Bitcoin

Charles Schwab’s $655 billion asset management arm is launching its first crypto-related exchange-traded fund (ETF). The new fund is expected to start trading this week on the NYSE Arca exchange. Charles Schwab Launches Its First Crypto-Related ETF Schwab Asset Management, a subsidiary of The Charles Schwab Corp., announced last week the launch of the Schwab Crypto Thematic ETF (NYSE Arca: STCE), calling the new product “its first crypto-related ETF.” Charles Schwab is a major American brokerage, banking, and financial services company. Schwab Asset Management currently has over $655 billion in assets under management, according to its website. It is the third largest provider of index mutual funds and the fifth largest provider of exchange-traded funds (ETFs). The first day of trading for the Schwab Crypto Thematic ETF is expected to be on or about Aug. 4, the announcement details, adding: The fund is designed to track Schwab Asset Management’s new proprietary index, the Schwab

Quik.com is offering minting of NFT domains, which will allow users to host their decentralized web pages and even change their digital wallet’s heavy addresses, while the evolving virtual universe, the decentralized web3, and its related technologies are still in the early stages of adaptation. Users will have the opportunity to obtain their lucky number as the race has just begun. Visit Quik.com’s NFT Domain Marketplace . Mint your first Metaverse Domain Name . Mint your first VR Domain Name . Mint your first Web3 Domain Name . Minting NFT domains is more than just a trend; it’s an innovative possibility that optimizes blockchain technology and enables users to construct decentralized websites with full control and ownership over the data and content. as opposed to conventional domains that are run, controlled, and even licensed by the ICANN regulatory body. It permits the user to buy a domain but does not transfer the actual ownership. Users are the actual owners of the d

Regulators in the U.S. and U.K. have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.” US and UK Regulators Collaborate on Crypto Regulation The U.S. Department of the Treasury published a joint statement last week on the U.K.-U.S. Financial Regulatory Working Group. The group held a meeting on July 21. Participants included officials and senior staff from HM Treasury, the Bank of England, the Financial Conduct Authority, the U.S. Treasury Department, the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). The statement explains that the financial regulatory working group was formed in 2008 “to deepen bilateral regulatory cooperation

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

In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from the province are being investigated for allegedly violating the law. Reimbursements Set to Commence in August Authorities in China’s Henan province have reportedly announced plans for another round of repayments to clients of rural banks whose bank accounts have been frozen since April. The repayments program is set to start on August 1 and according to an arrangement put forward by authorities, only clients with deposits that range between 100,000 yuan ($14,827) and 150,000 yuan ($22,240) qualify to receive a reimbursement. According to a Reuters report , authorities in the province are now moving to pacify the restive bank clients who have been protesting against the three rural banks’ deci

The latest troubles in the crypto space have allegedly led to an increased supply of second-hand luxury watches, according to a leading trading platform. As a result, prices of sought-after models by major brands like Rolex and Patek have dropped, the company revealed. Higher Supply After Crypto Crash Hurts Resale Prices of Top Watches From Swiss Brands Like Rolex The recent decline in the valuations of crypto assets has directly impacted pricing of luxury watches from Rolex, Patek Philippe and the like, a German online platform that lists hundreds of thousands of watches has noticed. The supply of trophy watches, such as the Rolex Daytona or Patek Nautilus 5711A, “is now much larger,” the Karlsruhe-based Chrono24 said in a statement, quoted by Bloomberg. The crypto collapse is easing supply of the most desired models on the second-hand market, it elaborated. The report notes that the decreasing prices of the most wanted timepieces is an indication that the second-hand luxury wat

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that more bear markets are coming and the next one will be “the worst” in his lifetime. Noting that many stocks will go down 90%, he stressed that investors will lose a lot of money. Jim Rogers Says ‘the Worst’ Bear Market in His Lifetime Is Coming Next Famed investor Jim Rogers warned about an incoming bear market that will be “the worst” in his lifetime in an interview with Kitco News, published last week. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. Citing that we are somewhat in a bear market right now, he predicted that the worst has yet to come, warning: More bear markets are coming … The next one is going to be the worst in my lifetime. While explaining that in 2008, “we had a problem with too much debt,” he stressed that the debt has skyrocketed since then. “The debt, oh my God, look out the window

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has discussed what he believes is the “best investment value today.” What is the Best Investment Value Today? Rich Dad Poor Dad’s Robert Kiyosaki Answers The author of Rich Dad Poor Dad, Robert Kiyosaki, has suggested that investors buy silver, stating that the precious metal is the best investment value today. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday: “Q: What is best investment value today?” He replied that the answer is silver, noting that gold’s price has climbed above $1,700 but silver has fallen to $20. “I do not touch paper gold or silver ETFs [exchange-traded funds]. I only want real gold or silver coins. Silver is an industrial precious metal. Gold is not. Do

