Cryptonews

They say it’s to reward folks for trading, holding, staking, and basically making the USD1 stablecoin do all the heavy lifting. Because nothing says “secure investment” like earning points for swapping digital dollars, right? And all this jazz is happening in cahoots with a few crypto exchanges, because of course it is. 🤝

And can we talk about volatility? Or rather, the lack of it? Bitcoin’s liquidations hit $18 million, while Ethereum stole the show with $50 million worth of liquidations. Total liquidations? A measly $146 million. That’s less action than a Sunday matinee at a retirement home. 🍿

Brazil could leapfrog into the future as one of the first countries to explicitly regulate the establishment of a national Bitcoin reserve. On August 20, lawmakers will discuss Bill 4501/2024, titled “Provides for the formation of a Sovereign Strategic Reserve of Bitcoins by the Federal Government and provides other measures.” If passed, this initiative would position Brazil as a trailblazer in Latin America, turning the country’s foreign reserves into a mixed bag of fiat and crypto. Talk about diversifying your portfolio! 💼💸

If you squint at the monthly chart (which I do, because what’s better than staring at charts for fun?), AVAX is about to have its *moment*. It’s been bouncing around that $20-$23 zone like a kid on a pogo stick, always just making it back to the same place. And just above that, a descending trendline that’s probably tired from all the retests-kind of like that friend who keeps coming back even after you told them to take a hike. Each time it’s tested, the reaction gets a tiny bit milder-like a boxer getting used to punches, or me getting used to eating way too much cheese.

But hold your horses, because David Schwartz, the Chief Technology Officer (CTO) of Ripple, wasn’t about to let these bold claims go unchecked. He swiftly made himself “available” (because who wouldn’t want to chat with the CTO of a multi-billion-dollar project, right?) to lay down the cold, hard facts about Ripple, the XRP Ledger, and the RLUSD stablecoin.

Just a quick rundown for those not glued to their screens: Binance.US announced it’s giving Toshi a prime time debut on August 7 at 7 a.m. EDT. Meanwhile, Worldcoin’s debut on August 6 caused approximately as much fuss as a cat in a laundry basket. The early price? About a 4% bump-nothing earth-shattering, but it looks like it’s waiting for a bus that might never come.

Now, you might wonder, what’s the real reason behind this sudden crypto fever? It’s quite simple, really. This acquisition is all about giving Parataxis exposure to the shiny world of Bitcoin, where “yield generation” and “capital preservation” are the key buzzwords. They’ll be swimming in Bitcoin, and no one will ever need to worry about them not preserving their capital. 🤑

But here’s the real kicker: stablecoins are totally stealing the show. Circle’s USDC is leading the pack, making up a staggering 63% of all crypto salaries. That’s right, folks, USDC is the new black in the crypto world. Despite Tether’s USDT still reigning supreme in trading volume, it seems crypto companies and their employees are putting their trust in the stability and reliability of USDC. Who knew digital money could be so… stable? 😂

Mrs. Long did not mince words when she declared that Ripple’s woes extend far beyond the vexations of an SEC lawsuit. Nay, she posits that the very architecture of the network-a centralized design paired with what she terms a “flawed” token model-is the root of much mischief. It seems that even the most ardent defenders of XRP must concede that its early days were somewhat… unorthodox. A full pre-mine? Early fundraising efforts? One can almost hear the collective gasp of institutional investors clutching their monocles. 😱

Ah, the Indian Income Tax Department, that paragon of bureaucratic efficiency, has unleashed a digital barrage of 44,057 emails and messages on crypto traders who forgot to mention their digital assets in tax returns. 🚨 This is part of a grand quest to ensure everyone’s crypto gains are as transparent as a glass of water. … Read more