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Bank of Jamaica: Locals Show Little Interest in State Digital Currency

The National Commercial Bank of Jamaica (NCB) reported low interest among users in the Bank of Jamaica’s digital currency, JAM-DEX, despite its availability through the Lynk digital wallet. NCB CEO Bruce Bowen noted that while the Lynk app has seen high adoption rates, customers remain hesitant to use the CBDC.

Bowen questioned whether efforts should focus on overcoming this resistance or on developing a broader payment ecosystem. He also criticized other local banks for not offering wallets for the CBDC, highlighting delays in launching such services.

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Taiwan Accuses China of Using Crypto to Pay Spies

Taiwan’s Ministry of Justice claims that Chinese intelligence used cryptocurrency to pay Taiwanese military personnel involved in a major espionage case. Eight individuals, including current and former military members, were convicted of gathering state secrets for China and sentenced to up to 13 years in prison. Taiwanese authorities stated that the spies received over 2 million TWD ($63,000) in virtual currencies from China.

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Wyoming to Launch State-Backed Stablecoin Pegged to US Dollar

Wyoming's Governor, Mark Gordon, announced plans to launch a state-backed stablecoin pegged to the US dollar next year.

Speaking at a local blockchain symposium, Gordon criticized the Federal Reserve for its lack of flexibility towards cryptocurrencies and expressed his desire to make Wyoming the first state to issue its own stablecoin. The token will be backed by US Treasury bills and repurchase agreements.

Gordon believes this move will boost the state's economy and reinforce Wyoming's reputation as a leader in digital asset regulation.

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Germany Seizes 13 Illegal Bitcoin ATMs

German regulators, BaFin, conducted a raid across major cities, seizing 13 unlicensed Bitcoin ATMs. The machines were operating without proper authorization, violating banking laws and raising concerns over money laundering risks. Authorities also confiscated nearly €25 million in cash, and the operators now face up to five years in prison.

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AIBC East Europe Conference to Take Place in Budapest This September

The AIBC East Europe conference on blockchain and decentralized technologies will be held in Budapest from September 2-6 at the Hungaro Expo.
Co-hosted with Affiliate World, the event is expected to attract over 9,000 delegates. The agenda includes discussions on digital banking, Web3 marketing strategies, blockchain gaming in esports, and the impact of EDIHS networks on digital transformation.

Networking events and a closing party will also be featured. Affiliate World will run concurrently on September 5-6 with an expected 5,000 participants.

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Co-Founder of FutureNet Crypto Scheme Arrested in Montenegro

Montenegrin police have arrested Roman Ziemian, co-founder of the fraudulent crypto scheme FutureNet, which caused losses estimated at $21 million. Ziemian, living under a false identity in Podgorica, is wanted by South Korea and Poland for fraud, theft, and money laundering. He faces life imprisonment in South Korea. The High Court in Podgorica will decide on his extradition. FutureNet, launched in 2018, was marketed as a multi-level marketing business but has since been exposed as a financial pyramid scheme.

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I recently came across rumors about TapSwap.
They say the project is preparing something more than just a standard TGE. The team is reportedly working on significant utility token updates.

Of course, this could all be just speculation, but with so much talk, there might be something to it.

Amid scandals surrounding other projects, TapSwap seems to have a more mature approach. It doesn’t appear to be focused on handing out unrealistic airdrops, but rather on genuinely providing value to its community.

Rumors suggest that participating in the project could earn around $34.62 per month. Over six months, this could add up to $207.72. Considering there will be five activities, we’re talking about $1,036.

Additionally, there’s talk of a 1.65x booster for the upcoming airdrop, which sounds quite tempting.

However, I want to emphasize that all this information is just rumors. There are no official details yet, so it’s important to approach this wisely.

What do you think of these developments?

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China Declares Crypto Transactions as Money Laundering

China’s top judicial bodies have classified cryptocurrency transactions as illegal and a form of money laundering. Large-scale offenses may lead to severe penalties, including prison sentences and heavy fines, as part of China’s crackdown on illegal financial activities.

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Trump Vows to Block Digital Dollar

U.S. presidential candidate Donald Trump pledged to block any efforts by the Federal Reserve to introduce a digital dollar, warning that it could increase government control over financial transactions and threaten the banking sector.

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Robert Kiyosaki: It’s Time to Save Yourself and Buy More Bitcoin

Robert Kiyosaki, the author of Rich Dad Poor Dad, warns that the U.S. Federal Reserve is a threat to the financial market. He urges people to stop relying on the Fed and instead invest in gold, silver, and Bitcoin as protection against market crashes and financial manipulation.

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Vitalik Buterin Donates 200 ETH to Animal Welfare Fund

Vitalik Buterin, Ethereum’s co-founder, donated 200 ETH (worth $524,320) to the Animal Welfare Fund. The funds came from meme coins themed around animals that Buterin received over the past year. He believes these tokens are better used for charitable causes.

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Norway’s Sovereign Wealth Fund Increases Bitcoin Holdings

Norway’s Sovereign Wealth Fund, managed by Norges Bank Investment Management, has expanded its Bitcoin exposure through investments in companies linked to the crypto market. The fund now indirectly holds 2,446 BTC, up by 938 BTC since December 2023.
This increase represents a 62% growth in Bitcoin holdings, equating to around $27 per citizen. Experts suggest this growth is likely due to diversification strategies rather than a deliberate move to accumulate Bitcoin.

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Franklin Templeton Plans Crypto Index ETF

Franklin Templeton has filed for a spot crypto index ETF, aiming to invest in Bitcoin and Ethereum. The Franklin Crypto Index ETF will track the CF Institutional Digital Asset Index, marking one of the first index-based crypto ETFs in the market.

