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Zipmex Begins Releasing Bitcoin and Ethereum to User Wallets
After weeks of withholding cryptocurrencies from customers, exchange platform Zipmex has announced that it will begin releasing coins to users’ wallets.
Zipmex will release Ether to users on August 11th and Bitcoin a week later.
The exchange has been gradually releasing coins to users’ wallets since last week. Solana, Cardano and XRP tokens were first available after suspending all withdrawals on July 20th.
The decision to enact a trading moratorium came after the company lost $100 million in connection with crypto lender Babel Finance.In mid-June, Babel withdrew due to turmoil in the cryptocurrency market, according to CoinDesk. was frozen. The contagion has also led to a spate of defaults among overleveraged firms such as Three Arrows Capital and Celsius Network.
Are NFTs Back?
Investors are again flocking to NFTs after Wednesday’s announcement that the US Federal Reserve (Fed) will raise interest rates again. This is in line with market expectations.
The Fed has raised its benchmark borrowing rate by 0.75 percentage points at its last two policy meetings. This is the largest rate of increase since 1994.
Lowest prices on our most popular NFT collections including: Mutant Ape Yacht Club, Boad Ape Yacht Club, Otherside for OthersideWhen Cryptopunks It has risen more than 17% in the last two weeks.
As the price rose, trading volume also started to rise. Mutant Ape Yacht Club collection volumes hit her US$1.17 million, up 139% from the previous day. Meanwhile, Bored Ape Yacht Club’s trading volume increased by 6% to US$889,040, while Otherdeed increased by 14% to US$777,630, according to Cryptonews.
El Salvador doubles in Bitcoin betting
El Salvador’s Finance Minister Alejandro Zelaya said he does not believe the country will default on its $800 million debt. Minister Zelaya and President Naive Bukele have hedged their Bitcoin bets and made the cryptocurrency their national currency in recent years.
JP Morgan, Bloomberg and other financial sector analysts believe El Salvador’s chances of defaulting on its bond payments are the second highest in the Latin American region after Venezuela.
President Naive Bukele took to Twitter to reassure citizens about the government’s plans to use crypto to avoid defaults. H also took this opportunity to counterattack. new york timesrecently posted an article suggesting that Gambit has not paid off.
“His bet appears to have backfired, highlighting the gap between the utopian promise of cryptocurrency proponents and economic reality,” the article states.
Bukele noted that cryptocurrency exchange Bitfinex has announced that it will donate BTC 36 and $600,000 worth of Tether (USDT) to support small businesses and communities in the country.
“I can go to the regional bond market or issue a three-year municipal bond in Central America. [national] The US$7 billion budget is a marginal amount.It’s small,” Zelaya said in a newspaper El Diario de Hoy.
Global Blockchain Summit Turns Bullish In A Bear Market
The 20th World Blockchain Summit Singapore 2022 will see over 1,300 global Blockchain, Cryptocurrency and Web3 industry participants registered under one roof to bring business together through mutually beneficial collaboration across the Asia-Pacific region. Chance inspired and inspired.
The summit was addressed by chief guest Jerry Sambuaga, Ministry of Trade of the Republic of Indonesia, along with industry heavyweights such as Ilya Poroskin, Jan Kamenish, Mansu Harmon and Hassan Ahmed.
In his speech, Sambuaga spoke about Indonesia’s booming market and the broader Southeast Asian market, stating, “Cryptocurrency trading in Indonesia is an important step for the government to accelerate and develop Indonesia’s digital economy by 2030.” “It could be one of our strategies.”
He also saw potential in cryptocurrencies in terms of being able to use them as potential commodities for export. , equivalent to USD 4.2 billion, reaching Rp 859.4 trillion in December 2021. [$57.33 billion]”
US Bans Ethereum Privacy Tools