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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Cryptopunk Owner Hopes to Sell Punk for $91 Million — Pixelated NFT Punks Outshine the Competition

While traditional crypto assets have seen market sentiment drop to a level of uncertainty, non-fungible token (NFT) assets have continued to sell in the millions. One project developed by Larva Labs called Cryptopunks has seen some of its NFTs sell for millions and on May 11, a collection of nine Cryptopunks sold for $16.9 million at Christie’s. Now a Cryptopunk NFT owner is attempting to unload a single NFT (Cryptopunk 3100) for $91.64 million. Cryptopunk 3100 Owner Wants $91 Million Non-fungible token (NFT) artwork and collectibles have shocked the world…

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Nodeseeds Launches Three-Tier Membership to Ensure Transparency and Fair Allocation of Projects

PRESS RELEASE. Blockchain venture capitalist firm Nodeseeds has announced the launch of a three-tier membership system to democratize its investment process. Nodeseeds revealed further details in a blog post on its medium page. Fair Allocation Tier System According to the post, Nodeseeds stated that the tiers were designed to ensure fair allocation of bonuses to NDS token holders. The three-tier system is divided into Seed Members, Private Members, and Anchor Members. Seed Members is the entry-level tier and the minimum requirement to qualify is to hold 25 NDS tokens. Some…

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Binance Discontinues Futures and Derivatives Products in Germany, Italy, and the Netherlands

Binance, the leading cryptocurrency exchange by trading volumes, announced it is discontinuing its derivatives and futures products in Germany, Italy, and the Netherlands. This is likely the consequence of the regulatory crackdown that governments all over the world have exerted on Binance lately. The company also stressed this was the start of a complete plan to wind down their derivatives products offerings across the European region in a now-deleted tweet. Binance Discontinues Derivatives Offering in Germany, Italy, and the Netherlands Binance, one of the biggest cryptocurrency exchanges, has announced it…

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Bank of America Sees Benefits in Adopting Bitcoin as Legal Tender in El Salvador

Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings to El Salvador as Legal Tender Bank of America (BOA) outlined some potential benefits in El Salvador adopting bitcoin as legal tender in a report published last week. The analysts, including Latin American strategist Claudio Irigoyen, explained that “The market has been excessively pessimistic about it and is overlooking…

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Biden’s bipartisan win leaves progressives thirsting for more

The Senate’s $550 billion infrastructure deal offers historic amounts of cash for a host of causes that progressive Democrats hold dear — from boosting mass transit and high-speed rail to addressing the impacts of climate change to closing socioeconomic divides in clean water and broadband internet service. Yet many liberal activists found themselves caught between deflated and enraged. No groups may feel more jilted than transit advocates, who argue that Senate Democrats and President Joe Biden are passing up a rare opportunity to wean the U.S. from its century-old addiction…

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Biden leans on governors and mayors to deflect heat over evictions

An escalating blame game between President Joe Biden and congressional Democrats over the expiration of the federal eviction ban has left local officials frustrated and scrambling to deal with a wave of renters now at risk of losing their homes. The Biden administration on Monday rebuffed calls from Speaker Nancy Pelosi and other top Democrats to revive the eviction moratorium, which expired Saturday, after unsuccessfully leaning on Congress to enact its own ban last week. The White House said the Centers for Disease Control and Prevention lacked legal authority to…

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US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It

Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, and Rep. Ted Budd have also voiced concerns. Lawmakers Oppose Crypto Tax Provision in Infrastructure Bill The U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a statement by Ranking Member Pat Toomey Monday…

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White House says states, cities must rescue renters after eviction ban lapse

The White House on Monday again shot down Hill Democrats’ calls for the Centers for Disease Control and Prevention to unilaterally extend the nationwide eviction moratorium that expired this weekend, saying the agency doesn’t have the legal authority. Less than 24 hours after House Speaker Nancy Pelosi and other Democratic leaders pressed President Joe Biden to act, the White House said that while it could not extend the ban, it would look for “every potential legal authority” it has to prevent evictions. Gene Sperling, a White House adviser and American…

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Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline

South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11 crypto exchanges allegedly used fraudulent collective…

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Schumer weaponizes August recess to advance Biden agenda

Chuck Schumer doesn’t have to be the bad guy in the Senate’s infrastructure debate. The calendar is doing that job for him. With the upper chamber closing in on President Joe Biden’s long-sought, $550 billion bipartisan infrastructure plan and readying a budget to set up a companion $3.5 trillion domestic spending plan, the majority leader is letting the simple threat of his members missing state fairs and overseas delegations drive the result. August in Washington isn’t any senator’s idea of a good time. So while the Senate is scheduled to…

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Digital Transformation Law Draft Would Allow Users to Pay Mortgages With Crypto in Spain

A new proposal of a digital transformation law, written by a group of lawmakers in Spain would introduce the possibility of paying mortgages with cryptocurrency. The law draft also gives different incentives for companies and organizations using and developing solutions using these technologies, including tax cuts. Banks are also included in the regulation, and the draft includes the use of smart contracts for managing some processes in these organizations. Spain Would Include Crypto in Its Mortgage System A new draft of a digital transformation law, presented by a group of…

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Biden says bipartisan deal will solve the country’s lead problem. It won’t.

