Why is the crypto market down today?

August 28, 2024
The Last Cryptocurency
Cointelegraph Feed
Cointelegraph Feed

The cryptocurrency market’s growing correlation with the Nasdaq 100 hinders bullish prospects as the month draws to a close.

"Explain This Bob," the popular AI-powered Twitter account also linked to a memecoin, was suspended shortly after Elon Musk alleged it was a "scam." 410 Total views 4 Total shares Twitter has suspended the account of the popular memecoin-linked artificial intelligence-powered bot “Explain This Bob” after Elon Musk alleged it was a “scam crypto account.”Musk…

Cosmos Hub postpones vote date following white paper revision

A revised vision of the Cosmos Hub is now expected to be on chain for voting on Oct. 31, after being originally scheduled for Oct. 3. 66 Total views 1 Total shares An updated version of the Cosmos Hub white paper went live on October 29, with the community now set to vote on the document. According…

US officials seize $6.1M in crypto from ransomware actors, adds Chatex to sanctions list

The United States Department of the Treasury has announced it will impose sanctions on the cryptocurrency exchange Chatex and its support network for allegedly facilitating transactions for ransomware actors.In an advisory update issued on Nov. 8, the Treasury Department Office of Foreign Assets Control, or OFAC, added Chatex as well as IZIBITS OU, Chatextech SIA,…

China: Guangdong Province to Use Blockchain-Based Electronic Tax Invoices for E-Commerce

The Guangdong Municipal Taxation Bureau will implement an electronic invoice platform based on blockchain for the e-commerce industry, local Chinese news outlet Southern News Network reported on Feb. 18.Guangdong Province, one the most populated region in China, has opened the first blockchain electronic invoice service for customers and merchants, planning to extend their experience to…

BIS consultative group proposes retail CBDC architecture

According to a BIS report, Jamaica, Nigeria, China, Sweden, the Bahamas, and Peru have CBDC programs in various stages of development.

Crypto-friendly bank ends loans backed by crypto mining rigs

After a bullish 2021 crypto miners sought out loans to allow them to expand, a move which has since backfired following difficult market conditions in 2022. 370 Total views 1 Total shares Own this piece of history Collect this article as an NFTThe holding company for the crypto-friendly bank, BankProv, has revealed it’s no longer…

Dash Surges by Over 16% as Bitcoin Price Hovers At $8,100

Sunday, Jan. 12 — most of the top cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) hovers around the $8,100 mark again.Market visualization courtesy of Coin360Among the top cryptocurrencies, the one that has seen the most growth over the last 24 hours is DASH, which was up by around…

Trust in stablecoins ‘infinitely more important’ than collateral

As the debate over the trustworthiness of stablecoins intensifies due to Terra, one expert thinks builders should push for the coins to be decentralized with a clear use case. 405 Total views 2 Total shares In light of recent market effects due to the collapse of the Terra USD (UST) stablecoin, several questions should be…

South Korean lawmaker: Delaying tax laws on crypto is ‘inevitable’

“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae. 371 Total views 1 Total shares Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans…

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