Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Nayib Bukele wins the presidential elections in El Salvador, the Brazilian tax authority finds over 25,000 irregularities in crypto tax statements, and Argentine President Javier Milei warns there will be no dollarization this…
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Asset manager BlackRock may boost its Bitcoin exposure in the future. That’s according to Rick Rieder, head of global allocation at BlackRock, who is responsible for about $2.4t in assets at the investment firm. In an upcoming episode of the Wall Street Journal’s Take On the Week podcast, Rieder mentioned that his funds at BlackRock…
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New Zealand’s central bank governor, Adrian Orr, raised concerns about the stability of cryptocurrencies, particularly stablecoins, during a parliamentary committee meeting on Monday. He criticized these tokens as “misnomers” and “oxymorons,” highlighting their vulnerability to traditional financial turmoil and potential to disrupt real-world markets, Bloomberg reported. Stablecoins are designed to maintain a consistent value, often…
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Swiss cryptocurrency custody firm Metaco’s CEO Adrien Treccani and chief product officer Peter DeMeo have left the company, according to a CoinDesk report. In the meantime, no acting CEO has been named. During press time a Metaco spokesperson was unavailable to comment further on the report. Ripple Acquired Metaco for $250M Ripple acquired the Switzerland-based…
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The Russian Central Bank claimed “almost all” the financial scams it found last year had crypto-related elements. In an official release, the bank wrote that there had been a year-on-year rise of almost 16% in financial scams in 2023. In “almost” every case, the bank said it had detected a crypto “theme.” Russian Central Bank:…
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Ethereum has shed a significant part of its supply since the London upgrade, applied in August 2021. According to ultrasound.money, a portal that records several statistics associated with the ETH burn, over 4 million ether (3.2%) have been removed from the network since the adoption of EIP-1559, which changed how fees are calculated. EIP-1559 Burns…
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Since the conclusion of the spot bitcoin exchange-traded fund (ETF) trading sessions on Feb. 9, 2024, the nine freshly launched ETFs have amassed 6,009.49 bitcoin, valued at approximately $288 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC), which evolved into a publicly-traded exchange-traded product, has sold off about 2,252.2 bitcoin, amounting to roughly $108 million. New Bitcoin…
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FTX Trading Ltd. and its affiliates have announced a plan to sell a subsidiary it acquired for $10 million to Coinlist for $500,000, court documents filed on Feb. 9, 2024 show. The latest motion, filed in the United States Bankruptcy Court for the District of Delaware, details the proposed sale in order to maximize the…
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Bitcoin Price Prediction On Sunday, Bitcoin price prediction remains bullish with exchange-traded funds (ETFs) recently reaching an impressive $10 billion in assets under management after just 20 sessions. This significant achievement is bolstered by data from BitMEX Research, which highlights a robust $2.7 billion net flow into nine ETFs. Leading the charge is BlackRock’s IBIT…
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Following a wave of cryptocurrency ads securing airtime for promotions during the 2022 Super Bowl, the subsequent year witnessed an absence of crypto entities airing commercials in the event. The trend is set to continue into 2024, as highlighted by a recent analysis on the subject. Although several firms launched commercials for exchange-traded funds (ETFs),…
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