After recovering to near $62,000 on August 13 and 14, Bitcoin continued to decline, hitting a local Dip for the week around $56,000 on August 15.
Since then, BTC has recovered slightly back above the $59,000 mark as bulls attempt to pull the price back to the $60,000 region.
BTC Price Chart – 1 Day | Source: TradingView
Let's join Bitcoin Magazine to review the outstanding news of the week starting from August 12 to August 18, 2024.
US inflation in July came in as expected, which could set the stage for the Federal Reserve to consider cutting interest rates at its upcoming meeting in mid-September.
The consumer price index rose 0.2% in July, the U.S. government reported Wednesday morning. That was up from a 0.1% decline in June and above expectations of a 0.2% gain. Year-over-year, the CPI rose 2.9%, below expectations of 3% and 3% in June.
US inflation data. Source: Trading Economics
The core CPI – which excludes food and energy costs – rose 0.2% in July, in line with expectations and up from a 0.1% increase in June. Year-over-year, the core CPI was 3.2%, in line with expectations and down from 3.3% in June.
US July Inflation Matches Forecasts
Franklin Templeton has filed an S-1 application with the US Securities and Exchange Commission (SEC) to launch a cryptocurrency index ETF.
The proposed fund – the “Franklin Crypto Index ETF” – aims to provide investors with access to the performance of Bitcoin and Ethereum through a regulated financial product.
The proposed ETF would track the CF Institutional Digital Asset Index, which currently only includes BTC and ETH. However, the filing states that the fund may incorporate other cryptocurrencies in the future, depending on regulatory developments and market conditions.
Coinbase Custody Trust Company has been selected as the custodian for the fund's digital assets, while Bank of New York Mellon will manage cash holdings and perform administrative duties.
If approved, the ETF will be listed on the CBOE BZX Exchange under the ticker “EZPZ.”
Franklin Templeton Files S-1 for Crypto Index ETF Including BTC, ETH
The Sandbox (SAND) Price Outlook Remains Negative Even Though 98% of Holder Are Losing Money
AVAX Prepares for $196M Supply Shock Amid Strong Unlock Next Week
Binance Coin (BNB) Aims for Breakout as Bullish Signals Get Stronger
AAVE Price Could See a Strong Surge in the Coming Period
Grayscale, the asset management firm behind Bitcoin (BTC) and Ether (ETH) ETFs and other cryptocurrency investment funds, introduced a new fund on Tuesday that invests in the Governance Token of decentralized lending platform MakerDAO (MKR).
According to the press release, the Grayscale MakerDAO Trust is only accessible to accredited individual and institutional investors, and is structured similarly to the company’s other single-asset trusts. This means it is a closed-end fund that cannot be withdrawn directly, which can lead to price differences between the fund’s shares on the secondary market and the underlying assets.
Grayscale Introduces Cryptocurrency Fund for MakerDAO’s MKR
Hamster Kombat Rejects All Venture Capital Offers
TapSwap Game Adds City Building Mode Linked to Token Airdrop
Layer 2 Shiba Inu Supports Meme Gaming and Play-to-Earn
Telegram Launches New Way for Creators to Earn TON Token
Uniswap Announces $2.5M Security Fund for v4 Upgrade as Most UNI Holder Lose Money
EigenLayer Implements Permissionless Token Support
MetaMask and Mastercard Launch Debit Card That Lets You Spend From Your Ethereum Wallet
Optimism is developing a native interoperability system for Layer 2 chains
Symbiotic launches Devnet, plans full mainnet in Q3
DYDX Prepares Major Upgrade for Blockchain Network DYDX Chain
Binance exchange has reappeared on India’s Google Play Store and Apple App Store after a seven-month ban for failing to comply with local regulations.
On August 15, the Binance website and Android and iOS apps were made available to crypto investors in India. The exchange confirmed that it has registered as a reporting entity with the Financial Intelligence Unit of India (FIU-IND) – a regulatory requirement for all crypto exchanges operating in India to combat money laundering.
Binance Returns to India as Registered Crypto Exchange After 7-Month Ban
Binance July Report: Crypto Market Cap Up 6.1% – DeFi TVL Up 3.5%
US Appeals Court Overturns HEX Manipulation Case Against Binance.US
Binance Ends Dispute With CVM Brazil With $1.7 Million Payment
US-based Ethereum spot ETFs had their first week of positive net Capital since launching on July 23.
