USDC, the U.S. dollar-pegged stablecoin issued by Circle, has now been officially launched in Brazil and Mexico.

Circle pointed out in a statement released on Tuesday that USDC is currently integrated into the two countries’ official instant payment systems, Brazil’s PIX and Mexico’s SPEI, which allows companies to obtain USDC directly from local financial institutions, thereby eliminating the need for cross-border remittances. cumbersome process.

Circle further stated that in the past, corporate customers had to convert local currencies into U.S. dollars in advance before obtaining USDC, but this new initiative allows customers to directly convert Brazilian Real (BRL) and Mexican Peso (MXN) into USDC. In addition to saving costs, it also greatly shortens the transfer time.

International accounting firm Prager Metis has agreed to pay $745,000 to settle charges filed by the U.S. Securities and Exchange Commission (SEC). The SEC previously accused Prager Metis of issuing a "poor audit report" before the collapse of cryptocurrency exchange FTX, committing misconduct, and accepting FTX as a client without proper understanding of the cryptocurrency market.

The settlement agreement was announced on September 17. It also included the SEC’s resolution to conduct a second investigation into Prager Metis. This investigation accused Prager Metis of violating accounting regulations when conducting accounting audits of more than 200 companies from 2017 to 2020. Provisions on the independence of auditors have been made. Prager Metis agreed to pay a $1.2 million civil penalty plus prejudgment interest to settle the charges, but the settlement must be approved by the court.

Wall Street giant JPMorgan Chase CEO Jamie Dimon said on Tuesday that as the largest banking group in the United States, JPMorgan Chase may be one of the major users of blockchain technology.

When Jamie Dimon was interviewed at the "Financial Market Quality Seminar" on Tuesday, he was asked about his views on innovative technologies such as blockchain and artificial intelligence (AI). He responded, "We may be a large user of blockchain. One is the actual users, the real users," adding, "It's just a database."

However, Jamie Dimon, a long-time skeptic of cryptocurrency, has not changed his negative view of the industry. In the past, he compared Bitcoin to a "Pet Rock" (Pet Rock, a small rock that was popular in the mid-1970s). to become a pet-raising trend), this time he repeated his old tune: "Cryptocurrency... I still call it a pet stone."

The U.S. Federal Reserve (Fed) held an interest rate decision-making meeting. The market expects that an interest rate cut at this meeting is almost a foregone conclusion. As investors prepare for the first interest rate cut in more than four years, the cryptocurrency market moves higher. Bitcoin broke through 61,000 last night (17th) dollar level.

According to CoinGecko market quotations, Bitcoin hit a maximum of $61,242 last night, the highest level in three weeks, and then fell back to $60,249 at the time of writing, but the increase in the past 24 hours was still close to 4%.

Bitcoin is still fluctuating within a relatively narrow range, and it seems difficult to make a breakthrough until the Fed officially announces its latest interest rate decision. According to the "BTC-USDT trading pair" order data of Binance, the world's largest cryptocurrency exchange, there are a large number of sell orders between $61,000 and $62,500, indicating that the possibility of further rises in Bitcoin in the short term is suppressed.

The U.S. Federal Reserve (Fed) held an FOMC interest rate meeting on the 18th today and announced the latest interest rate decision in the early morning of the next day, Taiwan time. The market expects the Fed to cut interest rates for the first time since 2020 at this meeting, and the probability of a two-digit rate cut has reached 67%. The expectation sent the dollar lower, U.S. Treasuries higher and the Dow Jones Industrial Average to new highs.

The Wall Street Journal and Financial Times reported that the Fed considered a two-digit interest rate cut as one of its options, without explicitly refuting this possibility. However, Fed spokesman Timmy Ross said that the extent of this rate cut has not yet been determined. Former Fed senior adviser English believes that the key lies in how the Fed views the balance of economic growth, employment and inflation risks. If growth and employment concerns exceed inflation, they may cut interest rates by two percentage points.

Author: Frank, PANews

In the field of blockchain, MEV (Maximum Extractable Value) has always been a complex issue that cannot be ignored. It refers to the way miners or validators extract additional money by manipulating the ordering, insertion or deletion of transactions in the block. Profit phenomenon, common MEV techniques include sandwich attack, front-running and liquidation arbitrage.

MEV performs differently on different public chains, from common arbitrage transactions on Ethereum, to severe sandwich attacks on Solana, to the MEV potential that is gradually emerging in public chains such as Bitcoin, BSC, and TRON. This article will take stock of the MEV phenomenon in major public chains, analyze its different implementation paths and its potential impact on users and the network.