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New Virus Styx Stealer Targets Cryptocurrency Wallets

Security experts from Check Point Research have uncovered a new virus, Styx Stealer, that steals user data, including cryptocurrency wallet addresses and passwords. The virus exploits a vulnerability in Windows Defender but is ineffective on systems with up-to-date software.

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Donald Trump’s crypto wallets hold over $1 million.

Despite once calling digital assets a scam, Trump now owns between $1 million and $5 million in cryptocurrencies, according to his financial report. This shift comes as he campaigns for the U.S. presidency, promising to make America the global crypto capital.

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South Korea’s Pension Fund Buys Bitcoin

South Korea’s National Pension Service (NPS) invested $33.7M in MicroStrategy shares and also bought shares in Coinbase. NPS sees long-term value in crypto investments, with its portfolio reaching over $87B, a record for five consecutive quarters.

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Binance Resumes Operations in India

On August 15, Binance announced it has resumed services in India after a seven-month hiatus. The exchange is now fully compliant with local regulations, following registration with India’s Financial Intelligence Unit. Despite challenges from the Reserve Bank of India and strict tax policies, Binance aims to tap into India’s digital asset market. Recently, the company faced a $86 million tax claim from Indian authorities.

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IMF Calls for Higher Electricity Tariffs for Miners

The International Monetary Fund recommends raising electricity tariffs for cryptocurrency miners worldwide. They believe this will help reduce carbon emissions by 100 million tons annually. The IMF also proposes a tax on energy use in AI data centers.

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ANALYSIS BTC/USDT Bitcoin has recently broken below the horizontal demand zone of a descending triangle pattern, signaling a potential shift in market sentiment. It is currently in the process of retesting the lower boundary of the triangle.

If the retest of the triangle's boundary confirms this bearish bias, we could see a continuation of the decline, potentially leading to a significant drop in price.

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Iran Offers $24 Bounty for Reporting Illegal Crypto Miners

Iran is stepping up efforts to combat illegal crypto mining by offering a $24 reward to anyone who reports unauthorized mining activities.

The move comes as the country faces severe power shortages during a scorching heatwave, with temperatures reaching 113°F. Iran’s state-run electricity company, Tavanir, has blamed these illicit operations for straining the already overburdened power grid. Authorities have already seized 230,000 illegal mining rigs, which consumed enough power to supply a province of 1.4 million people.

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Robinhood Suspends 24/7 Services Amid Market Turbulence

Robinhood has limited its service hours, suspending 24/7 trading due to stock and crypto market volatility. Independent traders on social media reported the change, speculating it aims to curb spontaneous trading during market instability. Robinhood has not yet commented.

The suspension coincided with a sharp sell-off in global markets, including a significant drop in Japanese stock indices and a decline in major cryptocurrencies.

Bitcoin fell below $50,000, and Ethereum dropped to $2,240, leading to a decrease in the total crypto market cap to $1.76 trillion.

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Justin Sun Creates $1 Billion Fund to Support Crypto Market.

Justin Sun, advisor at HTX and founder of TRON, announced a $1 billion fund to support the digital assets industry. He refuted rumors about liquidating his USDT positions and urged the market not to worry about recent crypto price drops.

Sun emphasized that market fluctuations are not due to negative news and called for continued infrastructure development and liquidity support. He clarified that his team rarely engages in leveraged trading, focusing instead on supporting entrepreneurs through staking and liquidity provision.

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Bitcoin-hater Peter Schiff believes this is just the beginning. Soon the stock market will open, and panicking ETF holders will start selling.

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BTC - $49k. A billion dollars in liquidations.

Trump Blames Biden and Harris for Stock Market Crash.

“The stock markets are crashing. I told you so! Kamala understands nothing. Biden is sound asleep. It’s all due to incompetent U.S. leadership!”

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OpenAI has introduced a new version of the voice AI assistant GPT-4o

BTC is now below $58k, with a 15.7% drop in the past week

Many altcoins are currently cheaper than during the bear market of ’22-’23.

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Michaël van de Poppe: "If There’s No Major Market Dip, a Party Will Start"

The director and founder of MN Trading, Michaël van de Poppe, stated that Ether is currently at a critical support level of я.

He believes that if the market avoids a significant dip in the prices of Ether and Bitcoin, investors will benefit. However, if Ether falls below $2800, it could have serious consequences for the entire crypto market.

He noted that large holders have sold $1.87 billion worth of Ether in the last three days. Despite this, Ether has the advantage of ETH-ETF. If capital flows into these funds resume, Ether’s price could exceed $3110.

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The Evolution of SpaceX Rocket Engines

#technology

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Warren Buffett sold Apple shares for a record $76 billion

This accounts for 49% of the shares in his portfolio, and cash on his company Berkshire Hathaway’s balance sheet has risen to $277 billion – a record high.

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Coinbase’s ‘Solid’ Q2 Earnings Face Challenges from Low Volume and Fed Headwinds

Coinbase reported better-than-expected Q2 earnings with a total revenue of $1.45 billion, but transaction fee revenue fell by 27% due to lower trading volumes. Analysts characterized the earnings as solid but warned that revenue could decline further in Q3 if the trend continues.

The company remains optimistic about its other ventures, such as derivatives products and the Coinbase Wallet, despite expected high operating expenses and potential Federal Reserve interest rate cuts impacting performance.

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BTC is below 61K again

The USA, UK, and Canada are urging their citizens to leave Lebanon on “any available” flight. Those who choose to stay are advised to be prepared for a prolonged stay in shelters. Sweden is temporarily closing its embassy in Beirut.

The situation continues to escalate: Israel has conducted an airstrike, killing another Hamas commander and 4 Islamic Jihad fighters, according to Reuters.

Interesting times…

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