Aurelia Butler

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    in Cryptocurrency

    tBTC Becomes the First Incentivized BTC Asset on EigenLayer

    About Threshold Network: Threshold Network offers decentralized cryptography services that enhance privacy and security on public blockchains by distributing operations across independent nodes. Powered by the T token, users can stake and operate nodes to support key services like tBTC, a Bitcoin bridge, and TACo, an access control tool. By minimizing reliance on centralized entities, Threshold ensures trustless, secure, and privacy-focused solutions for decentralized applications in the evolving Web 3.0 landscape. To learn more, please visit: https://threshold.network/ About EigenLayer: EigenLayer is a protocol built on Ethereum that pioneered restaking, a new primitive in cryptoeconomic security. Through a system of interconnected smart contracts, any ERC-20 token, such as tBTC, can be “restaked” to participate in not one, but any number of Actively Validated Services (AVSs) in exchange for fees and/or rewards. Operators opt into these opportunities by running additional node software and in some cases grant the EigenLayer smart contracts the ability to impose additional slashing conditions on their assets as specified by the AVS. ContactM Group on Behalf of [email protected] article was originally published on Chainwire More

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    in Economy

    Bank of Spain ups 2024 economic growth forecast, again

    It was the second straight outlook upgrade by the Bank of Spain so far this year following its initial forecast of a 1.9% expansion. Last year, the economy expanded 2.5%.Growth is likely to slow down in the third quarter to 0.6% from the preceding three months, when the economy grew a stronger-than-expected 0.8%, the report said. The central bank also raised the outlook for 2025 and 2026, to 2.2% and 1.9% from 1.9% and 1.7%, respectively.As a result, the bank also reduced the debt-to-GDP ratio forecast to 105.4% at the end of this year from a previous 105.8%. It now expects inflation to clock 2.9% this year, down from 3% predicted three months earlier, and then to gradually moderate to 2.1% and 1.8% in the following two years. More

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    in Cryptocurrency

    Bybit Web3 Makes WSOT Debut: DEX Wave Featuring Over 100 DeFi Partners in Web3’s First Idol Competition

    Bybit Web3, the Web3 arm of Bybit, is thrilled to announce its participation in the World Series of Trading (WSOT) 2024, the world’s longest-running crypto trading competition. From Oct. 1 to Oct. 30, 2024, the WSOT 2024 DEX Wave will challenge participants to trade on-chain as part of their push to win big in the WSOT competition. It also marks the world’s first DEX talent competition by democratizing the space, inviting participants to choose the next Web3 star project from an astounding lineup of over 100 groundbreaking initiatives all on one arena.For event details, users can visit here: Calling All Web3 Projects: Shine in WSOT DEX Wave!Ride the DEX Wave with 100+ DeFi Partners Across Top Chains and TracksThe WSOT 2024 seamlessly integrates Bybit Web3’s DEX Pro platform, enabling participants to tap into a vast array of DeFi projects and tokens. From memecoins and DeFi to GameFi and beyond, this in-depth trading journey is powered by over 100 innovative partners and pioneering decentralized initiatives like Yescoin, Bonk, Citizen, Navi Protocol, Blackcardcoin, and Character X. With the largest number of ecosystem partners in the sector, the DEX Wave chapter of this year’s WSOT gives the Web3-curious a snapshot of what Bybit Web3 has to offer. The frictionless experience of trading on centralized (CEX) and decentralized (DEX) portals on Bybit brings together the depth of centralized platforms with the autonomy and diversity of decentralized exchanges, offering WSOT participants the chance to trade in the most exciting markets in the world. It’s more than just a competition — it’s an invitation to experience the entire blockchain ecosystem.Crown Next Web3 Star and Share a 1,000,000 MNT Prize Pool (NASDAQ:POOL): the First Web3 Idol CompetitionCapturing the best of emerging Web3 projects, the inaugural WSOT DEX Wave puts the emphasis back on the community by introducing a voting mechanism. As traders compete in the DEX Waves competition, they earn points, which they can use to vote for their favorite Web3 projects. Participants will share a 1 million MNT prize pool through interacting with the projects and taking a chance at a lucky draw. The traders with the highest point scores can enter a daily draw to win a share of a 200,000 MNT prize pool.The Web3 projects that win the most votes will receive extra support from Bybit, including CEO mentorship, prime listing opportunities and marketing support.Together, the WSOT community and Bybit are shaping the future of Web3 to bring out the potential of rising stars in Web3 and building the trading infrastructure necessary for the decentralized financial system. #Bybit / #TheCryptoArk / #WSOT2024About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press. For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    Bitcoin price today: slightly above $59k, Trump crypto project brings little cheer