A panel of crypto industry experts says now is the time to sell dogecoin. The majority of the experts expect DOGE to completely lose its value. Dogecoin “was a meme coin that shouldn’t have really gotten to this point,” said one of the experts on the panel, blaming Tesla CEO Elon Musk for the popularity of the meme cryptocurrency. Expert Panel on Dogecoin Losing All Value Price comparison portal Finder updated its dogecoin (DOGE) price predictions Wednesday. The platform explained that it measures expert predictions of the future price of dogecoin using weekly and quarterly surveys. The latest quarterly survey, conducted in July, “asks a panel of 54 industry experts for their thoughts on how dogecoin will perform over the next decade.” The panel was asked, “Do you think DOGE will completely lose its value?” 55% said yes, 21% believe the meme cryptocurrency will bounce back, and 24% said they were unsure. Regarding when the price of dogecoin will lose all of its value, 3% said it wi

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

Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined. Ripple’s Counsel Calls for ‘Sensible’ Crypto Regulation Stuart Alderoty, general counsel for Ripple, stressed the importance of sensible cryptocurrency legislation in an opinion piece published Wednesday. Referencing a House Financial Services Subcommittee hearing on Investor Protection where Congressman Brad Sherman (D-CA) pushed the SEC to go after major cryptocurrency exchanges that traded XRP , Alderoty emphasized: Sherman’s off-base remarks underscore the urgent need for sensible crypto legislation from Washington. The SEC sued Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen in December 2020, alleging that the XRP sale was an u

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief revealed. SEC Chairman Gary Gensler’s Video About Regulating Crypto Exchanges U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler published a video Thursday explaining how the securities watchdog plans to regulate crypto exchanges and provide investor protection. Gensler explained in the video the similarities and differences between crypto trading platforms and traditional exchanges like the New York Stock Exchange (NYSE). “When you trade on a stock market, you have certain protections,” he began, adding that investors are “protected against fraud, manipulation, running, and the like.” Noting that crypto platforms serve “millions, sometimes tens of millions” of retail customers who are directl

A U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake crypto apps that have scammed hundreds of investors.” U.S. Senator Questions Chief Executives of Apple and Google on Fake Crypto Apps Senator Sherrod Brown (D-OH), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Apple CEO Tim Cook and the CEO of Alphabet and Google, Sundar Pichai, regarding their measures against fake cryptocurrency apps on their platforms. He stressed that it is “imperative that app stores have the proper safeguards in place to prevent against fraudulent mobile application activity.” Senator Brown’s letters followed a warning by the Federal Bureau of Investigation (FBI) against fake cr

PRESS RELEASE. July has seen a jump in crypto prices, and none more so than the utility token of Alchemy Pay, ACH. ACH saw a 43% increase in just 24 hours on July 20th, making it crypto’s biggest gainer. ACH has also broken into the TOP 10 most searched tokens on almost every crypto site over the past two weeks, including Coingecko and Coinmarketcap. The ACH token has seen so much interest that Binance is now supporting it for margin trading – unusual for a project of Alchemy Pay’s size. Alchemy Pay is a Singapore-based payment provider addressing some of the industry’s biggest barriers to entry with its crypto on/off ramp payment plugins, as well as its crypto acceptance for merchants and businesses. ACH Listed On Binance US, Crypto.com & KuCoin Part of the reason for the impressive price action is the token’s recent listings on Binance US, Crypto.com (website and app), KuCoin, and Kraken. As well as its availability across the world’s largest exchanges, ACH can now be stak

A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro Expected to Prevent It From Becoming Too Popular Europeans’ access to a digital euro should be restricted to prevent a flight of capital from deposits at commercial banks, according to a report published by the European Central Bank. The paper has been produced by a team of experts led by Frank Smets who heads the regulator’s Directorate General Economics. The economists have tried to predict the impact of a central bank digital currency ( CBDC ) on Europe’s banking sector. In the absence of empirical data, they have taken into account public reactions to news about ECB’s plans to issue a digital version of the common European curr

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

The International Monetary Fund is predicting that Latin America (Latam) will keep growing this year, reaching a growth rate of 3% even with all of the difficulties that the region is facing. The institution believes that the economic recovery that Latam is enjoying after the Covid-19 pandemic will be decelerated by several factors, including the macroeconomic conditions, rising inflation, and increasing social tensions amidst energy and food insecurity. IMF Predicts Latam Will Keep Growing The International Monetary Fund has issued a series of predictions on the growth and the possible difficulties that Latam will be facing in the second half of 2022. After examining all of the variables, the institution predicts that the region will grow by 3% in 2022, fueled by the economic recovery and the reopening of many industries that were hit by the Covid-19 pandemic. This upgraded forecast is higher that the earlier prediction the International Monetary Fund had made, expecting the regi

Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs associated with metaverse and VR products. Meta’s Metaverse Push Is Making It Lose Funds Meta, one of the first companies that announced a pivot from social media to the metaverse, is battling to make its new focus profitable. In its most recent earnings call , which reports on the economic performance of the company during Q2, the company announced that its metaverse division, the Reality Labs unit, had lost more than $2.8 billion dollars in the mentioned period, even when it manages to register more than $400 million in sales. Reality Labs is in charge of the metaverse strategy of the company, including the development of virtual reality and augmented