Crypto | Ethereum | Bitcoin

💰 KPMG calls for stronger custodial practices to boost Bitcoin adoption Global accounting firm KPMG believes that strong custodial practices are key to boosting Bitcoin (BTC) adoption among institutions and businesses. According to its recent report titled “The Importance of Custodians in Bitcoin Adoption and Ownership,” custodians play a crucial role in safeguarding Bitcoin holdings and are vital for the industry’s growth. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years. 🤝 @Cryptocurrency_Inside ✅

🇺🇸 SEC Takes Action Against Fake Crypto Platforms Using Social Media to Deceive Investors The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from unsuspecting investors. The charges mark the first SEC enforcement actions against such scams. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

🟠 Binance reiterates assertion it never owned or controlled WazirX amid ongoing $230 million hack fallout Crypto exchange giant Binance reiterated its claim that it does not own, control or operate WazirX in any way and accused a director of its parent company of making “misleading statements” to the contrary on Tuesday. WazirX suffered an exploit resulting in the unauthorized transfer of over $230 million worth of crypto assets on July 18. The exploit targeted the exchange’s multisig wallet on the Ethereum network, potentially resulting from a private key compromise, and drained the funds. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

💰 #Polygon's POL token surges after Binance listing, marking end of MATIC migration Polygon's POL token spiked higher by more than 15% Friday morning. The move appears to be related to POL being listed on Binance, the world's largest crypto exchange, and marks the unofficial end of the MATIC migration. In July, Polygon announced the MATIC token would upgrade to POL on Sept. 4 after a year of community-led discussions. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

🪙 ETH's underperformance tied to current crypto market structure: Coinbase Apart from declining network activity and token inflation, ether's recent underperformance compared to its peers likely stems from broader market factors following the deleveraging event in early August, according to an analyst at Coinbase. "#Ethereum’s network activity and supply inflation are important factors to consider in its underperformance, but we also think the price action has been driven by the current market structure," Coinbase Global Head of Research David Duong said in a report. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

💰 Grayscale launches new #XRP closed-end fund, token jumps 8% Grayscale said Thursday it's planning to launch an "closed-end" fund that will allow investors to gain exposure to the popular token. The firm once managed an XRP fund it then shut down in 2021 after the U.S. Securities and Exchange Commission sued Ripple and argued that the digital asset XRP is a security under U.S. law. Ripple, which utilizes XRP, the native asset of the XRP Ledger, is the company most closely associated with the token. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

🇬🇧 UK Parliament proposes legislation to recognize digital assets as personal property The Law Commission of the United Kingdom (UK) Parliament introduced the Property (Digital Assets, etc.) Bill on Sept. 11 to recognize digital holdings legally. The proposed legislation deems crypto, non-fungible tokens (NFTs), and carbon credits personal property under British law. This marks the first time in British history that assets will be definitively included in the scope of English and Welsh property law. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

🥇 Jim Bianco says Bitcoin ETFs have failed to attract TradFi or ‘boomer’ investors Jim Bianco, a macro expert, recently shared his views on why Bitcoin ETFs have failed to drive adoption among TradFi investors, or “boomers.” He highlighted several factors explaining this shortfall while highlighting the shift from inflows to outflows and record losses for ETF holders. Bianco noted that Bitcoin ETF holders are facing a substantial $2.2 billion in unrealized losses, as the average purchase price for BTC ETFs stands at $61,000, based on Friday’s Spot BTC close of $52.9k. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹

💰 World’s 4th Largest Power Company Looks into Bitcoin Mining Through Subsidiary Agile Energy X – a company incorporated in Tokyo, Japan, and a subsidiary of the Tokyo Electric Power Company (TEPCO), is reportedly tapping into Bitcoin mining. According to recent coverage, the firm looks to expand its capabilities through Bitcoin mining, banking that it can prevent waste of excess renewable energy. It’s important to note that TEPCO is the largest electric utility company in Japan and also the 4th largest in the world. Source 🔹 @Crypto_Ethereum_Bitcoin 🔹