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The next level in the crypto market. But note that this is more of a correction than a bull 🐂 run.
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Cryptopolitan
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Bitcoin Makes Way to $65K As Powell Decides to Cut Interest Rates
Wake up, bulls! It’s your time to shine. Federal Reserve chairman Jerome Powell has finally agreed to cut America’s interest rates next month ahead of the presidential election.
Bitcoin was quick to react, even before Powell said “the time has come for monetary policy changes” during his speech at Jackson Hole, Wyoming.
He has made it clear that the Fed is ready to tweak its policies based on the current economic situation, with inflation cooling down and the job market getting weaker.
He didn’t give exact details on when or how much the cuts will be, but the message was clear: rate cuts are on the way
At press time Bitcoin was trading around $61,524.92, with a slight uptick, making its way straight to the next major critical level at $65,000.
The Moving Averages, for instance, are lining up nicely. The price is above the 50-day and 100-day Simple Moving Averages, and it’s closing in on the 200-day SMA.
This alignment usually signals strong support levels, giving traders confidence that Bitcoin isn’t going to drop off a cliff anytime soon. Of course, the strong bullish reversal indicator double bottom also appeared at around $59,000.
The MACD is also flashing bullish signals, with its line sitting at 43.69, above the signal line at 124.97, with a positive histogram to boot. This all points to momentum building in Bitcoin’s favor.
Even the RSI is showing strength, sitting at 62.20. It’s not quite in overbought territory yet, which means there’s a lot of room for Bitcoin to climb.
Bitcoin was quick to react, even before Powell said “the time has come for monetary policy changes” during his speech at Jackson Hole, Wyoming.
He has made it clear that the Fed is ready to tweak its policies based on the current economic situation, with inflation cooling down and the job market getting weaker.
He didn’t give exact details on when or how much the cuts will be, but the message was clear: rate cuts are on the way
At press time Bitcoin was trading around $61,524.92, with a slight uptick, making its way straight to the next major critical level at $65,000.
The Moving Averages, for instance, are lining up nicely. The price is above the 50-day and 100-day Simple Moving Averages, and it’s closing in on the 200-day SMA.
This alignment usually signals strong support levels, giving traders confidence that Bitcoin isn’t going to drop off a cliff anytime soon. Of course, the strong bullish reversal indicator double bottom also appeared at around $59,000.
The MACD is also flashing bullish signals, with its line sitting at 43.69, above the signal line at 124.97, with a positive histogram to boot. This all points to momentum building in Bitcoin’s favor.
Even the RSI is showing strength, sitting at 62.20. It’s not quite in overbought territory yet, which means there’s a lot of room for Bitcoin to climb.
The upward movement in the crypto market is due to this.
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Ether Wiz
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🚨 Breaking News: Powell Ignites Market Surge with Major Announcement! 🚨
1 Powell’s Bold Statements:
🔸 Jerome #Powell shook the markets today, revealing that the US Federal Reserve is set to lower interest rates! 📉
🔸 His confidence is soaring as he believes **inflation** is on track to hit the 2% target!
🔸 Powell also acknowledged the **labor market** is cooling down from its overheated state.
🔸 The size of the rate cut will depend on incoming data and the economic outlook. The Fed is ready to act!
2⃣ **Market Reactions:**
🚀 **Bitcoin** skyrocketed by over 1%, reaching a new high of **$61,900**!
📈 **Nasdaq** (+1.7%) and **S&P 500** (+1.2%) surged, while **gold** climbed 1%!
📉 **10-year Treasury yield** dropped by 5 basis points to 3.80%.
💥 The **US Dollar index** took a hit, sliding by 0.6%!
3⃣ **Rate Cut Speculation:**
🔍 Will it be **25** or **50 basis points**? Market whispers suggest a 25bps cut, but the odds of a 50bps move just jumped from **24% to 32.5%**!
4⃣ **Eyes on Data:**
📊 All eyes are on the upcoming **August employment** and **inflation reports**—these will be the final pieces of the puzzle for the Fed’s decision.
**Powell’s words have set the stage for a potential game-changing rate cut! The markets are on fire, but the next move depends on the data. Stay tuned for more market-shaking updates!** 🔥
🔸 Jerome #Powell shook the markets today, revealing that the US Federal Reserve is set to lower interest rates! 📉
🔸 His confidence is soaring as he believes **inflation** is on track to hit the 2% target!
