CPI Report Reaction: Market Bets on Fed Rate Cut Fall As US Inflation Climbs
CoinGape (RSS)
Market speculations on how the Fed rate cuts will be rolled out this year have been dwindling since the release of today’s CPI data. A hotter-than-expected inflation print has kept market sentiments under pressure, raising concerns about the interest rates will stay higher for longer.
US CPI Comes Hotter Than Expected
As CoinGape previously reported, the U.S. Bureau of Labor Statistics released the much-needed Consumer Price Index (CPI) inflation figures for February, revealing higher-than-expected US inflation of 3.2%. Annual core CPI inflation, on the other hand, decreased even further to 3.8% from 3.9% last month—a greater percentage than anticipated at 3.7%. The monthly rate of 0.4% is in line with January’s rate of 0.4%, exceeding market expectations. The US is still experiencing a slow deflation process, despite...
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CoinGape (RSS)
Market speculations on how the Fed rate cuts will be rolled out this year have been dwindling since the release of today’s CPI data. A hotter-than-expected inflation print has kept market sentiments under pressure, raising concerns about the interest rates will stay higher for longer.
US CPI Comes Hotter Than Expected
As CoinGape previously reported, the U.S. Bureau of Labor Statistics released the much-needed Consumer Price Index (CPI) inflation figures for February, revealing higher-than-expected US inflation of 3.2%. Annual core CPI inflation, on the other hand, decreased even further to 3.8% from 3.9% last month—a greater percentage than anticipated at 3.7%. The monthly rate of 0.4% is in line with January’s rate of 0.4%, exceeding market expectations. The US is still experiencing a slow deflation process, despite...
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VanEck Bold Fee Cut Wins $119M Inflow into Bitcoin ETF
CoinGape (RSS)
VanEck Bitcoin Trust (HODL), the VanEck Bitcoin ETF, recorded an unmatched daily inflow on Monday. This rally occurred immediately after the asset manager had declared a brave decision to waive management fees for 0% for an entire year. The reduction from the earlier rate of 0.2% is expected to remain effective until March 31, 2025, or until the BTC ETF reaches $1.5 billion in assets under management. The project was aimed at strengthening the fund’s attractiveness relative to the growing number of Bitcoin ETFs that were newly launched.
The VanEck Bitcoin Trust gathered another $119 million on the day of this announcement, adding more than 1,600 bitcoins to its assets. This inflow was the biggest that the ETF had experienced since its...
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CoinGape (RSS)
VanEck Bitcoin Trust (HODL), the VanEck Bitcoin ETF, recorded an unmatched daily inflow on Monday. This rally occurred immediately after the asset manager had declared a brave decision to waive management fees for 0% for an entire year. The reduction from the earlier rate of 0.2% is expected to remain effective until March 31, 2025, or until the BTC ETF reaches $1.5 billion in assets under management. The project was aimed at strengthening the fund’s attractiveness relative to the growing number of Bitcoin ETFs that were newly launched.
The VanEck Bitcoin Trust gathered another $119 million on the day of this announcement, adding more than 1,600 bitcoins to its assets. This inflow was the biggest that the ETF had experienced since its...
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Web Inventor Envisions AI and VR as Internet’s Next Phase
CoinGape (RSS)
In an interview celebrating the 35th anniversary of the World Wide Web, Tim Berners-Lee, the man credited with creating the Internet architecture that transformed digital communication, discussed the future of the Web. His estimates focus on the possible change of the internet influenced by the developments in artificial intelligence (AI), virtual reality (VR), and the idea of spatial computing, indicating that digital communications will become more interactive and customized.
Transformative Role of AI and VR
His first central forecast is connected with AI integration in routine internet use, imagining it as a future where AI assistants will be esteemed instruments ...
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CoinGape (RSS)
In an interview celebrating the 35th anniversary of the World Wide Web, Tim Berners-Lee, the man credited with creating the Internet architecture that transformed digital communication, discussed the future of the Web. His estimates focus on the possible change of the internet influenced by the developments in artificial intelligence (AI), virtual reality (VR), and the idea of spatial computing, indicating that digital communications will become more interactive and customized.
Transformative Role of AI and VR
His first central forecast is connected with AI integration in routine internet use, imagining it as a future where AI assistants will be esteemed instruments ...
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Hong Kong’s Monetary Authority launches its stablecoin sandbox
Cryptopolitan (RSS)
The regulatory sandbox introduced by the Hong Kong Monetary Authority (HKMA) is a significant development in the realm of stablecoin regulation. By providing a controlled environment for testing and development, the sandbox aims to foster innovation while ensuring regulatory compliance and consumer protection.
Hong Kong floats stablecoin sandbox
Stablecoins, which are cryptocurrencies pegged to the value of fiat currencies like the U.S. dollar or the Hong Kong dollar, have gained traction in recent years due to their potential for facilitating faster and cheaper cross-border transactions. However, they also pose regulatory challenges related to issues such as money laundering, terrorist financing, and consumer protection.
The HKMA’s decision to establish a regulatory sandbox reflects its proactive approach to a...
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Cryptopolitan (RSS)
The regulatory sandbox introduced by the Hong Kong Monetary Authority (HKMA) is a significant development in the realm of stablecoin regulation. By providing a controlled environment for testing and development, the sandbox aims to foster innovation while ensuring regulatory compliance and consumer protection.
Hong Kong floats stablecoin sandbox
Stablecoins, which are cryptocurrencies pegged to the value of fiat currencies like the U.S. dollar or the Hong Kong dollar, have gained traction in recent years due to their potential for facilitating faster and cheaper cross-border transactions. However, they also pose regulatory challenges related to issues such as money laundering, terrorist financing, and consumer protection.
The HKMA’s decision to establish a regulatory sandbox reflects its proactive approach to a...
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Yuga Labs’ Ethereum-based NFTs experience a drop in value
Cryptopolitan (RSS)
Yuga Labs, a prominent player in the NFT space, has recently faced challenges as several of its NFT collections, including Mutant Ape Yacht Club (MAYC) and Otherdeed NFTs, have experienced significant declines in ETH valuations. These declines come at a time when other NFT projects, such as CryptoPunks, have seen substantial growth in value.
Yuga Labs NFTs experience a drop in valuations
MAYC, released in August 2021, has seen its floor price drop to 2.4 ETH, down from the initial minting cost of 3 ETH. Similarly, Otherdeed NFTs, which represent virtual land in Yuga Labs’ ape-themed metaverse game, Otherside, have fallen to a floor price of 0.23 ETH, from the initial minting cost of 305 ApeCoin, equivalent to $5,800 at the time of launch.
The situation is mirrored in Yuga Labs’ flagship collection, Bored Ape Yacht Club (BAYC), where the f...
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Cryptopolitan (RSS)
Yuga Labs, a prominent player in the NFT space, has recently faced challenges as several of its NFT collections, including Mutant Ape Yacht Club (MAYC) and Otherdeed NFTs, have experienced significant declines in ETH valuations. These declines come at a time when other NFT projects, such as CryptoPunks, have seen substantial growth in value.
Yuga Labs NFTs experience a drop in valuations
MAYC, released in August 2021, has seen its floor price drop to 2.4 ETH, down from the initial minting cost of 3 ETH. Similarly, Otherdeed NFTs, which represent virtual land in Yuga Labs’ ape-themed metaverse game, Otherside, have fallen to a floor price of 0.23 ETH, from the initial minting cost of 305 ApeCoin, equivalent to $5,800 at the time of launch.
The situation is mirrored in Yuga Labs’ flagship collection, Bored Ape Yacht Club (BAYC), where the f...
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Central Bank of Nigeria’s inability to defend the naira raises concerns
Cryptopolitan (RSS)
The Economic Intelligence Unit (EIU) recently released an analysis of Nigeria’s economic situation, particularly focusing on the challenges faced by the Central Bank of Nigeria (CBN) in stabilizing the local currency, the naira. According to the EIU, the CBN is unable to effectively control the depreciation of the naira, which has been experiencing rapid decline.
