Day: September 14, 2023

The Real Reason Behind That Bitcoin Transaction With A $500,000 Fee Has Been Revealed

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In a surprising twist of events, Paxos has come forward to take the blame for the $500,000 Bitcoin fee payment after PayPal was accused of being the party responsible for the exorbitant fee transfer.  Paxos Comes Forward As Guilty Party Paxos, a New York-based blockchain infrastructure company and the issuer of PayPal USD (PYUSD) and Pax Dollar (USDP), recently admitted responsibility for a substantial $510,000 Bitcoin fee payment, the highest fee ever paid in US dollars for a single Bitcoin transaction.  The story began when several blockchain sleuths noticed the…

11 Bitcoin blockchain metrics TradFi organizations should watch

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Many who aren’t crypto industry insiders may view “Bitcoin” and “crypto” as basically synonymous. While members of the traditional finance industry know that there’s much more to crypto than Bitcoin, they also know that Bitcoin’s performance and health serve as a bellwether for the acceptance and growth of the overall crypto industry.  Monitoring select blockchain metrics can help financial institutions and investors gauge market sentiment, predict changes in values and identify investment risks and opportunities not only in terms of Bitcoin, but also the larger crypto industry. Below, 11 members…

The Rise of Blockchain-Based Securities in 2023

More pertinently to advisors, perhaps, is what’s happening on the money market & treasury fund side and the private equity & private credit side – two very different investment profiles, yet two symbiotic cohorts here. Tokenized money markets and treasuries have now surpassed $650 million in collective AUM, essentially acting as a low-risk yield-generating vehicle to park capital in a digital system. That’s all. As new opportunities open up, such as in the alternatives space, it’ll be more seamless to swap from on-chain money markets to on-chain private equity, for…

ECB Announces 10th Consecutive Interest Rate Hike amid Inflation Battle

High energy prices can have a cascading effect on other sectors of the economy, contributing to the overall rise in consumer prices. The European Central Bank (ECB) has announced its 10th consecutive hike in its main interest rate. This decision has catapulted the Central Bank’s main deposit facility rate from -0.5% in June 2022 to a historic 4%. The ECB’s Commitment to Tackling Inflation While this decision may seem drastic, it reflects the ECB’s unwavering commitment to controlling rising inflation in the Eurozone. The decision to raise interest rates once…

US Crude Oil Prices Cross $90 per Barrel for First Time in 10 Months

Prices of oil in the US hit a 10-month high as oil shortages are expected until the end of the year following Russia and Saudi output cuts. In response to fears of weaker supply, the prices of oil rose on Thursday. The West Texas Intermediate (WTI) crude climbed 1.6% to $90.04 per barrel, its highest point since November last year. Brent crude also sold at a 10-month record of $93.23 after rising 1.5%. The impact of the increase in crude prices may be stiff on the economy as gasoline prices…

European lawmakers approve crypto tax regulatory initiative

European lawmakers overwhelmingly approved the DAC8 directive, empowering tax authorities to oversee and regulate cryptocurrency transactions within the EU. On Sept. 13, the proposal got 535 member votes in favor, only 57 against, and 60 abstentions. The DAC8 will enable tax authorities to monitor and regulate all cryptocurrency transactions conducted by individuals and companies within the European Union. The EU members will have until Dec. 31, 2025, to implement the new regulatory framework. The initiative will go into effect on Jan. 1, 2026. DAC8 will use the reporting standards under…

Analyst’s Red Flags And Failed Bullish Patterns

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Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract platform’s future.  In a recent report, Nicholas Merten predicts that Ethereum has less than a year to break free from an ascending triangle pattern, a technical indicator that holds significant implications for the cryptocurrency’s trajectory. The Enigma Of The Ascending Triangle Pattern In a nutshell, an ascending triangle pattern is a chart formation that typically indicates an impending breakout. It forms when the price of an…

Forex vs. cryptocurrency trading, explained

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Forex trading, commonly referred to as foreign currency trading, entails buying and selling other currencies to increase one’s financial gain.  Forex trading involves trading fiat currency pairings and is open 24 hours a day during weekdays — i.e., closed on weekends — with trading sessions in major financial hubs, such as London, New York, Tokyo and Sydney. The first currency in the pair is known as the “base currency,” and the second currency is referred to as the “quote currency” or the “counter currency.” For instance, the United States dollar…

Goldman Sachs Says Rally in AI Tech Stocks Is No Bubble

According to Goldman Sachs, the spike in AI stocks is here to stay, and reflects the beginning of a new tech wave, not a bubble. Global investment banking and financial services firm Goldman Sachs (NYSE: GS) has stated that the current explosion in artificial intelligence (AI) adoption is not a bubble. Despite worries that the spike in AI interest and related tech stocks might be weak, Goldman Sachs states that the popularity of these stocks is more of a revolution than a bubble. Some analysts believe the pump in tech stocks from…

Here Are Important Excerpts About Dogecoin

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The much-anticipated biography of the world’s richest man, Elon Musk, recently dropped. As expected, it contains some interesting tales of Musk’s involvement with the meme coin Dogecoin and how he has contributed to its growth. Musk’s Love For Dogecoin Runs Deep Musk’s biography, authored by Walter Isaacson, contains certain important parts that highlight how much the world’s richest man is invested in the token. In one part, Isaacson writes that Musk’s brother discussed the possibility of creating a blockchain-based social media platform that would include a payment system using Dogecoin. …