🔸 Powell also acknowledged the **labor market** is cooling down from its overheated state.
🔸 The size of the rate cut will depend on incoming data and the economic outlook. The Fed is ready to act!
2⃣ **Market Reactions:**
🚀 **Bitcoin** skyrocketed by over 1%, reaching a new high of **$61,900**!
📈 **Nasdaq** (+1.7%) and **S&P 500** (+1.2%) surged, while **gold** climbed 1%!
📉 **10-year Treasury yield** dropped by 5 basis points to 3.80%.
💥 The **US Dollar index** took a hit, sliding by 0.6%!
3⃣ **Rate Cut Speculation:**
🔍 Will it be **25** or **50 basis points**? Market whispers suggest a 25bps cut, but the odds of a 50bps move just jumped from **24% to 32.5%**!
4⃣ **Eyes on Data:**
📊 All eyes are on the upcoming **August employment** and **inflation reports**—these will be the final pieces of the puzzle for the Fed’s decision.
**Powell’s words have set the stage for a potential game-changing rate cut! The markets are on fire, but the next move depends on the data. Stay tuned for more market-shaking updates!** 🔥
In May, the crypto market rebounded, with several tokens experiencing notable increases. Uniswap (UNI) led the way with a 53.59% increase, followed by Chainlink (LINK) with a 39.69% rise, and Chiliz (CHZ) which climbed 38.44%. This positive trend was driven by a broader market rally, particularly influenced by Bitcoin's performance.
Ethereum ETFs Approved As Market Volatility Peaks
In the past week, The U.S. Securities and Exchange Commission (SEC) has approved eight spot ETFs for Ether (the native coin of the Ethereum network). This marks a milestone for Ether, not just because it is the second ever cryptocurrency to receive this treatment, following Bitcoin’s approval, but more importantly because it enables more traditional investors to gain exposure to the asset. The approval also coincided with a notable increase in Ether’s price, edging closer to $4,000, whilst the broader market showed mixed reactions, with Bitcoin experiencing slight dips but maintaining a strong position around $68,000.
Just like other ETFs (Exchange Traded Funds), this is a financial instrument that will track the price of Ether and is traded on traditional stock exchanges. The benefit of this approach is that it can allow investors to gain exposure to Ether without directly purchasing the cryptocurrency itself, as well as being closely regulated and familiar to those that prefer more traditional approaches to investing.
Looking at the bigger picture, the approval of the Ethereum ETFs is predicted by some analysts to have several key impacts:
Increased Institutional Investment: ETFs provide a gateway for institutional investors who are hesitant to invest directly in cryptocurrencies due to regulatory and security concerns.
Market Volatility: The announcement of the ETF approvals has already appeared to make some impact on Ether’s volatility, with Ether inching closer to the $4,000 mark. Once the ETFs begin trading, it can be expected that Ether will see volatility similar to that of Bitcoin when its ETFs were launched.
Liquidity: ETFs generally improve market liquidity and this increased liquidity can lead to better market efficiency.
Whilst it’s still to be seen how the market reacts when the ETFs go live, what is certain is that this is another step closer to adoption of cryptocurrencies more widely.
In the past week, The U.S. Securities and Exchange Commission (SEC) has approved eight spot ETFs for Ether (the native coin of the Ethereum network). This marks a milestone for Ether, not just because it is the second ever cryptocurrency to receive this treatment, following Bitcoin’s approval, but more importantly because it enables more traditional investors to gain exposure to the asset. The approval also coincided with a notable increase in Ether’s price, edging closer to $4,000, whilst the broader market showed mixed reactions, with Bitcoin experiencing slight dips but maintaining a strong position around $68,000.
Just like other ETFs (Exchange Traded Funds), this is a financial instrument that will track the price of Ether and is traded on traditional stock exchanges. The benefit of this approach is that it can allow investors to gain exposure to Ether without directly purchasing the cryptocurrency itself, as well as being closely regulated and familiar to those that prefer more traditional approaches to investing.
Looking at the bigger picture, the approval of the Ethereum ETFs is predicted by some analysts to have several key impacts:
Increased Institutional Investment: ETFs provide a gateway for institutional investors who are hesitant to invest directly in cryptocurrencies due to regulatory and security concerns.
