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Colombia Plans to Launch Digital Currency to Reduce Tax Evasion

The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments and transactions of over 10 million Colombian …

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UK inflation hits new 40-year high of 10.1% as food and energy price surge continues

KEY POINTS The consumer price index rose 10.1% annually, according to estimates published by the Office for National Statistics on Wednesday, above a consensus forecast of 9.8% and up from 9.4% in June. Rising food prices made the largest upward contribution to annual inflation rates between June and July, the ONS said in its report. …

UK inflation hits new 40-year high of 10.1% as food and energy price surge continues Read More »

Argentina Ethereum Conference Highlights Crypto’s Growing Reach in the Country

The country continues to serve as a hotbed of crypto innovation even as it faces its latest financial crisis. ETHLatam drew more than 4,000 people. Last Thursday, while the Argentine government was announcing that July inflation had reached a whopping 7.4%, the highest monthly rate in 20 years, thousands of locals were walking into the Convention …

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Blue chip NFT performance fails recovery, but investors HODL even harder

In the last 30 days, over 53% of NFT investors made losses on sale trades. Despite the cold market sentiment, the number of investors that hold their NFT investments continues to rise. The market performance of blue chip nonfungible tokens (NFTs), often considered a good long-term investment, revisited its all-time low range for the second time …

Blue chip NFT performance fails recovery, but investors HODL even harder Read More »

LATAM’S LARGEST INVESTMENT BANK BTG PACTUAL LAUNCHES BITCOIN, CRYPTO EXCHANGE

BTG Pactual has launched Mynt, a new exchange for bitcoin and other cryptocurrencies in Brazil focusing on education in the ecosystem. The largest investment bank in Latin America just launched a cryptocurrency exchange in Brazil. The exchange will only support bitcoin and one other cryptocurrency at launch. BTG Pactual holds about $200 billion in assets …

LATAM’S LARGEST INVESTMENT BANK BTG PACTUAL LAUNCHES BITCOIN, CRYPTO EXCHANGE Read More »

Walmart sticks with second-half outlook after earnings beat expectations

KEY POINTS Walmart topped analysts’ expectations for earnings and revenue in the fiscal second quarter, even as consumers pulled back in discretionary categories like apparel. The retailer’s profits are under pressure, but it is wooing more middle- and higher-income customers who have turned to the discounter for low-priced food and essentials because of inflation. The …

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Galaxy Digital Terminates $1.2 Billion Bitgo Acquisition Deal, Crypto Firm Still Plans for Nasdaq Listing

Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021. Galaxy Ends Deal With the Crypto Custodian Bitgo On …

Galaxy Digital Terminates $1.2 Billion Bitgo Acquisition Deal, Crypto Firm Still Plans for Nasdaq Listing Read More »

Tornado Cash Community Fund Signatories Relinquish their Positions

The sanctions on the cryptocurrency mixing protocol, Tornado Cash, by the US Treasury Department are causing more internal wranglings for the platform than projected. In the latest update, the signatories to the protocol’s community funds have relinquished their role, automatically ceding control of the funds to the Decentralized Autonomous Organization (DAO). Tornado Cash had a robust and functioning ecosystem …

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BRAZIL’S LARGEST BROKER XP JUST LAUNCHED BITCOIN TRADING SERVICES

The broker has 3.6 million users and its new trading platform developed in partnership with the Nasdaq can scale to support one million users for bitcoin trading. The largest broker in Brazil has launched bitcoin trading services for its clients. XP has over 3.6 million users. The company has a goal of 200,00 users by …

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Bitcoin tops $25,000 for the first time since June before slipping

KEY POINTS Bitcoin briefly topped $25,000 to hit its highest level in June before falling sharply as the cryptocurrency struggles to make any significant move higher. Bitcoin’s rise can be attributed to a rally in alternative coins, or altcoins. Ether was up 56% in the last month, far outpacing the gains made by bitcoin as …

Bitcoin tops $25,000 for the first time since June before slipping Read More »