Cryptobiz

@cryptobiz

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I got my Moxie Pass! Mint yours to be eligible for upcoming airdrops, grants, Fan Tokens and more! cc @betashop.eth @airstack.eth

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Argentina Records First Week of Zero Inflation in 30 Years; Milei Claims He’s Redefining Economic Theory Argentina is reaping its first rewards in the fight against inflation, as a private consulting firm found that the inflation in food and beverages reached 0% during June’s third week. President Javier Milei celebrated this achievement, stating that his administration was rewriting economic theory and that he might receive the Nobel prize if successful. Javier Milei Celebrates Zero Inflation Achievement During June, Claims to Be Rewriting Economic Theory in Argentina Argentina is harvesting the first benefits of its fiscal policies regarding inflation. According to data from Econometrica, a private consulting firm, the country reached an economic achievement, registering zero inflation for food and beverages during June’s third week. The research took prices of over 8,000 articles in several online stores and found that prices didn’t change compared to ones collected the week before.

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Marathon Digital mines $16M in Kaspa to diversify from Bitcoin Marathon is looking to “capitalize on higher margins” possible with Kaspa mining — but one executive stressed the firm is in no way “pivoting” from its main focus, Bitcoin. Bitcoin mining heavyweight Marathon Digital revealed it has mined $16 million worth of Kaspa (KAS) — a token designed to address Bitcoin’s scalability problem — since September to diversify from Bitcoin. In a June 26 announcement, Marathon Digital said the move allowed the firm to “capitalize on the higher margins” possible with Kaspa mining machines, which are up to 95% in some cases. “By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin,” explained Marathon’s chief growth officer, Adam Swick.

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State Street and Galaxy Digital team up to launch active crypto ETF State Street Global Advisors, one of the world's largest investment managers, has partnered with Galaxy Asset Management to launch exchange-traded funds that provide exposure to crypto companies, according to its announcement on Wednesday. According to SSGA’s application with the U.S. Securities and Exchange Commission, the new fund is named the SSGA Active Trust. The application is still pending approval from the regulator. The fund plans to invest in crypto companies’ equity securities, crypto futures ETFs and contracts and spot crypto ETPs, according to the registration filing. Its scope of crypto companies include blockchain software developers, bitcoin miners, exchanges and crypto payment processors.

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JPMorgan says Mt. Gox creditors likely to sell part of bitcoin receivables next month Defunct crypto exchange Mt. Gox will begin distributing bitcoin repayments to creditors next month. These creditors are expected to sell part of their bitcoin receivables, initially pressuring the market but potentially recovering from August onwards, according to JPMorgan analysts. Gemini Earn creditors recently likely liquidated part of their crypto assets received, JPMorgan analysts led by Nikolaos Panigirtzoglou said in a report on Wednesday. "Going forward, a similar downside risk looms in July with Mt. Gox creditors," they said.

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Bitcoin options implied volatility rises sharply on short-dated puts as traders prepare for potential downside swings: analysts The implied volatility of short-dated out-of-the-money bitcoin puts on the CME has increased over the past month as traders anticipate greater price volatility and hedge against the potential for further downside movement, analysts say. According to the CF Benchmarks' Bitcoin Volatility Index, the implied volatility for both short-dated puts and short-dated calls was approximately the same at the end of May, prior to the recent market downturn, during which bitcoin's price has fallen by over 14% in the past month. However, CF Benchmarks analysts are now observing a significant increase in implied volatility for near-term puts compared to their corresponding calls.

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Bitcoin Mining Made Easy: How GoMining Leads the BTC Adoption Through Redefining the Industry's Accessibility As Bitcoin enters a new cycle following the halving event in April 2024, the landscape of Bitcoin mining continues to evolve. https://news.bitcoin.com/bitcoin-mining-made-easy-how-gomining-leads-the-btc-adoption-through-redefining-the-industrys-accessibility/

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Bitcoin ETF ads may appear on Google starting Monday, community speculates The crypto community is pondering the potential impact on spot Bitcoin ETFs, given Google’s handling of 100,000 searches per second.

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SFC flags Floki staking programs as unauthorized The Floki team assured its investors it would go through all appropriate channels to fulfill all requirements with the Hong Kong authorities.

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CFTC seeks feedback on AI use in compliance and market dynamics The CFTC announced that the RFC complements the directives the Biden Administration established for the safe, secure and trustworthy development of artificial intelligence.

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The Nigerian fintech startup, Vella Finance, has reportedly dropped crypto services and will instead focus on providing banking services to small and medium-sized businesses. Co-founder Tolu Adedayo claimed that the decision to drop crypto services was based on business reasons.

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The Nigerian fintech Vella Finance recently informed users and subscribers that it would stop offering crypto related services starting on Oct. 30. According to co-founder Tolu Adedayo, offering crypto and banking services at the same time is not feasible, hence the decision to drop the former.

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