Market Volatility: The announcement of the ETF approvals has already appeared to make some impact on Ether’s volatility, with Ether inching closer to the $4,000 mark. Once the ETFs begin trading, it can be expected that Ether will see volatility similar to that of Bitcoin when its ETFs were launched.
Liquidity: ETFs generally improve market liquidity and this increased liquidity can lead to better market efficiency.
Whilst it’s still to be seen how the market reacts when the ETFs go live, what is certain is that this is another step closer to adoption of cryptocurrencies more widely.
There's a common misconception that crypto is more of a tool for financial crime than traditional assets. However, data from Europol suggests that assets such as real estate are far more prevalent tools for money laundering.
As the ecosystem continues to expand and innovate, Shiba Inu remains a notable digital asset with the potential for further growth and market influence.
Shiba Inu’s resilience and strategic initiatives have solidified its place in the cryptocurrency market and paved the way for its bullish sentiment.
The increase in long-term investors, coupled with the impactful burning program and Shibarium’s advancements, collectively contribute to a promising future for SHIB.
Shiba Inu’s resilience and strategic initiatives have solidified its place in the cryptocurrency market and paved the way for its bullish sentiment.
The increase in long-term investors, coupled with the impactful burning program and Shibarium’s advancements, collectively contribute to a promising future for SHIB.
This are lessons turned strategic investment or trading plan
🎤🎤🎤Here are 7 important lessons I learned along the way🎤🎤🎤
$BTC $BNB $ETH I left my 9-5 job to focus on day trading at the age of 22, and my income increased from $50k annually to $15k per month.
1. Managing risk is crucial for consistent profits. It's not just about potential gains, but also about limiting losses to stay in the game.
2. Continuous education is essential as the markets are constantly evolving. I invested in books, courses, and webinars to improve my trading decisions.
3. Maintaining discipline and sticking to my trading rules was challenging but ultimately rewarding.
4. Emotional control is vital in dealing with both financial losses and the psychological impact they can have.
5. It is important to be able to recover emotionally from losses as well as financially.
6. Keeping a trade journal may seem tedious, but it became a valuable tool for analyzing my trades and learning from mistakes.
7. Patience is key in trading. Waiting for the right opportunities can make a significant difference in profitability compared t#o constantly trading.
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
#HotTrends #Lounchpool
$BTC $BNB $ETH I left my 9-5 job to focus on day trading at the age of 22, and my income increased from $50k annually to $15k per month.
1. Managing risk is crucial for consistent profits. It's not just about potential gains, but also about limiting losses to stay in the game.
2. Continuous education is essential as the markets are constantly evolving. I invested in books, courses, and webinars to improve my trading decisions.
3. Maintaining discipline and sticking to my trading rules was challenging but ultimately rewarding.
4. Emotional control is vital in dealing with both financial losses and the psychological impact they can have.
5. It is important to be able to recover emotionally from losses as well as financially.
6. Keeping a trade journal may seem tedious, but it became a valuable tool for analyzing my trades and learning from mistakes.
7. Patience is key in trading. Waiting for the right opportunities can make a significant difference in profitability compared t#o constantly trading.
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
#HotTrends #Lounchpool
What's your thoughts on this?
Quoted content has been removed
Despite a blanket ban on cryptocurrencies in China, legal arguments for defining bitcoins as personal property have gained a lot of traction from the local Chinese courts.
The latest recognition from one of the key courts in Shanghai comes despite the hostile attitude of the Chinese government toward Bitcoin. China imposed a blanket ban on all forms of cryptocurrency activities, including Bitcoin mining, in 2021. However, several courts in China have recognized Bitcoin and other digital assets as legal properties protected by law.
The latest recognition from one of the key courts in Shanghai comes despite the hostile attitude of the Chinese government toward Bitcoin. China imposed a blanket ban on all forms of cryptocurrency activities, including Bitcoin mining, in 2021. However, several courts in China have recognized Bitcoin and other digital assets as legal properties protected by law.
The price of Ethereum could reach $3,000 in the next crypto bull market and perhaps even as high as $10,000, according to a prediction by Google AI, Google Bard. However, there are also some risks that could prevent Ethereum (ETH) from reaching this level.
Bard, the language model from Google AI, has analyzed the historical performance of Ethereum and other cryptocurrencies, as well as the factors that could influence the market in the future. Bard’s prediction is based on the assumption that the next bull market will be driven by the development of decentralized finance (DeFi) and the metaverse.