President Joe Biden vows that the bipartisan infrastructure deal would eliminate lead from the nation’s drinking water systems, particularly in low-income and communities of color that disproportionately suffer exposure to the potent neurotoxin. But the $1 trillion legislation unveiled Sunday evening won’t come close to fulfilling that promise. The bill unveiled by Senate negotiators tags just $15 billion for the lead removal initiative — a fraction of the $45 billion that the White House initially called for to accomplish its signature goal, and far less than the $60 billion that…

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New Games from iSoftBet Create Joyously Beautiful Experiences at Bitcoin.com’s Casino

Fun and excitement have been let loose for players to experience amazing new games at Bitcoin.com’s very own crypto gaming portal! An enthralling range of games are on offer at Bitcoin.com Games – the crypto casino that players have come to love to play their favorite games on in recent years. Ever since its inception back in 2016, the casino portal has quickly become a favorite amongst crypto enthusiasts owing to the wide variety of games, a robust platform, and the trustworthiness of the Bitcoin.com brand. With undeniably exciting games…

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While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan’s Hydropower Plants Were Not So Lucky

Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners and small power plants have been fueled by this goal. Sichuan, Yangtze River Hydropower Plants Feel the Aftermath of the Recent Crackdowns on Energy Production and Consumption in China During the last few months, China’s…

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US Lawmaker Introduces Legislation to Regulate Crypto Assets and Protect Investors

A U.S. congressman has introduced the Digital Asset Market Structure and Investor Protection Act. The legislation would “provide the Securities and Exchange Commission (SEC) with authority over digital asset securities and the Commodity Futures Trading Commission (CFTC) with authority over digital assets.” Digital Asset Market Structure and Investor Protection Act U.S. Representative Don Beyer introduced the Digital Asset Market Structure and Investor Protection Act last week. The legislation would incorporate digital assets into existing financial regulatory structures, according to an announcement posted on his official website. The congressman said: Digital…

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Jihan Wu’s Matrixport Raises $100 Million — Singapore Startup Joins Growing List of Crypto Unicorns

Matrixport, the digital currency financial services company co-founded by the former Bitmain CEO Jihan Wu, has revealed the company has raised $100 million in a Series C financing round. The funding has propelled Matrixport’s valuation to unicorn status as the firm now has a valuation of over $1 billion. Matrixport Now Valued at $1 Billion, Company Raises $100 Million in Series C On Sunday, the company Matrixport, a financial services firm that specializes in cryptocurrency solutions, management, and custodial services, revealed the company has raised $100 million from a slew…

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Special election ignites battle over who is ‘welcome’ in Black caucus

The winner of a special House election in northeast Ohio is almost certain to be one of two Black women. But the Congressional Black Caucus is intervening with an unusual goal: playing favorites between them. Shontel Brown — the chosen candidate of the caucus — would honor “the rich history” of the group, not be someone who fights against it while “trying to make a name for themselves,” CBC Chairwoman Joyce Beatty (D-Ohio) said while campaigning in the district Saturday with other top Black lawmakers. Brown wouldn’t be “a single…

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Mastercard Outlines Plans for Cryptocurrencies, Stablecoins, Central Bank Digital Currencies

Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Mastercard Wants a Role in All 3 Crypto Areas Payments giant Mastercard provided an update of its cryptocurrency plans during the company’s earnings call Thursday. CEO Michael Miebach explained that his company wants a role in three crypto areas. In addition to cryptocurrencies, such as bitcoin,…

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Tensions rise within Biden team over mask reversal

CHICAGO – A sea of maskless, sweaty, thrashing bodies filled Chicago’s Grant Park, pushing up against the performance stage as acts like Miley Cyrus screamed into the microphone. Roughly 100,000 people a night poured into the four-day long Lollapalooza, one of the biggest music festivals in the world. But, as it happened this year, the festivities came at the same time that the White House was recalibrating its message on Covid-19, warning that vaccinated people who experienced rare, so-called breakthrough infections of the Delta variant could transmit the virus as…

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Senate negotiators finalize bipartisan infrastructure bill

A group of senators finalized legislative language Sunday evening for the long-awaited bipartisan physical infrastructure deal, bringing the Senate one step closer to passing a top priority for President Joe Biden. The finished product comes after Senate negotiators and their staff worked throughout the weekend on text for the bipartisan agreement, which includes $550 billion in new spending on roads, bridges, highways, broadband and water infrastructure. Senate Majority Leader Chuck Schumer on Sunday evening took the next procedural step to move the legislation forward, predicting it would pass the chamber…

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Pelosi turns tables on White House, urges eviction ban extension

Speaker Nancy Pelosi and her leadership team on Sunday urged President Joe Biden to immediately renew and extend the eviction moratorium until Oct. 18 after House Democrats failed to marshal the votes to prevent its lapse this weekend. Pelosi, Majority Leader Steny Hoyer (D-Md.), Whip Jim Clyburn (D-S.C.) and Assistant Speaker Katherine Clark (D-Mass.) issued a joint statement Sunday night putting the ball back in the Biden administration’s court, after the White House on Thursday said it could not extend the eviction ban and urged Congress to do it. “It…

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Pro-Trump social network becomes safe haven for ISIS

Just weeks after its launch, the pro-Trump social network GETTR is inundated with terrorist propaganda spread by supporters of Islamic State, according to a POLITICO review of online activity on the fledgling platform. The social network — started a month ago by members of former President Donald Trump’s inner circle — features reams of jihadi-related material, including graphic videos of beheadings, viral memes that promote violence against the West and even memes of a militant executing Trump in an orange jumpsuit similar to those used in Guantanamo Bay. The rapid…

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CIA feud complicates Jan. 6 probe

A long-percolating conflict between two prominent alumni of the CIA’s secretive internal watchdog office has burst into public view, creating a headache for the House’s investigation of the Jan. 6 Capitol riot. David Buckley is now the top Democratic staffer on the select committee investigating the insurrection. But 11 years ago, he was a CIA inspector general who made clear upon taking office that he wanted a cultural shift: Buckley sought a more aggressive approach to rooting out alleged wrongdoing in the agency, prioritizing probes that could lead to criminal…

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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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