In a sudden turn of events, the U.S. government announced it will no longer charge decentralized software (DeFi) developers for crimes committed by third parties using their platforms. Well, isn’t that nice! 😏
So, $BTC decided to flex its muscles and bounce off that $112,000 support level like it’s a trampoline. Not only that, it broke through the downward trendline with more swagger than a Tina Fey monologue. But let’s not get too excited-this rally could turn into a faceplant faster than you can say “mean girls.”
This new provision, a revision of the National Defense Authorization Act (NDAA), aims to stop the Fed from ‘testing, studying, developing, creating, or implementing’ a digital dollar. So basically, they’re grounding the Fed from doing its crypto homework. You love to see it.
The mastermind behind this digital con is an on-chain detective-kind of like Sherlock Holmes but with fewer pipe-smoking habits-going by ZachXBT. Apparently, the victim’s exchange and hardware wallet support lines were impersonated, which is practically the crypto equivalent of a con artist knocking on your door and claiming they’re from the “Pain Relief Department” of your bank.
Since July, when the U.S. government decided to give a proverbial thumbs-up with the GENIUS Act (because nothing says “trust” like a new law), Ethereum’s star has been rising faster than a helium balloon at a kid’s birthday party. Rumors of another high-profile crypto bill in September have pumped even more confidence into the market – and who doesn’t love a good legislative cheerleading squad?
Since March of the perplexing year 2024, BNB has been mostly lurking in the shadows-cuddling around, waiting for its moment. Yet last month, it decided to turn heads, soaring to a sparkling new peak of 810 dollars. While the universe’s vast chaos causes most assets to shiver in their digital boots, BNB held steadfast, reaching a resplendent 883.86 dollars. A salve for the crypto collective-bravo! 🥂
Now they’re lettin’ folks mess with this… Xapo Byzantine Bitcoin Credit Fund. Don’t ask me what ‘Byzantine’ means. Sounds complicated, and complicated usually means somebody’s getting a cut. It’s supposed to be a safe way – regulated, they call it – to make yer Bitcoin work for ya. Like puttin’ it under a mattress, only with more forms and a fella in a suit breathin’ down yer neck. Joey Garcia, a fella who runs things over there, says they’re tryin’ to mix the old ways of bankin’ with this new-fangled Bitcoin business. Says it’s just like savin’ dollars, only…digital. 🙄 Right.
Here’s the juicy scoop:
State Street, the granddaddy of finance (founded in 1792, no less!), is no slouch. With $4.7 trillion in assets under management and a whopping $46.6 trillion in custody and administration, they’re basically the Gandalf of the financial world-wise, powerful, and probably carrying a staff (or a ledger). 🧙♂️📜
CME Group disclosed a sharp uptick in XRP futures activity in a post on social media platform X on Aug. 21. The firm reported that open interest in XRP and micro XRP futures reached an all-time high with more than 6,000 contracts on Aug. 18, coinciding with the product’s anniversary. In its post, CME Group stated: