US GDP Q2 2022 Declined By 0.9%: Recession Supports Crypto Prices

US GDP Q2 2022 Declined By 0.9%: Recession Supports Crypto Prices

According to the Bureau of Economic Analysis released on Thursday, the U.S. Gross Domestic Product (GDP) declined by 0.9% in the second quarter. Consumer spending, the key factor that plays a significant role in the country’s GDP growth, increased by only 1%. In comparison to Q1/2022, the hike rate is insignificant. It looks like a US downturn is good for cryptos prices, as the entire crypto complex is trending up as the recession bites. Recession And Crypto? The GDP result in Q1/2022 was also negative growth with a decline of…

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CoinFLEX Lays Off a Significant Portion of its Team to Reduce Costs by 50 – 60%

CoinFLEX Lays Off a Significant Portion of its Team to Reduce Costs by 50 – 60%

Summary: The CoinFLEX team has announced that it has laid off a significant portion of its team to cut operational costs by 50 to 60%. CoinFLEX has also made cuts in non-staff costs. The team explained that the cost-cutting was meant to transform the exchange into a leaner business. The CoinFLEXCoinFLEX Resumes Crypto Trading With Limited Withdrawals of Up to 10% of User Funds team has announced that it let go of a significant number of its team across all departments and geographic locations. The team explained that the staff cuts…

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Ethereum Classic’s Hashrate, Transactions up 24% and 62% in One Month as Ethereum’s Merge Draws Nearer

Ethereum Classic’s Hashrate, Transactions up 24% and 62% in One Month as Ethereum’s Merge Draws Nearer

Summary: Ethereum Classic’s metrics have seen a significant increment this month due to Ethereum’s merge being scheduled for mid-September. Ethereum Classic hashrate has increased by 23.90% since the beginning of July. Its daily transactions have also increased by 62.90%. Ethereum Classic’s price has also increased by over 200% in July. Ethereum Classic continues to be the sole beneficiary of Ethereum’s ongoing transition from a proof-of-work network to proof-of-stake. The speculation that ETC could absorb some of Ethereum’s proof-of-work ecosystem has resulted in numerous of ETC’s metrics rising significantly in July…

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Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid SEC Lawsuit Over XRP

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid SEC Lawsuit Over XRP

Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined. Ripple’s Counsel Calls for ‘Sensible’ Crypto Regulation Stuart Alderoty, general counsel for Ripple, stressed the importance of sensible cryptocurrency legislation in an opinion piece published Wednesday. Referencing a House Financial Services Subcommittee hearing on Investor Protection where Congressman Brad Sherman (D-CA) pushed the…

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Reviewing CryptoGames and All Its Features!

Reviewing CryptoGames and All Its Features!

Brief Overview:  CryptoGames is gradually gaining a solid reputation among many online platforms. The casino is running efficiently on the internet with high security and cutting-edge services. The casino has established itself as an online gambling space that fully functions for crypto users who seek the latest systems for gaming. CryptoGames has been efficiently running on the internet for many years from the city of Curacao. The casino also consistently provides unprejudiced crypto betting opportunities to all players regardless of how new and or experienced online gaming enthusiasts they are.…

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