DeFi is a rapidly growing ecosystem of financial applications that are built on blockchain technology. Simultaneously, the metaverse, a virtual domain championed by industry giants like Meta and Microsoft, is rapidly taking shape.
Bard believes that the development of DeFi and the metaverse will create a lot of demand for Ethereum. This is because Ethereum is the leading platform for building decentralized applications, and as the demand for Ethereum increases, Bard believes so too will its price.
Bard, the language model from Google AI, has analyzed the historical performance of Ethereum and other cryptocurrencies, as well as the factors that could influence the market in the future. Bard’s prediction is based on the assumption that the next bull market will be driven by the development of decentralized finance (DeFi) and the metaverse.
DeFi is a rapidly growing ecosystem of financial applications that are built on blockchain technology. Simultaneously, the metaverse, a virtual domain championed by industry giants like Meta and Microsoft, is rapidly taking shape.
Bard believes that the development of DeFi and the metaverse will create a lot of demand for Ethereum. This is because Ethereum is the leading platform for building decentralized applications, and as the demand for Ethereum increases, Bard believes so too will its price.
This is a short term bearish for PayPal stablecoin .
What you think ?
What you think ?
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Crypto PM
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Bearish
- Bank of America's research report suggests that PayPal's new stablecoin, PayPal USD (#PYUSD ), is unlikely to gain significant adoption in the short term.
- Despite offering payment efficiencies and improved customer experiences, PYUSD faces competition from central bank #digital #currencies (CBDCs) and yield-bearing stablecoins in the long run.
- Yield-bearing stablecoins with rates over 5% are expected to become more attractive compared to non-yield bearing options like #USDT and USDC.
- Investors are expected to prefer safe and easily accessible #stablecoins on major trading platforms, regardless of the specific choice.
- The launch of PYUSD is not projected to bring rapid regulatory clarity or alter systemic risk in traditional markets, according to Bank of America.
- PYUSD could encounter regulatory challenges if stablecoin issuance becomes restricted to banks.
- PayPal's entry into the stablecoin market targets blockchain-enabled asset transfers, payments, and remittances in untapped areas.
- The report indicates that widespread adoption of PYUSD might be gradual due to competition and possible regulatory obstacles.
$BTC $BNB $ETH
- Despite offering payment efficiencies and improved customer experiences, PYUSD faces competition from central bank #digital #currencies (CBDCs) and yield-bearing stablecoins in the long run.
- Yield-bearing stablecoins with rates over 5% are expected to become more attractive compared to non-yield bearing options like #USDT and USDC.
- Investors are expected to prefer safe and easily accessible #stablecoins on major trading platforms, regardless of the specific choice.
- The launch of PYUSD is not projected to bring rapid regulatory clarity or alter systemic risk in traditional markets, according to Bank of America.
- PYUSD could encounter regulatory challenges if stablecoin issuance becomes restricted to banks.
- PayPal's entry into the stablecoin market targets blockchain-enabled asset transfers, payments, and remittances in untapped areas.
- The report indicates that widespread adoption of PYUSD might be gradual due to competition and possible regulatory obstacles.
$BTC $BNB $ETH
Web3 gaming investments experienced a notable resurgence in July, climbing to $297 million, bolstered by strategic partnerships and significant announcements.
In June 2023, funds going into Web3 gaming dropped to its lowest for the year at $68 million. This was mainly because of tough challenges in the market, data from DappRader showed on Thursday.
Currently, there are about 712,611 unique active wallets used daily in this sector, according to DappRadar’s report. This marks a tiny 0.5% drop from last month, but it still makes up 41% of the industry’s activity.
In July, infrastructure projects were found to have garnered the majority of investments, amounting to $187 million, or 63% of the total funds allocated.
In June 2023, funds going into Web3 gaming dropped to its lowest for the year at $68 million. This was mainly because of tough challenges in the market, data from DappRader showed on Thursday.
Currently, there are about 712,611 unique active wallets used daily in this sector, according to DappRadar’s report. This marks a tiny 0.5% drop from last month, but it still makes up 41% of the industry’s activity.
In July, infrastructure projects were found to have garnered the majority of investments, amounting to $187 million, or 63% of the total funds allocated.
