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On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar’s value. A New collateral-Backed Stablecoin Crafted by Aave Companies Is Due to Launch After the Aave DAO Votes on Genesis Parameters Aave explained on Sunday that the Aave decentralized autonomous organization (DAO) approved a proposal to create a stablecoin token called “GHO.” “The community has given the green light for GHO,” the official Aave Twitter account detailed . “The next step is voting on the genesis parameters of GHO, look out for a proposal next week on the governance forum.” The GHO introductory blog post , published on July 7, 2022, says the stablecoin will be “backed by a diversified set of crypto-assets chosen at the users’ discretion, while borrowers continue earning interest on their un...

Her Majesty’s High Court of Justice in England has determined that the Venezuelan gold stored in the vaults of the Bank of England must be managed by officials of the Central bank of Venezuela designated by opposition leader Juan Guaido. The management of this gold stash, which is comprised of 31 tonnes of this precious metal, is in dispute since 2019 when Guaido asked the Bank of England to freeze these assets in order to avoid a possible sale. London High Court Rules in Favor of Opposition Leader Juan Guaido The saga of the Venezuelan Gold stored in the vaults of the Bank of England seems to be nearing its end. The High Court of London has determined that the management of the 31 tonnes of gold corresponds to Juan Guaido, the opposition leader that proposed an alternate government in the country back in 2019. According to the sentence, due to the recognition that the government of England has of Guaido as interim president of Venezuela, the rulings of the Supreme Tribunal of the...

While there’s 50 days left until the week of September 19, the crypto community has been discussing whether or not Ethereum developers will delay the penciled-in date for The Merge. Moreover, on July 27, the crypto hedge fund Galois Capital published a survey on Twitter that indicates more than 33% of the survey’s respondents think Ethereum could split in two once again. The Merge Getting Delayed in September Becomes a Topical Conversation After the so-called penciled-in date for The Merge was announced, the price of ethereum (ETH) and ethereum classic (ETC) skyrocketed in value against the U.S. dollar. The Ethereum developer and Beacon chain community director, Superphiz, explained that the “timeline isn’t final,” but the planning timeline he shared said The Merge could be implemented on the week of September 19. Essentially, The Merge will finalize the transition from a proof-of-work (PoW) chain to a proof-of-stake (PoS) consensus model. Almost immediately after the announce...

On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve should increase rates above 9% to tame inflation. PCE Price Index Increased 4.8 Percent From One Year Ago The U.S. economy continues to look gloomy every time a new economic report or data is released to the general public. In mid-July, the Bureau of Labor Statistics Consumer Price Index (CPI) report was published, and it revealed June’s CPI data reflected a record peak 9.1% year-over-year increase. On July 27, the U.S. Federal Reserve hiked the federal funds rate by 75 basis points (bps) in order to help curb the red hot inflation. Two days later, the Bureau of Economic Analysis (BEA) released the closely watched personal consumpti...

While ethereum prices jumped 61% higher during the last 30 days, the crypto asset’s U.S. dollar value is still down more than 60% lower than ether’s all-time high recorded nine months ago. Amid the market downturn, the network’s average fees have been lower than $5 per transaction and on July 30, at 9 p.m. (ET), the average fee was roughly 0.001 ether or $1.70 per transfer. Moreover, the Gas Tracker on etherscan.io recorded even cheaper transfers this weekend, as transactions in the $0.18 to $0.66 range have been confirmed by ethereum miners. Ethereum’s Average and Median-Sized Network Fees Remain Low Ethereum is more than 60% less valuable than it was on November 10, 2021, but network transfer fees have been much lower these days. Data shows on July 30, Ethereum’s average transaction fee was roughly 0.001 ETH or $1.70 per transfer. Median-sized fees on the network have been even cheaper at 0.00039 ETH or $0.663 per transaction. Ethereum’s average transaction fees in July did n...

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash Purchases, Introduce Lower Limits Payments of large sums of money in cash and bank checks will be further restricted in Israel by amendments set to take effect on Aug. 1. Tax officials want to further reduce the circulation of cash in the country, thus hoping to curb illegal activities such as the laundering of illicit funds and tax non-compliance, the Jerusalem Post reported. Under the new legislation, companies will be required to use non-cash methods for any transaction exceeding 6,000 shekels ($1,700), a notable decrease from the previous ceiling of 11,000 shekels ($3,200). The cash limit for private individuals who are not registered as busi...

Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with plans to “ramp up” Bored Ape news coverage. Apecoin DAO to Fund a Bored Ape-Focused News Site for 12 Months Members of the Apecoin DAO have hired their own news publication for the next 12 months according to the governance proposal AIP-70 . According to the proposal, the operator of the news site The Bored Ape Gazette says the publication has “grown exponentially over the past year.” The publication’s operator insists that he is “committed to building a trusted source of information for this community and I would like to expand the operations into continuous research, analysis, and reporting across the ecosystem.” The Bored Ape Gazette’s sole...

PRESS RELEASE. July 30, 2022 – Changeangel.io is making its crypto exchange service more attractive to current and prospective users by adding convenient and lucrative Cashback and Affiliate program . Created by cryptocurrency entrepreneurs and developers, Changeangel.io is a quick and a non-custodial way to exchange over 100 coins. “Apart from the security that comes from keeping your crypto in your own wallets, Changeangel.io is now also a way to earn some cool passive income through its new cashback and affiliate programs. Initially we thought of issuing our own token, to provide, as a cash back incentive, but with 8000+ tokens out there in the market, we didn’t want to add another token to the mix, instead we will reward our customers with coins/tokens that are already in the market” said a spokesperson from the brand. Launched in 2019, Changeangel is a blockchain company that offers a collection of services. Their aim is to bring blockchain, cryptocurrency solutions, and exc...

While most of the crypto economy’s digital assets have seen significant gains this month, Terra’s luna 2.0 has been stagnant as it has shed 24.37% against bitcoin during the last 30 days. LUNA is down 89.8% from the token’s all-time price high two months ago on May 28. Moreover, the whistleblower Fatman has revealed that victims of the Terra collapse have filed a class-action lawsuit against Terraform Labs, Do Kwon, and Nicholas Platias. Crypto Whistleblower Fatman Reveals Getting Involved in Terra Lawsuit so ‘Justice Can Take Its Course’ On July 26, the whistleblower Fatman ( @Fatmanterra on Twitter) shared a sign-up link for investors who were hurt financially by the Terra collapse in mid-May. The case is being handled by the litigation firm Scott+Scott and the defendants include Terraform Labs (TFL), Nicholas Platias, and Do Kwon. Furthermore, Jump Crypto, Jump Trading, Republic Capital, Republic Maximal LLC, Tribe Capital, Definance Capital, GSR Markets Limited, Three Arrows Ca...

Filecoin was one of Saturday’s biggest gainers, as prices rose by as much 24% to start the weekend. The move saw the token reach its highest point since early June, and comes despite cryptos being mostly in the red in today’s session. DOT was also higher, as it too hit a multi-week high. Filecoin (FIL) Filecoin (FIL) was one of the big movers in crypto markets on Saturday, as prices of the token surged by over 24%. On Saturday, FIL/USD rose to an intraday high of $7.49, which comes less than a day after being at a bottom of $5.81. As a result of this, FIL reached its highest level since June 7, which came as prices raced past a key resistance point. Looking at the chart, FIL broke past this ceiling of $6.25 earlier in today’s session, which then led to a rise of bullish pressure. After breaking this ceiling, prices have now collided with yet another resistance, this time at $7.60. Bulls seem to be targeting the $8 point, however with prices now overbought, this run to $8 may be...

On July 29, the pop-culture consumer products firm, Funko, announced that the company has partnered with the multinational mass media and entertainment corporation Paramount Global. The two corporations plan to introduce a series of non-fungible tokens (NFTs) based on the Avatar Legends universe. The latest Avatar Legends Digital Pop release from Funko will drop on August 9, 2022, via the NFT platform Droppp. Avatar Legends NFTs — Publicly-Listed Consumer Products Firm Funko Collaborates With Paramount Funko (Nasdaq: FNKO ) has announced the company has partnered with the entertainment corporation Paramount (Nasdaq: PARA ) and has plans to drop a new collection of NFTs based on the Avatar Legends universe. The franchise Avatar Legends stems from the popular Nickelodeon-based Avatar animated television series — “The Last Airbender” and “The Legend of Korra.” The upcoming Funko and Paramount Digital Pop NFTs will feature popular characters like Kuruk, Painted Lady, and Fire Nation...

