The $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece. Solana-based algorithmic stablecoin NIRV has become the latest stablecoin to fail, after dropping 85% from its dollar peg following a hack on adaptive yield protocol Nirvana Finance on Wednesday. The flash…
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After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to…
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A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the…
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Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs.…
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Most of the activity on the Bitcoin (BTC) network now happens during European and US business hours, with a notable drop in the share of activity happening during Asian hours, a new report from the crypto analytics firm Coin Metrics has found. Judging from the findings in the report, use of the Bitcoin network in…
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Crypto critic Elizabeth Warren and two colleagues write to the Fidelity CEO again to express their displeasure with crypto-exposed 401(k) offerings. Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely…
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The Conservative Party is expected to decide between Rishi Sunak and LizaTruss as the next party leader by Sept. 5, at which point Johnson will officially step down Rishi Sunak, the former chancellor of the Exchequer, and Liz Truss, Secretary of State for Foreign, Commonwealth and Development Affairs, two of the final candidates to become…
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Ethereum network developers confirmed September as the date of the upcoming Merge, a move which prompted traders to flip long on ETH. Ether’s (ETH) 53% rally between July 13 and 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “Merge,”…
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BTC price surged above a key resistance cluster, but its market structure and technical analysis suggest the move is just another trap. Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near 10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down…
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“Industry shouldn’t be allowed to write the rules that they want to play by,” said Senator Sherrod Brown in calling for U.S. lawmakers and regulators to address crypto scams. Senator Sherrod Brown, chair of the Senate Banking Committee, has penned letters to the CEOs of Google’s parent company Alphabet and Apple calling for the tech…
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