The Jio Financial Service partnership will provide innovative digital solutions to customers. BlackRock made its re-entry into the Indian asset management industry after five years. Reliance Industries’ financial services arm, Jio Financial Services (JFS), has announced its partnership with the US-based firm BlackRock to launch asset management services in India. The joint venture will run on 50:50 ownership to offer investment solutions. Moreover, both firms will make an initial investment of $150 million each in the partnership. Over the past, Indian asset management has experienced massive growth and significant development, accumulating over $540.4 billion in assets under management. Adding to that, JFS aims to launch asset management services by partnering with BlackRock. BlackRock is an investment management firm based in the United States, with $9 trillion under asset management. Highlighting that, BlackRock has recently expressed its interest in the crypto industry by filing a Bitcoin ETF with the U.S. SEC. On July 26, Jio Financial Services released a joint statement with BlackRock announcing that the Joint venture Jio BlackRock will deliver tech-enabled access to affordable and innovative investment solutions for Indian investors. BlackRock Re-enters India With Jio Financial Service According to the reports, the partnership will introduce a new player to the Indian market with a unique scale, scope, and resource combination. Rachel Lord, Chair and Head of the APAC region at BlackRock stated that Jio BlackRock will place the combined strength and scale of both of its firms in the hands of Indian investors. Through this joint venture with Jio Financial Service, BlackRock made its re-entry into the Indian asset management industry after five years. This is BlackRock’s second attempt to enter the Indian asset management industry after exiting its partnership with the local firm DSP Group in 2018. Hitesh Sethia, CEO of Jio Financial Service, stated that the partnership will utilize BlackRock’s expertise in investment and risk management along with its technology capabilities. The Joint venture with Jio Financial Service marks a significant milestone for BlackRock as it expands its network in India. Moreover, the collaboration is expected to reshape the financial services landscape in India. BlackRock is one of the firms waiting for the SEC’s approval to provide Bitcoin ETF services in the United States. Crypto enthusiasts have been wishing for the SEC to approve the Bitcoin ETF filing. That may result in a massive surge in the BTC trading price. Do you think they can offer exposure to Digital Assets/cryptocurrencies as well? Tweet us your thoughts @The_NewsCrypto

The XRP price has recently broken above a long-term downtrend line. The breakthrough might be nullified by a reverse below the 50-day SMA. Analysis of the daily chart implies that the XRP price may soon reach a turning point. On July 14, the XRP price began its ascent. Since the XRP price peaked at $0.854 on July 19, there has been an increase in profit-taking. The price could not continue the rally further and it fell to a demand zone, particularly around $0.69. It made a failed attempt to break above the recent peak and retested the recent support of around $0.69. Source: CoinMarketCap Santiment, an on-chain analytics firm, said at the beginning of the week that with the XRP price above $0.70, there were more than 100 million XRP whale wallets. Since May 13, the number of XRP “whale wallets,” or wallets holding more than 100 million coins (worth at least $74 million), has increased to 199, as reported by the analytics firm. Short-term Bullish Momentum Moreover, the XRP price has recently broken above a long-term downtrend line, and this upward price movement has been accompanied by above-average trading activity. Price may challenge $0.75 on short-term bullish momentum, while the 200-day simple moving average and a horizontal trendline provide resistance. If the 200-day SMA is decisively broken above, a further significant rally to the high of last week, at $0.84, is possible. The breakthrough might be nullified by a reverse below the 50-day simple moving average, which could lead to a decline to Tuesday’s low of around $0.6770. On the other hand, Ripple’s senior legal officer dismissed concerns that the United States SEC would appeal the historic Ripple judgment earlier this month. If the SEC decides to appeal, Stuart Alderoty thinks the court will seek to further cement Ripple Labs’ partial success against the regulatory body.