The mysterious country located at the foot of the Himalayas - "Bhutan" (Bhutan) has actively developed state-owned mining operations in recent years. It has accumulated more than 780 million US dollars worth of Bitcoins, equivalent to three thirds of its gross domestic product (GDP). One percent, becoming the fourth largest “national Bitcoin whale” in the world.

Unlike the United States and Germany, the Bitcoins held by Bhutan do not come from law enforcement seizures, but from the cryptocurrency mining business operated by the sovereign investment institution Druk Holding & Investments (hereinafter referred to as Druk).

Blockchain analysis platform Arkham issued an article stating: "Bhutan has built Bitcoin mining facilities in multiple locations, and the largest mine is located at the former site of the now-defunct Education City project. Since the beginning of 2023, Bhutan's mining business has Rapid growth."

El Salvador President Nayib Bukele announced that he will submit the 2025 budget to the Legislative Assembly on September 30, emphasizing that this will be the first "deficit-free budget" in El Salvador in decades.

Nayib Bukele said at an event celebrating the 203rd anniversary of El Salvador’s independence: “I hereby announce that on September 30 this year we will submit to the Legislative Assembly the first budget in decades that will be fully funded by our own funds. We will not need to Borrowing another penny for current expenses will no longer cost us more than the country produces each year," he added.

The DeFi project led by the Trump family - "World Liberty Financial" was officially launched today (17th). Although details about the project are still very sparse, the project team confirmed earlier that they will launch governance Token "$WLFI".

Zak Folkman, co-founder and chief operating officer of World Liberty Financial, revealed in a live interview on the social platform X Spaces today that $WLFI tokens will not be transferable and will not provide any economic rights. He also emphasized that the team hopes that token buyers They are supporters who want to participate in governance, rather than investors who only want financial returns.

As Turkey's "Amendment to the Capital Market Law" officially came into effect in early July this year, it marked Turkey's entry into a new stage in the supervision of the crypto market. It not only provides a clear supervision framework for the local crypto market, but also provides a clear supervision framework for global crypto asset service providers. (CASPs) (i.e., virtual asset service providers VASPs) entered the Turkish market and opened up and guided a broad avenue.

Turkey’s licensing measure not only reflects the country’s government’s optimistic attitude towards the encryption industry, but also highlights Turkey’s strategic importance in the global cryptocurrency market. In the list published by the Turkish Capital Market Commission (CMB), the country’s regulatory agency, as of September 15, it can be seen that 76 companies are currently interested in conducting business locally in accordance with Turkey’s new regulations, including many leading international exchanges. Such as Binance, Coinbase, Crypto.com and Bitfinex, etc., highlighting the huge prospects of the Turkish crypto market.

Nasdaq-listed company MicroStrategy announced on Monday that it intends to raise $700 million through the sale of "convertible bonds". The proceeds will be used to repurchase corporate debt and increase investment in Bitcoin.

According to MicroStrategy's statement, the company will sell "Convertible Senior Notes (a type of senior debt)" with an aggregate principal amount of US$700 million to qualified institutional buyers through a private placement. The convertible bonds can Converting into shares of the issuing company at a specific time avoids the need to sell shares, which could hurt the stock price.

Cryptocurrency exchange Binance announced yesterday (16th) that it would list "First Neiro on Ethereum (NEIRO)" for spot trading, which spurred the token to soar by more than 900%. At the same time, it also aroused doubts in the community. Due to the Ann already listed the perpetual contract of "Neiro Ethereum (NEIROETH)" at the beginning of the month. Which token is the real NEIRO? It's really confusing.

Binance has listed two NEIRO tokens within two weeks. Although the two have different contract addresses and are operated by different teams, they will inevitably cause confusion among users. In this regard, Binance also specifically mentioned in the announcement:

The closely watched "relative price strength ratio of Ethereum relative to Bitcoin (ETH/BTC ratio)" fell to its lowest level since April 2021, highlighting the decline in investor demand for Ethereum.

Ethereum’s relative price strength ratio against Bitcoin fell below 0.04 on Sunday and was trading at 0.039 during early European trading on Monday, extending the year-to-date loss to nearly 30%.

Looking back over the past five years, the price ratio of Ethereum to Bitcoin rose from 0.02 to a peak of 0.08 in early 2022, which represented a full threefold increase in the price of Ethereum relative to the price of Bitcoin at the time.

cbBTC (Coinbase Wrapped BTC) is an ERC20 token backed by Bitcoin 1:1 launched by Coinbase last week. It is intended to facilitate Coinbase customers to trade Bitcoin at a lower cost and faster speed. However, this new product is facing a lack of Bitcoin. The controversy over the currency reserve certificate originated from Coinbase issuing this Bitcoin token without publishing the corresponding wallet address. The community began to wonder whether this was the so-called "air Bitcoin" and even accused Coinbase of selling cbBTC to BlackRock ( BlackRock).

