A dramatic downturn has hit the financial markets, with over $2 trillion wiped out within the first trading hour. The cryptocurrency sector has also been severely affected, reminiscent of the volatility experienced in 2021. Major online brokerages such as Charles Schwab, Fidelity, and Vanguard faced technical difficulties, disrupting services for thousands of users. Bitcoin has fallen by more than 16%, and Ether has recorded its steepest drop since 2021. Massive sell-offs have led to the liquidation of 305,759 traders, amounting to $1.22 billion, pushing Bitcoin below $50,000.
Former President Donald Trump took to his platform, Truth Social, to attribute the market crash to the Biden administration’s leadership. He specifically criticised President Biden and Vice President Kamala Harris, suggesting that their policies and governance have led to the current financial crisis. Trump framed the upcoming 2024 election as a choice between a return to economic prosperity under his leadership or a continued decline under what he termed the "Kamala Crash." He also raised alarms about a potential Great Depression and the looming threat of World War III.
The market instability is exacerbated by escalating tensions in the Middle East, contributing to global uncertainty. Social media is rife with speculation and frequent advisories about the potential for larger conflicts, further unsettling investors and traders worldwide. This atmosphere of fear and uncertainty is driving significant market movements and creating a challenging environment for financial stability.
On-chain analyst Embers monitored and found that a whale address withdrew 1,000 bitcoins from Binance, equivalent to approximately US$55.02 million.
MiyukiEllipX will comply with the EU’s MiCA regulations, with plans to add fiat services and offer fee cuts for former Mt. Gox users.
Cheng YuanFor the first time ever, a Scottish court seized Bitcoin from the “technical brains” behind a robbery where a woman was beaten with a Toblerone.This case highlights the evolving nature of criminal activity involving digital currencies, marking a legal milestone in Scotland's approach to cryptocurrency crime.
Cheng YuanBitcoin might face pressure with $15 billion worth of Bitcoin from Mt. Gox and the US government potentially entering the market. Recent trends suggest minimal impact, but September's historically weak performance could continue.
Huang BoA US cryptocurrency ban could lead to market crashes, privacy coin delistings, and increased underground trading. It might also prompt CBDC adoption and regional market fragmentation. Historical parallels show potential volatility.
EdmundPavel Durov's legal issues raise concerns about potential disruptions in the crypto market, particularly for Toncoin. Despite these challenges, the broader cryptocurrency market shows resilience, with key assets like Bitcoin and Ethereum maintaining stability.
EdmundAccording to data from SMR Nuclear, nuclear energy plants produce 441,398,880 megawatt-hours of energy throughout their lifetimes.，This will greatly reduce the energy consumption of Bitcoin mining
SanyaThis article briefly introduces how to buy Bitcoin and Ethereum on the trading platform, including choosing a platform, creating an account, recharging funds, placing orders to buy, and withdrawing virtual currency. It provides a safe and efficient cryptocurrency investment guide for Chinese investors around the world.
WeiliangEl Salvador’s cold wallet now holds 5,850 BTC, reflecting a $93.45 million profit, showcasing the country’s commitment to Bitcoin-backed financial policies.
ZeZhengA dormant Bitcoin address holding 142 BTC, now worth $8.46 million, reactivated after 11 years, sparking speculation in the crypto community.
EdmundArtificial Intelligence, Grayscale, Grayscale: Crypto x AI Project Overview How Crypto Can Achieve Decentralized AI Golden Finance, The AI Era Is Coming, Crypto Can Enable AI to Develop Correctly
JinseFinanceThe core value of Crypto is the value transmission network. In order to realize this core value, it requires a different computer architecture. The computer attribute of Crypto is a tool, and the network attribute is the purpose.
JinseFinanceExplore the various subsections within the Crypto x AI ecosystem: compute, AI agents, coprocessors, and more.
JinseFinanceAs part of this migration, Crypto Unicorns users can expect all transactions associated with the platform to be free, leveraging the already cost-effective gas on the XAI network.
AlexLeading crypto entities such as a16z, Coinbase, and Circle have collectively invested nearly $80 million in lobbying activities to support crypto-friendly political leaders before the 2024 elections.
Huang BoDespite the fall of FTX and SBF, a leading donor of last year, it seems the industry isn't leaving Washington
AlexJinseFinanceBinance has joined the Chamber of Digital Commerce, an American lobbying group, to "help establish policies that benefit and protect users."
decryptThe US Securities and Exchange Commission (SEC) has passed through pressures from the legislative arm; the tension increased as the ...
BitcoinistHarvard lecturer Bruce Schneier said in a report that blockchain is not secure and not really decentralized.
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