🇸🇻 El Salvador continues to buy the dip 🙌

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Over half a TRILLION dollars have been erased in market cap today by the Magnificent 7.

The last time we saw stocks erase this much, the total crypto market cap saw a ~30% correction between Jul 22 - Aug 5.

Do you think history will repeat itself? 👀

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NEW: 💰 $108 billion investment firm VanEck is predicting a $2.9 million #Bitcoin price by 2050

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JUST IN: 🇺🇸 FBI warns that North Korean hackers are attempting to steal #Bitcoin and crypto funds from the ETFs 👀

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Today, Nvidia saw its market capitalization drop by $278 billion (-9.5%). 📉

This massive decline follows the US Department of Justice ramping up its investigation into Nvidia and issuing a subpoena to explore potential antitrust violations. 🧐

The fallout from Nvidia’s drop has extended to other major "big seven" companies, which collectively lost about $0.5 trillion in market capitalization. 💰🙀

👀 The crypto market hasn’t been immune either; Bitcoin dipped below $56,000 and is currently trading near that level. In the past 24 hours, $170 million in long positions have been liquidated.🤷

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🧬 JUST IN: Rune Christensen, co-founder of Sky (formerly Maker) suggests a decentralized court could oversee the freeze process for their new stablecoin, USDS.

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🥷 Unknown attackers have breached the DeFi protocol Penpie, stealing $27 million.

Pendle has confirmed the discovery of a vulnerability in Penpie. 🧐

🧑‍💻 The developers assure that investors' funds remain secure on the Pendle protocol, but all contracts have been temporarily halted as a precautionary measure.

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Former MtGox CEO to Launch New Cryptocurrency Exchange 🚀

Mark Karpeles, the former Mt. Gox CEO, is launching a new crypto exchange called EllipX later this month in Poland. 🎉 With a strong focus on transparency and user-friendliness, EllipX aims to set a new standard in the industry. 🛡

Karpeles plans to apply a unique structure similar to the NYSE but for crypto, separating trading from brokerage and storage to enhance transparency. The platform will also feature a new, easy-to-use wallet with multi-party computation technology. 💼🔐

In addition to EllipX, Karpeles is launching Ungox, a non-profit that will rate crypto projects and exchanges. 📊✨ Former Mt. Gox users will receive special perks, including discounts and free NFTs. 🌟

Karpeles is determined to push for industry-wide transparency and better security. 😁

🤝 @Cryptocurrency_Inside ✅

NBA legend Scottie Pippen claimed that during the night, he was visited in a dream by Satoshi Nakamoto, who said that on November 5, 2024, Bitcoin would reach $84,650. 😁

Do we believe it?

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🇯🇵 JUST IN: Japan’s FSA wants to align crypto tax rates with traditional financial assets.

The proposed 2025 reform could cut taxes on crypto profits from 55% to 20% and allow loss carryovers.

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🇨🇭Zurich Cantonal Bank, Switzerland's fourth-largest bank, has started offering Bitcoin and Ethereum trading.

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JUST IN: 🇨🇦 Bank of Canada cuts policy rate by 25 basis points again.

Soon the FED and the world.

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🚨 The CFTC has issued an order against Uniswap Labs for offering illegal digital asset derivatives trading.

The order requires them to pay a $175,000 civil monetary penalty and to cease and desist from violating the Commodity Exchange Act (CEA), as charged.

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NEW: 🇺🇸 Senator Lummis says, “wouldn’t it be fun if the US is buying #Bitcoin and it scares China and Russia so they start buying Bitcoin and we have an arms race over Bitcoin instead of over weapons.”

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JUST IN: 🇺🇸 US Senator Cynthia Lummis says her #Bitcoin Strategic Reserve bill is the "only viable solution that positions us to cut our national debt in half by 2045."

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🐶119 Million DOGE Sent to Robinhood, Market Impact Feared

🚨 Over 119 million Dogecoin, worth $11.7 million, was transferred from an unknown wallet to Robinhood. This large move raises concerns of a potential sell-off, increasing bearish sentiment in the DOGE market.

📉 Dogecoin is down 2.87% in the last 24 hours, trading at $0.09629. The overall market has dropped 3.6%, with the crypto market cap falling below $2 trillion.

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JUST IN: 🇯🇵 Japan to lower maximum tax rate on #Bitcoin from 55% to 20%, in line with financial assets

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Changpeng Zhao Banned from Managing Binance for Life 🚫

👀 Binance has issued a lifetime ban on its founder, Changpeng Zhao (CZ), from overseeing the company, as confirmed by Richard Teng, the current CEO of the world's largest cryptocurrency exchange, to Axios.

Zhao is currently serving a four-month prison sentence in the U.S. for money laundering and sanctions violations, with his release anticipated by the end of September. 📅

⚖️ The U.S. Department of Justice's indictment did not include a permanent ban on Zhao's participation; the initial restriction was planned for just three years.

Despite the ban from management, Zhao will remain a majority shareholder in Binance but will not be formally part of the board of directors. 🤵🏻‍♂️

After pleading guilty in April, Zhao announced his intention to step down as CEO of Binance and to focus instead on investments in blockchain technology, AI, and biotechnology. 💰

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