Bloomberg Intelligence crypto market analyst Jamie Coutts predicts PayPal’s new PayPalUSD (PYUSD) stablecoin will have a huge impact on Ethereum (ETH).
Coutts says that there is massive growth potential for Ethereum even if just a small percentage of PayPal’s existing customer base adopts the stablecoin, which aims to keep a 1:1 peg to the US dollar and is built on Ethereum.
Coutts says that there is massive growth potential for Ethereum even if just a small percentage of PayPal’s existing customer base adopts the stablecoin, which aims to keep a 1:1 peg to the US dollar and is built on Ethereum.
Here are 9 reasons why to be bullish on Ethereum.
• The biggest new projects are choosing to launch on ETH (PayPal stable coin, Worldcoin etc.)
• The ETH L2 thesis only continues to gain traction: Base launch, TVL at highs + strongest funding of any sector (zkSync, Starknet, Linea etc.)
• $ETH staking ratio continues to climb + has led to the rise of LSDs
• ETH total fee revenue is higher than all other protocols combined
• ETH continues to exhibit deflationary flows
• EIP4844 is on the horizon (set to substantially reduce fees on L2s)
• NFT collections continue to migrate to ETH (degods + y00ts)
• Many L1s are pivoting back towards ETH, Fantom adding optimism rollups, Frax launching an L2 etc.
• SEC "safe"? Labelled commodity by the CFTC + wasn't named as a security in any lawsuit (bar NYAG case)
• The biggest new projects are choosing to launch on ETH (PayPal stable coin, Worldcoin etc.)
• The ETH L2 thesis only continues to gain traction: Base launch, TVL at highs + strongest funding of any sector (zkSync, Starknet, Linea etc.)
• $ETH staking ratio continues to climb + has led to the rise of LSDs
• ETH total fee revenue is higher than all other protocols combined
• ETH continues to exhibit deflationary flows
• EIP4844 is on the horizon (set to substantially reduce fees on L2s)
• NFT collections continue to migrate to ETH (degods + y00ts)
• Many L1s are pivoting back towards ETH, Fantom adding optimism rollups, Frax launching an L2 etc.
• SEC "safe"? Labelled commodity by the CFTC + wasn't named as a security in any lawsuit (bar NYAG case)
Payments giant PayPal revealed that it will introduce a stablecoin tied to the US dollar on Monday.
The stablecoin, dubbed PYUSD, can be transferred between PayPal and any compatible external wallets. With the stablecoin, users can pay for purchases and convert the token to any supported cryptocurrency.
As might be expected, PayPal’s decision to join the stablecoin game has drawn significant interest — as well as criticism — from the Web3 community.
In particular, concerns have been raised on social media that PYUSD is, at its heart, a centralized digital asset operated by one of the world’s biggest regulated payments company. In practice, this means that PYUSD tokens can be frozen and seized.
The stablecoin, dubbed PYUSD, can be transferred between PayPal and any compatible external wallets. With the stablecoin, users can pay for purchases and convert the token to any supported cryptocurrency.
As might be expected, PayPal’s decision to join the stablecoin game has drawn significant interest — as well as criticism — from the Web3 community.
In particular, concerns have been raised on social media that PYUSD is, at its heart, a centralized digital asset operated by one of the world’s biggest regulated payments company. In practice, this means that PYUSD tokens can be frozen and seized.
Challenging Environment for Crypto as Coinbase transaction volume down 70%
While Bitcoin price flourished this year, gaining 74% since January, the broad cryptocurrency market remains deteriorated compared to 2022. Coinbase published its second-quarter earnings on Thursday, revealing plunged volumes.
The exchange had its consumer and institutional transaction volumes dipping by 70% and 54%, respectively, YoY during the quarter. Coinbase stated that decreased overall crypto market capitalization contributed to its unwelcoming numbers.
Crypto market cap hovered at $2.2
The exchange had its consumer and institutional transaction volumes dipping by 70% and 54%, respectively, YoY during the quarter. Coinbase stated that decreased overall crypto market capitalization contributed to its unwelcoming numbers.
Crypto market cap hovered at $2.2
Ethereum (ETH) Price Deviation Suggests Bearish Outlook – But Can it Gain on Bitcoin?
The Ethereum (ETH) price has decreased since it deviated above the $1,950 horizontal resistance area in April. This is considered a decisively bearish sign.
