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Capula Management, one of the largest hedge funds in Europe with assets under management (AUM) of approximately $118 billion, has made a significant move in the cryptocurrency market by investing $464 million in spot Bitcoin exchange-traded funds (ETFs). This substantial investment underscores the growing institutional interest in bitcoin, even amid market fluctuations. Capula’s step highlights … Read more
Coinshares, a digital asset investment firm, has reported a significant $528 million outflow from its crypto products last week, driven by growing recession fears. This substantial withdrawal reflects the heightened market uncertainty and investor caution amid economic downturn concerns. Despite this setback, Coinshares remains committed to its long-term strategy and continues to expand its operations … Read more
Climate scientists in East Africa are integrating artificial intelligence (AI) into traditional weather forecasting methods to enhance the accuracy of extreme weather predictions. The region faces increasing frequency and severity of extreme weather events due to climate change. By combining AI with physical atmospheric processes, researchers have developed a hybrid modeling approach that provides more … Read more
Global investment bank Goldman Sachs has increased the likelihood of a U.S. recession within the next year to 25% from the previous 15%, although they maintain that the risk remains limited. Despite the recent rise in unemployment to its highest in nearly three years and a significant slowdown in hiring, Goldman economists, led by Jan … Read more
Argo Blockchain PLC has today released its July 2024 operational update, reporting the mining of 48 BTC, maintaining an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining margin in the mid-20% range, slightly lower than the previous month due to a lower … Read more
In his latest social media posts, Tron Founder Justin Sun addressed rumors about the liquidation of their positions, firmly denying any truth to these claims. Sun emphasized that they rarely engage in leveraged trading strategies, as they do not see significant benefits for the industry. Instead, they focus on activities that support the industry and … Read more
Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, … Read more
India’s Enforcement Directorate (ED) has executed its inaugural raid in the Leh Ladakh region to investigate fraudulent cryptocurrency activities under the Public Money Laundering Act (PMLA). The operation targeted six locations across Leh in Ladakh, Jammu in J-K, and Sonipat in Haryana, focusing on A. R. Mir and his associates. Allegations suggest thousands of investors … Read more
Whatsapp, the social media platform owned by Meta Inc., has stated that it would be impossible to comply with additional demands from Nigeria’s consumer protection agency. The social media platform argues that the Nigerian agency’s order compelling it to pay a $220 million fine contains multiple inaccuracies and misrepresents how the platform operates. The fine … Read more
Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate … Read more