Costs for consumers held flat according to the Consumer Price Index report (CPI) released by the U.S. Bureau of Labor and Statistics on Wednesday. Analysts predicted previously that the index, which tracks price movements across a broad range of goods and services, would rise 0.2% to show inflation is 8.7% on a year-over-year basis. Instead, inflation remained unchanged last month,…
Avalanche rallied on Wednesday, as the token broke out of a key resistance level on its way towards a multi-month high. Crypto markets mostly rallied as the session progressed, following the release of the latest U.S. inflation numbers. Ethereum classic was one such token, as it moved closer to $40. Avalanche (AVAX) Avalanche (AVAX) was a big mover on Wednesday,…
The grassroots Mi Primer Bitcoin or “My First Bitcoin” program has picked up steam in El Salvador. The first cohort of Bitcoiner-come-students began studies in May this year. Founded by John Dennehy, an American activist and journalist, the program also has the support of the El Salvador government. El Salvador’s first #Bitcoin diploma program launched with the support of its Ministry…
Nuri, a crypto-focused digital banking platform, announced it has filed for insolvency in a Berlin court on Tuesday, saying the move was “necessary to ensure the safest path forward for all our customers.” Despite the insolvency proceedings, Nuri said that customers would still have “guaranteed access” to their euro accounts and crypto wallets. “All funds in your Nuri accounts are…
OpenNode partnered with Launch Cart to enable eCommerce businesses to accept bitcoin as payment.Launch Cart is a SaaS provider dedicated to lowering barriers of entry into eCommerce. Launch Cart will also be launching a wholesale dropshipping platform for its users. OpenNode, a Bitcoin infrastructure provider, has partnered with eCommerce platform Launch Cart to enable any eCommerce business leveraging Launch Cart’s…
Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus…
Cryptocurrency exchange Nuri has filed for insolvency, reportedly becoming Germany’s first fintech to take the step in a challenging year for startups in the industry. Customer access to the platform’s services and their funds will not be affected, the company assured. Crypto Exchange Cites ‘Lasting Strain on Liquidity’ as Reason for Insolvency Filing Berlin-based crypto exchange Nuri, formerly Bitwala, has…
The collapse of Celsius continues to ripple throughout the world of finance. Canada’s second-biggest pension and insurance fund the Caisse de Dépôt invested $150 million into Celsius nine months before its Chapter 11 bankruptcy. Now, the fund may be left empty-handed. The Caisse de Dépôt—which registered net assets of $419.8 billion at the end of 2021—was one of two lead…
FTX CEO Sam Bankman-Fried happily acknowledges that the deals his companies have made to bail out troubled crypto lenders amid the crash don’t necessarily look so great. The goal in each case, he says, is not an “amazing deal” but merely an “okay deal,” and to limit how much he’s “throwing good money after bad,” he said on the latest…
Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department. The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers. Immediate reactions were followed by U.S.-based crypto companies, including…
