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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US Government Has Seized Cryptocurrencies Worth $1.2 Billion So Far This Year

The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime at the Internal Revenue Service (IRS), shared some information on cryptocurrencies seized by the government with CNBC Wednesday. His division typically handles crypto tracing and open source intelligence, which includes investigating tax evasion, filing false returns, and money laundering. He noted that the seizure of cryptocurrencies…

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OVR and BlackPool: NFTs With Augmented Reality and Virtual Reality

OVR is collaborating with BlackPool to add augmented reality (AR) and virtual reality (VR) to its ERC-721 NFTs at OVRLands. According to reports, the popular digital world of Non-Fungible Token OVRLands, would now have the ability to offer new experiences that give room for every kind of imagination. Thanks to the entry of BlackPool, a decentralized autonomous organization (DAO) built exclusively for NFT gaming and trading, now augmented and virtual reality will add experiences to the NFT world. OVRLands are ERC-721 NFTs representing one of the 1.6 trillion unique hexagons…

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Cryptocurrency Swap Not Banned in Iran, President’s Legal Team Says

Current regulations do not prohibit the swapping of digital currencies, according to the Iranian Vice Presidency for Legal Affairs. The department has stated its position in correspondence with an ICT industry association which wanted to know what rules apply to cryptocurrency exchange, local media reported. Converting a Cryptocurrency Into Another Is Not Against Iranian Law Regulations approved by the Tehran government in 2019 do not ban the swapping of cryptocurrencies, the Vice Presidency for Legal Affairs said in response to an inquiry by the Iranian Information and Communication Technology Guild.…

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FBI Joins Probe Into Collapsed South African Bitcoin Ponzi Scheme

In what is seen as a boost for Mirror Trading International (MTI) investors, United States investigators are said to have joined the probe into the collapsed bitcoin scheme. According to a report, the U.S. investigators’ goal for joining this probe is to help “recover the assets of out-of-pocket investors.” FBI Interest Confirmation of the U.S. Federal Bureau of Investigation’s involvement in the MTI case comes just a few days after reports emerged that the scheme’s masterminds had filed an application seeking to stall the liquidation process. As reported by Bitcoin.com…

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Biden’s vision for the border has gone bust. But what’s Plan B?

President Joe Biden in March wrote off a spike in the number of migrants arriving at the U.S.-Mexico border as a result, at least in part, of winter months being the safest time to make the trek. “It happens every single, solitary year,” he said. Six months into his term, Biden and his team are being proved wrong. The number of migrants apprehended at the border isn’t going down this summer, even as the heat makes the journey to the U.S. more dangerous. Instead, it has reached a 21-year high…

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How Biden’s Supreme Court throwdown could backfire

President Joe Biden’s audacious move to assuage liberals by extending a pandemic-related moratorium on evictions puts him in a position he has so far avoided: inviting a high-profile showdown with the Supreme Court. If the court — as expected — shoots down the policy following a legal challenge by Alabama and Georgia Realtors’ groups, it could also wind up fueling the progressive drive for Supreme Court reform that Biden has been so lukewarm about. “It will be a powerful addition to the progressive bill of particulars against this court and…

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The ‘car guy’ president wants Americans to go electric

Joe Biden’s father sold cars for GM and Chrysler. As a senator, Biden was a top ally for two automakers that were major employers in Delaware. His most prized possession is a 1967 Goodwood-green Corvette Stingray. Now the self-professed “car guy” president wants Americans to make a big change in their driving habits: ditch the gasoline for electricity. Helping his case are steep declines in the costs of batteries, the shift in car makers’ strategies and growing public pressure to reduce the greenhouse gases causing climate change. That confluence of…

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How the House’s eccentric liberal icon won a slew of centrist allies

Rosa DeLauro is racking up so many unexpected wins this year in one of the House’s toughest jobs that, when faced with a rare defeat this summer, she refused to give up. On the House’s penultimate day before the August recess, its Appropriations chair was clinging to the possibility of success on a divisive spending bill that many of her colleagues already knew was dead. DeLauro didn’t want to accept that the legislation, which funded the Department of Justice and tackled controversial policies from policing funds to firearms sales, simply…

