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U.S. Inflation Hits 40-Year High of 9.1%
US consumer prices rose more than forecast in June, hitting an annual pace of 9.1 per cent, a fresh 40-year high that cements expectations of another historically large 0.75 percentage point Federal Reserve interest rate rise this month.
Rising energy and gas costs were the biggest contributors to the surge.
Bitcoin and the rest of the cryptocurrency market plummeted in response to the CPI print.
US consumer prices rose more than forecast in June, hitting an annual pace of 9.1 per cent, a fresh 40-year high that cements expectations of another historically large 0.75 percentage point Federal Reserve interest rate rise this month.
Rising energy and gas costs were the biggest contributors to the surge.
Bitcoin and the rest of the cryptocurrency market plummeted in response to the CPI print.
Celsius Networks: cryptocurrency lender files for bankruptcy.
Celsius Mining, the Bitcoin mining subsidiary of the troubled crypto lending firm Celsius Network, has joined its parent company in filing for bankruptcy.
Celsius, which is facing a liquidity crisis, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York, the lender said in a statement issued late Wednesday.
Celsius Mining, the Bitcoin mining subsidiary of the troubled crypto lending firm Celsius Network, has joined its parent company in filing for bankruptcy.
Celsius, which is facing a liquidity crisis, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York, the lender said in a statement issued late Wednesday.
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Coinbase "temporarily shutting down" US affiliate marketing programme.
According to a Business Insider article, cryptocurrency exchange Coinbase will "temporarily shut down" its US affiliate-marketing programme on July 19.
This change comes at a time when Coinbase is reeling from the crypto crash.
On June 14, Coinbase CEO Brian Armstrong announced in a blog post that the company was laying off 18% of its staff, or roughly 1,100 employees. On Friday, Bloomberg reported that Coinbase is now the world's 14th largest crypto exchange, down from the fourth position less than a year ago.
According to a Business Insider article, cryptocurrency exchange Coinbase will "temporarily shut down" its US affiliate-marketing programme on July 19.
This change comes at a time when Coinbase is reeling from the crypto crash.
On June 14, Coinbase CEO Brian Armstrong announced in a blog post that the company was laying off 18% of its staff, or roughly 1,100 employees. On Friday, Bloomberg reported that Coinbase is now the world's 14th largest crypto exchange, down from the fourth position less than a year ago.
Sri Lanka's Central Bank Warns About Crypto Amid Severe Economic, Political Crisis.
Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies.
The Central Bank of Sri Lanka (CBSL) published a notice about cryptocurrency Tuesday titled “Public Awareness in Relation to the Use of Virtual Currencies in Sri Lanka.” The notice cites “recent development in relation to virtual currency usage in the international and domestic markets as well as the inquiries related to virtual currency.”
Noting that “Virtual currencies (VCs) are largely unregulated digital representations of value that are issued by private entities and can be electronically traded,” the Sri Lankan central bank emphasized.
Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies.
The Central Bank of Sri Lanka (CBSL) published a notice about cryptocurrency Tuesday titled “Public Awareness in Relation to the Use of Virtual Currencies in Sri Lanka.” The notice cites “recent development in relation to virtual currency usage in the international and domestic markets as well as the inquiries related to virtual currency.”
Noting that “Virtual currencies (VCs) are largely unregulated digital representations of value that are issued by private entities and can be electronically traded,” the Sri Lankan central bank emphasized.
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Ripple Co-Founder Jed McCaleb Made $3 Billion Through $XRP Sales, Estimates Suggest
Ripple co-founder Jed McCaleb has sold the last of his $XRP on his “tacostand” wallet on the XRP Ledger after originally owning 9 billion tokens in 2013, when the network was created. Estimates suggest McCaleb made $3 billion through the sale of his tokens.
McCaleb is said to have started working on Ripple back in 2011, and was part of its founding team when the firm launched in 2013. While he left it in 2014 to work on Stellar (XLM), he was awarded 9 billion XRP tokens for his role in developing and founding OpenCoin, which was later rebranded to Ripple.
Ripple confirmed McCaleb has sold the last of his XRP tokens in a blog post titled “The Stand is Finally Out of Tacos,” in reference to McCaleb’s “tacostand” wallet name. The post details that months after Ripple was created, McCaleb’s vision did not alogin with that of Ripple, leading to his exit in 2013.
