US Printed More Money in One Month Than in Two Centuries

The Federal Reserve’s money printer has cranked up to ridiculous levels — but will it really lead to inflation? In a letter to investors released on July 29, Pantera Capital CEO Dan Morehead noted that the United States has printed a shocking amount of money to combat the pandemic-induced financial crisis. “The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through…

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Longfin Ordered to Repay $223M to Investors

Longfin, a blockchain-related firm that conducted a $27 million IPO in 2017, has been ordered to repay $223 million to investors. A Manhattan federal judge has ruled that Longfin — a now defunct firm whose shares surged 1000% in 2017 after it bought an undervalued crypto company  —  must repay $223 million plus interest to investors over alleged securities fraud. In a July 29 order, Judge Denise Cote determined the nine-figure sum is collectively owed by Longfin, its chief executive Venkata Meenaalli, CTO Vivek Ratakonda, and the director of two…

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Bitcoin Cash Games Launches $3K Leaderboard Tournament to Celebrate the 3rd BCH Anniversary

To celebrate the third anniversary of Bitcoin Cash, the world-class gaming platform Bitcoin Cash Games is launching a leaderboard tournament worth $3k. On August 1, the Bitcoin Cash community will be celebrating the network’s third anniversary and the project has come a long way since 2017. Bitcoin cash (BCH) has garnered widespread attention, it’s the fifth-largest market by valuation, and developers have completed a number of beneficial upgrades over the last few years. BCH has solidified itself as the go-to cryptocurrency for a reliable peer-to-peer electronic cash system. At Bitcoin…

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Analyst Is Predicting a “Deepish Pullback” For Ethereum as Price Fails at $325

Even after a slight pullback from the local highs of $330, Ethereum remains one of the best-performing cryptos of the past week. According to Coin Market Cap data, the asset is trading for $324 on leading margin exchanges at the moment. This resilience has convinced some analysts that a move to $360, a critical resistance, is imminent. Yet an analyst says that with ETH’s inability to hold $325, the top cryptocurrency faces a potential pullback. Ethereum may be boosted in the longer run by positive developments around ETH2, an upgrade…

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A Major Source of Bitcoin Selling Pressure Just Disappeared, Boosting the Bull Case

The PlusToken Ponzi Scheme has long been a thorn in the side of the crypto market It now appears that the ring leaders behind the now-defunct scheme have all been arrested, meaning that they won’t be able to offload their massive crypto holdings Many analysts have pinned major selloffs in previous months on token sales coming from this source Now that this isn’t a factor, the crypto markets may be able to rally with greater ease PlusToken – the Chinese Ponzi scheme that stole billions of dollars’ worth of crypto…

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Stimulus Is Failing: Global Banks to Break Support Levels, US Dollar Plummets to 2-Year Low

Central banks worldwide have injected further stimulus into the economy, as European Union (EU) leaders recently approved a $2.1 trillion budget, the Bank of England boosted stimulus injections in mid-June, and the Federal Reserve announced on Wednesday that it would keep lending until the end of the year. Meanwhile, bank indexes show that financial institutions based in the UK, Japan, and the EU are about to break support levels that have held up since the mid-eighties. The global economy looks bleak and the world’s central banks are trying really hard…

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Cash App for Comment: Joe Rogan Tells 200M Listeners to Buy Bitcoin

Cash App is paying Joe Rogan big bucks to talk up Bitcoin according to his scripted spiel on his most recent podcast. Podcaster Joe Rogan used the first few minutes of a recent episode to read out an advertisement for his sponsor Cash App and to tell listeners to buy Bitcoin. On Episode 1515 of the Joe Rogan Experience released on July 28, Rogan adopted his customary tone used to plug advertising sponsors — including Cash App — before going on to state some serious technical points about Bitcoin (BTC),…

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Russian Interest in Paxful’s P2P Platform Surges 350%

Paxful has released data showing growing usage of its peer-to-peer trading platform in Russia. Data from Bitcoin (BTC) marketplace Paxful shows a huge surge of interest in cryptocurrency peer-to-peer trading in Russia, with 350% growth on a year-over-year (YoY) basis. According to the study, from the period of May 2019 to May 2020, Paxful is now seeing an average monthly trading volume of $4M in Russia. The company says that this number “exceeds expectations,” together with the YoY usage increase figures. The last three-months saw a 42% increase, with May…

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William Shatner’s NFT Collectibles Sell Out at Warp Speed

Fans bought 125,000 non-fungible token trading cards featuring Star Trek’s William Shatner on the WAX Blockchain. Digital collectibles featuring personal memorabilia from the actor best known as Captain Kirk of the USS Enterprise have sold out in just minutes. Non-fungible token (NFT) trading cards featuring images from William Shatner’s personal life and career, from the 1930s to today, sold out in nine minutes according to WAX. The online marketplace for virtual items offered 10,000 “packs” for sale, featuring roughly 125,000 digital collectibles in total. Collectors can now buy, sell, and…

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Is the Growing Correlation Between Bitcoin and Gold a Bullish Sign?

The correlation between Bitcoin and gold daily returns is increasing, leading investors to expect further upside from BTC price. As Bitcoin (BTC) rallied to its 2020 high of $11,392 this week, its correlation with gold increased and at the moment, BTC’s monthly correlation with gold on daily returns sits at 0.66, according to data from CryptoCompare.  The correlation started to increase as gold broke through $1,900, nearing a new high before pulling back alongside Bitcoin.  The increase in correlation represents a trend shift as the relationship between the two had…

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