⚡️ News Flash - 04 Aug 2024 !

1️⃣ Prosecutor Seeks Jail Time for Crypto.com User Who Accidentally Received $6.8M

Australian prosecutors seek prison time for a couple who accidentally received and spent nearly $7 million USD from Crypto.com due to a payment error.

2️⃣ Amber Group Demands Transparency Following ZKX Shutdown

Amber Group expressed surprise at ZKX's July 31 shutdown, citing economic challenges. The Ethereum-based Starknet protocol ceased due to financial viability issues.

3️⃣ Fed May Cut Rates by 50 Bps in September, November, and 25 Bps in December, WSJ Reports

Due to a weak jobs report, Citi and JPMorgan expect the Fed to cut rates by 50 bps in September and November, and 25 bps in December. CME data shows a 78% chance of a 25 bps cut in September. JPMorgan predicts rates will drop to 3% by Q3 2025.

4️⃣ Jump Trading Converts $410 Million in wstETH to ETH, Moves Funds to Exchanges

Jump Trading redeemed $410 million worth of 120,000 wstETH for ETH, transferring 66,000 ETH ($191.4 million) to exchanges like Binance and OKX since July 25.

5️⃣ US Spot Bitcoin ETFs Experience Largest Single-Day Outflow in 90 Days

On August 2, U.S. spot bitcoin ETFs experienced their largest single-day outflow in over 90 days, totaling $237.45 million.

#bitcoin☀️ #BinanceTurns7 #BinanceHODLerBANANA #ETH_ETFs_Approval_Predictions #MtGoxJulyRepayments