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Bitcoin’s longest ‘extreme fear’ streak finally breaks
Bitcoin (BTC) on Tuesday finally escaped the “extreme fear” zone after a whopping 73 days, coinciding with a 19% weekly increase in Bitcoin (BTC) as bulls make their way back to the market. The Crypto Fear and Greed Index increased from “extreme fear” to merely “fearful” on July 19, reaching a score of 30 out of 100. It has gained slightly since then to the current index score of 31. The Index analyzes the current sentiment of the overall crypto market, scoring between 0 to 100. The index is based on mainly on Bitcoin market volatility, volume and dominance, social media sentiment, surveys and search trend data. On-chain metrics firm Santiment on Twitter noted that traders are “changing their tune” and are starting to look towards a long-term breakout of the cryptoc...
Lummis-Gillibrand crypto bill likely deferred to next year
The major bipartisan crypto bill led by U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) will most likely be deferred to next year according to the duo. Speaking during Bloomberg’s Crypto Summit on July 19, the Senators stated that there is a slim chance that the comprehensive bill would be pushed through the Senate this year, with Lummis noting that: “I think both Kirsten and I believe that the bill, in one piece, as a total bill is more likely to be deferred until next year. It’s a big topic, it’s comprehensive, and it’s still new to many U.S. Senators and so it’s a lot for them to digest in the few remaining weeks we have in this calendar year.” The Responsible Financial Innovation Act was introduced in the U.S. Senate on June 6&nb...
21Shares launches S&P risk controlled Bitcoin and Ether ETPs
With cryptocurrency markets shrinking over 50% this year, 21Shares are working to replicate S&P Dow Jones Indices’ benchmarks with its new risk-adjusted crypto investment products. The Swiss crypto investment firm 21Shares has launched two new exchange traded products (ETP) offering investors exposure to the largest cryptocurrencies — Bitcoin (BTC) and Ether (ETH) — while aiming to soften volatility via rebalancing assets to the U.S. dollar (USD). The new products, the 21Shares S&P Risk Controlled Bitcoin Index ETP and 21Shares S&P Risk Controlled Ethereum Index ETP, will start trading on the Swiss SIX Exchange on July 20. The ETPs will trade under tickers SPBTC and SPETH, the firm announced on Wednesday. Both ETPs target a volatility level of 40%, which is achieved through dyn...
YouTube Creators Can Now Link Their Shopify Stores to the Platform
YouTube creators and merchants will now have the ability to link their Shopify stores to their YouTube channels via a newly announced partnership between the two platforms. Revealed Tuesday (July 19) in a blog post by YouTube VP of Shopping Product David Katz, the partnership will allow creators to display their Shopify-listed products across their YouTube channels while benefitting from Shopify’s real-time inventory syncing “so that viewers are never disappointed to find a product out of stock,” Katz wrote. Additionally, creators can enable checkout directly from YouTube so users can purchase items without ever leaving the platform. “Shopify is the commerce infrastructure of the internet, powering millions of independent businesses all over the world,” said Shopify VP of Product Kaz Nejat...
Hyundai Enters the Aviation Industry Through Rolls-Royce Partnership
Hyundai has now announced a new partnership with Rolls-Royce that would bring them into the aviation industry. According to new reports, the South Korean automaker has now entered into an agreement with the British automaker to develop air mobility solutions together. Rolls-Royce has long had a large foothold within the aviation industry, building aircraft engines for more than 500 different airlines, making it the world’s second-largest producer. The partnership will enable the company to combine its aviation expertise with Hyundai’s fast-developing electric fuel cell technology, combining together to create personal air-bound vehicles in the future. Their first aircraft is currently scheduled to arrive by 2025, using fuel-cell electric powertrains and potentially hydrogen propulsion. “Th...
US Justice Department seized $500K in fiat and crypto from hackers connected to DPRK government
The United States Department of Justice has seized and returned roughly $500,000 in fiat and crypto from a hacking group tied to the North Korean government, which included two crypto payments made by U.S. health care providers. In a Tuesday announcement, the Justice Department said in conjunction with the FBI it had investigated a $100,000 ransomware payment in Bitcoin (BTC) from a Kansas hospital to a North Korean hacking group in order to regain access to its systems, as well as a $120,000 BTC payment from a medical provider in Colorado to one of the wallets connected to the aforementioned attack. In May, the FBI filed a seizure warrant for funds from the two ransom attacks and others laundered through China, which the Justice Department reported as worth roughly $500,000 total. “These ...
