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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Finder’s Experts Predict Ethereum Will Reach $4.5K This Year, $18K in 2025

Ethereum will have a very bullish year, according to a price prediction poll made by Finder. The average price that the second-ranked crypto asset by market capitalization will reach this year is about $4.5K, according to polled experts in the cryptocurrency industry. The panel is also bullish about ethereum long term, expecting a price of about $18K for the year 2025. Experts Bullish About Ethereum in the Short Term Finder, an investing companion app, released its Ethereum price prediction poll results, which reveal a bullish sentiment for the present and…

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Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts Surface

In a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In its report, the UK outlet Daily Mail claims to have seen documents suggesting that Raees had purchased Vanuatu citizenship for about $131,000 (£95,000) back in October 2020. About three months later, Ameer would make a…

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Market Strategist Says Bitcoin’s Best Days Are Ahead, Won’t See Restrictive Fed Policy Anytime Soon

The founder of investment management firm Michael Lee Strategy says that “the best days of bitcoin are definitely ahead of it,” expecting the cryptocurrency to “make all-time new highs.” The strategist further says that it will be a long time “before we see any sort of taper or any sort of restrictive policy from the Fed” or other central banks worldwide. Market Strategist Expects Bitcoin to Make All-Time New Highs Michael Lee, founder of Michael Lee Strategy, shared his outlook for bitcoin in an interview with Fox Business Monday. Michael…

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Tesla Reveals Bitcoin Holdings Worth $1.3 Billion in Q2, $23 Million BTC Impairment

Elon Musk’s electric car company, Tesla, is holding bitcoin worth $1.311 billion. The company did not buy or sell any bitcoin during the second quarter but recorded bitcoin-related impairment of $23 million. Tesla’s action reaffirms Musk’s prior statement that neither he nor Tesla had sold their coins. Tesla’s Q2 Bitcoin Holdings Elon Musk’s Tesla released its second-quarter earnings report Monday. The company’s Q2 2021 unaudited balance sheet shows a net digital asset value of $1.311 billion as of June 30. Tesla’s Q2 unaudited balance sheet showing the company’s net digital…

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Ternoa to List on AscendEX

PRESS RELEASE. AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is excited to announce the Ternoa token (CAPS) listing under the pair USDT/CAPS on July 27 at 1 p.m. UTC. AscendEX and the Ternoa team will jointly launch two limited-time promotional events to celebrate the CAPS listing. The activities will consist of airdrop rewards tasks and a trading competition taking place between July 27, 1:00 a.m. UTC to August 3, 12 a.m. UTC, offering users a chance to win a share of pooled rewards worth 80,000 USDT!…

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Biden team weighs return to mask mandates in some states

Top Biden administration officials are weighing whether to recommend that states and communities with low vaccination rates reimpose mask mandates, particularly indoors, as part of discussions on how the administration can do more to slow the spread of the Delta variant. White House and health agency officials debated the option at a Sunday meeting that took place amid a surge of Covid-19 cases and hospitalizations in the South and Midwest, according to four individuals with knowledge of the matter, and that reflected an increasing sense of urgency inside the White…

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Government leaders to their workers: Get vaccinated or get tested

OAKLAND — California, New York City and the Department of Veterans Affairs on Monday announced that their own government employees must get vaccinated or get tested regularly, stopping just short of an absolute mandate as the nation experiences an alarming resurgence of Covid-19. The cascading requirements mark an abrupt shift in policy for some of the nation’s largest public employers, which initially tried to use encouragement to boost the nation’s stagnating vaccine takeup. The changes will directly affect hundreds of thousands of people, from health care and state government employees…

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DOJ says federal law doesn’t bar businesses, agencies from mandating Covid vaccines

Justice Department lawyers say that federal law doesn’t stop private businesses or public agencies from mandating Covid vaccines, an opinion released on Monday just hours after the Department of Veterans Affairs became the first federal agency to mandate inoculations for some of its employees. The opinion from the department’s Office of Legal Counsel, dated July 6, opens the door for more businesses to require the shots for U.S. workers as Covid spreads among the unvaccinated, and comes two months after the Equal Employment Opportunity Commission released guidance saying U.S. employers…

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Thorchain Trolled by Hacker After Two Successful Seven-Figure Exploits

