What to Take Away Henley & Partners, a British investment migration consultancy, found that 172,300 people held crypto assets worth more than $1 million this year, 95% more than in 2023. According to the report, there were 325 crypto centi-millionaires (those with $100 million or more), a 79% increase, and 28 crypto billionaires (a 27%…
What to Take Away According to new data from the Federal Trade Commission (FTC), losses from bitcoin (BTCUSD) ATM scams reached over $110 million in 2023, a nearly tenfold increase in just three years.1 The scams are only getting worse. The Federal Trade Commission (FTC) reported that bitcoin ATM scam losses exceeded $65 million in…
What to Take Away In the midst of a broader stock sell-off, led by declines in market heavyweight Nvidia (NVDA), Bitcoin prices (BTCUSD) fell to $56,000 in the early hours of Wednesday before recovering some of those losses later in the day. Not only are investors becoming concerned about the cryptocurrency, According to Farside Investors,…
What to Take Away A weaker-than-expected employment reading may raise the possibility of a 50-basis-point cut in the influential federal funds rate, despite market participants’ expectations of a 25-basis-point decrease. The legacy cryptocurrency, which has lost around 24% since reaching its record high on March 14, could benefit from rate cuts because there aren’t any…
What to Take Away After falling to approximately $52,600 on Friday, the cryptocurrency traded above $56,000 on Monday afternoon. Its price is still below its Wednesday level of nearly $58,000. Stocks in the cryptocurrency industry have been affected by the changes. By Monday afternoon, shares of the cryptocurrency exchange operator Coinbase had increased by 4%,…
What to Take Away After the debate, most prediction markets said that Vice President Kamala Harris would win, with Polymarket still saying that former President Donald Trump would win and PredictIt saying that Harris would win. The two of them argued for more than ninety minutes about the economy, immigration, abortion, the cost of living,…
What to Take Away Rates reached a 23-year high as a result of the Fed’s long-term effort to combat inflation. The first cut of this cycle on Wednesday raised bitcoin prices by boosting investor confidence. FXTM Senior Market Analyst Lukman Otunuga said that the Fed cutting rates “may be a welcome development for bitcoin bulls.”…
What to Take Away A new report from digital asset data provider CCData says that stablecoin issuers could see a $625 million drop in total annual interest income for every 50 basis point cut by the Fed.1 These hits could quickly add up, as the Fed expects cuts totaling 50 basis points by the end…
What to Take Away Monday morning, Bitcoin (BTC) lost ground, reversing some of the gains made during a positive month for the legacy cryptocurrency. The Federal Reserve’s first interest rate cut in four years and China’s announcement of extensive economic stimulus measures have contributed to gains in recent weeks. Notwithstanding Monday’s decay, bitcoin is still…
What to Take Away To launch a spot XRP exchange-traded fund (ETF) that would provide investors with direct exposure to Ripple Labs’ XRP (XRPUSD) crypto token, crypto index fund manager Bitwise submitted an S-1 registration statement to the Securities and Exchange Commission (SEC) on Wednesday. Contrary to previous assertions made by the SEC, Bitwise made…