Amazon.eth ENS domain owner disregards 1M USDC buyout offer on Opensea
On Tuesday, the Ethereum Name Service, or ENS, domain Amazon.eth received an offer for 1 million USDC (a stablecoin pegged to the U.S. dollar) from an anonymous wallet address on OpenSea. The offer to buy the ENS domain went unanswered however, and no transaction took place. This is despite the last sale of the domain name being five months ago for 33 Ether (worth around $100,000 at that time). The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea It is unclear at the time of publication whether the owner simply was not informed of the offer, or did not consider it to be near fair value, or if the bidding and domain owner accounts were linked in an attempt to boost the price of the asset (in what is known as a “wash trade”). According to data from Op...
Skybridge announces suspension of withdrawals from of its one crypto-exposed funds
Skybridge Capital has suspended withdrawals from its Legion Strategies fund – one of the firm’s funds with crypto exposure. Founder Anthony Scaramucci confirmed the move July 19 in an interview on CNBC, after Bloomberg reported it a day earlier citing anonymous sources. “Our board made the decision to temporarily suspend until we can raise capital inside the fund,” Scaramucci told CNBC. “The fund is unlevered, so there’s definitely no fear of any liquidation whatsoever and about 18% of the fund is in what we would call crypto exposure.” An independent board also took art in the decision, Scaramucci said. “Our board made a decision to temporarily suspend until we can raise capital inside the fund and then make sure when people get out they get out orderly,” says @scaramucci. “About 18...
Bitcoin price holds $23.5K, leading bulls to say ‘it’s different this time’
Similar to Stockholm syndrome where captives develop a psychological bond with their captors, crypto winters have a way of flipping even the most bullish cryptocurrency supporters bearish in a short period of time. Evidence of this reality was on full display on July 19 after the recovery of Bitcoin (BTC) back above $23,000 was met with widespread warnings that the move was merely a fakeout before the market heads for new lows $BTC Not bad. But keep in mind that this still can turn into a classical fake out. My general thesis still remains, bear market rally pic.twitter.com/VxnH4mo6hW — Jimie (@Your_NLP_Coach) July 19, 2022 While the possibility of new lows being set in the future can’t be ruled out, here’s a look at analysts’ opinions on how this BTC breakout could be different than...
Netflix’s Better-Than-Expected Subscriber Forecast is Good News for Music Streamers
Investors have reason to feel upbeat about subscription businesses after Netflix revealed better-than-expected quarterly results on Tuesday (July 19). Netflix subscribers dropped 970,000 subscribers to 220.7 million in the second quarter — it warned in April that it expected to lose as many as 2 million subscribers — and forecast a 1 million-subscriber gain in the third quarter. Analysts polled by Refinitiv expected Netflix to lose an average of 1.84 million subscribers in the second quarter, according to Reuters. The good news caused Netflix’s share price to quickly rise 8.2% to $218.15 in after-hours trading on Tuesday, up from $201.63 on Monday, when shares gained 5.6%. Still, Netflix shares are down 66.5% year to date through Tuesday. Tuesday’s announcement was also good news for other...
Biden to announce climate actions but not yet declare an ‘emergency’
Jean-Pierre declined to offer details about what Biden planned to announce, though she said the issue remained a top priority for the president. “This is part of multiple actions that the president has already taken from the moment that he walked into office. This is urgent to him,” she said. Lawmakers have told POLITICO that the White House has informed them it was considering the emergency declaration, though it had not yet decided whether to take the step. Biden’s speech comes amid a brutal heatwave in the U.S. where 20 percent of the population is sweltering under 100-degree temperatures and as the Western states struggle with the worst drought in more than 1,000 years. But Washington has remained mostly locked in a partisan fight, with Democrats unable to move major legislation becaus...
What is Enjin (ENJ) and how does it work?
What is Enjin and what are its main features? With blockchain-based nonfungible tokens (NFTs) powering the rise of Web3, a number of NFT-based projects are gaining significant importance, as they provide the technological means of assembling important data on blockchains in a visually appealing manner. Related: Nonfungible tokens: How to get started using NFTs Leading among them is Enjin, a world-class blockchain software co-founded by Maxim Blagov and Witek Radomski in 2009. Enjin helps build an entire Enjin ecosystem consisting of products that individuals, businesses and developers can use to develop, trade, monetize and market NFTs. Allowing users to manage NFTs and crypto through the Enjin wallet, lets them share NFTs through simple QR codes and provides them access to a dedicated mar...
