Day: August 25, 2023

Bitcoin Price (BTC) Posts Modest Gain Despite Hawkish Lean to Jerome Powell Jackson Hole Speech

The price of bitcoin (BTC) initially slipped a few dollars on the hawkish lean to Powell’s remarks, but has since bounced to modestly positive on the day at $26,200. The move is perhaps not surprising given the bearish tilt to bitcoin’s price action in the days leading up to the Jackson Hole event as traders anticipated Powell’s continued focus on corralling inflation back to the central bank’s 2% target. Source

Hong Kong regulator eyes tokenization for bond market improvement: Report

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The Hong Kong Monetary Authority (HKMA) released a report on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization.  In a 24-page overview, the Hong Kong regulator laid out use cases, benefits and any challenges faced during the study. The concluding sentiment being that tokenization provides improvement for the bond market. Eddie Yue, the chief executive of the HKMA, said the study highlighted the potential of deploying distributed ledger technology (DLT) to real capital markets transactions with the current legal framework…

MasterCard Axes Partnership With Binance Amid Regulatory Pressures

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The crypto space is in pandemonium after MasterCard, a global payment service giant, announced the imminent termination of its services and alliance with the Binance crypto exchange.   Mastercard To Sever All Ties To Binance Binance, the world’s largest cryptocurrency exchange by trading volume, is facing new challenges that could impact its reputation and growth rate. According to reports, Mastercard will discontinue its services on Binance, ending a years-old relationship and crypto cards programs starting Friday, September 22.  The reason for the abrupt termination has not been clarified by Mastercard. Some…

PayPal partners with Australian crypto exchange amid banking restrictions

Australian crypto exchange Independent Reserve forms a strategic alliance with PayPal, offering users enhanced funding options amidst increasing local bank restrictions. The Australian cryptocurrency exchange Independent Reserve has closed a partnership with PayPal. The partnership will allow crypto exchange customers to fund their wallets using PayPal. It will also support users looking to buy cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).  PayPal will bring two new solutions for the cryptocurrency exchange, such as a fiat on-ramp and withdrawal option support. Peter Cowan, managing director of PayPal Australia, stated…

PEPE whale seizes dip opportunity, buys $529k worth of tokens

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After the value of the frog-themed memecoin Pepe (PEPE) dropped by approximately 15% due to recent modifications in a multisig wallet and concerns about potential developer manipulation, a significant PEPE holder spent 320 Ethereum (ETH) valued at $529,000 to acquire 640 billion PEPE tokens. According to an X (formerly known as Twitter) post shared by the on-chain analytics platform, Lookonchain. The post also revealed that the whale purchased the PEPE at an average buying price of $0.000001163. Continuing its previous actions, the same whale made another move on Aug. 25,…

Academia divided over ChatGPT’s left political bias claims

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Academics are at odds over a research paper suggesting ChatGPT presents a “significant and sizeable” political bias leaning toward the left side of the political spectrum. As Cointelegraph recently reported, researchers from the United Kingdom and Brazil published a study in the Public Choice journal on Aug. 17 that asserts large language models (LLMs) like ChatGPT output text that contains errors and biases that could mislead readers and have the ability to promote political biases presented by traditional media. In an earlier correspondence with Cointelegraph, co-author Victor Rangel unpacked the…

Wen moon? Bitcoin halving cycle hints at Q4 as smart money ‘buys the rumor’

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Bitcoin (BTC) is “much more likely” to stay rangebound until at least Q4, 2023, according to longtime market participant Filbfilb. In an X thread on Aug. 25, the popular analyst and co-founder of trading suite Decentrader told readers to expect flat BTC price action into year end. Filbfilb: BTC price approaching “critical time” Bitcoin may be disappointing bulls after its 70% Q1 gains, but for Filbfilb, there is little about BTC price action this halving cycle that is different to its previous ones. “Bitcoin is 1200 days since the previous…

Giant Swan’s gothic VR dreamscapes… royalty nightmare on OpenSea – Cointelegraph Magazine

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From sitting in his car crying before work every morning to becoming a successful digital artist, the story of Australian-based VR painter and sculptor Giant Swan is one of persistence, timing and pushing boundaries.  In a world where a digital artist can now monetize their work through NFTs as opposed to cheap likes and comments on Instagram, Giant Swan stands out from the pack, being the first artist to put a 3D object on-chain and for his truly unique and immersive pieces that have captured the attention of collectors all over…

Magnate Finance on Base rug-pulls users of $6.5M, as predicted by on-chain sleuth

Magnate Finance, a lending and borrowing platform on Coinbase’s layer-2 protocol, Base, has rug-pulled its users of $6.5 million hours after on-chain sleuths like ZachXBT warned about the possibility of an exit scam due to several actions of the founders of the project. Earlier on Aug. 25, the Magnate Finance protocol deleted its Telegram group and took its website offline, raising concerns among users of a possible exit scam. Magnate Finance also deleted its X account and removed all possible social media presence. ZachXBT had notified that the Magnate Finance…