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Blockchain reduces airline cargo costs by 7%, boosts efficiency

Airlines were able to reduce communication errors by 90% thanks to the transparency of blockchain technology.

Airlines can save up to 7% in overall cargo handling operations using blockchain-based supply chain management solutions, which is another testament to the technology’s disruption potential.

Airlines saved 7% in cargo handling operations in a recent study conducted at Heathrow Airport by Aventus, a firm offering enterprise-grade blockchain-as-a-service solutions.

Beyond the 7% cost reduction, airlines also saw improved operational efficiency during the study, according to Alan Vey, the founder of Aventus.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

JPMorgan Sees ‘Buy the Dip’ Opportunity After Market Selloff

JPMorgan Sees ‘Buy the Dip’ Opportunity After Market SelloffMonday marked a severe downturn in financial markets, with sharp selloffs in stocks, cryptocurrencies, and precious metals. However, JPMorgan analysts see a potential “buy the dip” opportunity as the rotation out of tech stocks might be nearing its end. John Schlegel, JPMorgan’s head of positioning intelligence, indicated that their Tactical Positioning Monitor might drop further, […]

Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Nasdaq asks to list options on spot Ethereum ETFs — Filing

Exchanges are still waiting on permission to list options on spot Bitcoin ETFs, too.

Nasdaq’s options exchange asked United States regulators to permit options trading on spot Ethereum exchange-traded funds (ETFs), according to an Aug. 6 regulatory filing.

Nasdaq’s proposed rule change would apply exclusively to Blackrock’s iShares Ethereum Trust (ETHA), which is the only Ether (ETH) ETF listed on Nasdaq’s electronic exchange. The others are listed on the New York Stock Exchange’s (NYSE) Arca or Cboe.

The filing marks an important step towards widespread adoption of ETH ETFs, which listed in July and and proceeded to attract approximately $1.5 billion in net inflows, according to Morningstar.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Nearly every token Binance listed in 2024 is now bleeding red — Coin98

Part of the problem is the airdrop model for token distributions, which has grown in popularity in recent years.

Of the 30 tokens listed by cryptocurrency exchange Binance in 2024, all but one are in the red—and most are down badly, according to a post by crypto researcher Coin98 Analytics on the X social media platform. 

The sole exception is Jupiter’s native token, JUP, which has risen 21.2% since listing on Jan. 31 and now has a fully diluted value (FDV) of some $8 billion. FDV is a measure of market capitalization assuming a token’s entire supply is circulating at current trading prices.

Launched in January, Jupiter is a Solana-based decentralized exchange that has attracted upward of $610 million in total value locked (TVL), according to DefiLlama. Its Jan. 31 airdrop was the largest in Solana’s history, with some $700 million worth of JUP tokens distributed to around 1 million wallets.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

‘The Black Swan’ author says Bitcoin a poor hedge against market meltdown

Nassim Nicholas Taleb says gold still stands apart as a store of value.

Nassim Taleb, author of The Black Swan and adviser for Universa Investments, said during CNBC’s Squawk Box on Aug. 6 that the cryptocurrency market’s abrupt downturn on Aug. 5 shows Bitcoin (BTC) is a poor hedge against a systemic meltdown.

“Bitcoin is proving once again that it’s not a hedge against your assets melting,” according to Taleb, whose book The Black Swan explores the science of randomness and extreme outliers.

On Aug. 5, the entire crypto market saw a $510-billion drop in total market capitalization amid a marketwide downturn. Following the sell-off, over 60% of the top 50 cryptocurrencies lost all the gains made during 2024, according to CryptoQuant.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation

French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA RegulationThe French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This regulation mandates prior authorization for market participants offering crypto asset services in the EU, with strict adherence to anti-money laundering, cybersecurity, and […]

Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Europe’s fourth largest hedge fund put nearly $500M in Bitcoin ETFs — Filing

Other hedge funds are also reporting sizable positions in Bitcoin exchange-traded funds.

According to public disclosures filed on Aug. 5, Capula Management, Europe’s fourth-largest hedge fund, invested nearly $500 million in Bitcoin (BTC) exchange-traded funds. 

The hedge fund, which is based in the United Kingdom and manages upward of $30 billion in investor assets, holds shares in Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT).

According to the filing, Capula owns shares worth more than $464 million in total, reflecting its portfolio as of June 30. The filings do not indicate that Capula owns any other crypto assets.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Bitcoin ETF trading volume tops $1B amid crypto crash — Galaxy

Galaxy’s head of research expects the funds to see inflows as investors buy the dip.

Trading volumes for Bitcoin (BTC) exchange-traded funds (ETFs) surged past $1 billion at the start of trading on Aug. 5, as crashing markets triggered “extremely elevated” trading activity across crypto, Alex Thorn, head of research at asset manager Galaxy Digital, said in a post on the X platform. 

After only 20 minutes of trading, Bitcoin ETFs have clocked more than $1.3 billion in trading volume, with iShares Bitcoin Trust seeing the highest churn at upward of $875 million, according to the post.

Thorn expects BTC ETFs to see net inflows from “dip buying” as investors clamor to take advantage of a roughly 8% drawdown in spot BTC prices since Aug. 4. The downturn was led by Ether (ETH), which dropped upwards of 21% after funds including Jump Trading and Paradigm VC sold hundreds of millions of dollars worth of Ether, according to an Aug. 5 report by QCP Group.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Crypto market crash triggered by ‘aggressive’ selling by Jump Trading: Report

Jump Trading significantly contributed to the crypto market sell-off, and it could be looking to sell another $104 million worth of crypto.

The current crypto market crash is being directly linked to selling by Jump Trading, according to QCP Group, one of Singapore’s first digital asset trading groups.

The price of Ether (ETH) fell over 21% in the 24 hours leading up to 11:20 am UTC to trade at $2,252, according to Cointelegraph data.

The crash to an over five-month low was mainly caused by Ether selling from Jump Trading and Paradigm VC, according to an Aug. 5 report by QCP Group, which wrote:

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill

Crypto products shed $528M amid recession fears — CoinShares

As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.

Cryptocurrency assets started seeing significant outflows last week amid growing fears of a recession in the United States and geopolitical concerns, according to a new report by the crypto investment firm CoinShares.

The week of July 28 to Aug. 3 saw digital asset investment products posting outflows for the first time in four weeks totalling $528 million, CoinShares reported in its latest digital asset fund flows report published on Aug. 5.

CoinShares noted that the latest crypto sell-off is believed to be a reaction to fears of a recession in the US, geopolitical uncertainty and consequent broader market liquidations across the majority of assets.

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Texas kicks off 89th legislative session with new strategic Bitcoin reserve bill