Thorchain, a popular defi protocol, has been compromised twice in the last two weeks, resulting in losses of over $10,000,000. The hacker responsible for the latest exploit left behind a message detailing the measures that should be undertaken to protect users. Hacker Returns to the Scene to Lecture on Security In another blow against the Thorchain protocol, the defi network has found itself the victim of another hack after the equivalent of 4,000 ethereum (ETH) was stolen just days earlier. Thorchain, which features an automated market maker (AMM) and decentralized…

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Fed Faces Double Inflation as Supply Chain Falters, Economists Question Spending, Biden ‘Not Worried’

Reports show a vast majority of the American populace has been worried about rising inflation and as the weeks roll by, the financial situation continues to look grim. US Senator: ‘There’s No Justification for the Fed to Maintain Its Purchases’ A few analysts believe the upcoming two-day meeting held by the U.S. central bank’s Federal Open Market Committee (FOMC) will give markets clues on whether or not the Federal Reserve plans to taper quantitative easing and raise interest rates. Meanwhile, Joe Biden’s administration has dismissed inflation and Biden claimed at…

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Cheney-McCarthy war of words heats up over Jan. 6 investigation

Liz Cheney is already taking public heat from House Minority Leader Kevin McCarthy — and dishing it back — over her Democratic appointment to the select panel investigating the Jan. 6 Capitol attack. The relationship between McCarthy and Cheney has steadily deteriorated throughout the year, with an apparent peak coming when the California Republican helped oust Cheney from the House GOP’s No. 3 leadership spot. But tension is spiking again now that Cheney and Illinois Rep. Adam Kinzinger — Donald Trump’s two most vocal GOP critics in Congress — are…

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Jeff Bezos Directs Amazon to Accept Bitcoin and Other Popular Cryptocurrencies: Report

Amazon is reportedly planning to accept bitcoin by the end of the year, after which the company will roll out support for other major cryptocurrencies. Furthermore, the company is exploring launching its own cryptocurrency. “The directive is coming from the very top … Jeff Bezos himself.” Amazon’s Crypto Project ‘Ready to Roll’ Following the news of Amazon seeking to hire a digital currency and blockchain lead, City A.M. publication reported that the company actually has plans to accept bitcoin and other popular cryptocurrencies. Citing “an insider” at the company, the…

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Bipartisan infrastructure talks in dire state ahead of pivotal week

The bipartisan infrastructure negotiations entered their darkest phase in more than a month on Monday, with the parties openly feuding over policy and former President Donald Trump urging Republicans to drop the effort altogether. Democrats and the White House on Sunday night offered a proposal to Republicans asking for a compromise on highway and public transit funding, as well as several other unresolved areas. Senate Republicans panned Democrats’ latest offer, a bleak sign for the talks ahead of another pivotal week of negotiations in the Senate. “The ‘global offer’ we…

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Fed weighs curbing cash machine as critics warn of housing, stock bubble

Shortly after the pandemic struck last year, the Federal Reserve began buying billions of dollars in government debt every month to drive down borrowing costs and keep the economy from collapsing. Today, house prices are surging, stocks have continued their stratospheric rise, and banks have more cash than they know what to do with. Yet the Fed is still pumping billions into the economy. Why? That’s what a growing number of lawmakers, investors and even some Fed officials themselves are demanding to know. They are warning that the central bank’s…

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Binance Smart Chain Creates a $10 Million Bug Bounty Fund to Tighten Protocol Security

The Binance Smart Chain has launched a $10 million bug bounty fund for projects building on top of the protocol, called “Priority One.” The initiative aims to keep the blockchain network secure by encouraging bug bounty hunters and ethical hackers. Binance Smart Chain Reveals $10 Million Bug Bounty Fund ‘Priority One’ Security experts and bug bounty hunters now have incentive to help the Binance Smart Chain (BSC) developers secure the network. On Monday, the BSC project revealed “Priority One,” a $10 million fund for projects built on top of the…

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Massive Short Squeeze Pushes Bitcoin Closer to $40K, Crypto Economy Jumps 9% Higher