Shibarium recently completed more than 31 million transactions on its testnet. The team recently announced a contest on Twitter for the Shiba Inu community. There is a lot of excitement in the crypto community as word spreads that the Shibarium Beta Bridge is now available for public testing. The breakthrough cross-chain solution that will revolutionize user experience with blockchain is now available for testing. The Shibarium Beta Bridge is a major improvement in the Shiba Inu ecosystem development. It’s important to keep in mind the significance of security in the crypto realm despite the excitement of this new breakthrough. Users of the Shibarium Beta Bridge should use care while linking their wallets to any external service. In order to safeguard their finances and personal information, users should check the site’s legitimacy and use faucets. The outlook for Shiba Inu in the cryptocurrency industry is more promising than ever. Shiba Inu’s leadership and innovative capabilities have been on full display with the debut of the Shibarium Beta Bridge. Free Giveaway Recently, the innovative Shibarium protocol has hit a major milestone on its testnet. Shibarium has successfully completed more than 31 million transactions on its testnet. This success is being hailed as a major milestone as the protocol readies for its highly anticipated mainnet deployment. Shiba Inu ecosystem marketing specialist Lucie recently announced a contest on Twitter for Shiba Inu community. Shiba Inu’s reputation in the cryptocurrency business has been boosted because of its role as title sponsor for major events such as the Blockchain Futurist Conference, ETH Toronto, and ETH Women. The winner will get two complimentary tickets to ETH Toronto so that they and a guest may see this momentous occasion together. One has until July 27 to enter, and the winner will be chosen at random and then publicized. Highlighted Crypto News Today: XDC Surges 64% Pulling a Bullish Rally

It features hundreds of artists’ takes on the platform’s distinctive “Snoo” alien mascot. Many of the avatars are sold out at this time and vary in price from $2.49 to $199.99. With over 18 million Polygon-based Collectible Avatars created over the last year, Reddit has swiftly become one of the largest brands related to NFTs, and it has now released another intriguing collection. The fourth generation of Reddit’s Collectible Avatars, dubbed “Retro Reimagined,” debuted today. It features hundreds of artists’ takes on the platform’s distinctive “Snoo” alien mascot. NFTs from the Cool Cats profile picture (PFP) project and the Aku NFT character by artist Micah Johnson are included in the drop, along with work from previously featured artists and members of the Reddit community. Certain Restrictions Placed This collection of NFT avatars is a limited-edition release, with hundreds or thousands of copies of each tokenized avatar made accessible. Many of the avatars are sold out at this time and vary in price from $2.49 to $199.99. Reddit has also made some adjustments to its methodology for this most recent release. Reddit will restrict purchases on the first day of the auction based on “account age and other metrics,” preventing freshly formed accounts from purchasing huge amounts of NFTs to resell. To further protect the site from spambots, Reddit has now included a CAPTCHA verification mechanism. Through Polygon, an Ethereum scaling network that facilitates cheaper and quicker transactions for large-scale projects and mints, Reddit introduced Collectible Avatars for the first time last summer. Reddit has given out millions of avatars over the last year, in addition to the premium avatars that cost money and has moved hands on secondary markets for thousands of dollars each. Highlighted Crypto News Today: XDC Surges 64% Pulling a Bullish Rally

