Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions. Despite the Chinese government banning all kinds of cryptocurrency transactions last year, some firms apparently still use stablecoins like Tether (USDT) to pay their employees. Beijing’s Chaoyang District People’s Court has…
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BTC/USD falls $1,000 while spot gold gives up 2% as USD strength intensifies, beating the year’s previous peaks. Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView USD sets yet another 20-year record Data from Cointelegraph…
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The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has…
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The holiday weekend is making everyone nervous as BTC price action hovers at $19,000. Bitcoin (BTC) starts a new week still in holiday mode with United States financial markets off for Independence Day. The largest cryptocurrency, stuck below the increasingly daunting $20,000 mark, continues to feel the pressure from the macro environment as talk of…
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Coincoinx, a cryptocurrency exchange, will reportedly launch a service that will allow users to skip trading crypto for fiat to make payments in Venezuela. The service, which is called Coinpago, will allow users to make payments in every store and retailer in the country that accepts Pagomovil, a banking service that allows seamless fiat transfers…
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Bitcoin price action will seal monthly losses over 40% for the first time in 11 years if it closes at $19,000. Bitcoin (BTC) drifted further downhill into the June 30 Wall Street open as United States equities opened with a whimper. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. dollar returns to multi-decade highs Data…
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The shocking Bitcoin withdrawals appeared as BTC’s extended its decline below $20,000 over the weekend. Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund’s holdings dropped…
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Citing an insider scoop, Autism Capital claimed that Abracadabra accrued $12 million in bad debt as a direct result of Terra’s sudden downfall, which has been refuted by founder Daniele Sestagalli. Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an…
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Global financial markets and crypto sold off after June 10’s 8.6% CPI print showed inflation remains a persistent challenge. Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted…
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Crypto advocates often refer to Bitcoin as “digital gold,” but how does BTC stack up against gold as a long-term investment? The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value…
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