“The impending U.S. August CPI data will likely show a rebound in inflation, which means the Federal Reserve (Fed) will probably take additional liquidity-tightening measures to curb reflation. In liquidity redistribution, crypto assets are prioritized last, which means that the liquidity stored in crypto assets could be withdrawn and invested in assets such as cash or U.S. stocks,” Ardern said. Source
Day: September 12, 2023
One Year After Trudeau's Bitcoin Warning, BTC Still Beat Inflation and S&P 500
Despite bitcoin’s tumultuous year, the world’s largest digital asset proved to be a reliable hedge against inflation. And a number of Liberal MPs own it. Original
Bitget exec says KYC is useful to filter out illegitimate users
Crypto exchange Bitget has grown significantly despite the challenges brought by the bear market. In 2023, the exchange announced two $100 million funds—one dedicated to crypto projects in Asia and another for maximizing the company’s long-term impact in the crypto space. At the Bitget EmpowerX Summit held in Singapore, Cointelegraph’s Zhiyuan Sun spoke with Gracy Chen, the managing director of Bitget. The two spoke about Bitget’s growth amid the bear market, pausing its expansion in Hong Kong and the United States and why they believe that implementing Know Your Customer (KYC)…
Bitcoin (BTC) Price Tanks Under $25K, Altcoins Face Even Deeper Crash
Bitcoin and the broader crypto market have come under major selling pressure amid news of the FTX creditor liquidation. On Monday, September 11, the world’s largest cryptocurrency Bitcoin (BTC) faced a major price correction with its price taking a dip under $25K. However, the BTC price has recovered since and is currently trading at $25,807 levels. On the technical charts, the BTC price has formed a death cross pattern with its 50-day short-term moving average having breached its 200-day short-term moving average. This suggests strong bearish formations on the technical…
Binance to Airdrop $3M in BNB to Users Affected by Morocco Earthquake
Users who had verified their address details for Sept. 9 to show they live in Marrakesh-Safi province will each receive $100 worth of the token. Source
Vitalik Buterin Says SIM Swap Caused X Account Hack
In response to the security breach, another Ethereum developer, Tim Beiko, strongly recommended users remove their phone numbers from X accounts and enable 2FA as a security measure. Ethereum co-founder Vitalik Buterin has recently shed light on the cause behind the security breach of his X (Twitter) account. In a shocking revelation, Buterin attributed the exploit to a SIM-swap attack, a form of cybercrime that has become increasingly prevalent in the digital age. Buterin, a prominent figure in the crypto industry, shared the details of the attack while speaking on…
Coinbase Prime Launches Innovative Web3 Wallet for Retail and Institutional Clients
The tool seamlessly integrates with Coinbase Prime accounts, simplifying access to Web3 features directly and eliminating the need for multiple app downloads, thereby enhancing the overall user experience. Coinbase has announced the launch of the Coinbase Prime Web3 Wallet to provide secure and useful services to its institutional and retail clients. The significance of launching a Web3 wallet cannot be overstated, as it plays a central role in providing an exceptional user experience within a decentralized digital landscape. The company wrote: “We are excited to announce the launch of the…
Tesla (TSLA) Shares Surge More than 10% after Morgan Stanley Analysts’ Prediction
Morgan Stanley had to upgrade its target price for Tesla shares for the next 12 to 18 months, from $250 to $400. Following a Monday report of an upgraded prediction by Morgan Stanley analysts, Tesla shares have now gained 10.09%. In an optimistic note to investors, the investment bank shared how it foresees the electric vehicle (EV) maker selling AI technology to other automakers. Additionally, Morgan Stanley also sees Tesla cutting down on the cost of chips by using its own GPUs. That is, at least, for as much as…
Can Pepe Coin Bounce Back? Insights On Its Future
Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance. The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side. As of the latest data from CoinGecko, the coin is…
Crypto Custody Firm Qredo Adds USDC Stablecoin to Non-Custodial Wallet
Qredo’s new toolkit comprises a number of elements, including Circle’s “cross-chain transfer protocol” for minting, redeeming, and transacting with USDC across multiple networks. This is combined with software from Etherspot, a specialist in making web3 transactions frictionless, and Qredo’s open source payment rails, dubbed QSign. Source