According to a report stemming from the blockchain intelligence company Chainalysis, the firm identified 54 pro-Russian groups that have “collectively received over $2.2 million worth of cryptocurrency.” The paramilitary groups in Ukraine primarily received bitcoin and ether donations but also got tether, litecoin and dogecoin as well, the Chainalysis study details. $2.2 Million in Crypto Sent to Pro-Russian Groups Located in Ukraine, Says Chainalysis Chainalysis believes more than $2.2 million worth of crypto assets have been acquired by pro-Russian paramilitary groups located in the Donbas region of Ukraine. More specifically, Chainalysis says the recipients were located in Donetsk and Luhansk. There’s been a conflict in Donbas and the Donetsk and Luhansk regions of Ukraine for quite some time. Separatists insist Donbas declared independence from Kyiv in 2014, and pro-Russian military groups agree with the separatists’ declarations. The blockchain intelligence company’s study ...

Santander, one of the biggest banking institutions in the world, has announced it will start offering cryptocurrency services in Brazil. Its CEO, Mario Leão, made the announcement in an interview with local media, stating that the company was still seeking the best way of getting into the cryptocurrency services market. Other banks and fintech organizations are already offering crypto services in the country. Santander to Start Offering Crypto Services in Brazil Santander, one of the biggest financial institutions in the world, serving more than 153 million customers, has announced plans to start offering cryptocurrency-based services to customers in Brazil. The announcement was made in an interview offered by Santander’s CEO in the country, Mario Leão, who stated that these new services might be introduced in the coming months. Leão stated: We expect in the next few months to have definitions about it, who knows in the next release of quarterly results, or even before. Leão f...

On July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200 petahash per second (PH/s). Bitfarms Adds 18 MW to ‘The Bunker,’ Firm Says Daily Production Reaches 16.8 Bitcoin Bitfarms Ltd. (Nasdaq: BITF ) has announced the company has improved The Bunker by adding 18 MW of capacity to the facility. The company completed Phase 2 of The Bunker’s construction and there’s a total of 9,450 bitcoin miners installed. The Bunker started operations in March 2022 and Phase 3 will see the data center built out. Phase 3 aims to add an additional 3,250 miners to the facility which will add 325 PH/s of hashrate. For now, Phase 2 was an 18 MW increase which added 200 PH/s to the operation, and the company claims to man...

The graph was a notable mover in Friday’s session, as the token rallied to a multi-week high. Prices rose by as much as 16% in today’s session, with chainlink also seeing its price climb by a double-digit percentage. Overall, the global crypto market cap is up 1.92% as of writing. The Graph (GRT) The graph (GRT) was one of the big movers in crypto markets on Friday, as prices of the token surged by over 16%. Following a low of $0.1082 during Thursday’s session, GRT/USD rallied to an intraday high of $0.1373 earlier today. Today’s move saw the token breakout of a key resistance level at$0.1305, hitting its highest point since June 11 in the process. As a result of this increased bullish momentum, GRT saw its relative strength index of 14-day hit a three-month high of 64.89. Now that the token is moving into overbought territory, bears will likely be preparing for re-entry, with a ceiling at $0.1585 a possible entry point. Should this current run continue, this would likely be th...

Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity prohibits anyone from “representing or implying that an uninsured deposit is insured.” FDIC Insists Voyager Digital Published Misleading and False Federal Deposit Claims On July 28, 2022, the Federal Reserve Board and FDIC issued a letter to the publicly-listed company Voyager Digital Ltd. (TSE: VOYG ). The letter claims the bankrupt Voyager misled investors with claims concerning FDIC deposit insurance and the company is accused of violating the Federal Deposit Insurance Act. “The FDIC and the Board of Governors of the Federal Reserve System have reason to believe that Voyager Digital, LLC, and its related-entities,...

Bitcoin rose for a third consecutive session on Friday, as prices rose above $24,000 to end the work week. Today’s rise comes as sentiment in crypto remains bullish, following Wednesday’s interest rate hike by the Fed. Ethereum was also higher, as prices approached $1,800. Bitcoin Bitcoin (BTC) was trading higher for a third straight day, as prices climbed over $24,000 in today’s session. The world’s largest cryptocurrency hit an intraday peak of $24,294.79 earlier in the day, which comes after BTC was at a low of $22,722.27 on Thursday. Friday’s high sees BTC /USD hit at its highest point since June 12, when prices were trading over $26,000. As a result of this move, bitcoin has now collided with a long-term resistance level at $24,200, with some earlier bulls opting to liquidate their positions. For this reason, previous momentum has momentarily fallen, with the token now sitting at $24,040.61 as of writing this. Although bulls will likely be targeting a move towards $25,00...