In brief:
✔️Ethereum (ETH) price has deviated above the $1,950 horizontal resistance area. This is a bearish sign that means the trend is bearish until the price reclaims this area.
✔️The ETH/BTC chart shows a bullish pattern that has developed over the past 7 months. A breakout from this pattern is expected, which could lead to a considerable increase.
✔️Reclaiming the $1,950 area will mean that the ETH/USD trend is bullish while a breakdown from the wedge will mean that the ETH/BTC trend is bearish.
The Ethereum (ETH) price has decreased since it deviated above the $1,950 horizontal resistance area in April. This is considered a decisively bearish sign.
In brief:
✔️Ethereum (ETH) price has deviated above the $1,950 horizontal resistance area. This is a bearish sign that means the trend is bearish until the price reclaims this area.
✔️The ETH/BTC chart shows a bullish pattern that has developed over the past 7 months. A breakout from this pattern is expected, which could lead to a considerable increase.
✔️Reclaiming the $1,950 area will mean that the ETH/USD trend is bullish while a breakdown from the wedge will mean that the ETH/BTC trend is bearish.
The top 10 #blockchains with the highest TVL in 2023
#Ethereum $53.45B
#Tron $5.64B
#BSC $3.79B
#Arbitrum $2.45B
#Polygon $1.21B
#Optimism $1.04B
#Avalanche $832.45M
#Solana $644.35M
#Mixin $449.59M
#Cronos $337.21M
Which #Cryptocurrencies will surpass $ETH In terms of TVL?
#Ethereum $53.45B
#Tron $5.64B
#BSC $3.79B
#Arbitrum $2.45B
#Polygon $1.21B
#Optimism $1.04B
#Avalanche $832.45M
#Solana $644.35M
#Mixin $449.59M
#Cronos $337.21M
Which #Cryptocurrencies will surpass $ETH In terms of TVL?
What a strategic alliance between Deloitte and chainalysis.
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Cryptopolitan
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Deloitte and Chainalysis Form Strategic Alliance to Enhance Digital Asset Compliance Solutions
In a transformative move set to redefine the landscape of digital asset compliance, two industry giants, Deloitte and Chainalysis, have joined forces to announce a strategic alliance. With the soaring adoption of digital assets and the evolving regulatory landscape, businesses face unprecedented challenges in navigating the complex world of risk management and compliance. In response to these pressing demands, Deloitte, a global leader in professional services, and Chainalysis, a trailblazing blockchain data platform, have united to offer their mutual clients an innovative suite of solutions and services.
With regulators clarifying their expectations around digital assets and financial institutions developing strategies, the collaboration seeks to meet the rising demand for risk management technology solutions and services in the ever-evolving digital asset landscape.
Meeting Market Demand for Risk Management Solutions
As the adoption of digital assets continues to gain momentum, so do the compliance challenges faced by organizations operating in this space. Law enforcement agencies and regulators are keen to bolster their blockchain tracing capabilities to combat illicit activities, while financial institutions seek to build robust digital asset strategies. Recognizing the pressing need to bridge these transformation gaps, Deloitte and Chainalysis are pooling their expertise to deliver collaborative solutions that enhance risk mitigation and revenue growth.
Thomas Stanley, President, and Chief Revenue Officer of Chainalysis emphasized the significance of the alliance in addressing market demands, saying, “For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue.”
Empowering Clients with Cutting-edge Compliance Programs
The strategic alliance between Deloitte and Chainalysis will empower mutual clients with access to state-of-the-art forensic, investigative, and compliance programs. By combining Chainalysis ‘ comprehensive blockchain analytics and investigation capabilities with Deloitte’s proficiency in cryptocurrency and digital asset risk management, anti-money laundering (AML), know-your-customer (KYC) practices, and regulatory compliance, clients will benefit from a holistic approach to digital asset compliance.
Moreover, the alliance will enable Deloitte to expand its pool of practitioners trained and certified in Chainalysis products, enhancing its ability to support clients with blockchain analytics and investigations. Tim Davis, Deloitte’s Advisory Blockchain and Digital Asset practice lead and principal, Deloitte & Touche LLP, reaffirmed the firm’s commitment to their clients, stating, “As digital asset adoption and proliferation continue, Deloitte is committed to advising our clients on leading thinking and approaches to risk management, analytics use, and regulatory compliance. Our new alliance with Chainalysis is another demonstration of Deloitte’s investment in its digital asset innovation ecosystem for the benefit of our clients.”
Conclusion
The strategic alliance between Deloitte and Chainalysis comes as a timely response to the increasing complexities of compliance in the digital asset ecosystem. By combining Chainalysis’ advanced blockchain dataset and analytics software with Deloitte’s expertise, the collaboration aims to offer mutual clients unparalleled access to cutting-edge compliance programs. As digital asset adoption and regulatory expectations evolve, the alliance is poised to play a pivotal role in helping organizations navigate the challenges of risk management, analytics use, and regulatory compliance.
With regulators clarifying their expectations around digital assets and financial institutions developing strategies, the collaboration seeks to meet the rising demand for risk management technology solutions and services in the ever-evolving digital asset landscape.
Meeting Market Demand for Risk Management Solutions
As the adoption of digital assets continues to gain momentum, so do the compliance challenges faced by organizations operating in this space. Law enforcement agencies and regulators are keen to bolster their blockchain tracing capabilities to combat illicit activities, while financial institutions seek to build robust digital asset strategies. Recognizing the pressing need to bridge these transformation gaps, Deloitte and Chainalysis are pooling their expertise to deliver collaborative solutions that enhance risk mitigation and revenue growth.
Thomas Stanley, President, and Chief Revenue Officer of Chainalysis emphasized the significance of the alliance in addressing market demands, saying, “For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue.”
Empowering Clients with Cutting-edge Compliance Programs
The strategic alliance between Deloitte and Chainalysis will empower mutual clients with access to state-of-the-art forensic, investigative, and compliance programs. By combining Chainalysis ‘ comprehensive blockchain analytics and investigation capabilities with Deloitte’s proficiency in cryptocurrency and digital asset risk management, anti-money laundering (AML), know-your-customer (KYC) practices, and regulatory compliance, clients will benefit from a holistic approach to digital asset compliance.
Moreover, the alliance will enable Deloitte to expand its pool of practitioners trained and certified in Chainalysis products, enhancing its ability to support clients with blockchain analytics and investigations. Tim Davis, Deloitte’s Advisory Blockchain and Digital Asset practice lead and principal, Deloitte & Touche LLP, reaffirmed the firm’s commitment to their clients, stating, “As digital asset adoption and proliferation continue, Deloitte is committed to advising our clients on leading thinking and approaches to risk management, analytics use, and regulatory compliance. Our new alliance with Chainalysis is another demonstration of Deloitte’s investment in its digital asset innovation ecosystem for the benefit of our clients.”
Conclusion
The strategic alliance between Deloitte and Chainalysis comes as a timely response to the increasing complexities of compliance in the digital asset ecosystem. By combining Chainalysis’ advanced blockchain dataset and analytics software with Deloitte’s expertise, the collaboration aims to offer mutual clients unparalleled access to cutting-edge compliance programs. As digital asset adoption and regulatory expectations evolve, the alliance is poised to play a pivotal role in helping organizations navigate the challenges of risk management, analytics use, and regulatory compliance.
The US Democratic presidential candidate Robert F. Kennedy Jr. is sharing his plans for Bitcoin (BTC) if he gets elected in the November 2024 election.
During a speech at a Heal-the-Divide event, the nephew of former president John F. Kennedy says his administration will exempt the conversion of Bitcoin to dollars from capital gains tax.
Kennedy says he also wants the US dollar to be backed with Bitcoin through which the king crypto can help save the greenback.
“The Kennedy administration will begin to back the US dollar with real finite assets such as gold, silver, platinum and Bitcoin, which is the world’s hardest liquid asset to strengthen the US dollar and guarantee its continued success as a world reserve currency. This will include US Treasury Bills, notes and bonds.”
During a speech at a Heal-the-Divide event, the nephew of former president John F. Kennedy says his administration will exempt the conversion of Bitcoin to dollars from capital gains tax.
Kennedy says he also wants the US dollar to be backed with Bitcoin through which the king crypto can help save the greenback.
“The Kennedy administration will begin to back the US dollar with real finite assets such as gold, silver, platinum and Bitcoin, which is the world’s hardest liquid asset to strengthen the US dollar and guarantee its continued success as a world reserve currency. This will include US Treasury Bills, notes and bonds.”