Fed Begins to Taper QE- US Central Bank Removes $351 Billion in Liquidity via Reverse Repos

After pumping extreme amounts of liquidity into markets, the U.S. Federal Reserve seems to be tapering back monetary easing policy via reverse repos (RRP). Following this week’s published minutes report from the Fed’s April monetary policy meeting, it seemed as though members of the central bank were prepared to discuss rolling back large-scale Treasury and mortgage-backed securities (MBS) purchases. This week, during a three-day period, the U.S. central bank removed $351 billion in liquidity according to reports. Fed Removes $351 Billion in Liquidity from Market via Overnight RRP Operations Last…

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While GBTC Bitcoin Stacking Slows, Grayscale Accumulates Alternative Crypto Assets

Established in 2013, the firm Grayscale Investments has managed to become the world’s largest asset manager for digital currency. While initially starting with bitcoin, the company has since added a myriad of different crypto assets as Grayscale commands $36.34 billion in assets under management (AUM) between 13 different digital currencies. While the asset manager has a large sum of bitcoin, ethereum, and ethereum classic, lately Grayscale has been stacking a great number of other coins. Grayscale’s Attention Is Seemingly Focused on Alternative Crypto Assets Since the asset manager started seven…

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Buda Exchange Starts Requesting Selfie Verification for Withdrawals to New Bitcoin Addresses

Buda, a Chile-based cryptocurrency exchange, has started requesting selfie verification every time a user needs to withdraw funds to a new bitcoin address. This new measure now introduces a new layer of security for users to avoid getting their accounts hacked, but it will only be mandatory for those that don’t have 2FA activated. Buda Exchange to Request Selfie to Make Withdrawals to New Addresses Buda, a Chile-based exchange formerly known as Surbtc, will now implement new security measures to protect its users from hacking attempts. The platform will now…

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Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’

A Kenyan insurance executive, Julius Kipng’etich has compared cryptocurrencies like bitcoin to Ponzi schemes and has urged his countrymen not “touch this.” In addition, Kipng’etich warned those already involved in crypto trading to be prepared for the consequences as this always “ends in tears.” Bitcoin as a Medium of Exchange Interestingly, when addressing attendees of a business seminar, Kipng’etich does acknowledge that bitcoin already meets one of the conditions for it to be treated as currency. He said: Currency represents two primary things; it is a medium of exchange and…

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Highly Anticipated Insured Launchpad, Binstarter to Open to the Public on Aug 4th

PRESS RELEASE. Binstarter Protocol; the first and only Insurance Policy Protected IDO Launchpad Protocol is proud to announce to the crypto world that their highly anticipated public sales date has been scheduled on Aug 4th. According to former data collected on the seed sales, the upcoming public sales will have the biggest number of participants. During the seed sales, upwards of 14,500 individuals participated in whitelisting and only 1000 successfully whitelisted to buy BSR tokens. With 13,500 people that did not have a chance to purchase BSR tokens, the public…

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Paypal Hiring Over 100 Crypto Positions as Global Cryptocurrency Adoption Rises

Payments giant Paypal is hiring more than 100 crypto-related positions as demand for cryptocurrencies grows. Paypal’s CEO recently revealed the company’s expansion plans, stating, “We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that.” Paypal’s Crypto-Related Job Postings Paypal is hiring more than 100 crypto-related positions as the company prepares to expand its crypto services. According to Job postings on the company’s website, there are at least 102 job openings related to cryptocurrency and blockchain technology at the time…

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Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian

Mohamed El-Erian, an adviser to Allianz and Gramercy Funds Management, says that “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” Western Governments Urged to Stop Ignoring Crypto Revolution Mohamed El-Erian, president of Queens College, Cambridge University, has urged the crypto world and western governments to cooperate. The Egyptian-American businessman is also chief economic adviser at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief…

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Promoter of Crypto Scheme Touted by Steven Seagal Pleads Guilty, Faces 5 Years in Prison

