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Tether, one of the largest crypto companies in the industry and issuer of the most widely used stablecoin USDT, has released its attestation report for the first half of the year, recording substantial gains that amount to nearly $1 billion per month. Transition To US Treasuries Pays Off According to the report , independently audited by accounting firm BDO, Tether’s net operating profit for the second quarter of 2024 reached a new high of $1.3 billion, propelling the company’s total net profit for the first half of the year to over $5 billion. According to the stablecoin issuer, the foundation of Tether’s financial growth and stability comes from an income base derived from investments in US Treasury Bills (T-Bills), which was first implemented after eliminating commercial paper from its stablecoin reserves and replacing it with US T-Bills in 2022. 

Nobel laureate Paul Krugman has slammed Republican presidential contender Donald Trump and his pick for vice president JD Vance over their pro-crypto stance.  “The truth is that Bitcoin, which was introduced 15 years ago, an eon in tech time, remains economically useless,” said Krugman i n his opinion column in the New York Times . “A couple of exceptions to its uselessness are money laundering and extortion.” Paul Krugman Says Crypto ”Largely A Ponzi Scheme”  In recent months, Trump has made a series of pro-crypto remarks, including attending the Bitcoin 2024 conference to woo the US crypto community.  Krugman expressed doubt over Trump’s sudden change of heart over crypto after he had previously called Bitcoin a “scam.”  He also criticized Trump’s plan for a national Bitcoin stockpile, saying it would be ”a government bailout for a scandal-ridden, value- and environmentally-destroying industry.” Crypto is ”largely a Ponzi scheme,” he added.  Krugman’s comments come as Trump s

The XRP price has climbed by over 4% within the last 24 hours, extending its bullish trend observed over the past month. This increase propelled the token to a four-month peak of $0.6377 early on Tuesday, outperforming the top 10 cryptocurrencies in the market. However, this recent surge in value coincides with strong criticism from key Ripple executives, including CEO Brad Garlinghouse and the company’s Chief Legal Officer Stuart Alderoty, directed at the leadership of the US Securities and Exchange Commission (SEC).  Ripple’s Response To Amendments In Binance Lawsuit As Bitcoinist reported early Tuesday, the SEC amended its complaint against the world’s largest exchange, Binance, specifically adjusting the classification of 10 cryptocurrencies, such as Solana (SOL), Cardano (ADA), Polygon (MATIC), and Cosmos (ATOM), that were initially deemed as “securities.”

After a weekend rally approaching $70k, Bitcoin was sent tumbling almost 5% on the news that over $2 billion worth of US Government-controlled funds were suddenly on the move. However, as noted by Blockchain analytics platform Arkham Intelligence , one US er took it upon themselves to deposit an on -chain plea directly into the government’s wallet, urging them to ‘HODL’ the funds rather than dump the BTC onto the market. lol Someone sent the US Government an Ordinal saying ‘H O D L’ https://t.co/0aULBXGd8P pic.twitter.com/Ct4eStIEpZ — Arkham (@ArkhamIntel) July 30, 2024 Read more: German government told ‘taxes are robbery’ via Bitcoin inscription  Arkham has the address labeled as ‘US Government: Silk Road DOJ Confiscated Funds (bc1qj),’ referring to bitcoin seized from James ‘Jimmy’ Zhong in November 2021. Exploiting a bug in the online black market Silk Road, Zhong acquired a total of over 50,000 bitcoins in September 2012. The plea to ‘HODL’ references a common meme in t

The crypto currency industry is home to several ill-doers, but most of this comes under the cybercrime category. But things were taking a different turn after a 29-year-old Bitcoiner was kidnapped and murdered in Kyiv, Ukraine. A recent report highlights that four men between the ages of 24 and 29 killed the foreign national Bitcoiner who was in Kyiv. The Bitcoiner allegedly faced coercion to transfer an incredible 7 million Ukrainian hryvnias worth of Bitcoin at an abandoned building, as reported by the Kyiv Police. Around midnight on July 29, the man was assaulted, and the officials verified that the attack was planned. The man was killed by strangulation, and his body was buried in a jungle after he transferred the Bitcoin. In addition, the suspects in custody went on to convert the stolen Bitcoin into United States dollars [USD] and euros. They even altered the number plates of the car they used in the crime. The police added, “Information about the man’s abduction came to the capi

In 2016, Heather Morgan, a.k.a ‘Razzlekhan’ hacked Bitfinex and stole over 120,000 bitcoin. Morgan and her husband Ilya Lichtenstein subsequently pleaded guilty to money laundering conspiracies related to the theft, and to conspiring to defraud the United States. Despite these two federal crimes and a loss that exceeded $4 billion by 2022, a judge has allowed Razzlekhan to remain out of prison. In fact, she attended this year’s Bitcoin 2024 conference in Nashville. Some attendees spotted her and took selfies, she passed out stickers with her character logo, the Crocodile of Wall Street, and told attendees she was searching for work as a crypto consultant. Looking for remote B2B growth /marketing /sales /copywriting /demand gen work. Can be contract or potentially full-time. Have 10 years experience, including remotely managing distributed teams. DM me to discuss. Serious opportunities with B2B (tech) companies only. Thanks! — Heather "Razzlekhan" Morgan (@HeatherReyhan)