Central Bank of Nigeria faces criticism over the naira
This volatility in the exchange rate is expected to lead to unpredictable regulatory measures, posing significant challenges for businesses that rely on foreign exchange. One of the key factors contributing to the instability of the naira is the limited capacity of the CBN to intervene in the foreign exchange market.
Despite having an e...
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Cryptopolitan (RSS)
The Economic Intelligence Unit (EIU) recently released an analysis of Nigeria’s economic situation, particularly focusing on the challenges faced by the Central Bank of Nigeria (CBN) in stabilizing the local currency, the naira. According to the EIU, the CBN is unable to effectively control the depreciation of the naira, which has been experiencing rapid decline.
Central Bank of Nigeria faces criticism over the naira
This volatility in the exchange rate is expected to lead to unpredictable regulatory measures, posing significant challenges for businesses that rely on foreign exchange. One of the key factors contributing to the instability of the naira is the limited capacity of the CBN to intervene in the foreign exchange market.
Despite having an e...
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Worldcoin Price Prediction 2024 – 2033: How High Will WLD Go?
Cryptopolitan (RSS)
Worldcoin Price Prediction 2024-2033
— Worldcoin Price Prediction 2024- up to $15.60
— Worldcoin Price Prediction 2027-up to $32.34
— Worldcoin Price Prediction 2030– up to $52.81
— Worldcoin Price Prediction 2033– up to $137.50
Worldcoin, spearheaded by OpenAI chief Sam Altman, launched on Monday, 24 July 2023, after years in development, promising to verify users’ identity by iris-scanning and potentially solving one of the more pressing problems posed by recent advances in artificial intelligence. When it surged in price as an opening salvo, there was a f...
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Cryptopolitan (RSS)
Worldcoin Price Prediction 2024-2033
— Worldcoin Price Prediction 2024- up to $15.60
— Worldcoin Price Prediction 2027-up to $32.34
— Worldcoin Price Prediction 2030– up to $52.81
— Worldcoin Price Prediction 2033– up to $137.50
Worldcoin, spearheaded by OpenAI chief Sam Altman, launched on Monday, 24 July 2023, after years in development, promising to verify users’ identity by iris-scanning and potentially solving one of the more pressing problems posed by recent advances in artificial intelligence. When it surged in price as an opening salvo, there was a f...
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COPA challenges Craig Wright’s claim to Bitcoin invention in landmark trial
Cryptopolitan (RSS)
The legal showdown between the Crypto Open Patent Alliance (COPA) and Craig Wright, the Australian computer scientist who claims to be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, is drawing to a close in London. Wright faces allegations of perjury and forgery in his efforts to substantiate his claim, which has been a point of contention within the cryptocurrency community.
Trial developments and accusations
COPA, representing major cryptocurrency firms including Coinbase, Block, and Kraken, has accused Wright of presenting forged documents and making false statements during the trial. Closing arguments, which began on March 12, highlighted the alliance’s stance that Wright is not the inventor of Bitcoin, based on evidence presented over the course of the proceedings. Jonathan Hough, counsel for COPA, describ...
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Cryptopolitan (RSS)
The legal showdown between the Crypto Open Patent Alliance (COPA) and Craig Wright, the Australian computer scientist who claims to be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, is drawing to a close in London. Wright faces allegations of perjury and forgery in his efforts to substantiate his claim, which has been a point of contention within the cryptocurrency community.
Trial developments and accusations
COPA, representing major cryptocurrency firms including Coinbase, Block, and Kraken, has accused Wright of presenting forged documents and making false statements during the trial. Closing arguments, which began on March 12, highlighted the alliance’s stance that Wright is not the inventor of Bitcoin, based on evidence presented over the course of the proceedings. Jonathan Hough, counsel for COPA, describ...
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Breaking: Coinbase Unveils Plans To Offer $1B In Convertible Senior Notes
CoinGape (RSS)
American cryptocurrency exchange Coinbase Global Inc. is planning to explore convertible senior notes as the new means of raising funds.
The Coinbase Convertible Senior Notes
Coinbase hinted at its plan to offer up to $1 billion in convertible senior notes which would be due in 2030.
