#trading

Carlyle Group co-founder David Rubenstein, in an interview with Bloomberg, expressed his regret for missing the opportunity to invest in Bitcoin when a single coin was worth just $100. Not one to dwell on past mistakes, David's currently pouring capital into companies making crypto trading accessible for everyone. Sound familiar? David's story echoes in many of us.

Following a probe by the Twitter user OnchainPenguin, a dubious $9.5 million transaction was tied to a fresh acquisition proposal. The inflow to Hodlnaut's wallet was 2221 times higher than the average. Insights from OnchainPenguin pinpoint this account as the source of rewards to OPNX’s leadership. It seems that Hodlnaut's funds were in some way supporting OPNX's functional outlays,and the trading platform's chiefs might be on a mission to save the virtual currencies FLEX and OX. There's a looming risk that these tokens could nosedive in value if Hodlnaut opts to liquidate its possessions to repay its lenders.

Kaiko Research’s data highlights reduced engagement in prominent tokens: “AXS, the governance token of the Axie Infinity ecosystem is down more than 90% since early 2022 and SAND, MANA and GALA tokens have seen a a similar drop in value.” Analysts point out that monetary incentives were a primary motivator for users, but these platforms faced challenges in maintaining their user base due to diminishing in-game rewards.

X (Twitter) is actively seeking a financial-data giant to collaborate on building a trading hub within its app. The request for plans emphasizes the importance of real-time information, particularly in the realm of investing. The company aims to offer financial content, real-time stock data, and other related features to enhance user experience. Reminding that Elon Musk envisions the platform as a Western super-app akin to WeChat in China, Gojek in Indonesia, Grab in Singapore, and Gozem in Africa. Such super-apps integrate various consumer services like food delivery, ride-hailing, payments, investing, and identity authentication into a single app, providing a comprehensive user experience.

The US Consumer Price Index, which measures inflation, is set to be unveiled at 12:30 pm UTC. Current index level: 3.0% Forecast: 3.3%, marking a 0.3% CPI increase Discover more about the CPI in our article. Stay vigilant during potential market swings and approach trading wisely! UPD: The rate of inflation in the United States has risen to 3.2%, a bit under the forecasted amount.

The purpose of this program is to impose restrictions on certain cryptocurrency-related activities and create a more level playing field for banks involved in serving the digital asset industry. It which aims to ensure consistency in crypto-related regulations for all banks under Federal Reserve supervision. The activities that fall under the purview include custody, lending, trading, issuance, and distribution of crypto, including stablecoins.

The largest copycat token was launched shortly after the news and managed to amass a trading volume of $2.6 million within just eight hours, experiencing an astonishing surge of 12,000%. However, its price has since significantly dropped. Another noteworthy token, going by the name PepeYieldUnibotSatoshiDoge, also exhibited remarkable growth of 3,000%. Most of these fake PYUSD tokens are probably created as "honeypots."

As Elon Musk occupies himself with the Twitter rebrand, the crypto community is enthusiastically trading tokens that bear association with the well-known platform only through its former name. The TwitterDAO (TWITTER) token is presently priced at $0.0001, despite a rocky start.This rise is attributed to the automatic system's verification and contract audit. Yet, it's vital to bear in mind that such tokens often morph into money-making tools for fraudsters, leading to a total wipeout of the assets belonging to external investors. The recent situation with BALD serves as a stark reminder of this risk.

During its second-quarter 2023 earnings call on August 3, Coinbase’s Chief Legal Officer, Paul Grewal, expressed confidence that the exchange would win the court case, stating, “We do think we can win. We expect to win.” In terms of their financial performance: Coinbase reported a net loss of $97 million on $708 million in revenue for the second quarter of 2023. Trading volume fell by 37%, and operating expenses were down nearly 50% year over year, partly due to a 30% reduction in headcount.

Both Coinbase and the SEC have denied reports claiming that the regulator requested the exchange to halt trading in all cryptocurrencies other than Bitcoin. A Coinbase spokesperson has clarified to Blockworks that the supposed recommendation was an inaccurate representation of the facts. The interview published by the Financial Times earlier lacks important context regarding the conversations between Coinbase and the SEC.