The U.S. economy has entered a technical recession
According to the results of April-June 2022 the GDP of the USA declined by 0.9% in comparison to the first quarter. Taking into account the 1.6% drop in January-March the economy entered a technical recession.
The day before, Fed Chairman Jerome Powell urged not to give much weight to the upcoming macrostatistics release.
“I do not think the U.S. is currently in a recession and the reason is there are too many areas of the economy that are performing too well,” Powell said during a press conference on Wednesday. “You tend to take first GDP reports with a grain of salt,” he added.
Treasury Secretary also urged that the current situation should not be called a recession, but limited to the notion of a "slowing economy”.
Well, whatever you call it, but a drop in GDP for two quarters in a row is a recession.
According to the results of April-June 2022 the GDP of the USA declined by 0.9% in comparison to the first quarter. Taking into account the 1.6% drop in January-March the economy entered a technical recession.
The day before, Fed Chairman Jerome Powell urged not to give much weight to the upcoming macrostatistics release.
“I do not think the U.S. is currently in a recession and the reason is there are too many areas of the economy that are performing too well,” Powell said during a press conference on Wednesday. “You tend to take first GDP reports with a grain of salt,” he added.
Treasury Secretary also urged that the current situation should not be called a recession, but limited to the notion of a "slowing economy”.
Well, whatever you call it, but a drop in GDP for two quarters in a row is a recession.
Bitcoin and ether surpassed all expectations in just a few days
The world's first cryptocurrency rose to $22,000 on the back of the U.S. Federal Reserve's recent key rate hike (to 2.25-2.5%).
And the total capitalization of the cryptocurrency market exceeded $1 trillion again.
The day before, it had fallen below this bar.
Today, bitcoin has not only crossed the $23,000 line, but is trading around $24,000 - $23,836 at the time of writing this post.
Ethereum is trading at $1,728.
Renowned analyst Michael van de Poppe noted that Fed Chairman Jerome Powell is leaning toward easing monetary policy. He stressed that the markets are positively influenced by Ethereum's move to Proof-of-Stake and the fact that the events surrounding Three Arrows Capital and Celsius "are already priced in."
Let's watch where these and upcoming events will lead the two major coins🤔
The world's first cryptocurrency rose to $22,000 on the back of the U.S. Federal Reserve's recent key rate hike (to 2.25-2.5%).
And the total capitalization of the cryptocurrency market exceeded $1 trillion again.
The day before, it had fallen below this bar.
Today, bitcoin has not only crossed the $23,000 line, but is trading around $24,000 - $23,836 at the time of writing this post.
Ethereum is trading at $1,728.
Renowned analyst Michael van de Poppe noted that Fed Chairman Jerome Powell is leaning toward easing monetary policy. He stressed that the markets are positively influenced by Ethereum's move to Proof-of-Stake and the fact that the events surrounding Three Arrows Capital and Celsius "are already priced in."
Let's watch where these and upcoming events will lead the two major coins🤔
Nirvana Stablecoin (NIRV) on the Solana blockchain collapsed more than 90% to $0.09 in a short time.
Experts report that the DeFi-protocol was subjected to an instant loan attack, causing attackers to withdraw $3.49 million, having previously borrowed $10 million from the Solend protocol.
The hacked NIRVANA protocol team asked the fraudster to return all assets and move to "white hacker" status
In appreciation for the vulnerability found, NIRVANA is willing to pay a $300,000 bounty bonus, and to end the investigation entirely
Experts report that the DeFi-protocol was subjected to an instant loan attack, causing attackers to withdraw $3.49 million, having previously borrowed $10 million from the Solend protocol.
The hacked NIRVANA protocol team asked the fraudster to return all assets and move to "white hacker" status
In appreciation for the vulnerability found, NIRVANA is willing to pay a $300,000 bounty bonus, and to end the investigation entirely
Apple is aiming for Web 3.0.
The company has published a vacancy for a deputy creative director for content, whose area of interest should include the Web3 sector.