    Crypto prices were little enthused by the release of more details on an upcoming project by Republican presidential candidate Donald Trump, which appears to be a banking or exchange platform. Bitcoin climbed 1.4% to $59,399.0 by 08:44 ET (12:44 GMT). The token remained squarely within a $50,000 to $60,000 trading range seen through most of the year.The team behind World Liberty Financial- an upcoming crypto project backed by the Trump family- unveiled some key details on the project during a launch event on X on Monday evening. The project appears to be a crypto banking and exchange platform, and will have its own native token- WLFI- which will be distributed among the founding team and released for sale to the general public. About 20% of the tokens will be reserved for the founders, 17% will be reserved for rewards, and 63% of the float will be released to the public. Trump spoke briefly during the event, which was hosted on X. He reiterated plans to make America the “crypto capital” of the world, but gave scant details on said plans.Trump has campaigned on a largely pro-crypto stance for the 2024 presidential election race. But he was seen lagging Democratic candidate Kamala Harris after a fiery debate last week. Harris has so far given few details on her plans for crypto, but is expected to continue the Biden administration’s crackdown against the sector. Broader cryptocurrency prices also moved in a tight range, with focus turning squarely to a Fed meeting this week.World no.2 crypto Ether rose 0.5% to $2,314.69, while XRP added 2%. ADA and SOL traded flat, while MATIC added 1.9%Among meme tokens, DOGE fell 0.5%. The Fed is widely expected to cut interest rates and signal an easing cycle when it concludes a two-day meeting on Wednesday. Traders were seen pricing in a greater chance that the Fed will cut rates by 50 basis points, up from prior expectations for a 25 bps cut. Lower rates bode well for crypto, given that they free up liquidity that can be deployed into speculative assets. But the sector saw little price action in anticipation of Wednesday’s decision.Hashprice, a measure of a Bitcoin miner’s daily profitability, has dropped 2% this month and remains more than 50% below pre-halving levels, JPMorgan revealed in a recent report. The bank warned that this decline, “coupled with seasonal curtailment, could slow near-term hashrate growth.””U.S.-listed miners’ share of the network hashrate increased for the fifth consecutive month to 26.7%, the highest level on record,” JPMorgan analysts also highlighted.Bitcoin mining stocks declined in the first half of September as Bitcoin’s price stayed below $60,000, while the network’s hashrate climbed, according to a report from JPMorgan on Monday. The hashrate has risen 4% month-to-date and has now returned to pre-halving levels. The hashrate is a measure of the total computational power used in mining and processing transactions on proof-of-work blockchains and serves as an indicator of competition in the mining industry.JPMorgan tracks the market cap of 14 U.S.-listed bitcoin miners, which collectively fell 3% since the end of August to just under $20 billion. Among these miners, Hut 8 Corp (TSX:HUT) outperformed with an 11% gain, while CleanSpark Inc (NASDAQ:CLSK) lagged behind, declining 12%.Ambar Warrick contributed to this report.  More

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    in Cryptocurrency

    Blockchain game Blankos Block Party joins Polkadot ecosystem

    After the initial phase, Mythical Games will spend two weeks conducting checks to verify all on-chain data. Trading for Blankos NFTs is expected to resume around mid-to-late October. During the migration, players might see their Blankos items reappear in their accounts, but trading will remain disabled until the team completes all final checks, Mythical Games said in a blogpost.Blankos Block Party launched in 2020 after gaining early interest at SXSW 2019. The game lets players design and customize characters called Blankos, which are digital vinyl toys represented as NFTs. These NFTs give players ownership of their digital assets, allowing them to trade or sell their characters. The game is popular for its user-generated content, featuring a variety of platformer-style games like speed runs and shooter mini-games, often described as a Web3 version of Roblox.Blankos Block Party’s move to Polkadot follows NFL Rivals, another game developed by Mythical Games, which transitioned to Polkadot’s Parachain through the Mythos Chain. The transition will also bring a range of new intellectual property (IP) partnerships to Polkadot, including collaborations with brands like Burberry and artists such as Deadmau5.For many players, the switch to Polkadot brings security, scalability, and quicker transaction speeds. John Linden, CEO of Mythical Games, cited these attributes as key reasons for choosing Polkadot to host Blankos Block Party.Led by gaming industry veterans, Mythical Games builds games around player-owned economies and has been involved in developing major franchises like Call of Duty, World of Warcraft, Marvel Strike Force, and Skylanders.The Mythical Platform provides both custodial and non-custodial gaming wallets for digital items. This setup protects gamers who are new to blockchain while allowing advanced players to link their own wallets through bridges between the Mythical Chain and public mainnets. More