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The Senate GOP’s one-man infrastructure test case

As the Senate’s bipartisan infrastructure gang sticks together on the floor this week, Jerry Moran is conspicuously on the outs. Among the group of more than 20 senators who weeks ago pledged to support a $550 billion deal on new infrastructure spending, Moran is the only one who voted against moving forward — twice. And now, as the bill nears the finish line, colleagues in both parties are wondering where the affable two-term Kansas senator will come down. Moran’s support isn’t crucial to passing the bill, but the microscope on…

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South African Start-Up Aims To Shield Merchants From Crypto Price Swings

While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation. Crypto Utility Inspires Volatility Solutions For instance, to undocumented migrants, cryptocurrencies offer a faster and cheaper way of sending money to their loved ones. For users that reside in countries with unstable currencies, cryptos act as an alternative store of value. Cryptocurrencies also act as a shield in times of hyperinflation. In some places, small businesses are now using cryptocurrencies…

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Fans Can Buy Game Moment NFTs In Person at the NBA Summer League Games in Vegas

Attendees of the upcoming NBA Summer League games in Las Vegas at the Thomas & Mack Center will be able to purchase NBA Top Shot non-fungible token (NFT) collectibles in person. For the first time ever, NBA Top Shot fans will be able to buy an NFT moment from a game they saw in person. NBA Top Shot Kiosk Will Offer NFTs at the Summer League Games A non-fungible token you can buy online is one thing, but an NFT that can be purchased in person is something entirely different.…

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Slew of Venture Funds, Eminem, Paul Rosenberg Inject $30 Million Into NFT Platform Makersplace

On Wednesday, the non-fungible token (NFT) market platform Makersplace secured $30 million in a Series A financing round. The team behind the NFT marketplace says it plans to leverage the funds to “acquire additional talent and scale the business.” While the Series A was co-led by Pantera Capital and Bessemer Venture Partners, the world-famous hip hop star Eminem also invested in Makersplace. Makersplace Raises $30 Million to Scale the NFT Business The company that developed the non-fungible token (NFT) market platform Makersplace has revealed the firm has raised $30 million…

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House GOP’s new midterm headache: Candidates tied to the Capitol riot

The GOP’s political turmoil over the Jan. 6 insurrection is seeping into the midterm elections. House Republican leaders have forcefully condemned the violent Capitol riot by Donald Trump’s supporters. But the GOP campaign arm is now in the uncomfortable position of watching several of its own candidates face sharp questions about their role in the deadly siege that injured scores of police officers. One of those GOP candidates, Derrick Van Orden in Wisconsin, has distanced himself from the violence, saying he left the pro-Trump “Stop the Steal” rally after rioters…

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SEC Has No Authority Over Pure Commodities Like Crypto Assets, Says CFTC Commissioner

Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC. Regulation of Crypto Assets by SEC and CFTC A commissioner with the U.S. Commodity Futures Trading Commission, Brian Quintenz, clarified Wednesday that pure commodities, including crypto assets, fall under the jurisdiction of his agency. He tweeted: “Just so we’re all clear here, the SEC has no authority over…

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Landlords plot legal challenge to stop Biden eviction ban

Trade groups representing property owners are planning to sue to block a new federal eviction moratorium that President Joe Biden himself warned this week was on shaky legal ground, according to two sources familiar with the matter. The Alabama and Georgia chapters of the National Association of Realtors are expected to file a motion in federal court seeking to halt the ban that the Centers for Disease Control and Prevention ordered Tuesday, the sources briefed on the plans said. The groups also led a legal challenge against the prior federal…

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SEC Chair Gensler Outlines Plans for Crypto Trading, Exchanges, Investor Protection, Bitcoin ETFs

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined how the SEC plans to regulate the crypto industry. Focusing on investor protection, Gensler discussed concerns the SEC has about crypto trading, exchanges, lending, defi platforms, and exchange-traded funds (ETFs). Gary Gensler Outlines SEC’s Crypto Priorities SEC Chairman Gary Gensler outlined the agency’s plans regarding the regulation of cryptocurrencies at the Aspen Security Forum Tuesday. He described: Right now, we just don’t have enough investor protection in crypto. Frankly, at this time, it’s more like the…

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Andrew Cuomo’s doubling down. His former aides are scratching their heads.