Well, it makes sense: Cook said at the beginning of the year that he sees potential in the metaverse sector, so a bias toward Web3 in the coming years looks as logical as possible.
What's more, Apple is good at generating profits😎
The company has published a vacancy for a deputy creative director for content, whose area of interest should include the Web3 sector.
Well, it makes sense: Cook said at the beginning of the year that he sees potential in the metaverse sector, so a bias toward Web3 in the coming years looks as logical as possible.
What's more, Apple is good at generating profits😎
FTX received a cryptocurrency exchange license in Dubai
FTX has received a license from the Dubai Virtual Asset Regulatory Authority (VARA) to provide cryptocurrency exchange and custody services.
💬"Our license extends to retail customers, but we will expand gradually to ensure that we approach the mass market in accordance with VARA guidelines," said FTX director Balsam Dunhah.
The permit will allow FTX to extend its own reach into the Middle East region.
FTX has received a license from the Dubai Virtual Asset Regulatory Authority (VARA) to provide cryptocurrency exchange and custody services.
💬"Our license extends to retail customers, but we will expand gradually to ensure that we approach the mass market in accordance with VARA guidelines," said FTX director Balsam Dunhah.
The permit will allow FTX to extend its own reach into the Middle East region.
Despite the current crypto chaos, the balance of Bitcoin miners has reached a 4-year high - in total, companies that mine the first cryptocurrency walk 1,845,303 BTC, which is 9.6% of the current BTC issue.
As we can see, the recent news that miners are dumping BTC is just FUD. Most likely, only those who didn't initially build a clear business plan and just weren't ready to pay their electricity bills during the fall of the crypto market were selling at minimums.
As we can see, the recent news that miners are dumping BTC is just FUD. Most likely, only those who didn't initially build a clear business plan and just weren't ready to pay their electricity bills during the fall of the crypto market were selling at minimums.
Since the beginning of the year, Yuga Labs has earned more from the sale of the NFT collection Otherdeed ($47 million) than from the iconic BAYC ($31 million) or MAYC ($25 million)
That said, Otherdeed has only been around for 3 months (i.e., it hasn't hit the bull market), and the difference in commercial numbers widened even more in June and July.
That said, Otherdeed has only been around for 3 months (i.e., it hasn't hit the bull market), and the difference in commercial numbers widened even more in June and July.
This media is not supported in your browser
VIEW IN TELEGRAM
💎Jewelry firm Tiffany & Co. has announced the release of its own NFTiff collection, NFTiff, exclusively for CryptoPunk holders.
NFTiff is limited to 250 pieces, priced at 30 ETH ($50,000). NFT buyers will also receive an exclusive Tiffany & Co. physical pendant
NFTiff is limited to 250 pieces, priced at 30 ETH ($50,000). NFT buyers will also receive an exclusive Tiffany & Co. physical pendant
ApeCoin community to launch its own media outlet
The ApeCoin DAO community has approved $150,000 in APE tokens to create its own news publication called The Bored Ape Gazette.
The resource will cover news about the Bored Ape Yacht Club (BAYC), as well as the Mutant Apes, Kennel Club NFT collection.
DAO plans to allocate $10,000 each month to sponsor the newsletter - which means that the allotted funds will be enough for 15 months of operation of the site.
The ApeCoin DAO community has approved $150,000 in APE tokens to create its own news publication called The Bored Ape Gazette.
The resource will cover news about the Bored Ape Yacht Club (BAYC), as well as the Mutant Apes, Kennel Club NFT collection.
DAO plans to allocate $10,000 each month to sponsor the newsletter - which means that the allotted funds will be enough for 15 months of operation of the site.
"I don't think any of the existing corporate attempts to intentionally create the metaverse are going anywhere" - Buterin
Ethereum creator Vitalik Buterin said in his Twitter that the "metaverse" will be created, but as you can tell from his statement - not now.