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    in Economy

    Bangladesh says World Bank pledges over $2 billion for reforms

    DHAKA (Reuters) – Bangladesh said on Tuesday the World Bank has committed to providing over $2 billion in new financing this fiscal year to support the country’s ongoing reform efforts, flood response initiatives, and improvements in air quality and healthcare.The announcement was made by the World Bank’s Country Director, Abdoulaye Seck, following a meeting with the head of the interim government Nobel laureate in Dhaka on Tuesday, his office said in a statement.”We would like to support you as fast as possible and as much as possible,” Yunus’ office quoted Seck as saying, underscoring the bank’s commitment to addressing Bangladesh’s financial needs as it embarks on critical reforms under the interim government, formed last month following the ousting of Prime Minister Sheikh Hasina after deadly protests.The World Bank also plans to repurpose an additional $1 billion from existing programmes, which will raise the total amount of soft loans and grants to approximately $3 billion for this fiscal year that ends in June 2025. The funds will be used to support a variety of key areas, including the country’s response to natural disasters and economic reforms.Seck highlighted the importance of the reforms for Bangladesh’s future, particularly for its youth, with two million people joining the job market each year. “The completion of the reforms will be critically important for Bangladesh and its young people,” he said.During the meeting, Yunus urged the World Bank to provide the necessary flexibility and support for the country’s reform initiatives. “We need a big push, and we have to focus on the dreams of the students.”In a televised address last week, Yunus said the government was appealing for $5 billion in aid to help stabilise an economy that has been struggling since the Ukraine war sharply increased the cost of fuel and food imports. Bangladesh last year sought a $4.7 billion bailout from the International Monetary Fund.The United States is committed to supporting Bangladesh’s inclusive economic growth, institution building and development and will provide an additional $202 million of aid, a U.S. delegation said during a visit to Dhaka on Sunday. More

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    in Economy

    Bank of Spain ups 2024 economic growth forecast on tourism boom

    It was the second straight outlook upgrade by the Bank of Spain this year following its initial forecast of a 1.9% expansion. Last year, the economy grew 2.5%.It also contrasted with the fortunes of the wider euro zone. The European Central Bank on Thursday lowered its 2024 economic growth projection for that region to 0.8% from 0.9%. Spanish growth is likely to slow down in the third quarter to 0.6% from the preceding three months, when the economy grew a stronger-than-expected 0.8%, Tuesday’s report said. It noted that the strong second quarter had a positive carry-over effect on the full-year forecast.In the first seven months of 2024, spending by foreign visitors rose 18.6% to 71 billion euros ($79 billion), boosting net external demand, despite initial concerns over anti-tourism protests and extreme summer temperatures.Population growth through migration flows and the Spanish manufacturing sector’s relative resilience compared to euro zone peers were also contributing to higher growth, the central bank said.While private consumption was still lagging, it expected lower interest rates and slowing inflation to allow for an improvement in the coming quarters.The central bank also raised the outlook for 2025 and 2026, to 2.2% and 1.9% from 1.9% and 1.7%, respectively.It now expects inflation to hit 2.9% this year, down from 3% predicted three months earlier, and then to gradually moderate to 2.1% and 1.8% in the following two years. More

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    in Economy

    Over-priced Fed rate cuts make T-bills unattractive, Federated Hermes says

    LONDON (Reuters) – Market expectations of substantial U.S. rate cuts this year are making short-dated debt unattractive as the Federal Reserve is unlikely to be as aggressive in easing monetary policy, said Deborah Cunningham, a money market fund manager for Federated Hermes (NYSE:FHI), on Tuesday.The Fed delivers its decision on policy on Wednesday and is all but certain to cut interest rates from their 23-year high.Investors currently think it more likely to begin with a 50-basis-point cut than with a 25-basis-point one and are pricing around 120 bps of cuts across the three meetings by year end. Federated Hermes, in contrast, expects a 25-bp cut on Wednesday and two more such cuts by year end, Cunningham said. “Short term (U.S.) paper at this point looks unattractive,” Cunningham, chief investment officer for global liquidity markets, told reporters. “The best strategy in the short term is to invest in the longer end of our yield curve – out to 13 months – but it is hard to do that when you’re looking at a yield curve that at the short end is expecting way more (cuts) than we are.” Cunningham’s view differs from market pricing “because there are quite a few market participants that expect a recession, which is not our expectation.” Money market funds are mutual funds that invest in very liquid short-term debt products issued by governments or highly rated companies. Companies and investors have traditionally seen them as safe places to park cash, but poured funds into this asset class as central banks raised rates, taking advantage of the higher returns on offer. Retail investors too have got in on the act and in total, $6.3 trillion is currently invested in U.S. money market funds, according to data from the Investment Company Institute. The yield on a three-month Treasury bill has fallen around 56 bps in the last three months. There has been a full percentage point decline in two-year yields in that time.Cunningham said there were more opportunities to invest in short-dated government bonds in Britain, where markets are pricing fewer rate cuts than in the U.S., as well as short-dated tranches of asset-backed securities, which had been unattractive when rates were rising. Other asset managers are watching to see whether money flows out of money market funds as interest rates fall, but Cunningham said low interest rates on bank accounts meant she saw them continuing to attract inflows and that assets under management would peak over $7 trillion. More