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Sale continues 🤑
Cryptocurrency prices began this week on a whim, continuing their downward trend, clearing billions of dollars from the value of the crypto market last week.
NS Bitcoin Prices are now closer to $ 40,000 than $ 50,000, Ethereum It’s heading for $ 3,000. Among the top 10 cryptos Cardano When Solana An upgrade hangover has seized control of the ADA, causing the market to fall as Sol receds with tremendous momentum until August.
Among the (very) minor tokens, memecoin Shiba Floki Cryptocurrency influencer Elon Musk added almost 500% last night after sharing an image of his new puppy, the Shiba Inu called Floki (still around 3,000 on CoinMarketCap).
Inflation clock … The latest US Consumer Price Index (CPI) data will be released tomorrow (Tuesday), rising prices last month as economists and the crypto community continue to vie over whether recent inflation is the cause of their concerns. I will clarify. Tomorrow’s data will affect next week’s Federal Reserve Board meeting, where plans to reduce economic stimulus will be discussed.
Sports doubleheader cipher: Cryptocurrency Strange Stories / Cryptocurrencies and Sports “Pumping” by Players and Legends on Social Media: Marriage … Well, we’ll see
Koreans are facing a “bank run” situation 🏦🏃♀️
Altcoin angst: According to media reports, South Korean cryptocurrency traders are facing a “run” situation, and regulations could close many small exchanges in the country and wipe out 42 so-called kimchi coins. I have. Foreign and domestic exchanges must register as a legitimate trading platform by September 24th, but many have difficulty meeting the conditions.
Approaching: Lee Chul-yi, head of Foblgate, a medium-sized exchange, said, “Investors can’t cash their altcoin holdings, which are only listed on small exchanges, so it’s similar to a run on the bank. The situation is expected near the deadline. “Country said Financial Times.. “They will suddenly become poor. I wonder if regulators can deal with the side effects.”
Count costs: according to FTSouth Korean cryptocurrency traders are preparing for a $ 2.6 billion loss as national regulator Financial Services Commission (FSC) cracks down on two-thirds of South Korea’s crypto exchange. Approximately 40 of South Korea’s estimated 60 crypto operators are expected to be shut down.
Important reason: South Korea is one of the largest cryptocurrency markets in the world, and the Korean won is the third most widely used currency in Bitcoin transactions, accounting for about 5% of the world’s transactions after the dollar and euro. increase. FT Reported with citation of data from Coinhills. This regulation also affects global exchanges that offer won trading. The FSC has sent notices to 27 foreign crypto exchanges operating for Korean traders. Last month, Binance, the world’s largest cryptocurrency exchange, shut down its won-to-cryptocurrency trading service.
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Big if true: Rumors swirl that Ukraine may adopt Bitcoin
Following some overly excited media coverage, rumors are swirling on social media that Ukraine may follow El Salvador in adopting Bitcoin as fiat currency.
In a report from the London Business Newspaper City AM, “Ukraine will be the next country to make Bitcoin fiat currency,” experts claimed that European countries are preparing to make Bitcoin fiat currency, There is little evidence that you are actually working.Remember, it’s City AM Recently reported online retail giant Amazon
Last week, in a nearly unanimous vote, the Ukrainian parliament chose to legalize and regulate Bitcoin and cryptocurrencies, causing speculation that it was stepping into the adoption of cryptocurrencies.
Do not miss it: El Salvador commits Bitcoin scam
At least one hedge fund still likes crypto …
Brevan Howard, a London-based hedge fund, is expanding its crypto business, hiring new talent and launching a new crypto-focused division called BH Digital.
Brevan, who launched a digital asset fund in May and said his flagship fund will also invest in cryptocurrencies, is well known for its macroeconomic betting. Brevan Howard is currently hiring CMT Digital CEO Colleen Sullivan to lead private and venture investments in crypto.
“Colleen’s extraordinary track record of making highly successful crypto venture investments has brought significant benefits to Brevan Howard’s clients, highlighting the company’s commitment to rapidly expanding its crypto and digital asset platforms and products. “Aron Landy, CEO of Brevan, said in his first report.NS Reuters..
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