The price of bitcoin jumped over 15% in a matter of three hours on Sunday evening and came awfully close to the $40K handle. Since then, the crypto asset has dropped back a few percentages and currently hovers above the $38K range. The entire cryptocurrency economy has spiked 9.72% rising to $1.53 trillion in overall value. Bitcoin’s Price Skyrockets After Long Period of Consolidation Bitcoin and digital asset values have risen dramatically during the last 12 hours as bitcoin (BTC) jumped more than 15% yesterday evening (EDT). BTC has managed…

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Santo Blockchain and French Artist Jerome Peschard Release Cutting Edge XR-NFT Series

PRESS RELEASE. Santo Blockchain Labs have joined forces with French artist Jerome Peschard to create an XR-NFT art series like nothing the crypto market has seen before. 26th July 2021, Ho Chi Minh City, Vietnam — Santo Blockchain Labs, a creative blockchain software development company has joined forces with renowned French pop artist Jerome Peschard, to bring to life a new series of NFTs called XR-NFTs “eXtended Reality Non-Fungible Tokens”. What Are XR-NFTs? XR-NFTs are the most eclectic form of using 3D scanning telemetry, augmented reality, virtual reality, sound, and…

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‘Death by 1,000 cuts’: Dems face mounting crisis over GOP voting laws

ATLANTA — After Georgia Republicans passed a restrictive voting law in March, Democrats here began doing the math. The state’s new voter I.D. requirement for mail-in ballots could affect the more than 270,000 Georgians lacking identification. The provision cutting the number of ballot drop boxes could affect hundreds of thousands of voters who cast absentee ballots that way in 2020 — and that’s just in the populous Atlanta suburbs alone. It didn’t take long before the implications became clear to party officials and voting rights activists. In a state that…

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‘People are scared’: Democrats lose ground on school equity plans

Elina Kaplan is the kind of suburban mom who made Joe Biden president. An immigrant who came to the United States from the Soviet Union, she is a registered Democrat from San Mateo County, Calif. And she’s alarmed over her state’s new model ethnic studies curriculum, which cites critical race theory as a “key theoretical framework and pedagogy.” “I firmly believe that if the vast majority of Californians and Americans knew about this, and about the content of this type of curriculum, this would not be happening. We would not…

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Manchin weighs another term as his influence peaks

Joe Manchin strongly signaled in 2018 that his brutal reelection campaign that year was his last. Now, as he marshals the entire Senate in his centrist direction, he’s not so sure he’ll call it quits. The West Virginia Democrat is steadily padding his campaign coffers, raising $1.6 million in the first six months this year and sitting on nearly $4 million for a potential race that wouldn’t occur for three years. His colleagues say he’s not acting like a senator in his last term, despite his famous assertion during his…

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‘No justification’: Fed pressed to stop pumping cash into booming markets

Shortly after the pandemic struck last year, the Federal Reserve began buying billions of dollars in government debt every month to drive down borrowing costs and keep the economy from collapsing. Today, house prices are surging, stocks have continued their stratospheric rise, and banks have more cash than they know what to do with. Yet the Fed is still pumping billions into the economy. Why? That’s what a growing number of lawmakers, investors and even some Fed officials themselves are demanding to know. They are warning that the central bank’s…

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Kubernetes Clusters Used to Mine Monero by Attackers

Attackers are abusing an attack vector present in one of the most popular execution engines (Argo Workflows) to repurpose Kubernetes systems to mine cryptocurrencies. The attack exploits a vulnerability in the system of permissions of Argo Workflows machines connected to the internet, deploying malicious workflows that install Monero-based containers. Attackers Leveraging Argo Workflows for Crypto Mining A group of attackers discovered a new attack vector that uses a vulnerability in the permission system of Argo Workflows, one of the most used execution engines for Kubernetes, to install cryptocurrency mining modules…

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Tesla Q2-2021 Earnings Call to Shed Light on Its Bitcoin Holdings

The upcoming Tesla Q2-2021 earnings call, which will be announced this Monday after market hours, will at last shed some light on what has happened with the company’s bitcoin holdings. The company held more than 1.5 billion dollars in bitcoin on Q1 and has reported only one sale to “test the market’s liquidity” according to its CEO, Elon Musk. The cryptocurrency community has been patiently waiting in anticipation to see the disclosures stemming from Tesla’s forthcoming earnings report. Tesla’s Earnings Call Generates Expectation in the Bitcoin Community The upcoming earnings…