The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other digital finance providers.” Keeping Payment System Open and Competitive The International Monetary Fund (IMF) has reportedly said the Kenyan central bank’s proposed digital currency should complement and not threaten the existing private sector digital money. The global lender insisted that if no safeguards are put in place, a digital currency issued by the Central Bank of Kenya (CBK) can potentially lower transaction costs to the point of driving out mobile money operators such as M-Pesa out of business. According to a report by The Nation, the IMF, in its commentary, said it wants the CBK’s digital shilling document...

In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that the Central African Republic’s bitcoin law is incompatible with regional laws. Meanwhile, Kenyan activists have said cryptocurrencies can potentially create new ways for young people to earn. The latest Visual Capitalist rankings of countries with the highest default risk in 2022 show Ghana as the first ranked in Africa, and second globally. The Central African Republic’s Bitcoin Law Compels Head of Regional Central Bank to Call for Creation of Common Digital Currency The head of the Bank of Central African States (BCAS), Herve Ndoba, has told the regional central bank’s board that it must create a common digital currency which will be used by six countries belonging to the Central African Monetary Union ...

Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since April. This comes as crypto markets surged on Tuesday, in the aftermath of the Fed rate decision. Bitcoin cash moved to a six week high on the news. The global crypto market cap is 6.51% higher as of writing. Uniswap (UNI) Uniswap (UNI) was one of Thursday’s notable movers, as the token rose by nearly 30% in today’s session. Following a low of $6.77 during yesterday’s session, UNI/USD rose to an intraday peak of $8.72 earlier today. The move saw the token hit its highest level since April 26, when prices were trading around the $9 mark. Today’s price surge comes as UNI rallied above its recent resistance level of $.7.75, which had been previously held for the last three months. This rise in price comes as the 14-day relative strength index collided with a resistance level of its own at 69. Uniswap bulls will likely look to maintain their current momentum, and push prices towar...

The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession. America’s Q2 GDP Data Points to a Recession One of the principal agencies of the U.S. Federal Statistical System, the Bureau of Economic Analysis (BEA), released the commerce department’s latest gross domestic product (GDP) statistics on Thursday. The report notes that the GDP data shows a 0.9% annualized decrease in economic growth during the second quarter. “Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022,” the BEA report explains. “The price index for gross domestic purchases increased 8.2 percent in the second quarter, compared with an increase of 8.0 percent in the first quarter.” WE HAVE RECESSION: Q2 GDP -0.9%, EXP 0.4% — zerohedge (@zerohedge) July 28, 2...

According to the Law Commission, the United Kingdom statutory body, digital assets play an increasingly important role in modern society and as such, the law relating to these must be reviewed. Reforming the laws will not only protect the rights of users and maximize the potential of digital assets but can potentially position England and Wales “as a global hub for digital assets.” Several Key Areas Still Need to Be Reformed A British statutory body, the Law Commission has released a consultation paper wherein it proposes to reform the law relating to digital assets. The commission said the release of the paper follows a request by the government for it “to review the law on digital assets, to ensure that it can accommodate them as they continue to evolve and expand.” In a recently released statement , the Law Commission acknowledged that digital assets “play an increasingly important role in modern society.” As a consequence, there is a need to craft laws that allow “a more divers...

Crypto prices surged in today’s session, as markets continued to react to the Federal Reserve’s latest interest rate hike. The Fed opted to raise rates by 75 basis points (bps) for a second consecutive meeting. Bitcoin briefly rose above the $23K mark earlier in the day, with ethereum rallying to a fresh six-week high over the $1,600 mark. Bitcoin Bitcoin (BTC) was trading higher on Thursday, as prices rose following the latest interest rate hike from the Federal Reserve. The move by the bank to boost the federal funds rate by 0.75% pushed bitcoin to an intraday high of $23,358.34 earlier in today’s session. As of writing, this is the highest level BTC /USD has hit since last Friday, June 22, when prices were held close to a resistance level of $24,000. Looking at the chart, earlier gains have somewhat eased, with some bulls opting to abandon their positions, as opposed to attempting to extend the uptrend, leading to bitcoin now trading at $22,949.05. This may have occurred du...