Per Coinbase’s plan, the notes will be put up for sale to institutional investors through a private offering. Upon its launch, the exchange is hoping to grant a 30-day option that would allow those who make purchases of up to an additional $150 million of the securities to cover over-allotments.
The notes can be converted into a number of forms including cash, shares of Coinbase’s Class A common stock, or a combination, but at the company’s election. In the long run, Coinbase expects to use the proceeds to either r...
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CoinGape (RSS)
American cryptocurrency exchange Coinbase Global Inc. is planning to explore convertible senior notes as the new means of raising funds.
The Coinbase Convertible Senior Notes
Coinbase hinted at its plan to offer up to $1 billion in convertible senior notes which would be due in 2030.
Per Coinbase’s plan, the notes will be put up for sale to institutional investors through a private offering. Upon its launch, the exchange is hoping to grant a 30-day option that would allow those who make purchases of up to an additional $150 million of the securities to cover over-allotments.
The notes can be converted into a number of forms including cash, shares of Coinbase’s Class A common stock, or a combination, but at the company’s election. In the long run, Coinbase expects to use the proceeds to either r...
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Tether Helps FBI Seize $1.4M USDT in Fraud Crackdown
CoinGape (RSS)
The United States Attorney’s Office in Chicago, Illinois, disclosed the seizure of approximately $1.4 million in Tether (USDT). The funds were allegedly linked to a fraudulent scheme involving customer support scams. The operation was a joint effort between the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and Tether. The cryptocurrency company played a pivotal role in assisting government agencies to clamp down on financial fraud within the digital currency ecosystem.
Tether released a statement expressing pride in its collaboration with the U.S. government. The company emphasized its dedication to combating financial fraud and maintaining integrity in the cryptocurrency industry. This seizure o...
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CoinGape (RSS)
The United States Attorney’s Office in Chicago, Illinois, disclosed the seizure of approximately $1.4 million in Tether (USDT). The funds were allegedly linked to a fraudulent scheme involving customer support scams. The operation was a joint effort between the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and Tether. The cryptocurrency company played a pivotal role in assisting government agencies to clamp down on financial fraud within the digital currency ecosystem.
Tether released a statement expressing pride in its collaboration with the U.S. government. The company emphasized its dedication to combating financial fraud and maintaining integrity in the cryptocurrency industry. This seizure o...
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Solana Tensor Foundation Plans Release of TNSR Governance Token
CoinGape (RSS)
The Solana-based NFT marketplace, Tensor, managed by the Tensor Foundation, is gearing up to launch a governance token named TNSR. The announcement was made public by the foundation of this through a post on a social media platform with generated curiosity among the communities of cryptocurrency and NFT. The shift is in line with the trend of decentralized governance in the digital asset space, where users and stakeholders have more power and influence over the direction of the platform.
Growth in Trading Volume
The announcement from Tensor is a result of remarkable trading activity on its platform. The foundation has stated that Tensor has made around $2.2 billion worth of Solana NFT transactions, a big jump from the $7 million reported the year before.
This spike in trading volume highlight...
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CoinGape (RSS)
The Solana-based NFT marketplace, Tensor, managed by the Tensor Foundation, is gearing up to launch a governance token named TNSR. The announcement was made public by the foundation of this through a post on a social media platform with generated curiosity among the communities of cryptocurrency and NFT. The shift is in line with the trend of decentralized governance in the digital asset space, where users and stakeholders have more power and influence over the direction of the platform.
Growth in Trading Volume
The announcement from Tensor is a result of remarkable trading activity on its platform. The foundation has stated that Tensor has made around $2.2 billion worth of Solana NFT transactions, a big jump from the $7 million reported the year before.
This spike in trading volume highlight...
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Coinbase Plans $1B Bond Sale That Avoids Hurting Stock Investors, Copying Michael Saylor's Successful Bitcoin Playbook
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
The convertible notes Coinbase wants to sell include provisions aimed at aiding its stock investors.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
The convertible notes Coinbase wants to sell include provisions aimed at aiding its stock investors.