Author: NBTC
JPMorgan Chase just issued a warning on the economic impact of the presidential election. In a new interview with Bloomberg, JPMorgan’s Chief Global Strategist David Kelly targets former President Trump’s interest in increasing tariffs on imports to reduce income taxes. If Trump triumphs over Biden and hikes tariffs significantly, Kelly says the former president will have cooked a recipe for stagflation. “I do think what happened [in the debate] meaningfully increases the likelihood of a Republican sweep in November… Now if they sweep, if you take Donald Trump at his word, you’ve got much higher tariffs, and tariffs are an…
The meme coin ecosystem is blowing up amid a broader recovery in the digital currency ecosystem. The meme coin market has soared by approximately 2.39% in 24 hours to $64,365,653,712. Of the tokens fueling this combined market growth, Floki (FLOKI) is in the lead. The token has jumped by more than 15% overnight and is changing hands for $0.0002776. This FLOKI momentum is far outstripping its key rivals, like Shiba Inu (SHIB), PEPE and Dogwifhat (WIF). While SHIB is up by 1.56% to $0.00002522, PEPE and WIF have rallied by 2.42% and 6.44%, to $0.00001525 and $3.46, respectively. Each of…
Binance, the world’s largest cryptocurrency exchange, continues to lead the market in capital inflows, according to a new report. The exchange attracted a staggering $908 million in Q2 2024, further solidifying its position at the forefront of the industry. Top 10 CEX by Capital Inflow in Q2 2024@binance +$908M@bitfinex +$709M@bitgetglobal +$561M@Bybit_Official +$465M@gate_io +$400M@MaskEXGlobal +$177MKorbit +$39.0M@Phemex_official +$17.2M@Coinsquare +$15.8M@RobinhoodApp +$14.6M pic.twitter.com/UwN4kqOAMu — CryptoRank.io (@CryptoRank_io) July 5, 2024 Trailing behind Binance, Bitfinex garnered $709 million in capital inflows, while Bitget Global secured third place with $561 million. Bybit and Gate.io followed closely with $465 million and $400 million, respectively, rounding out the top…
The July 4th Ethereum All Core Developers (ACD) call was a mellow affair focused on updates around implementation of the next Ethereum upgrade, Pectra. Although several clients are making headway, the launch of Devnet-1 is being delayed until a greater number of clients are prepared. Client teams, expecting to be short staffed as developers attend the EthCC conference in Brussels, are looking to launch Devnet-1 in one to two weeks. A theme on the call was hand wringing over Pectra scope creep. Core developers refined the account abstraction-focused EIP-7702’s, which was a major topic on the last ACD call. A…
The central bank in Russia has called on businesses to explore other cross-border payment systems like cryptocurrencies and digital assets to counter Western sanctions imposed on the country. Using cryptocurrencies and digital assets would help businesses settle payments with international partners. The country is currently under Western sanctions following the conflict with Ukraine which escalated when Russia invaded Ukraine in February 2022. Central bank governor Elvira Nabiullina highlighted the importance of crypto adoption as the country faces payment challenges due to the imposed sanctions. Russia struggles with cross-border payments Russian businesses continue to struggle to settle payments with international partners,…
Cardano’s consensus team made significant progress on the UTXO-HD project. The Hydra and Mithril teams released new features and tools to enhance network capabilities. Cardano has announced several key advancements aimed at boosting the performance of its native cryptocurrency, ADA. The focus spans across core technology, scaling solutions, governance, and educational initiatives, indicating a robust strategy for network growth and stability. UTXO-HD Project Accelerates Consensus Mechanisms The consensus team has made significant progress in the UTXO-HD project, updating it to use simple diffs, which have considerably improved mempool benchmarks. They also released version 0.10.0 of the quick check-state machine library,…
Key Points: Bitstamp will compensate Mt Gox creditors, ensuring a swift resolution to a long-awaited process. Several Mt Gox creditors have already received BTC and BCH in Bitbank and Kraken accounts, signalling progress in the compensation effort. The Bitstamp exchange has announced it will distribute tokens to Mt Gox creditors within the next 60 days, following up on the agreement reached between them and the Mt. Gox trustee. The announcement relieved many who had been expecting compensation since Mt. Gox collapsed in 2014. Bitstamp assured us that these investors would be paid as soon as possible. The exchange specifically pointed…
The Stacks Foundation, a leading blockchain platform, has just announced a new partnership with Uphold, the multi-asset money platform, aimed at boosting the mainstream Bitcoin (BTC) adoption, according to the information shared with Finbold on May 14. Thanks to the collaboration, Uphold users will not only be able to trade native STX but also seamlessly transfer their STX between their external Stacks compatible wallets and Uphold accounts. Uphold’s Anything-to-Anything trading model Uphold stands out as more than just a typical cryptocurrency exchange with its Anything-to-Anything trading approach allowing users to trade between various asset classes such as cryptocurrencies, commodities, and…
The Grayscale Ethereum Trust (ETHE), one of the largest investment vehicles for ethereum, has seen a significant evolution in its price compared to the net asset value (NAV). Historically, the Trust has traded at a discount to NAV, but recently, in anticipation of the expected launch of a spot ETF, this discount has turned into a premium. From discount to premium: a significant change for the Grayscale Ethereum Trust The impact of the regulator The future of ETHE and ethereum ETFs From discount to premium: a significant change for the Grayscale Ethereum Trust The transition from discount to premium is…
In a recent video update, fiance guru Kevin Paffrath, best known as the host of the YouTube channel Meet Kevin, delves into the reasons behind Cathie Wood’s recent decision to sell a significant amount of Tesla stock (NASDAQ: TSLA). Kevin begins by questioning why Cathie Wood, Founder and CEO of ARK Invest, is selling Tesla stock, especially when the stock has recently been experiencing significant gains. Kevin notes that ARK Invest sold 56,000 shares of Tesla to invest in Archer Aviation and other stocks. According to a report by MarketWatch, Wood’s flagship Ark Innovation ETF (ARKK) sold 56,425 Tesla (TSLA)…