Author: Coindesk
Bitcoin (BTC) traded near $64,000 early Monday, briefly hitting $65,000 over the weekend boosted by Federal Reserve Chair Jerome Powell’s dovish remarks at the Jackson Hole symposium. On Friday, Powell signaled that an interest rate cut might be coming in September. Solana (SOL) showed relative strength among crypto majors, up 3% over the past 24 hours, shrugging off diminishing odds of a SOL-based spot ETF in the U.S. The broad-market benchmark CoinDesk 20 advanced 0.6% during the same period. The recovery of crypto prices was supported by a strong stablecoin expansion, with $1 billion of tokens minted at a 7-day…
“Actual introduction of CBDC can be phased in gradually,” Das said. “It is important to emphasize that there should not be in any rush to roll out system-wide CBDC before one acquires a comprehensive understanding of its impact on users, on monetary policy, on the financial system and on the economy.” Read the full article here
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Major tokens jumped through Saturday, but registered slight losses in the past 24 hours. Ether (ETH) traded just over $2,700, while Solana’s SOL and xrp (XRP) were changing hands at $158 and 58 cents, respectively. Meanwhile, while Tron’s TRX jumped 3% as an ongoing memecoin frenzy continues to add demand for the token. Read the full article here
Hong Kong’s Securities and Futures Commission (SFC) has found “unsatisfactory practices” at “some” of the cryptocurrency exchanges seeking a full license from it after conducting on-site inspections, Bloomberg reported on Thursday citing people familiar with the situation. Read the full article here
“After news appeared in the media about the detention of P.V. Durov, we immediately requested clarification from the French authorities regarding the reasons and demanded the protection of his rights and the provision of consular access. As of today, the French side has so far avoided cooperation on this issue,” the Russian embassy in France said in a statement. Read the full article here
The warrant for his arrest stems from a criminal complaint by OFIM, an office of the French national police formed in November 2023, which considers Durov complicit because of Telegram’s lack of moderation, in drug trafficking, distribution of child sexual abuse material (CSAM), and fraud due to Telegram’s lack of moderation and cooperation with law enforcement, according to French network TF1. Read the full article here
Robert Kennedy Jr. has suspended his independent pursuit of the U.S. presidency and encouraged his supporters to instead back former President Donald Trump in battleground states, putting the weight of the Kennedy name behind the GOP candidate. Read the full article here
Already higher by about 3% on the Fed news, bitcoin (BTC) rose further following the Kennedy announcement, trading at $63,800 at press time, or up 5.6% over the past 24 hours. The broader CoinDesk 20 Index was up 4.7% over the same time frame, with ether (ETH), tezos {{XTX}} and solana (SOL) among the tokens posting 5% or more gains. Read the full article here
I mean, first of all, politicians aren’t investment advisors and their words shouldn’t be treated as investment advice. But what does this “real economy” mean? Is a government bond part of the real economy, if that money is going to pay off debt from government spending during, say, COVID? Is that real? Is investing in Coca-Cola or Raytheon, investing in the real economy? Or are we really just investing in sugary drinks and missiles that do a lot more harm to kids than Ethereum does? Did mortgage-backed securities, pumped by a cocktail of explicit and implicit government guarantees and regulatory…