The Bitcoin and crypto markets are experiencing a slight upswing today, with BTC and other major altcoins making gains. The main catalyst behind this uptrend appears to be yesterday’s Federal Open Market Committee (FOMC) meeting. At the time of writing, Bitcoin’s price is up by 0.8% in the last 24 hours, currently trading at $29,486. Despite facing resistance around the critical resistance area of $29,750, BTC has shown resilience and is attempting to reclaim its upward trajectory. Moreover, other major cryptocurrencies are also in the green, with Ethereum (+1.0%), XRP (+1.4%), Cardano (+3%), and Solana (+7%) all enjoying gains. Bitcoin Follows TradFi’s Reaction The FOMC meeting has been a focal point for the crypto market’s movements. Federal Reserve Chairman Jerome Powell reiterated that the central bank remains data-dependent, indicating that further interest rate hikes are not ruled out. However, no decision on the matter has been reached yet. Powell emphasized that core inflation (both PCE, CPI) remains the primary focus. He also stated that FED will stop raising rates way before the inflation target of 2% is reached. However, the big bummer was his statement that he does not expect inflation to fall below 2% before 2025! Bitcoin experienced a quick dip in response to this Powell statement, but quickly rebounded, seemingly following the trajectory of traditional financial markets. Notably, the Dow Jones rose for a 13th consecutive day after the FOMC meeting yesterday, signaling investors’ confidence in a bullish market sentiment. Experts and analysts in the cryptocurrency space have offered diverse opinions on the implications of the FOMC meeting and Powell’s remarks. Jim Bianco, an influential figure in the financial industry and founder of Bianco Research LLC, highlighted the lack of clarity in the Fed’s communication, stating: And this is seemingly what the traditional finance as well as crypto markets are doing. The big question is: how long will the Fed hold rates up, how long before it pivots. As this is data dependent, no one knows, but market expectations and the Fed’s projections still seem far apart. While the CME’s FedWatch tool currently predicts a slight majority in favor of a first rate cut already in March 2024, Powell made it clear yesterday in a hawkish tone that the key rate must remain high for a long time because the effects need time to have an impact on the economy. Charles Edwards, founder of Capriole Investments noted the unprecedented tightness in current economic conditions due to the combination of money supply growth and negative interest rates. He suggested that historical trends indicate a strong possibility of a one-way bull market emerging under these conditions: Crypto analyst Michael van de Poppe, expressed concern about the Fed’s projection that a recession is not on the horizon. He speculated, “Most likely no more rate hikes. […] Have a terrible GDP today and sweep the lows on Bitcoin before we continue the party up. Buy the dip season.” At press time, the Bitcoin price still slowly grinds towards the red resistance area below $29,800.

Hybrid service to provide digital asset custody, management, and advisory to financial advisors and wealth managers NEW YORK–(BUSINESS WIRE)–Standard Custody & Trust Company, a NYDFS chartered company providing institutional-grade custody, escrow, and settlement services for digital assets, announced a groundbreaking partnership with L1 Advisors, a pioneering onchain wealth management platform for financial advisors and their clients. This partnership signifies an industry-first product offering for registered investment advisors, wealth managers, and family offices. The collaboration ushers in a new era of digital asset management, providing financial advisors with a hybrid approach to digital asset custody, management, and advisory for the first time. This innovative approach combines the security and convenience of qualified custody with the portability and self-sovereignty of self-custody. The newly bundled product offering enables advisors to offer both discretionary and non-discretionary advice, facilitating a more personalized approach to digital asset advisory. That’s the case for Nick Rygiel, the owner and Financial Advisor at Ironclad Financial, who started using both platforms in his practice. “I’m excited to leverage the L1 Advisors and Standard Custody product integration. This innovative alliance lets us offer a unique hybrid service that transforms how our clients manage their digital wealth.” Through the L1 platform, advisors can now monitor assets in qualified custody or in clients’ self-custodied wallets, granting unprecedented access to a broader view of client portfolios. This adaptability ensures that the advisory services can be tailored to suit operational and compliance needs, creating a unique edge for advisors in the emerging landscape of digital assets. Jack McDonald, CEO of PolySign, the parent company of Standard Custody & Trust, acknowledged the strategic importance of this partnership: “L1 Advisors has solved an important challenge within the wealth management space, and we are proud to be partnering