Tag Archives: AA News

With the US Federal Reserve firming up its ante against inflation and dismissing discussions about any softening of monetary policy. JPMorgan’s chief global strategist, David Kelly, has made some suggestions for crypto investors concerned about the direction of the market. In an interview Friday after Fed Chair Jerome Powell’s speech at Jackson Hole, Wyoming, Kelly said that the best way to be positioned now is to focus on valuations and avoid looking at short-term...

Arbitrum – an Ethereum layer-2 scaling solution – is poised to undergo a major network upgrade on Wednesday. The upgrade will help Ethereum address the onerous transaction fees that have plagued the network over the past two years.  Per a tweet from Arbitrum on Monday, the “Nitro” upgrade will go live on August 31st. It will be accompanied by at least two hours of planned network downtime, starting a 10:30 am EST. According to Offchain Labs – the developers behind Arbitrum...

Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs.  Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected. The Sad State of NFTs According to DappRadar’s statistics page, the daily trading volume of...

Iranian trade minister revealed on Monday that regulations and logistics have been finalized to facilitate the use of crypto in Iran’s international trade. The move comes nearly 3 weeks after it officially announced to have completed $10 million worth of imports paid in crypto. Iran Approves Crypto for Global Trade Iran’s Trade Minister Reza Fatemi Amin said the country, which has been facing US sanctions since 1979, on finalized regulations to use cryptocurrencies for...

The authorities of the Mendoza province reportedly enabled citizens to pay government fees and taxes in cryptocurrencies. The region’s tax administration described the move as “the strategic objective of modernization and innovation,” which could give “taxpayers different means to comply with their tax obligations.” Contrary to Mendoza’s pro-crypto stance, Argentina’s central bank is not so much in favor of the industry. Earlier this year, it banned domestic financial...

Brian Brooks – Chief Executive Officer of the crypto infrastructure provider Bitfury – thinks the Federal Reserve’s approach to tackling inflation is one reason for the current downturn. He also criticized the US Securities and Exchange Commission (SEC), claiming that it prefers to sue individuals and companies rather than outline appropriate guidelines beforehand. Inflation has been an issue for numerous countries for a while now. Leading economies like the USA, the UK, and...

Umar Farooq, Chief Executive Officer of JPMorgan’s blockchain unit, believes that real use cases of crypto are yet to unravel while most of the existing assets are “junk” with only a few exceptions. Speaking at the Monetary Authority of Singapore’s (MAS) Green Shoots seminar on Monday, Farooq said that the regulation has also not caught up with the burgeoning sector, thereby obstructing the foray of several many traditional financial institutions. “Most of crypto is still...

Earlier today, the Constitutional Court of the Central African Republic (CAR) dictated it was unconstitutional to purchase citizenship, e-residency, and land with the government-backed cryptocurrency “Sango Coin.” As per a Reuters report, the Court said the market’s volatility hindered the crypto project’s feasibility. The price of Sango Coin has been declining since November 2021, four months after its launch. Sango Coin launched on July 21 of 2021. The move was a...

Dubai’s Virtual Asset Regulatory Authority (VARA) reportedly instructed local cryptocurrency-related firms to require a license from the watchdog before advertising their products. The initiative could secure maximum protection for investors and limit the spread of misleading marketing campaigns focused on digital assets. Over the past several months, Dubai has emerged as a global cryptocurrency center where numerous companies and leading players set foot. Sam Bankman-Fried’s...

After Ava Labs, Ripple’s Brad Garlinghouse denied allegations, while Kyle Roche claimed that the stint was a deliberate scheme to intoxicate and exploit him. Crypto Leaks, which happens to be an online publication exposing corruption and fraud in the crypto ecosystem, made some astonishing claims about Ava Labs forming a secret pact with Kyle Roche, the founding partner of the law firm Roche Freedman. The same report even dragged Ripple CEO Brad Garlinghouse funded a law firm...