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2022-09-01 05:09:02 JPMorgan Strategist Advises Investors to Sell Bitcoin, Crypto After Fed’s Hawkish Stance

After a short-lived reprieve from June lows, the crypto market neared crucial support levels on Fed’s hawkish chorus. With the US Federal Reserve firming up its ante against inflation and dismissing discussions about any softening of monetary policy. JPMorgan’s chief global strategist, David Kelly, has made some suggestions for crypto investors concerned about the direction of the market.

After Powell stressed that interest rates may have to stay elevated to curtail inflation in his latest speech, Bitcoin briefly plunged below $20,000 for the first time since mid-July, as risk appetite faltered. According to Kelly, investors should now steer clear of large-cap tech stocks, Bitcoin, and crypto in general. He expects more volatility to seep in and a high risk of a recession. Many experts are of the opinion that risky assets will continue to struggle as Powell tackles inflation.

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2022-08-31 10:30:44 Breaking: Aave Stops Ethereum (ETH) Borrowing Ahead Of The Merge
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2022-08-31 04:17:02 Web3 Platforms Brace Themselves for Impending Ethereum Merge

Several Web3 platforms operating on the Ethereum blockchain have announced contingency plans ahead of the anticipated Merge next month. After years of development and community support, Ethereum will finally transition from the proof-of-work (PoW) validation mechanism.

Following countless trials, the blockchain will merge next month with the Beacon Chain, after which it will operate using the proof-of-stake method. Under the proof-of-stake method, crypto investors stake a certain amount of their crypto on the shared network, rather than using industrial amounts of commuting power to effectively generate more cryptocurrency. Supporting the network in this way enfranchises stakers with participation.

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2022-08-30 09:53:02 5,000 BTC from Satoshi-Era Wallet Moved, 3 More Wallets Await to Send Bitcoin

Chinese crypto journalist and blogger Colin Wu, who covers everything to do with cryptocurrencies, blockchain and regulation, has shared that a wallet that had stayed dormant for almost nine years moved its entire contents of slightly over 5,000 BTC to a new wallet. At the present exchange rate, this amount of crypto comprises $101,269,500. Wu obtained this data from Bitinforcharts website and shared a link in his tweet.

Over the past few years, dormant wallets have been awakening after being "asleep" for 7-10 years. Some of these wallets were set up when the mysterious Bitcoin creator Satoshi Nakamoto was still around after launching Bitcoin. As covered by U.Today, earlier this month, on Aug. 2, a total of 1,110 BTC were moved from an anonymous wallet that had stayed dormant for eight years. Wu also tweeted that there are three other BTC addresses of the same origin.

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2022-08-29 16:41:13 Win $100k With Tamadoge- The Ultimate Memecoin & Play-to-Earn Platform

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2022-08-29 04:51:02 Half of Americans investing in crypto say it has done worse than expected

Almost half of Americans who have invested in cryptocurrency say it’s done worse that they expected, according to research published by Pew Research Center. Cryptocurrency market turmoil has diminished many of the investments. Just 15% say their investments have done better than expected and 31% say that it has been about what they expected.

Around 16% of US adults have invested in, traded and used cryptocurrency. The survey, which was conducted July 5-17, also notes that the overall share of US adults purchasing crypto hasn’t changed since September 2021, despite heightened media coverage. Those who do invest say they want a different way to invest (78%), they think it is a good way to make money (75%) or it is easier to get into than other ways to invest (54%). Almost four in 10 are more confident in cryptocurrencies than other investments.

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2022-08-28 04:44:02 3AC Co-Founder Concerned About Facing Prison Time

Su Zhu – one of the Founders of the distressed crypto hedge fund Three Arrows Capital (3AC) – is reportedly worried about fronting severe law punishment. Specifically, the Singaporean said he, Kyle Davies, and other executives could face “fines and imprisonment” for being in charge of the troubled company. At the end of June, a court in the British Virgin Islands ordered 3AC into liquidation.

According to a recent Bloomberg report, Zhu delivered his affidavit in person in Thailand several weeks ago. In it, he claimed he is concerned about “the potentially draconian consequences arising from the Liquidators’ exercise of their wide powers.” The executive is worried that there is a real chance he and some other managers at the organization will go behind bars. The advisory firm appointed by a court in the British Virgin Islands to liquidate 3AC’s assets.

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2022-08-27 11:41:02 Ethereum Developers Raise Concerns Ahead of Highly Anticipated Merge

Some Ethereum developers have been expressing concerns about the network’s upcoming ‘Merge,’ a transition from proof of work to proof of stake consensus. Péter Szilágyi, a Team Lead at an open-source platform, Ethereum, pointed out a bug in the Geth 1.10.22, Go Ethereum’s latest update, that can “causes the trie/state to go bad.”

An Ethereum Core Developer at Ethereum research and engineering company Nethermind Daniel C shared that their team had similar issues, and that’s why they went into “a strict stabilization phase” before the Merge, which means “only fixes to the master branch” are being merged right now. The open-source project Go Ethereum, run by Ethereum developers on GitHub, has been updating the community and communicating issues the network might be experiencing.

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