trading below $29,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $29,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it remains below $30,000 for a long time. Bitcoin Price Trims Gains Bitcoin…

Sam Bankman-Fried spends 3rd night in notorious New York prison

Former FTX CEO Sam Bankman-Fried is going into his third night with over 1,500 other inmates in one of New York’s most notorious prisons — a far cry from his parent’s multi-million dollar five-bedroom home in Stanford. The FTX co-founder had his bail revoked by Judge Lewis Kaplan in an Aug. 11 hearing, where he described the Brooklyn Metropolitan Detention Center (MDC) as being a jail “not on anybody’s list of five-star facilities.” Duuude they put SBF in MDC? That’ll break him. Going to get a guilty plea within days….…