with them to help bring a more robust solution to the market via our next-generation digital asset regulated custodian. Standard Custody’s conflict-free model perfectly aligns with the ethos of private wealth, and our combined offering gives clients the most secure, qualified custodial services they deserve.” Echoing the same sentiment, Miguel Kudry, CEO of L1 Advisors, expressed his enthusiasm about the partnership: “This seamless blend of qualified custody and self-custody is an industry first and gives advisors and their clients the assurance they have been looking for so long to advise on digital assets. The future of onchain wealth management is a hybrid of self-custody and qualified custody, and we are excited to partner with Standard Custody to make that vision a reality.” This collaboration signals a milestone in the evolution of digital assets management and advisory, and both Standard Custody and L1 Advisors look forward to shaping the future of wealth management. About Standard Custody & Trust Co Standard Custody & Trust Company is an institutional-grade custody and settlement platform for digital assets. Standard was founded and designed by leading technologists and innovators from pioneering cryptocurrency and distributed ledger technology companies blended with traditional capital markets expertise. A subsidiary of PolySign, Inc., Standard’s platform offers novel blockchain technology that provides end-to-end encryption and distributed trust protocols for securing secret keys. Standard’s integrated escrow trading platform enables investors to buy and sell digital assets directly from custody, eliminating the risk of external transfers and inefficient transactions between different providers. Standard embodies high standards for regulatory and compliance excellence, empowering financial institutions to leverage their digital asset positions with confidence in best-in-class security protocols. For more information, please visit standardcustody.com. About L1 Advisors L1 Advisors is an onchain wealth management platform providing financial advisors, RIAs, and wealth managers with a secure and efficient way to provide advice on self-custodied assets. The platform empowers clients to maintain custody of their assets while receiving advice and transaction recommendations directly on decentralized-finance protocols. For more information, visit l1advisors.com. Contacts Melanie Budden The Realization Group on behalf of Standard Custody/PolySign [email protected] Tel +44 7974 937970 Miguel Kudry CEO at L1 Advisors [email protected]

XDC experiences a remarkable 64% surge in just one week. Strategic partnerships and trade finance fuel XDC Network’s bullish rally. In the fast-paced world of cryptocurrencies, XDC Network has emerged as a powerhouse, exhibiting a display of bullish momentum. Over the past week alone, the digital token for the open-source Hybrid Blockchain XDC Network has skyrocketed by an astonishing 64%, captivating traders and investors alike. Zooming out to 30 days, it surged an astounding 93%, transforming its value from a modest $0.03137 to a robust bullish rebound high of $0.0588. As a result, it earned a coveted spot in the top 50 on CoinMarketCap, solidifying its position as a significant player in the cryptocurrency market. XDC Price Chart, Source: TradingView What is Behind XDC Network(XDC) Bull Rally? Recent legislative support in the UK Parliament aimed at fostering blockchain adoption and digital assets has provided an extra boost to XDC’s growth. Additionally, esteemed institutions like ICC, WTO, and Citi Group, have taken notice of the network’s potential in the TradeFi sector. Attributing to the fact that the company is the first blockchain entity to join the Global TFD Initiative. Further, The strategic partnership with SBI, a prominent Japanese financial institution, has been instrumental in propelling XDC’s surge. It also expanded the Network’s user base in the Japanese market, especially in the crucial hub of international trade. Although the trading volume currently reflects a slight decline of 18.05%, experts anticipate a resurgence soon. At the time of writing, XDC Network’s price stands at $0.06113, experiencing a notable surge of 12.47% in the last 24 hours. With its unparalleled growth, XDC Network is expected to maintain a strong bullish momentum. Do you think the ongoing bull run of XDC is a temporary surge or a sustainable long-term trend? Tweet us @The_NewsCrypto and let us know your thoughts.

Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. However, the coin has suffered a 4.4% slump over the past seven days, indicating underlying bearish sentiments in the market. Despite the short-term surge, the weekly time frame presents a negative outlook, primarily due to the failure to break through a long-term horizontal resistance. Adding to the bearish pressure, an ascending trendline has been broken, signaling a potential further decline in MATIC’s price. One of the significant factors contributing to MATIC’s current bearish scenario is its inability to surpass the significant resistance zone of around $0.80. This area had been acting as a strong support level for the altcoin, providing stability during various price fluctuations. However, this support became a formidable resistance over the past two weeks, thwarting MATIC’s attempts to climb higher. Polygon (MATIC) Ascending Trendline Breakdown An ascending trendline is a sloping line that connects a series of ascending lows in an uptrend. It represents a rising level of support and is often used to gauge the strength of a bullish trend. The breakdown of this trendline indicates a shift in sentiment, suggesting that buyers are losing control and sellers are gaining momentum. The breakdown of the ascending trendline sets the stage for a potential 22% drop in MATIC’s price. If the coin fails to find strong support at lower levels, this decline could be the next crucial movement for the cryptocurrency. Traders and investors must closely monitor price action to determine if MATIC can stabilize or if further losses are on the horizon. Bear Trap Scenario And Bullish Recovery However, there is a glimmer of hope for MATIC’s price trajectory. If buyers can push the current price above $0.729221, it could invalidate the recent bearish breakdown. This move could create a bear trap scenario, where traders anticipating a continued decline may be forced to cover their short positions, leading to a sudden surge in buying activity. If this scenario plays out, it could assist MATIC in initiating a bullish recovery. As an observer of the cryptocurrency market, it’s essential to acknowledge that the price of the MATIC token and other digital assets can be highly volatile and subject to various technical and fundamental factors. While the current price action may raise concerns for some investors, it’s essential to remember that market conditions can change rapidly. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from CoinChapter

Bitcoin price is struggling to recover above the $29,000 resistance level. BTC must settle above $29,000 and then $29,600 to move into a positive zone. Bitcoin is attempting a recovery wave above the $28,850 level. The price is trading below $29,200 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could face a strong resistance near the $29,600 resistance. Bitcoin Price Still In The Negative Zone Bitcoin price started a short-term recovery wave above the $29,000 resistance zone. BTC was able to climb above the $29,200 resistance zone after the Fed interest rate decision. There was a move above the 23.6% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low. However, the bears were active near the $29,600 resistance zone and there was no close above the 100 hourly Simple moving average. Bitcoin is now trading below $29,200 and the 100 hourly Simple moving average. Besides, there is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $29,450 level and the 100 hourly Simple moving average. The first major resistance is near the $29,600 level. It is near the 50% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low. Source: BTCUSD on TradingView.com The next major resistance is near the $29,800 level, above which the price might start a decent increase toward the $30,000 resistance zone. The next major resistance is near the $30,350 level, above which the price could gain bullish momentum. Fresh Decline in BTC? If Bitcoin fails to clear the $29,600 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,200 level and the trend line. The next major support is near the $29,000 level, below which the price could drop toward $28,880. The next support is near the $28,500 level. Any more losses might call for a move toward the $28,200 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $29,200, followed by $29,000. Major Resistance Levels – $29,400, $29,600, and $30,000.

Ethereum price is recovering above the $1,850 zone against the US Dollar. ETH could restart its decline if there is no move above the $1,900 resistance. Ethereum is slowly moving higher above the $1,850 zone. The price is trading above $1,870 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,855 on the hourly chart of ETH/USD (data feed via Kraken). The pair could face a strong selling interest near the $1,900 and $1,920 levels. Ethereum Price Faces Uphill Task Ethereum’s price started a short-term recovery wave from the $1,830 zone. ETH was able to recover above the $1,850 and $1,860 levels, similar to Bitcoin. However, the bears are still active below the $1,900 level. A high is formed near $1,886 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $1,832 swing low to the $1,886 high. Ether is now trading above $1,870 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,855 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the upward move from the $1,832 swing