The bitcoin price is crashing at the start of the US session after US Consumer Price Index inflation came in at the top of economists' forecasts.Bitcoin is trading down 4.1% at $21,404 after a good run in which still leaves the price up 13% over the past seven days.After remaining unchanged in July, the US data for August saw prices increase 1% on a monthly view, dashing hopes that the rate might be stabilizing before starting to turn lower.
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Fidelity Investments might provide its clients with access to Bitcoin trading via its brokerage platform, according to a report from The Wall Street Journal. The firm has been highly engaged in crypto markets, and already announced products that will provide their wealthy clients with exposure to the cryptocurrency. Over the past months, Fidelity has been under the radar of U.S. government officials as the company aims to expand its Bitcoin offering and products
We are witness to a highly turbulent period for wealth creation. We’re also experiencing this amid high inflation, rising interest rates and stagnant wages. In confronting this reality, one must ask, is crypto a viable solution to reviving flagging economies around the world and supporting widespread economic development, or is this just another scenario destined to fall into the same old cycles we’ve seen before? Is crypto truly a viable hedge against inflation, and is decentralized finance (DeFi) a practical supplement to help stabilize an imperfect financial system? Let’s explore some of the cycles and trends that may help reveal what the future of finance holds for the world.
Jocelyn Cheng, the London-based CEO of Luno Expeditions, believes many of those opportunities lie beyond the US. Her firm, the venture arm of Luno, a crypto-investing company, has invested in 30 Web3 and fintech companies in 15 countries, including Nigeria, Kenya, and Pakistan.Insider spoke with Cheng about where she thinks crypto applications are poised to grow globally.
Cardano blockchain builder Input Output Global (IOG) has funded a $4.5 million blockchain hub at Stanford University, the latest in a series of academic research outposts around the globe.
The U.S. Federal Reserve has tightened the window for the launch of its FedNow instant payments platform to between May and July of 2023. FedNow will be open to financial institutions of any size, allowing them to facilitate instant payments for consumers and businesses, giving customers immediate full access to funds.
More than half of global crypto derivatives industry representatives say they expect to see a more severe approach by the world’s regulatory agencies as a result of the recent decreases in the prices of cryptoassets. At the same time, most of the network believes Bitcoin Price Returns to $65,000.
Ethereum (ETH) co-founder Vitalik Buterin said that: “After the Merge, Ethereum will be 55% complete, there’s so much to be done in the coming years and that’s where opportunity for Web3 builders & enthusiasts comes in.” Buterin made this comment in a press release shared with Cryptonews.com, ahead of the inaugural ETHWarsaw conference, which will last for two days, followed by two days of hackathon, from September 1 until September 4.
Futures tracking ether (ETH) saw over $230 million in losses in the past 24 hours as buying pressure built up on the world’s second-largest crypto by market capitalization ahead of an essential catalyst in September.
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