NFT Marketplace Magic Eden Revamps Token Strategy with ME Token Launch
Magic Eden announced plans to launch the ME token through the rebranded ME Foundation.
Crypto Hacks Lead to Long-Term Price Declines, Immunefi Report Reveals
According to a recent security report, most cryptocurrencies struggle to recover in value following hacks.
Bitcoin Spot ETFs See Fifth Day of Net Inflows
U.S. spot Bitcoin ETFs attracted $39.5 million on Wednesday, showing robust demand for these ETFs despite market uncertainty.
Singapore July core inflation 2.5% y/y, lowest in more than two years
Singapore's key consumer price gauge rose 2.5% in July from a year earlier, the smallest increase since February 2022, official data showed on Friday. The core inflation rate - which excludes private road transport and accommodation costs - was lower than a 2.9% forecast in a Reuters poll, and compared with the 2.9% seen in June. Headline inflation in February was up 2.4% from the same month last year, lower than the 2.5% forecast in the poll.
US ambassador to Mexico calls proposed judicial overhaul a democracy 'risk' and economic threat
U.S. Ambassador Ken Salazar said Thursday a judicial overhaul proposed by Mexican President Andrés Manuel López Obrador poses a “risk" to Mexico's democracy and "threatens the historic commercial relationship” between Mexico and the U.S. The proposal, including a provision to require judges be elected, has spurred a fierce outcry from investors and financial institutions in recent days, with the Mexican peso steadily dropping in currency markets. “Democracies can't function without a strong, independent and non-corrupt judicial branch,” Salazar told reporters.
Tokyo inflation seen unchanged in August, snapping 3-month acceleration: Reuters poll
Consumer price inflation is expected to stay unchanged in Japan's capital Tokyo in August, ending three months of acceleration, a Reuters poll showed, suggesting the central bank may not be in a rush to hike rates. The same poll also found factory output probably rebounded and retail sales kept growing in July, underscoring the strength of Japan's economy after better-than-expected April-June gross domestic product data last week. Moderation in the Tokyo core CPI, the leading indicator of nationwide inflation trends, could cool hawkish views for the Bank of Japan's monetary normalisation schedule after the central bank raised its short-term policy rate to 0.25% in July.
Sony, Electronics Pioneer Behind Walkman, Starts Own Blockchain 'Soneium'
The new project, "Soneium" will be a layer-2 network atop the Ethereum blockchain, using technology from Optimism's OP Stack.
Aussie regulator wins case against Kraken crypto exchange operator on distribution flaws
Bit Trade Pty is the operator of the Kraken crypto exchange, one of world's largest cryptocurrency exchanges, in Australia. In September 2023, the Australian Securities and Investments Commission (ASIC) initiated civil proceedings against Bit Trade alleging that Bit Trade, a subsidiary of U.S. Payward Incorporated, failed to make a target market determination for the product before offering it to customers, despite being notified of concerns.
If Jerome Powell Signals Rate Cuts On Friday, What Does That Mean For Crypto?
After more than two and a half years of aggressive monetary tightening, U.S. Federal Reserve Chairman Jerome Powell is widely expected to indicate an impending shift towards easing monetary policy. What Happened: Powell's highly anticipated keynote address at the Kansas City Fed’s Jackson Hole Economic Symposium is scheduled for Friday at 10 a.m. ET, and this event has historically been used by Fed chairs, including Powell, to signal significant changes in central bank policy, Coindesk reported.
R.I.P. Unhosted Wallet Rule
The 2020 FinCEN unhosted wallet proposal has arguably been dead for years, but now it's official.