A promoter of the cryptocurrency scheme previously touted by famous martial artist and actor Steven Seagal has pleaded guilty for his participation. The scheme falsely claimed that it “could generate an 8,000% return for investors within one year.” Crypto Scheme Promoter Pleads Guilty The U.S. Department of Justice (DOJ) announced Friday that John DeMarr, 55, has pleaded guilty “for his participation in a coordinated cryptocurrency and securities fraud scheme through purported digital currency platforms and foreign-based financial accounts.” DeMarr admitted to conspiring with others “to defraud investor victims by inducing…

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Bitcoin Difficulty Increases 6% — It’s Still 48% Easier to Find BTC Blocks Than It Was 30 Days Ago

As expected, Bitcoin’s mining difficulty increased this week jumping 6.03% higher on July 31. The change marks the first increase out of five difficulty adjustment changes. This was after four downward difficulty drops made it 54% easier to mine bitcoin than it was prior to mid-May. Bitcoin’s Mining Difficulty Increases 6%, Difficulty Is Expected to Increase Again in 11 Days On July 31, at block height 693,504, the Bitcoin blockchain’s difficulty adjusts itself depending on how much hashpower is dedicated to the network. The more hashrate dedicated to the BTC…

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NFT Leaderboard Study Highlights the Crypto Industry’s Leading NFT Collectors

As the non-fungible token (NFT) space continues to grow, the blockchain analytics Nansen has published a leaderboards list of the top wallets (NFT collectors) that interact with NFTs on a regular basis. The analytics firm combed through 90 million ethereum wallets and found a number of big market players making moves in the NFT space. The NFT Ecosystem’s Most Prolific Market Collectors Non-fungible token (NFT) technology and the supporting ecosystem have grown quite mature in 2021 and it doesn’t seem like it’s slowing down anytime soon. There’s lots of NFT…

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No hangovers or beer bellies: Cannabis firms try to woo booze drinkers

The cannabis industry has mastered the art of selling pot-infused brownies, gummies and even popcorn. But it’s struggling to boost a potentially lucrative market that centers on persuading Americans to drink their weed. Rather than rolling a joint or puffing on a vape, some of the largest cannabis companies in North America see a multibillion-dollar marijuana beverage industry waiting to be tapped as states increasingly embrace legal weed. “This is a product that they’re going to be very comfortable consuming,” said David Culver, vice president of government relations for Canopy…

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The Unusual Group Trying to Turn Biden into FDR

One recent Wednesday evening, a small of group of concerned citizens gathered on a Zoom call to talk about how to get the attention of the president. At 6 p.m., two rows of elderly faces appeared on screen, staring into the camera: June Hopkins, Henry Scott Wallace, Tomlin Perkins Coggeshall and James Roosevelt Jr. If their names sound vaguely familiar it’s because their relatives—Harry Hopkins, Henry Wallace, Frances Perkins and Franklin Delano Roosevelt—formed the nucleus of one of the most famous and influential Oval Office rosters in American history. Ninety…

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Schumer: Text of bipartisan Senate infrastructure deal close to public release

Legislative text for the Senate’s long-awaited bipartisan infrastructure deal would be “finalized imminently,” Majority Leader Chuck Schumer said Sunday as the chamber continued an atypical weekend session. Senate negotiators and their staff have worked throughout the weekend to finish the language for the bipartisan agreement, which will include $550 billion in new spending on roads, bridges, highways, broadband and water infrastructure. In Sunday floor remarks, Schumer further predicted that the Senate would pass the legislation “in a matter of days” and reiterated his vow that the chamber would pass both…

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Susan Collins: Infrastructure bill has enough Republican support to pass in Senate

Sen. Susan Collins predicted Sunday that the bipartisan infrastructure package will have enough Republican support to pass the chamber this week. “I think we will be able to lay down the bill later today and begin perhaps consideration of some amendments,” the Maine Republican said on CNN’s “State of the Union” ahead of senators’ expected return to session Sunday afternoon. “My hope is that we’ll finish the bill by the end of the week.” Senators have haggled for weeks over the bipartisan infrastructure package, which includes $550 billion in new…

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Manchin: No guarantee reconciliation package will pass

