Month: September 2023

EUR/USD Pair Loses Momentum as Stronger Dollar and Economic Data Weigh In

The US Census Bureau reported that Durable Goods Orders in August improved by 0.2% month-on-month (m/m) following a 5.6% decline in the previous reading. The EUR/USD currency pair, one of the important barometers of global economic sentiment, found itself under pressure during the early Asian session earlier today, struggling around the 1.0500 mark. EUR/USD Pair A recent report from Fxstreets highlighted that one of the major drivers behind the weakening of the EUR/USD pair is the relentless strength of the US Dollar. The US Dollar Index (DXY), which measures the…

Crypto.com Teams Up with PayPal and Paxos to Boost PYUSD Position

Despite entering the list of approved digital assets, PayPal’s PYUSD stablecoin may not experience the instantaneous adoption initially anticipated following the launch.  Crypto.com, a Singapore-based digital assets trading platform, has formed a strategic alliance with PayPal and Paxos to strengthen its global standing as the preferred exchange for the PayPal stablecoin PYUSD. The move builds on the existing business relationship between PayPal and Crypto.com, enabling users to fund their Crypto.com Visa Cards through PayPal. The two companies plan to further explore and introduce enhanced capabilities for topping up and facilitating…

Bonds Out, Bitcoin In? Bloomberg Analyst Predicts Major Shift

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In a comprehensive evaluation of global market dynamics, Bloomberg Intelligence analyst and Chartered Market Technician (CMT) Jamie Coutts has opined on the shifting sands of financial asset volatility. With bonds potentially falling out of favor and Bitcoin cementing its place as a debasement hedge, traditional portfolio models may be on the verge of a renaissance. Major Portfolio Shift Towards Bitcoin? Coutts tweeted, “It looks like we are about to see a substantial uptick in volatility across all markets, given where yields, USD, & global M2 are heading. Despite what lies…

IOTA to Debut ShimmerEVM’s Smart Contracts and Tokens

These contracts will be released on ShimmerEVM, an Ethereum-compliant blockchain. ShimmerEVM is part of Shimmer, an IOTA ecosystem blockchain that allows developers to build applications and use features that are not yet available on the IOTA mainnet, before moving their applications onto the main IOTA network. Source

Buenos Aires Releases Blockchain Digital Identity Solution Powered by Matter Labs’ ZK Proofs

“With this development, Buenos Aires becomes the first city in Latin America, and one of the first in the world, to integrate and promote this new technology and set the standard for how other countries in the region should use blockchain technology for the benefit of their people,” Diego Fernandez, secretary of innovation for the Buenos Aires City Government, said in the release. Source link

Celsius Network Valuation Consultant Approves Value of Debtors’ Assets and Liabilities

Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens. A mathematician working for Celsius Network’s valuation advisor Stout Risius Ross LLC has confirmed that the fair value of some debtors’ assets and liabilities as of May 31, 2023, is correct. Joel E. Cohen, in a declaration at the New York bankruptcy court, detailed the methods used to analyze the valuation and arrive at the conclusion. Cohen noted in the declaration: “Based on my work performed and…

Enflame Technology Secures $273.7M in Funding Supported by Tencent and Shanghai Investors

Enflame, a company that was founded in March 2018, has already made significant strides in AI chip manufacturing. The company’s cloud chips have found applications in diverse sectors, including education, smart cities, and scientific research. Enflame Technology, a Chinese tech company specializing in artificial intelligence (AI) chip development, has announced the successful completion of its Series D funding round, raising an impressive 2 billion yuan (approximately $273.7 million). This significant investment was led by a subsidiary of Shanghai International Group, with participation from technology giant Tencent, known for its popular…