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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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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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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