Ripple co-founder Jed McCaleb has sold the last of his $XRP on his “tacostand” wallet on the XRP Ledger after originally owning 9 billion tokens in 2013, when the network was created. Estimates suggest McCaleb made $3 billion through the sale of his tokens.
McCaleb is said to have started working on Ripple back in 2011, and was part of its founding team when the firm launched in 2013. While he left it in 2014 to work on Stellar (XLM), he was awarded 9 billion XRP tokens for his role in developing and founding OpenCoin, which was later rebranded to Ripple.
Ripple confirmed McCaleb has sold the last of his XRP tokens in a blog post titled “The Stand is Finally Out of Tacos,” in reference to McCaleb’s “tacostand” wallet name. The post details that months after Ripple was created, McCaleb’s vision did not alogin with that of Ripple, leading to his exit in 2013.
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Tesla sold 75% of its Bitcoin, worth approximately $936 million, according to its Q2 earnings report.
Tesla has converted approximately 75% of its bitcoin into fiat currency. The cryptocurrency sales left the electric car company holding digital assets worth $218 million. “We are certainly open to increasing our bitcoin holdings in the future,” Tesla CEO Elon Musk said, adding: “We have not sold any of our dogecoin.”
Tesla has converted approximately 75% of its bitcoin into fiat currency. The cryptocurrency sales left the electric car company holding digital assets worth $218 million. “We are certainly open to increasing our bitcoin holdings in the future,” Tesla CEO Elon Musk said, adding: “We have not sold any of our dogecoin.”
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Google Pay To Allow Customers To Buy Crypto On Crypto.com
Users of Google Pay now have another access point to the cryptocurrency markets thanks to Crypto.com’s integration of its payment options.
Crypto.com Adds Google Pay Feature.
Australia and New Zealand users with an Australia-issued Crypto.com Visa Card can now make payments with Google Pay.
A Google Pay in-app purchase option will soon be available on the cryptocurrency wallet and trading platform Crypto.com App, allowing users to buy cryptocurrency quickly and securely. The crypto exchange will introduce this newest feature the next week. According to the most recent update to the platform, Android users will have the choice to pay with Google Pay when buying cryptocurrency.
Users of Google Pay now have another access point to the cryptocurrency markets thanks to Crypto.com’s integration of its payment options.
Crypto.com Adds Google Pay Feature.
Australia and New Zealand users with an Australia-issued Crypto.com Visa Card can now make payments with Google Pay.
A Google Pay in-app purchase option will soon be available on the cryptocurrency wallet and trading platform Crypto.com App, allowing users to buy cryptocurrency quickly and securely. The crypto exchange will introduce this newest feature the next week. According to the most recent update to the platform, Android users will have the choice to pay with Google Pay when buying cryptocurrency.
Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments.
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End.
The principle of digital rupiah will be the same as paper money which is to be the only legal currency for digital transactions in Indonesia.
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End.
The principle of digital rupiah will be the same as paper money which is to be the only legal currency for digital transactions in Indonesia.
North Korea Condemns US Over Washington's Remarks On Crypto Stealing
North Korea is widely believed to have thousands of trained hackers and stealing of cryptocurrencies has become a major source of funding for the sanctions-hit country and its weapons programmes.
North Korea on Saturday condemned remarks by a senior White House official about Pyongyang's cyberattack capabilities and said it would continue to stand against what it called US aggression towards it.
A Foreign Ministry spokesperson said that branding North Korea as a "group of criminals" revealed the true nature of Washington's hostile policy towards North Korea.
Anne Neuberger, the US deputy national security advisor for cyber and emerging technology, reportedly said on Wednesday that the North Koreans were a criminal syndicate pursuing revenue "in the guise of a country".
North Korea is widely believed to have thousands of trained hackers and stealing of cryptocurrencies has become a major source of funding for the sanctions-hit country and its weapons programmes.
North Korea on Saturday condemned remarks by a senior White House official about Pyongyang's cyberattack capabilities and said it would continue to stand against what it called US aggression towards it.
A Foreign Ministry spokesperson said that branding North Korea as a "group of criminals" revealed the true nature of Washington's hostile policy towards North Korea.
Anne Neuberger, the US deputy national security advisor for cyber and emerging technology, reportedly said on Wednesday that the North Koreans were a criminal syndicate pursuing revenue "in the guise of a country".
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