04 Sep 2024
Bitcoin ETFs see $287.8 million outflow, largest since May 1
Quick Take Farside data shows that Bitcoin ETFs experienced a significant outflow of $287.8 million on Sept. 3, marking the largest outflow since May 1, when $563.7 million exited the market. Eight ETF issuers recorded outflows, highlighting a broad retreat from Bitcoin ETF investments. Read more
Grayscale unlock hindered Ethereum ETFs but inflows suggest brighter future
The US-traded spot Ethereum (ETH) exchange-traded funds (ETFs) registered $476 million in negative net flows during the first month of trading, failing to overcome the outflows stemming from the unlock of Grayscale’s ETHE. Bloomberg senior ETF analyst Eric Balchunas the “heroic” performance of the Newborn Nine spot Bitcoin (BTC) ETFs. Read more
FBI warns of North Korean threat to crypto, cautions against potential ETF-related attacks
The Federal Bureau of Investigation (FBI) issued a warning about North Korea’s aggressive targeting of the crypto industry on Sept. 3. The agency detailed the sophisticated social engineering campaigns conducted by North Korean actors against employees of crypto-related businesses, notably DeFi applications.
Ethervista launches on Ethereum, aims to outshine Pump.fun with secure liquidity locks
Ethereum now has its own native platform — Ethervista — where people can create and launch memecoins in the same vein as Solana-based memecoin deployer Pump.fun. Ethervista is a decentralized exchange (DEX) that introduces a novel approach to liquidity management and token launches on the Ethereum network. Read more
Ripple USD Stablecoin Could be Issued in 'Weeks, Not Months': Garlinghouse
The RLUSD will be fully backed by U.S. dollar assets, tested with enterprise partners, and will operate on the XRP Ledger and Ethereum blockchain. Read more
Polygon Begins Token Swap, in Move to Allow More Issuance
The migration from POL to MATIC will also bring in some tokenomics changes with a new emission rate of 2%. Read more
Polygon to Start Much-Awaited Swap of POL Token for Longstanding MATIC
The migration from POL to MATIC will also bring in some tokenomics changes with a new emission rate of 2%. Read more
Inside the Trump Crypto Project Linked to a $2M DeFi Hack and Former Pick-Up Artist
Four team members listed in World Liberty Financial's white paper previously worked on Dough Finance, which was drained of $2 million in July. One also founded Date Hotter Girls LLC. Read more
DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%
Crypto users lost some $2 billion due to hacks, scams and exploits throughout 2023, one report said. Read more
How Decentralized AI and Zero-Knowledge Proofs Will Democratize Compute
AI is at risk of the same centralization seen in earlier editions of the internet. But another way is possible, say Mahesh Ramakrishnan and Vinayak Kurup. Read more
Why ‘Universal Basic Compute’ Is a Solution to Economic Inequality
And how DePIN networks could make it possible, according to Mark Rydon, Co-Founder of Aethir. Read more
Bitcoin Could Drop 20% After Fed Rate Cuts in Bearish Case, but Weak September Presents Buying Opportunity: Analysts
Bitcoin could fall to as low as somewhere in the $40,000-$50,000 range following a September Fed rate cut in a bearish scenario, Bitfinex said in a report. Read more
Crypto Tuesday Crumble Sends Bitcoin Below $58K, Ether to 7-Month Low
Flattish markets turned decidedly negative as U.S. stocks posted sharp losses following the three-day weekend. Read more
Matter Labs Restructures to Meet Changing Demands, Lays Off 16% of Team
The company made the move to adapt to "the different type of technology and support" that developers building on ZKsync now require. Read more
BitGo CEO Says Wrapped Bitcoin’s Critics Aren’t Being ‘Intellectually Honest’ About Their Concerns
The loudest critics of BitGo’s deal with Justin Sun-affiliated BiT Global also want to see their ‘number go up.’ Read more
First Mover Americas: Bitcoin Gain Checked by Hints of Further BOJ Rate Rises
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 3, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Read more
Ripple Will Soon Add Ethereum Compatible Smart Contracts to XRP Ledger
The contracts will exist on a sidechain built on XRPL, developers said in a Tuesday post. Read more
SEC Commissioner Mark Uyeda Calls for S-1 Form Tailored for Digital Assets
Uyeda said the U.S. agency can work with crypto firms to figure out how to differentiate S-1 forms for digital assets. Read more
US Fed rate cut could push Bitcoin down 20% — Analysts
Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market. Read more
Why is the crypto market down today?
The crypto market opens the day in the red as disappointing US macroeconomic data is followed by a sell-off in the stock market. Read more
Signs point to a likely altcoin rally in the final months of 2024
Altcoins fought an uphill battle for the first eight months of 2024, but several signs are suggesting that an explosive recovery is imminent. Read more
Bitcoin price loses traction as miner profits drop and spot BTC outflows persist
Bitcoin has lost more than 10% in the past two weeks as fear of a US recession, spot Bitcoin ETF outflows and the threat of miner capitulation grows. Read more
Crypto Markets Dump 6%, Magnificent 7 Shed $550B, as ‘Slumptember’ Begins
The world’s leading companies have lost billions of dollars in market capitalization amid a stock market slump in what is traditionally a bearish month. Read moree
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