Ethereum creator Vitalik Buterin said in his Twitter that the "metaverse" will be created, but as you can tell from his statement - not now.
🧬 Binance has launched Binance Account Bound (BAB), a non-transferable and non-financial token that is designed to verify verified status on the exchange.
In the future, BAB can be used to fight bots, in voting and other tasks.
It is worth noting that BAB belongs to the Soulbound token standard - the concept was invented by Vitalik Buterin, inspired by unique items in the game World of Warcraft.
In the future, BAB can be used to fight bots, in voting and other tasks.
It is worth noting that BAB belongs to the Soulbound token standard - the concept was invented by Vitalik Buterin, inspired by unique items in the game World of Warcraft.
🐳 A new Bitcoin whale bought 131,883 BTC worth $3 billion in July - a user has not been identified yet by the cryptocurrency community, the first time it bought $10 million on July 18, 2022.
Whale currently owns 0.7% of all BTCs in circulation.
UPD: there is a theory that this is Michael Saylor's new wallet.
Whale currently owns 0.7% of all BTCs in circulation.
UPD: there is a theory that this is Michael Saylor's new wallet.
Dear followers, we open sales of ads on our channel now
If you are interested, please, contact @relevant_theory
If you are interested, please, contact @relevant_theory
🇺🇸 Coinbase is launching Ethereum staking for U.S. institutional customers - users can stack through the Coinbase Prime platform, and all "asset withdrawal keys will be stored on Coinbase cold wallets."
Representatives of the crypto exchange said that "the protection of customer funds is the highest priority," and also recalled the recent situation around "unreliable companies." Voyager, Celsius and Terra.
Representatives of the crypto exchange said that "the protection of customer funds is the highest priority," and also recalled the recent situation around "unreliable companies." Voyager, Celsius and Terra.
Elon Musk filed a countersuit against @twitter
And it was filed just hours after the court set for October 17 to start hearing Twitter's lawsuit against Musk, in which the company demands to oblige the businessman to complete his purchase.
Elon's lawyers are still silent: but apparently Tesla's boss has no plans to pay Twitter anything :)
And it was filed just hours after the court set for October 17 to start hearing Twitter's lawsuit against Musk, in which the company demands to oblige the businessman to complete his purchase.
Elon's lawyers are still silent: but apparently Tesla's boss has no plans to pay Twitter anything :)
Michael Saylor reminds all the skeptics and trolls that MicroStrategy's stock price has risen by +123% over the period of bitcoin adoption (since August 10, 2020), outpacing the profitability of BTC itself (+94%)
Over the same time frame, the S&P500 (+23%), NASDAQ (+13%), gold (-13%), bonds (-14%), silver (-29%), GOOGLE (+54%), APPLE (+43%), Microsoft (+34%), Amazon (-14%), META (-39%), Netflix (-53%)
Over the same time frame, the S&P500 (+23%), NASDAQ (+13%), gold (-13%), bonds (-14%), silver (-29%), GOOGLE (+54%), APPLE (+43%), Microsoft (+34%), Amazon (-14%), META (-39%), Netflix (-53%)
Regulator, no messing around
Representatives of the European Union Securities and Exchange Regulatory Authority (ESMA) announced that they will monitor the cryptocurrency sector more closely.
They decided to create new measures to control transactions and gave 14 days to the cryptocurrency community to join the discussion of this issue.
What do they want to control?
Cryptographic data, information about spot transactions, transactions with cryptocurrency derivatives.
Maybe they should also say, passport data, email password, mother's maiden name, and the name of the first pet?
Representatives of the European Union Securities and Exchange Regulatory Authority (ESMA) announced that they will monitor the cryptocurrency sector more closely.
They decided to create new measures to control transactions and gave 14 days to the cryptocurrency community to join the discussion of this issue.
What do they want to control?
Cryptographic data, information about spot transactions, transactions with cryptocurrency derivatives.
Maybe they should also say, passport data, email password, mother's maiden name, and the name of the first pet?