According to ETF tracker SoSoValue, nine newly launched Ether spot ETFs in the United States had a total positive Capital inflow of $104.8 million in the week beginning August 5 with a total of $1.9 billion traded, bringing total net assets to $7.3 billion as of August 9.
The Capital come amid a sharp 23% drop in the price of the underlying asset Ether since the beginning of August.
US Spot Ethereum ETF Records First Positive Week Since Launch
Wisconsin Pension Fund Increases Stake in BlackRock’s Bitcoin ETF
Nasdaq ISE Withdraws Proposal for Bitcoin and Ethereum ETF Spot Options Trading
Jeremy Allaire, CEO of stablecoin company Circle, said the company is planning to introduce tap-and-go payments on iPhones following a move from Apple to open up the development of secure iPhone payment chips to third-party developers.
In a statement on August 14, California-based tech giant Apple said it will expand the use of its NFC chip and Secure Element (SE) to third-party app developers, paving the way for developers to integrate blockchain-based payment functionality into Apple devices.
Allaire explained that Apple opening up access to its NFC chip would apply to “a lot of things” beyond USDC, including Non-Fungible Token for tickets, other certificates, and other stablecoins like EURC.
USDC Embraces Tap-and-Go Payments After Apple Expands NFC
BlackRock Could Launch Its Own Blockchain With $10 Trillion AUM
Singapore's largest bank DBS pilots ' Treasury Token' on blockchain platform
Stablecoin Issuance Could Be Key to Bitcoin’s Next Bull Run: 10x Research
NEAR Stablecoin Market Capital Surges 717% in Last 6 Months
PYUSD Stablecoin Supply on Solana Surpasses Ethereum
Stablecoin Growth Doesn’t Sink Crypto Market Share: JPMorgan
Elon Musk has announced the beta version of the Grok-2 AI engine, the successor to Grok-1.5, for users on the X platform. Grok-2 includes two language models: Grok-2 and its “smaller” version, Grok-2 mini.
Both the Grok-2 and Grok-2 mini are available to users with Premium or Premium+ plans on X. They are not offered to standard users.
Elon Musk Introduces Two New AI Versions for X Platform
Coinbase's Brian Armstrong Makes Important Statement About AI
Sahara AI Raises $43 Million to Develop Decentralized, Collaborative AI Platform
5 of the world's 10 most valuable companies are developing metaverse hardware
Non-Fungible Token are fighting for attention from memecoin
DeFi Market Revives as Derivative Soar
According to Thanh Nien newspaper, Le Trung Duc, a credit officer working at a bank branch in Thua Thien - Hue, took advantage of his position to commit a series of sophisticated frauds. By borrowing money from many acquaintances under the legitimate pretext of paying off bank loans, Duc successfully appropriated nearly 1.2 billion VND. This amount, instead of being used for the promised purpose, was converted into gold and invested in Bitcoin on online trading floors.
On August 12, the Office of the Investigation Police Agency (IPA) of Thua Thien - Hue Provincial Police officially issued a decision to prosecute the case, prosecute the accused, and temporarily detain Le Trung Duc (30 years old, residing in Dong Ba Ward, Hue City) for fraud and appropriation of property. This move by the investigation agency sent a strong message about the determination to fight against fraud in the financial sector, especially in the context of the increase in cryptocurrency and gold investment activities that are causing many risks for investors.
Google Faces $5 Million Lawsuit Over Cryptocurrency Theft
China's Elderly: New Victims of Crypto Scam Projects
Canadian Cryptocurrency Exchange Seizes $9.5 Million in Bitcoin and Ether from Users for Gambling
SEC Charges NovaTech Founder in $650 Million Cryptocurrency Scam
South Korean CEO Indicted for Fraud in $365 Million Crypto Scam
12 transactions related to the 2021 AnubisDAO carpet-pulling incident surfaced
Democratic Senator Chuck Schumer, the majority leader in the US Senate, said he aims to pass bipartisan legislation supporting cryptocurrencies by the end of 2024 if Vice President Kamala Harris is elected president.
Speaking at a Crypto4Harris Town Hall meeting — a pro-crypto group pushing for a “reset” of crypto policy during Harris’ presidential campaign — Schumer said lawmakers can no longer afford to be blindsided when it comes to promoting crypto innovation in the United States.
Senator Chuck Schumer Pledges to Enact Pro-Crypto Legislation if Harris Is President
Dubai Approves Crypto Wages in Landmark Court Ruling
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