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FTX Slashes Leverage Limit from 100x to 20x — Community Suspects Competitors Will Follow Example

FTX CEO Sam Bankman-Fried told his Twitter followers on Sunday that his crypto exchange has lowered its margin trading limit from 101x to 20x. Prior to the change, FTX supported 50x, 100x, and 101x leverage but Bankman-Fried said these high leverage positions represent “a tiny fraction of volume.” FTX CEO Announces Cutting Leverage Limits, 2x Leverage the Most Common FTX customers will have to adjust to changes as the crypto-asset exchange has dropped its max leverage rate from 101x to 20x this weekend. Of course, the formerly supported 50x, 100x,…

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Analyst Jim Cramer Calls Ethereum the ‘Pied Piper of Crypto’ but Won’t Add to His Position

CNBC’s stock analyst and crypto investor Jim Cramer says he’s still bullish on his choice to invest in ethereum after removing bitcoin from his portfolio. Three days ago, Cramer tweeted that he’s “sticking with” his ethereum position “but not adding to it.” Jim Cramer: ‘Ether Is a Pied Piper Security’ A number of CNBC broadcast hosts are proponents of cryptocurrencies and Jim Cramer, the host of the “Mad Money” show is one of these individuals. At the end of June, Bitcoin.com News reported on how Cramer moved his bitcoin position…

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Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether

A portfolio strategist for American financial services firm Morningstar says that cardano could become a mainstream cryptocurrency alongside bitcoin and ether, forming a “big three” of mainstream cryptocurrencies. Strategist Believes Cardano, Ether, Bitcoin Could Become Mainstream Cryptocurrencies Amy Arnott, a cryptocurrency-focused portfolio strategist at Morningstar, shared her views on crypto regulation, ether, and cardano in an interview with the Insider last week. Noting that since many cryptocurrencies are not cash-generating, Arnott said it is difficult to determine a suitable price for them. However, she explained that ether has an in-built…

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Trump’s impact on the line in Texas special election

A special election in Texas is set to test the enduring power of former President Donald Trump’s endorsement on Tuesday, as two Republicans compete for a fast-changing seat south of Dallas and Fort Worth. Trump backed Susan Wright — the widow of the late Rep. Ron Wright, who died of complications from Covid-19 — just before the May 1 special primary, and he has reaffirmed his endorsement in events and statements throughout the runoff. But Wright, who has also gotten the nod from Sen. Ted Cruz and local politicians, is…

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Jack Dorsey Calls Bitcoin a ‘Big Part’ of Twitter’s Future as a Global Currency

Twitter CEO Jack Dorsey says that bitcoin will be a big part of the company’s future. “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet,” he said. Bitcoin Set to Be a Big Part of Twitter Twitter announced its quarterly earnings Thursday that beat analysts’ forecasts. During the company’s Q2 earnings call, CEO Jack Dorsey said that bitcoin would be a…

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US Senator Launches Investigation Into ‘How Cryptocurrencies Facilitate Cybercrimes’

A U.S. senator has launched an investigation into the rise of ransomware attacks as well as how cryptocurrencies facilitate cybercrimes. “The investigation will also look into current oversight efforts and regulations related to virtual currencies,” the senator explained. Investigation Into Crypto’s Use in Cybercrimes U.S. Senator Gary Peters announced last week a bipartisan “investigation into [the] rise of ransomware attacks and how cryptocurrencies facilitate cybercrimes.” Peters is the chairman of the Homeland Security and Governmental Affairs Committee. He has led several efforts to bolster the U.S. cybersecurity defenses. The announcement…

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Number of Cryptocurrency ATM Locations Soars Past 24K Worldwide

The number of cryptocurrency ATMs has surpassed 24,000 globally. Out of 75 countries with crypto ATMs, the U.S. tops the list with the most locations. 24K+ Cryptocurrency ATMs Worldwide The number of cryptocurrency ATMs has exceeded 24,000 globally, according to the crypto ATM tracking website Coinatmradar. At the time of writing, the total number of crypto ATMs worldwide stands at 24,022 locations. The machines are located in 75 countries. The U.S. tops the list with 21,161 locations, followed by Canada with 1,698 locations and the U.K. with 174 locations. There…

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