A United Nations trade body has recommended a set of policy actions to “curb the expansion of cryptocurrencies in developing countries.” The intergovernmental group stressed that if cryptocurrencies become a widespread means of payment, it could jeopardize the monetary sovereignty of countries. UN Trade Body’s Crypto Policy Recommendations The United Nations Conference on Trade and Development (UNCTAD) urged authorities in…
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According to a fresh prediction from crypto analysis firm Arcane Research, miners will continue to sell more BTC than they earn. Miners sold nearly 30% of record BTC stash since May The trip to $25,000 this month decreased pressure on a Bitcoin mining sector which has struggled throughout 2022. At one point, fears abounded that miners’ production cost was far…
More than a week ago, the troubled crypto lender Hodlnaut froze user assets on the platform. Now, the Singapore-based firm has applied for judicial management. Hodlnaut is a crypto lender that let users deposit cryptocurrencies like Bitcoin and Ethereum and earn interest. It is one of many crypto lenders to be struck down during the latest downturn in crypto market. …
Embattled crypto lender Celsius Network is on track to run out of money by October, according to the firm’s latest Chapter 11 documents. Filed on Aug. 14 to the U.S. Bankruptcy Court of the Southern District of New York, Celsius highlighted that it is expected to reach negative liquidity by October 2022 to approximately $34 million. The lending platform, which…
Darius Dale is the Founder and CEO of 42 Macro, an investment research firm that aims to disrupt the financial services industry by democratizing institutional-grade macro risk management processes. Key Takeaways The distribution of probable economic outcomes — and by extension, financial market outcomes — is as flat and wide as it has been in recent years. 42 Macro’s base-case…
Ghana’s ongoing economic woes appeared to worsen in July after data from the country’s statistical agency, Ghana Statistical Service, suggested that the inflation rate is now nearly 31.7%. The nearly 2% increase in the country’s inflation rate comes at a time when the local currency is reported to have depreciated by as much as 30% since the start of the…
As the Terra (LUNA) co-founder and CEO Do Kwon breaks his silence about the collapse of the algorithmic stablecoin Terra USD (UST) and LUNA, the community responded with various sentiments against the Terra executive. Despite Kwon’s attempts to clear his name in an interview, community members remain unhappy with the Terra CEO. In a tweet, podcaster Eric Conner compared Do…
Decrypt on the Street: An NFT Trip to Tiffany’s, a Search for Status In this episode of Decrypt on the Street, reporter Sander Lutz jumps through hoops in the hopes of obtaining an exclusive “NFTiff” from Tiffany & Co. Sander learns manners and spiritual awareness from two coaches, only to fall short of the digital brass ring. Source: https://decrypt.co/videos/interviews/tZvhuEpY/decrypt-on-the-street-an-nft-trip-to-tiffanys-a-search-for-status
On Monday, one of Brazil’s largest brokerages XP launched its crypto trading branch XTAGE via a new partnership with Nasdaq. The launch of XTAGE opens up new investment avenues to over 3.5 million customers, allowing customers to buy, sell, hold, and trade Bitcoin and Ethereum, according to the official announcement from Nasdaq. XP employees piloted the crypto platform in May…