Sen. Joe Manchin would not guarantee Sunday that a Democratic-led reconciliation package would garner the necessary votes for passage, even as he predicted the bipartisan infrastructure package would pass the Senate this week. “I can’t really guarantee anybody,” the moderate Democratic senator from West Virginia said on CNN. “And I have not guaranteed anybody on any of these pieces of legislation. Would we like to do more? Yes, you can do what you can pay for. This is paid for, our infrastructure bill is all paid for.” Manchin called for…

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Analysts Discuss Bitcoin Over-the-Counter Desks Bubbling With BTC Demand

Digital currency markets have been gathering gains again moving past the lows seen a few weeks ago. This week crypto traders have been discussing over-the-counter (OTC) desks bubbling with demand for bitcoin as the co-founder of 21st Paradigm explained, “high net worth individuals [and] institutions want your bitcoin.” Analyst Says Big Market Players ‘Want Your Bitcoin’ Most traders either use decentralized exchange (dex) platforms or centralized exchange (cex) operations to acquire bitcoin (BTC) and a myriad of other digital currencies. However, high-net-worth individuals and institutions usually don’t leverage dex or…

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Bitcoin Cash Shows Maturity in Its Fourth Anniversary

Born four years ago as a result of the disagreement between two groups over scaling issues, Bitcoin Cash has grown to be so much more. Offering a full suite of solutions for cryptocurrency users, having support from thousands of merchants at a worldwide level, and recently introducing Smartbch, a project that aims to tether smart contracts functions to the protocol, Bitcoin Cash is now more mature than ever. However, mishaps have also happened along the way. Welcome to the World, Shuya Yang! On August 1, 2017, in the midst of…

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IT Specialist Caught Mining Cryptocurrency at Police Headquarters in Poland

Polish police have uncovered a secret crypto mining operation at their headquarters in Warsaw, local media reported. An IT specialist accused of minting digital coins on police computers has been dismissed and the case has been handed over to the Prosecutor’s Office. Polish Police Force Fires IT Specialist for Crypto Mining at Work Officers from the Polish National Police have found what local media described as a crypto mining farm at the Policja headquarters in Warsaw. The mining operation was allegedly organized by an IT technician, a civilian employee of…

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Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet

The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to diversify from traditional debt investment strategies. The wealth management firm allegedly has been looking for staff that understands blockchain technology and it’s possible Goldentree is circling distressed businesses within the crypto industry. Goldentree Asset Management Invests in Bitcoin: Report A recent report stemming from the financial publication The Street, says the mega-hedge…

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Andrew Giuliani tries to shed city boy image — and win a shot at Cuomo

LOWVILLE, N.Y. — Andrew Giuliani stopped to pet a cow while touring a corner of the Lewis County Fair where 4-H members displayed prize chickens and the local Holstein club was auctioning off bull semen. “I don’t do that too much in Manhattan,” he said. Giuliani, the son of former New York City Mayor Rudy Giuliani, would like to replace Andrew Cuomo as governor of New York next year. Republicans have have attempted to center the conversation about the still-crowded field of gubernatorial candidates on Rep. Lee Zeldin. The party…

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Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’

Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said. However, according to Senator Ihenyen, the president of Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), the success of such a digital currency will depend on its design. A Hybrid CBDC As per reports, the Central Bank of Nigeria (CBN)’s proposed digital currency, whose piloting phase is set to commence on October 1, will be a…

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Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges

It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth of peer-to-peer trading. ‘Central Bank of Nigeria’s Actions Led to an Increase in Activity on the Black Market’ As some reports have shown, Nigeria’s position as the biggest cryptocurrency market in Africa remains unchallenged. For its part, the CBN has complemented its regular…

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Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. New Legislation Allows Ukrainian Central Bank to Issue Digital Currency The President of Ukraine Volodymyr Zelensky has signed the law “On Payment Services” which was adopted by the Ukrainian parliament on June 30, the president’s administration announced this week. The legislation aims to “modernize and further develop” the…

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Antier Solutions’ Crypto Exchange Script Solutions Helping Businesses to Reduce Their Time-to-Market by 50%