Bitcoin surged towards $70K after former US President Donald Trump’s landmark speech at Bitcoin 2024 at the weekend and as a potentially pivotal Federal Open Market Committee (FOMC) meeting looms this week. The BTC price jumped over 3% in the last 24 hours to trade at $69,510.03 as of 3:40 a.m. EST as the crypto industry’s overall market cap jumped by an identical amount. The Bitcoin price pump follows Trump’s landmark pro-crypto speech at the Bitcoin 2024 conference in Nashville on July 27. Trump said he’d fire Securities and Exchange Commission chair Gary Gensler on day one if he regains the White House in November’s election, would set up a strategic Bitcoin reserve, and make the US the world capital of the crypto industry. Potential Interest Rate Cut Could Boost Bitcoin And Other Cryptos With the next FOMC meeting scheduled for July 30 to 31, analysts anticipate that the central bank may hint at a potential interest rate reduction. Such a cut is expected to take place at th

The global non-fungible token market has experienced some surge again this week, with trading sales volume surpassing $100 million for the third week. Below, we have listed some of the top-selling non-fungible token collections in the past seven days, according to tiexo.com. 1. Solana Monkey Business NFT Collection Solana Monkey Business, a non-fungible token collection created on the Solana blockchain network featuring a limited edition of 5,000 randomly generated 24×24 pixel monkey NFTs, is this week’s most-selling NFT collection. In the past seven days, the Solana Monkey Business NFT collection has raised a trading sales volume of $5.87 million, up 20% from the past week. 2. Pudgy Penguins NFT Collection Pudgy Penguins, a non-fungible token collection featuring a limited set of 8,888 cute penguin birds hosted on the Ethereum blockchain network, is this week’s second most-selling NFT collection. In the past seven days, the Pudgy Penguins NFT has recorded a trading sales

Globally, cryptocurrency transactions are set to exceed $108 trillion by the end of this year, marking an almost 90% increase from 2022. This surge highlights the rapid adoption and integration of digital currencies in various sectors. Australia has become a significant player in the global cryptocurrency market, demonstrating a strong interest in digital assets and investment products. The crypto scene in Australia Since 2022, Australian investors have had access to physically-backed Bitcoin ETFs, notably through the 21Shares Bitcoin ETF listed on Cboe Australia. This milestone provided a regulated and secure investment option, allowing investors to gain exposure to Bitcoin without directly purchasing the cryptocurrency. Leading up to the ETF approval deadline, there was considerable speculation that such approval would drive up demand for Bitcoin, subsequently increasing its price. This speculation was validated when BlackRock initiated its Bitcoin ETF applicatio

The latest meme coins now leverage Layer 2 solutions, NFT integrations, and gamification to stand out in a crowded market. While meme coins remain highly speculative investments, their growing presence on significant exchanges and increasing partnerships suggest a maturing segment within the broader cryptocurrency ecosystem. Bitcoin outperformed the broader crypto market during Asia trading, rising 4.4% to nearly $67,000. Solana surged over 5%, leading major tokens, while Ethereum, BNB, and ADA gained 3%. Ethereum products dominated crypto futures liquidations for the third day, with over $70 million in longs liquidated. Latest Meme Coin To Buy Right Now Turbo presents itself as an AI-generated meme coin, and with over 50 reputable exchanges world wide, it is demonstrating a growing market. Pepe Un chain ed distinguishes itself by leveraging Layer 2 technology to overcome traditional block chain limitations, offering enhanced speed and efficiency. Cat in a Dogs World challenges t

Ripple ’s native token XRP is currently trading around the $0.6 mark on Friday. The cryptocurrency faired well this quarter as it surged nearly 30% in a month. The altcoin is attracting bullish sentiments after being in the downturn for nearly six months this year. Despite being in the top 10 cryptocurrencies list, the altcoin remains on the back foot this year in 2024. Now that the altcoin is on the rise, will it end the month on a higher note or dip? In this article, we will highlight how high or low XRP could trade in the charts. Also Read: U.S. Unemployment Benefits Surge and Recession Warning Looms Ripple: XRP Price Prediction For July End Source: Watcher.Guru Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Ripple ’s XRP. The forecast estimates the cryptocurrency to surge by another 20% from its current price of $0.60. The price prediction claims that Ripple ’s native token will spike in price touching a high of $0.72 by the end of th