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Commodity Strategist Mike McGlone Says Cryptocurrencies May Be Facing Their First Real Recession
Bloomberg Intelligence’s senior commodity strategist Mike McGlone has warned that “cryptos may be facing their first real recession.” The Federal Reserve tightening despite the risk of a recession “could be a primary…
Cryptocurrency Exchanges Offer Assistance to Earthquake-Hit Turkey
Major crypto exchanges have offered to help the people of Turkey to overcome the consequences of this week’s devastating earthquake. While the crypto industry pledged support, the country’s financial authorities allowed the…
Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days
Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals…
3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery
According to recent court filings, Kyle Davies, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has allegedly failed to respond to a subpoena from the firm’s current liquidators, despite it being sent…
Biggest Movers: MATIC Moves to 10-Month High, ATOM Extends Recent Gains
Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8. The token surged for a second straight session, after snapping a three-day losing streak on Tuesday. Cosmos also surged higher in…
Privacy Coin Interest Stays Tepid as Leading Coins Report Modest Gains in 2023
Over the past 90 days, the top privacy coins by market capitalization have seen an increase of just over $2 billion, rising from $4.65 billion on Nov. 9, 2022 to $6.69 billion today. However, while crypto assets such as bitcoin and ethereum…
Elementus Raises $10 Million to Bring Clear Blockchain Analytics to Institutional Customers
Elementus, a New York-based blockchain firm, has raised $10 million as part of its Series A-2 funding round, led by Web3 VC company Parafi Capital. The raise, which values the company at $160 million, aims to allow Elementus to keep…
Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as…
North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils
The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, according to a draft U.N. report. Despite the difference between quoted estimates, the authors conclude that 2022 was a record-breaking…
US Dollar to Keep Losing Its Appeal as Safe-Haven Currency of Last Resort, Says Strategist
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that the USD “is likely to…