The biggest news in the cryptosphere for Aug. 26 includes Federal Reserve Chairman Jerome Powell’s indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the U.S. Dollar as the bear market continues. CryptoSlate Top Stories Federal Reserve Chair urges everyone to ‘factor inflation…
Bitcoin fell almost 5% to $ 20,822 after Federal Reserve Chairman Jerome Powell spoke at Jackson Hole on Aug. 26, saying that restoring inflation back to ideal levels will take time. Powell briefly spoke at the event and talked about the importance of price stability. He noted that price stability is the “bedrock of the…
Federal Reserve Chairman Jerome Powell urged households and businesses to factor inflation into financial decisions as it will take time and effort to return inflation to ideal levels. Powell made the remarks in a speech during the annual economic policy conference in Jackson Hole. According to a Baron’s report, markets were “braced for a hawkish…
Neutrino $USDN lost its peg for the first time since June 16 as it was updated to implement upgrades to the protocol. Confirmation of the upgrade was announced at 4 pm BST Thursday, several hours after the peg fell from $0.98 to $0.96. At the time of press, the stablecoin has fallen even lower to…
Voyager Digital has received the approval to commit $1.6 million as bonuses for employees who are crucial to its restructuring process. A U.S. Bankruptcy Court approved the request on Aug 24, after Voyager and its creditors agreed to a workable term, which included trimming the retention bonus from$1.9 million to $1.6 million. Voyager Creditors shows…
Sam Trabucco, Co-CEO of Alameda Research alongside Caroline Ellison, announced that he would be stepping down after admitting to “not really working at all” over the past few months. At a time when Alameda has been at the heart of a whirlwind of activity within the crypto industry, it is surprising to learn that one…
IBM’s Center for Advance Studies (CAS) and Evoke’s joint technology conference WeaveSphere has adopted the motto “Evolving Technology for the Future” and will focus on blockchain, crypto, Web3, NFTs, and the metaverse along with various other topics like AI and Fintechs. The conference will be held in Toronto between the 15th and 17th of November. It…
Digital asset investment products lost a total of $1 billion in small transactions of up to $9 million between Aug. 15 and Aug. 21, shrinking to 55% off the year average and the second lowest level of 2022, Coinshares’ weekly report indicates. Weekly Crypto Asset Flows The majority of the losses came from the U.S.,…
One week after reporting a 9% decline in loan agreements through its lending desk, Genesis has reportedly laid off 20% of its workforce, and CEO Michael Moro is stepping down. Genesis Trading announced today that its leadership team will be reshuffled with immediate effect. To that effect, Chief Operating Officer Derar Islim will take over…
San Francisco-based exchange company Kraken‘s CEO Jesse Powell recently told Bloomberg that he was still bullish on Bitcoin and hoped to buy one Bugatti for one Bitcoin by the end of 2022. Powell joined Bloomberg Exclusive, where he was reminded of his forecasts from last year. When Powell was hosted by the same show in 2021…