Michelle Bond, partner of ex-FTX exec Ryan Salame, charged by DOJ for using $400,000 in FTX funds for her 2022 Congressional campaign. Both accused of concealing illegal financing. Salame seeks to annul his guilty plea.
Fed Chair Jerome Powell hints at rate cuts due to slowing inflation and labor market weakness. $BTC surged to $62,320 before stabilizing at $61,700. $ETH briefly hit $2,700, settling at $2,666, reflecting a 2% increase in 24 hours.
ASIC wins lawsuit against Kraken subsidiary Bit Trade for compliance failure on a new product. The court’s ruling avoids harsher penalties but sets a precedent for increased regulatory scrutiny in the crypto industry. Kraken agrees to comply.
Tether CEO confirms no plans for a proprietary blockchain, will rely on Ethereum and Tron. $ETH holds 57% of TVL. Tether authorized 33B USDT, earning $5.2B profit in H1. Plans $1B investment in AI, mining, and data by 2024.
Binance’s announcement of a USDT-backed perpetual contract for $VIDT led to a 59% price surge to $0.03623. The contract, offering up to 75x leverage, also boosted 24-hour trading volume by 27.99% to $32.12M and market cap by 52.36% to $30.01M.
SatLayer raises $8M, led by @Hack_VC and @CastleIslandVC, to enhance Bitcoin’s ($BTC) security and scalability through Bitcoin Validated Services. Investments include OKX Ventures and Franklin Templeton. Initial $4M goal saw $16M interest.
Bitcoin transaction fees surged 937% on August 22, 2024, reaching an average of $7.65, the highest since June 2024. Some users paid nearly 0.5 BTC to consolidate 0.55 BTC. The spike coincided with Babylon’s mainnet launch but normalized by August 23.
Ethereum’s ($ETH) price climbs to $2,670, driven by stability above $2,550, @VitalikButerin’s bullish posts, key tech upgrades, and an impending 140K ETH options expiry. These factors suggest a promising upward trend for the cryptocurrency.
Ripple mints 385 RLUSD stablecoins, pegged 1:1 to USD, on $ETH and $XRP Ledger. The stablecoin is fully backed by USD deposits with monthly audits. Testing is ongoing; regulatory approval pending. Ripple cautions against potential scams.
Sony Block Solutions Labs and Startale launch Ethereum Layer-2 network Soneium to integrate blockchain with mainstream internet services like entertainment, gaming, and finance. Launch partners include Chainlink and Astar network, with a testnet coming soon.
The National Bank of Ukraine bans crypto transactions in hryvnia, stifling market growth. KUNA halts local operations; founder Mikhail Chobanyan notes economic recovery and regulatory changes are crucial for revival amid high taxes and risks.
$BTC options worth $1.12B are set to expire with a put-call ratio of 0.83. $BTC price has oscillated between $59K-$61K. Analyst @woonomic suggests the market is in a “healthy reset,” reducing excessive speculation. Low volatility may precede a major move.
Federal Reserve Chair Jerome Powell to speak on August 23 at the Kansas City Fed’s Economic Symposium. July FOMC meeting minutes and CME forecasts suggest a likely September rate cut, raising anticipation in the crypto market.
Russia to introduce two crypto exchanges in Moscow and St. Petersburg, alongside a BRICS stablecoin tied to the RMB and a currency basket. Regulatory and tech challenges arise amid sanctions and lack of unified legal framework.