low to the $1,886 high. On the upside, immediate resistance is near the $1,885 level and the recent high. The first major resistance is near the $1,900 level. The next key resistance is near the $1,920 level. A close above the $1,920 resistance could set the pace for a larger increase. Source: ETHUSD on TradingView.com The next resistance is near the $1,975 zone, above which the price might rise toward the $2,000 hurdle. Any more gains could send Ether toward the $2,050 resistance in the near term. Fresh Decline in ETH? If Ethereum fails to clear the $1,900 resistance, it could start a fresh decline. Initial support on the downside is near the $1,865 level and the 100 hourly SMA. The first major support is near the $1,855 zone or the trend line, below which the price might move into a bearish zone. The next major support is near the $1,830 support level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,855 Major Resistance Level – $1,900

Solana is attempting a fresh increase above the $25 resistance against the US Dollar. SOL price might continue to rise steadily toward the $30 zone in the near term. SOL price is showing positive signs above the $24 level against the US Dollar. The price is now trading near $25 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $24.80 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to move up if it clears the $26 resistance zone. Solana Price Starts Recovery After a steady decline, Solana’s price found support near the $22.75 zone. SOL traded as low as $22.70 and recently started a recovery wave, unlike Bitcoin and Ethereum. The price climbed above the $24 and $24.50 resistance levels. There was a break above a major bearish trend line with resistance near $24.80 on the 4-hour chart of the SOL/USD pair. The pair climbed above the 23.6% Fib retracement level of the downward move from the $32.42 swing high to the $22.70 low. SOL is now trading near $25 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $25.90 level. The first major resistance is near the $26 level. A clear move above the $26 resistance might send the price toward the $28.80 resistance. Source: SOLUSD on TradingView.com The 61.8% Fib retracement level of the downward move from the $32.42 swing high to the $22.70 low is also near the $28.80 level. Any more gains might send the price toward the $30 level. Another Drop in SOL? If SOL fails to clear the $26 resistance, it could start a fresh decline. Initial support on the downside is near the $24.80 level and the broken trend line. The first major support is near the $24 level. If there is a close below the $24 support, the price could decline toward the $22.75 support. In the stated case, there is a risk of more downsides toward the $20 support in the near term. Technical Indicators 4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $24.00, and $22.75. Major Resistance Levels – $26.00, $28.80, and $30.00.

The Bitcoin halving is arguably the most important event for the blockchain due to its function. As such, it has played a significant role in when the crypto bull market starts and how long it lasts in most cases. Although there have been slight deviations in how it triggers each bull market, pre-halving data over the years suggests that it keeps to quite a tight schedule. Bitcoin Maintaining Historical Trend While most of the year has seen Bitcoin deviate from many historical trends, leading to speculation that the next bull market won’t follow the established trend, the digital asset’s current pattern suggests that these widespread speculations may be wrong. In a chart shared on Twitter, pseudonymous crypto analyst @stockmoneyL has presented the argument that Bitcoin could indeed follow the previous bull market trends. The chart shows the number of days between the bottom of the bear market and the next halving event has always maintained a reasonably tight timeline. Going by the chart, if Bitcoin follows this same timeline, then the bull market will actually begin in 2024. With 532 days between the 2022 bottom and the next halving, it fits in with the average 530 days seen between cycles, after which bull markets have often begun. If this plays out in this instance as well, it would invalidate the expectations of a bull market starting in 2023. It then puts the start of the bull market toward the middle of 2024, similar to other bull markets that have begun following the halving event. Where Does BTC Land In The Bull Market? Over the last couple of bull markets, the price of Bitcoin has always surpassed its previous all-time high by a significant margin. For example, during the 2017-2018 bull market, the price of the digital asset clocked an all-time high price of $19,000. And even though it was significant at the time, it was nothing compared to the next ATH. In 2021, at the height of the last bull market, the price of BTC reached as high as $69,000, more than triple its previous all-time high. This trend has always endured through all bull markets and if there is a repeat, then it is possible that the price of BTC will reach $150,000 in the next bull. Now, the exact time frame for this has varied depending on who the forecast was coming from. However, looking at Bitcoin’s previous all-time high peaks, they happen around a year after the halving and start of the bull market. So in this case, it would put the new ATH for the digital asset in 2025.

