Binance CEO: Recent Market Declines Are Not a Long-Term Negative Trend

August 8, 2024 Bitcoin.com

Binance

Binance CEO Richard Teng has addressed the recent declines in cryptocurrency and equity prices, attributing them to macroeconomic factors and advising against viewing them as long-term negative trends. He highlighted potential Federal Reserve rate cuts and geopolitical volatility as key influences, urging individuals to stay informed and proactive. Richard Teng Discusses Market Declines, Advises Caution […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Tornado Cash sanctions effective, reveal Ethereum weakness: NY Fed

August 7, 2024 Coin Telegraph

blockchain censorship

Cooperation with the US Treasury sanctions on Tornado Cash was strongest at the user level and weaker further along the settlement chain.

The Federal Reserve Bank of New York has released a report on the effect of sanctions on Tornado Cash, the crypto mixer that was blocklisted by the United States Treasury Department in 2022. Sanctions work, by and large, even in decentralized finance, the report concluded.

The report’s findings also apply to Ethereum. The Ethereum network’s resistance to censorship and cooperation shows “fragility,” the report says.

The Treasury’s Office of Foreign Assets Control (OFAC) sanctioned addresses associated with the so-called crypto mixer Tornado Cash on Aug. 8, 2022. The move was a response to large-scale money laundering operations it had enabled by obscuring the movement of crypto funds onchain. It was the first time a computer protocol had been sanctioned.

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Peter Schiff Warns Against Owning Bitcoin ETFs, Cites ‘Not Your Keys, Not Your Coins’

August 6, 2024 Bitcoin.com

Bitcoin

Economist and gold advocate Peter Schiff argues that bitcoin exchange-traded funds (ETFs) contradict the core principles of the cryptocurrency by undermining decentralization and peer-to-peer transactions. He criticizes recent buyers of bitcoin for focusing solely on profit, suggesting this behavior indicates an impending collapse. Schiff also slammed Senator Cynthia Lummis’ bill proposing a U.S. bitcoin reserve, […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Wharton Professor Calls for Emergency Rate Cut Following Market Downturn

August 6, 2024 Bitcoin.com

bitcoin.com

Jeremy Siegel, a finance professor and chief economist, has called for an emergency 75 basis point cut in the fed funds rate following a market downturn. He emphasized the necessity of this cut and suggested another rate cut next month to align with the Federal Reserve’s targets on inflation and employment. Siegel warned that failing […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Fedwatch Tool and Polymarket Point to Highly Probable Rate Cuts by the Fed

August 6, 2024 Bitcoin.com

bitcoin.com

Following the recent volatility in global equity markets, some analysts suggest that the U.S. Federal Reserve might implement an emergency rate cut before September. In addition, market predictions are leaning toward a rate cut at the September Federal Open Market Committee (FOMC) meeting. The key question is the extent of this cut. According to CME’s […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Goldman Sachs Raises US Recession Risk to 25%

August 6, 2024 Bitcoin.com

bitcoin.com

Global investment bank Goldman Sachs has increased the likelihood of a U.S. recession within the next year to 25% from the previous 15%, although they maintain that the risk remains limited. Despite the recent rise in unemployment to its highest in nearly three years and a significant slowdown in hiring, Goldman economists, led by Jan […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Following the Crypto Downturn, Market Observers Predict a 2020-Style Comeback

August 6, 2024 Bitcoin.com

2020-style comeback

Over the past 24 hours, as market values have declined significantly, many observers have begun discussing the current crypto market cycle and the potential for digital currency prices to recover. Data indicates that hundreds of billions of dollars have exited the crypto economy, but some believe a rebound similar to 2020 could still occur. Onlookers […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Macroeconomics Expert Predicts Hard Landing for US Economy

August 4, 2024 Bitcoin.com

banking sector

Despite recent positive economic indicators, investor and macroeconomics expert George Gammon foresees a hard landing for the U.S. economy. In an interview with Michelle Makori of Kitco News, Gammon pointed to several warning signs in the banking sector and the broader financial landscape. Banks See Economic Storm Clouds Ahead: George Gammon’s Warning Gammon explains that […]

US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

JPMorgan Chase Abruptly Raises Forecast for Imminent Fed Rate Cuts As Recession Fears Accelerate: Report

August 3, 2024 The Daily Hodl

Chase

JPMorgan Chase is reportedly changing its forecast for incoming rate cuts from the Federal Reserve as fears that the US is heading toward a recession grip global markets. A series of weaker-than-expected reports on the US economy, including a bleak jobs report, triggered a stock market retreat on Friday. Amid growing fears that the US […]

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US Government Seeks Forfeiture of 200,000 USDT Tied to Bitcoin Theft in Ohio

Gold Breaks $2,500 per Ounce, Reaching Historic Highs Powered by Fed’s Decision and Geopolitical Risks

August 2, 2024 Bitcoin.com

Gold Breaks ,500 per Ounce, Reaching Historic Highs Powered by Fed’s Decision and Geopolitical Risks

all time highs

Gold prices reached historic highs on August 1, breaking the $2,500 mark on the New York Comex exchange. The precious metal reached a price of $2,502.6 for the first time in its history, influenced by the U.S. Federal Reserve’s decision to leave interest rates unchanged, geopolitical risks, and the constant demand from central banks. Gold […]

Federal Reserve

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