Coinbase CEO Brian Armstrong came out to clarify this in response to community distrust of the product’s transparency. He said that cbBTC is provided with Bitcoin custody services by the Coinbase exchange itself, and the company’s minting and destruction of BlackRock’s spot Bitcoin ETF is transparent and on-chain, stressing that Coinbase is audited annually by Deloitte. He also mentioned, The company cannot disclose the wallet addresses of institutional clients due to privacy concerns.

Original author: Biteye  

Bitcoin cycle theory, especially in relation to the Bitcoin halving event, has always been regarded as an important tool for predicting Bitcoin price trends. Historically, Bitcoin halvings have typically resulted in price increases, but current market performance and the factors behind it suggest that the validity of this theory may be waning.

This article will review the four Bitcoin cycles from 2011 to 2024 and deeply explore the market changes in the current cycle.

01. The basis of Bitcoin cycle theory

Bitcoin’s mining rewards are halved every 210,000 blocks, which happens approximately every four years. This mechanism is designed to control the supply of Bitcoin, thereby increasing its scarcity. Historically, halving events are usually accompanied by significant increases in Bitcoin prices, forming cycles. For example:

Author: Nancy, PANews

Compared with the previous rotation of evenly affected sectors, the market atmosphere of this bull market has become increasingly deserted. On the other hand, the stablecoin track is still lively. In addition to the continued growth of the existing market size, traditional giants are taking turns to take action, new projects have repeatedly received financing, and product types are increasingly diversified... The stablecoin market is a fierce battle.

Stablecoins continue to expand, with USDT contributing more than half. New projects have grown significantly but are limited in scale.

The growth of stablecoins is often an important clue to the direction of the bull market. CoinGecko data shows that since the beginning of this year, the circulating market value of stablecoins has grown by more than 30.7% (about 39.63 billion U.S. dollars) to 170.26 billion U.S. dollars, accounting for nearly 8.2% of the total market value of the global encryption market, which is about 17.6 billion U.S. dollars away from the historical peak. Among them, the market is still dominated by stablecoins anchored to the US dollar, accounting for approximately 96.2% of the market with a market value of US$164.59 billion.

According to foreign media reports, a Bitcoin mining farm in Hadsel, Norway, was forced to close due to public protests due to noise issues. However, this resulted in a loss of revenue for the power company. After life has returned to tranquility, local residents should now be able to calm down and think carefully about how to face the pressure of rising electricity bills.

After the news was exposed, climate technology venture capitalist Dan Daniel Batten commented: "When politicians attack Bitcoin, it is the people who suffer."

In an interview with the Norwegian Broadcasting Corporation (NRK) on September 13, Kjell-Børge Freiberg, the mayor of Hadsel, said that the high-intensity noise produced by the continuously operating mining machines and cooling equipment in the Bitcoin mine affected about 8,236 local people. Residents have been deeply disturbed and suffered, and now it is finally closed. "We are very, very satisfied."

Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, was convicted of seven counts of fraud and conspiracy and was sentenced to 25 years in prison in March this year. However, he refused to accept the conviction and sentence and formally appealed on September 13. He asked for a retrial and accused the judge in charge of the case of being "unfairly biased" against him.

In November last year, one year after FTX filed for Chapter 11 bankruptcy protection, SBF was convicted of two counts of wire fraud, four counts of conspiracy to commit fraud and one count of conspiracy to commit money laundering. "All seven counts were found guilty"; this year In March, Judge Lewis Kaplan of the District Court for the Southern District of New York sentenced him to 25 years in prison and fined him $11 billion.

After months of decline, Bitcoin is gearing up for a three-month rally, with some analysts predicting it could top $92,000.

Based on past technical models after the halving of Bitcoin mining rewards, Bitcoin prices may be about to embark on a three-month surge, with Bitcoin currently quoted at about $58,697.

Popular cryptocurrency analysis Titan of Crypto points out that Bitcoin recently retested key support levels on the weekly chart, which is expected to pave the way for Bitcoin to rise above $90,000. In a post last week, he said:

The U.S. Federal Reserve (Fed) will announce its latest interest rate decision and updated economic forecast summary this week. As investors wait for these important information, the cryptocurrency market started this week under pressure, with Bitcoin falling back to around $58,500. It gave up almost all of its gains over the weekend.

According to CoinGecko market data, Bitcoin fell nearly 3% today (16th), changing hands at $58,447 at the time of writing; the top 10 cryptocurrencies fell across the board, with Ethereum falling the most, falling 5.6% to $2,280 in the past 24 hours.

According to data from Coinglass, the cryptocurrency derivatives market suffered approximately $163 million in liquidations in the past 24 hours, of which approximately $144 million came from long positions.