PRESS RELEASE. Antier Solutions, a blockchain development company recognized for its end-to-end solutions, is offering crypto exchange script to expedite the development and deployment of crypto exchange platforms by 50%. Given the cut-throat competition to tap into the billion-dollar crypto market, Antier’s cryptocurrency exchange script solutions help start-ups and enterprises to quickly launch their exchange platforms and take the lead. “The crypto market is highly volatile; businesses need solutions that can help them quickly enter the market, especially when the market is favorable. This has catapulted the demand for cryptocurrency…

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India Reportedly Investigating Binance in Chinese Money Laundering Case

Indian authorities are reportedly investigating cryptocurrency exchange Binance in connection with an ongoing Chinese money laundering case that raked in more than 10 billion rupees ($134 million). Binance’s Regulatory Troubles Continue India is reportedly investigating whether the global cryptocurrency exchange Binance had any role in a Chinese money laundering scheme involving betting apps, local media reported Friday, citing people with knowledge on the matter. The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has summoned Binance’s executives for questioning, according to the people who asked…

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Shark Tank’s Kevin O’Leary Won’t Invest in Dogecoin, Says ‘I Don’t Understand Why Anybody Would’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he does not consider dogecoin an investment. “I don’t participate in that kind of thing. I don’t understand why anybody would,” he said. Kevin O’Leary Won’t Invest in Dogecoin Shark Tank star Kevin O’Leary talked about the meme cryptocurrency dogecoin in an interview with CNBC last week. The chairman of O’Shares ETFs said: I don’t participate in that kind of thing. I don’t understand why anybody would, but that’s their own choice. He explained that investing in dogecoin is like gambling…

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Biden’s model pre-K system becomes ‘a crisis’ in New Jersey

TRENTON, N.J. — New Jersey has spent more than two decades — and many billions of dollars — building a high-quality, free universal pre-K system to serve all needy kids in the state. It’s won widespread acclaim. And President Joe Biden’s administration wants to make it a model for the nation. But the program has an accountability problem. In Trenton, the state’s capital and one of its poorest cities, private pre-K providers have long complained of “political favoritism” and a state Department of Education unwilling — or unable — to…

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Opinion | What I Learned Talking to Fourth-Graders About How to Design Elections

At first, I was simply terrified to visit the class. In my day job, I’m an election law professor, but for an hour last year I was an elementary school teacher. That seemed much harder. My fourth grade daughter had told her teacher that our family dinner conversations often revolved around the contentious 2020 election. So, the teacher sent me an invitation: Would I come discuss constitutional law and voting rights with a group of 9- and 10-year-olds? Normally, I teach these topics to law students, who can engage with…

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Trump political groups raised $82M in first half of 2021

Former President Donald Trump’s political committees raised $82 million during the first half of 2021 and have $102 million in the bank, according to federal filings to be made public Saturday evening. The figures, shared first with POLITICO, underscore the profound reach of Trump’s fundraising power. While the former president is out of office and has been deplatformed on social media sites, he maintains a massive online donor network that he could lean on should he wage a 2024 comeback bid. The scenario is virtually unprecedented: Never in history has…

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Big Investors Are Pushing up Valuations of Crypto Firms

Venture capital firms and large investors are driving up the prices of crypto startups. Boutique investment firms and family offices are being elbowed out by big venture capital firms, private equity funds, and even some pension funds. VC Firms Driving Up Prices of Crypto Startups Cryptocurrency firms are seeing high valuations due to large investors entering the space, according to Henri Arslanian, Crypto Leader at professional accounting and financial services firm PWC, also known as Pricewaterhousecooper. In an interview with Bloomberg Thursday, the executive explained that boutique investment firms and…

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ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes

The day before the fourth Bitcoin Cash anniversary, the Smart Bitcoin Cash team (Smartbch), announced the project has launched three nodes as genesis validators. Smartbch disclosed that Btc.com, Viabtc, and Matrixport are participating and the project has officially started its voting period. Smartbch Fires up Smart Chain’s Genesis Validators For quite some time now, the Bitcoin Cash (BCH) community has been patiently waiting on the development of the Smartbch project. The reason for this is because Smartbch could unlock massive potential between Ethereum (ETH) and Bitcoin Cash. The protocol could…

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