ALBANY, N.Y. — For the second time this year, Andrew Cuomo finds himself alone in an almost unthinkable political quagmire. And for the second time this year, Cuomo has given no signals that he will back down. Instead, he’s preparing to fight back. But unlike in March, when multiple allegations of sexual harassment first emerged, it’s now hard to see any new escape route for the governor, who is under criminal investigation and is facing almost certain impeachment in the aftermath of state Attorney General Tish James’ investigation of his…

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Cuomo faces multiple criminal investigations over sexual misconduct

NEW YORK — Gov. Andrew Cuomo is facing four potential criminal investigations over findings that he sexually harassed and inappropriately touched multiple women. District attorneys in Manhattan, Nassau County, and Westchester County said Wednesday they are reviewing evidence in the case, after the Albany County district attorney announced his own probe on Tuesday. A report by state Attorney General Letitia James found that Cuomo violated state and federal law, and documented several incidents in which he touched women without their consent. Still, legal experts said criminal charges against the governor…

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Talk of a Cuomo impeachment is about when, not if

ALBANY, N.Y. — Democrats in New York’s state Assembly clearly have the votes to impeach Gov. Andrew Cuomo — the issue for them now is deciding how the process will play out and when it might get started. “There is an intention to move as quickly as possible in this process,” Assemblymember Ken Zebrowski (D-Clarkstown) said when asked how long it might take his chamber to conclude its investigation and decide on the next steps. “There’s virtually unanimous intent to do that.” But several members of the Assembly Judiciary Committee,…

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Crypto Crime Falls in China, Surges in Hong Kong, Reports Reveal

China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions Drop, According to Chainalysis China has been a leader in the global crypto space, not only because of its control over a large portion of bitcoin’s hashrate but also in terms of activity of its…

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‘Literally losing our workforce’: Florida schools defy DeSantis’ anti-mask order

TALLAHASSEE — Florida school districts are moving to resist Gov. Ron DeSantis’ order barring schools from implementing mask requirements for kids, setting up a fight with the Republican governor who has resisted any Covid-related mandates. Late Tuesday night, school board members in Alachua County in north Florida voted to require all students to wear masks during the first two weeks of school. And Wednesday morning, Leon County, which includes Tallahassee, announced it’s seeking a mandatory mask rule for students in pre-kindergarten through eighth grade. Both are direct rejections of DeSantis’…

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FDA targets early September for approving Pfizer’s Covid-19 vaccine

The Food and Drug Administration is expected to approve Pfizer’s coronavirus vaccine by early September, amid a resurgence of cases that has heightened pressure on the administration to get more Americans vaccinated. While the agency had long eyed the fall for granting full licensure, officials have recently accelerated their work, and now hope to finalize approval in a matter of weeks, according to three people familiar with the matter. Regulators authorized Pfizer’s two-dose vaccine for emergency use last December, followed quickly by Moderna. But full approval is a higher bar…

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Poll: Biden’s approval rating falls on Covid-19 concerns

Americans’ approval of President Joe Biden’s handling of the pandemic slipped to 53 percent, while his job approval rating fell more slightly, as concerns about the U.S. Covid-19 response mounted, according to a poll released Wednesday. The poll was conducted by Quinnipiac University and surveyed attitudes about topics including Biden’s handling of Covid-19, the bipartisan infrastructure bill and the congressional investigation into the Jan. 6 Capitol insurrection. The poll, which surveyed 1,290 respondents by phone and was conducted between July 27 and Aug. 2, has a margin of sampling error…