The Federal Reserve’s (Fed) decision to raise the Federal Funds Rate (FFR) by 25 basis points to 5.50%, the highest level since February 2021, had little impact on the cryptocurrency market and Bitcoin (BTC), with the event described as “very vanilla” by the Journalist Ted Talks Macro. The FOMC indicated that achieving its 2% inflation target still has a long way to go and that it will take a data-dependent approach to future rate hikes. While some investors had been hoping for a more hawkish tone from the Fed, the central bank’s cautious approach was seen as a sign that it is still concerned about the potential impact of its monetary policy on the broader economy. According to Ted, the full effect of tightening is yet to be felt, and getting back to the inflation target may require below-trend growth and labor market softening. Despite the Fed’s decision to raise rates, they may raise them again in September, depending on the data. The Fed’s decision to keep Quantitative Tightening (QT) unchanged was also a sign that the central bank is taking a measured approach to monetary policy. The markets reacted positively to the Fed’s decision, with Bitcoin and US equities both higher. Many investors interpreted the event as a signal that the Fed is getting closer to hitting the pause button on rate hikes, which could be positive for risk assets in the near term. Bitcoin Bulls Charge Forward As Sell Wall Disappears After the Federal Open Market Committee (FOMC) announced a 0.25% increase in interest rates, crypto market and data analysis firm Material Indicators has suggested that a sell wall at the $29,400 level has vanished. This level is just above Bitcoin’s current price, which currently stands at $29,300 as of writing. According to Material Indicators Firechart, a significant level has cleared for Bitcoin, allowing the cryptocurrency to breach this zone and reclaim higher price levels. However, in the short term, Bitcoin’s 50-day Moving Average (MA) may present an obstacle, as it currently sits above the cryptocurrency’s current price. Despite this challenge, there is good news for Bitcoin bulls, as the cryptocurrency’s Average Directional Index (ADX) has experienced a significant drop and is approaching the neutral level. As seen in the 1-day chart below, this drop in ADX is often followed by a strong uptrend, potentially propelling Bitcoin back above the $30,000 mark. Moreover, Bitcoin may be able to trade above its 50-day MA and regain it as a support level, as it has been doing for the last month before its 5% decline last week. These technical indicators suggest that Bitcoin may be poised for a rebound shortly, which could be welcome news for investors and traders alike. Featured image from iStock, chart from TradingView.com

Ripple will provide the Ripple Central Bank Digital Currency Platform and technical resources in a Controlled Pilot NGERULMUD, Palau & SAN FRANCISCO–(BUSINESS WIRE)–The Republic of Palau and Ripple have launched a limited stablecoin pilot. Palau and Ripple, the leader in enterprise blockchain and crypto solutions, started collaborating on exploring potential use cases in 2021. The U.S. Dollar-backed Palau Stablecoin (PSC) will be issued on the XRP Ledger (XRPL), a carbon-neutral blockchain that has been used to transact millions of transactions over the course of 10 years, enabling privacy and security for settlement and liquidity of tokenized assets. The pilot program will roll out in phases, with the first phase involving participation from about 200 government employees and local merchants in Palau. As part of this controlled stablecoin pilot, Palau will also leverage the Ripple CBDC Platform, an end-to-end solution for central banks to issue their own central bank digital currency, as well as the technical resources to make the PSC a digital representation of Palau’s official currency, the U.S. Dollar. The enhanced platform will now allow Palau to holistically manage and customize the entire life cycle of the stablecoin, including distribution and transactions. A stablecoin is a digital unit produced on a blockchain that maintains a fixed value. In this case, each PSC would be valued at one U.S. Dollar guaranteed by a 1:1 reserve in fiat currency and issued on the XRPL. The operational model follows other reserve-backed private stablecoins, such as USDC or USDT, with a notable difference for the PSC with the involvement of the Republic of Palau’s Ministry of Finance (MOF). The MOF will supervise the system and trigger the issuance and redemption of stablecoin units, while always guaranteeing the 1:1 reserve. “By digitizing our currency, we hope to mobilize our economy and government processes to improve financial transactions and empower our citizens. As a smaller country, Palau has the advantage to be innovative and nimble in releasing our stablecoin,” said President of the Republic of Palau, Surangel S. Whipps, Jr. “We trust in Ripple’s long-standing expertise in CBDCs and blockchain technology, as well as the carbon-neutral XRP Ledger to help create our national digital currency that will offer our citizens greater financial success,” the President added. “Ripple is honored to work with the Republic of Palau on