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Millions of Latest Antminers S19i Are Ready – BitFuFu Cloud Hashrate Platform Restarts Running Plan

PRESS RELEASE. Since May 30, the BTC mining difficulty has lowered for 4 times in a row. The mining rig migration is continuing, leading to a surge of incomes in mining farms outside China. With early layout of mining farms outside China, BitFuFu takes the lead to restart running plan and restock new mining plans. As the first cloud mining platform that restarts running plan in the industry, BitFuFu provides users with a mining feast from a drop of difficulty. Early move makes BitFuFu the industry-first platform to restart running…

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Ethereum Community Gears up for the Long-Awaited London Fork Set to Go Live on August 5

The Ethereum community has been gearing up for the highly anticipated London Network Upgrade which should take place on August 5 around 2:00 p.m. (EDT). Node operators have been asked to upgrade their nodes as soon as possible, as the upgrade is scheduled to take place at block height 12,965,000. Ethereum Set to Fork on Thursday, Blockchain Will See 5 Improvements According to the countdown clock hosted on etherscan.io, the Ethereum (ETH) blockchain will be upgraded in the near future, on or around Thursday afternoon. Previously, Bitcoin.com News reported on…

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Cryptocurrency Gaining Mainstream Interest as Payment Option: Report

Cryptocurrency is gaining mainstream traction among consumers who want to use it for purchases, according to a new report. Out of more than 8,000 U.S. consumers surveyed, 93% of crypto users would make purchases with cryptocurrency in the future. Growing Number of People Want to Pay With Cryptocurrencies A new report titled “The Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option” published by Pymnts and Bitpay shows that consumers are increasingly interested in using cryptocurrencies for payments. “The report analyzes a census-balanced survey of 8,008 U.S. consumers who…

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Democrats prepare to rope GOP into political cliff dive over debt limit

Democrats are likely to pass up their best chance to avoid a standoff over the debt limit without GOP votes, a move that will thrust Congress into risky territory this fall as the threat of economic ruin approaches. There will be no language on raising or suspending the debt ceiling in the budget measure Senate Democrats expect to unveil within days to advance a $3.5 trillion spate of liberal spending plans without Republican buy-in, according to a Democratic aide close to budget talks. Instead, the party is looking to a…

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Iraq War authorization repeal clears key Senate hurdle

A key Senate committee voted on Wednesday to repeal two authorizations for the use of military force against Iraq, setting up a full chamber vote later this year. All Democrats and three Republicans on the Senate Foreign Relations Committee backed a bipartisan bill to scrap the 1991 authorization for the Gulf War and the 2002 authorization to topple Saddam Hussein’s regime in Baghdad. Both conflicts are effectively over, and U.S. troops remain in Iraq only under invitation from the government to provide security assistance and conduct counterterrorism operations. The vote…

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Top DOJ official drafted resignation email amid Trump election pressure

In early January 2021, one top Justice Department official was so concerned that then-President Donald Trump might fire his acting attorney general that he drafted an email announcing he and a second top official would resign in response. The official, Patrick Hovakimian, prepared the email announcing his own resignation and that of the department’s second-in-command, Richard Donoghue, as Trump considered axing acting attorney general Jeff Rosen. At the time, Hovakimian was an associate deputy attorney general and a senior adviser to Rosen. But Trump didn’t fire Rosen, and Hovakimian’s draft…

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Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100-Block Reorg

Reports show that the Bitcoinsv blockchain suffered from a 51% attack on Tuesday, August 3, 2021, as the founder of Blockchair, Nikita Zhavoronkov explained the network endured a 100 block reorg “wiping out 570k transactions.” Onchain Observers Witness a Deep Bitcoinsv Reorg The Bitcoinsv (BSV) network has been having issues lately following problems the protocol saw in mid-July. At that time, 78% of the network was mined by a single entity called Taal and a number of exchange providers halted services. On August 3, the founder of Blockchair, Nikita Zhavoronkov,…

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