implementing their stablecoin to help Palau accelerate their business growth by providing a single source for producing and managing digital currency,” said James Wallis, VP of Central Bank Engagements for Ripple. “Palau is a Pacific Island nation comprising over 200 volcanic and coral islands, filled with unique wildlife and vegetation. Launching the Palau Stablecoin will help the island reduce their carbon footprint and their vulnerability to the impacts of climate change.” During Phase One of the pilot program, Palau government employees who volunteered for the program will receive an allotment of PSC to be used for the pilot. The Palau Stablecoin (PSC) will bring many advantages to its citizens, merchants and the government. These benefits include greater financial inclusion and reduced overall transaction fees for citizens. The PSC will also help reduce their currency costs, while considerably accelerating the speed of transactions. To instill confidence for Palau citizens that the PSC is a secure and effective monetary tool that can support commercial activity in Palau, success criteria of Phase One of the controlled pilot should achieve the following: The Palau Ministry of Finance (MOF) are able to securely and reliably mint, distribute, and process inbound redemptions, and destroy PSC with full control over total circulation on a 24/7 real-time basis. Palau government employees are able to make purchases for goods and services at select retailers using the transfer of PSC at the point-of-sale as a means of payment. Palau retailers are able to safely and securely receive & verify payments made by individuals using the PSC, and are able to convert the received PSC to funds in their local bank account. Following the success of Phase One of the pilot program, additional phases of the Palau stablecoin will be rolled out later in the year. To learn more about the Palau Stablecoin Project, refer to the FAQs posted online: https://www.palaugov.pw/wp-content/uploads/PALAU-STABLECOIN-FAQs-2.17.23.pdf. About the Republic of Palau’s Ministry of Finance The Ministry of Finance of the Republic of Palau’s vision is to be widely recognized for sound financial management services that encourage accountability, continuous productivity of government services, and economic growth. The Ministry’s mission is to ensure accountability, continuous productivity of government services, and economic growth by promoting policies for, and sound management of, expenditures, revenues, financing, and human resources. Ultimately, the Ministry of Finance aims to serve the Republic of Palau with integrity and character with zero tolerance for fraud or corruption. About Ripple Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective – solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet – increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders. About the XRP Ledger The XRP Ledger (XRPL) is an open source, public and decentralized Layer 1 blockchain led by a global developer community. It is fast, energy-efficient, and reliable. For more than ten years, it has been the blockchain best suited to enable settlement and liquidity of tokenized assets at scale. With ease of development, low transaction costs, and a knowledgeable community, it provides developers with a strong open-source foundation for executing on the most demanding projects – without impacting the XRPL’s lean and efficient feature set. XRPL enables a wide variety of services and use cases including payments, decentralized finance, and tokenization. Learn more at XRPL.org. Contacts Raquel Prieto, Ripple Global Communications [email protected] Oyaol Ngirairikl, Communications, Palau Office of the President [email protected]

The Avalanche (AVAX) Foundation has launched a $50 million initiative, called Avalanche Vista, to pioneer the future of asset tokenization. According to the announcement, the foundation will allocate the funds to purchase tokenized assets, often referred to as “real world assets” or “off-chain assets,” minted on the Avalanche blockchain. KKR Fund Tokenization On AVAX The goal of the program is to support and demonstrate the value of tokenization, the process of creating an on-chain digital representation of an asset, item, or thing. Avalanche’s consensus mechanism, subnet architecture, and technical innovation aim to facilitate tokenization with greater speed, scalability, and customizability. Furthermore, Avalanche Vista will consider assets across the full liquidity spectrum, including equity, credit, real estate, commodities, as well as those that are blockchain-native. The initiative aims to demonstrate the merits of applying blockchain rails to historically more manual and operationally-intensive use cases, including asset issuance, settlement, transfer, and administration. The initiative follows major milestones in asset tokenization, including Securitize’s tokenization of an interest in a flagship KKR fund on the Avalanche blockchain, marking the first time exposure to one of KKR’s alternative investment strategies had been offered in a digital format in the U.S. Avalanche Vista aims to accelerate the growth of tokenization and its role in on-chain finance (“OnFi”) by unlocking broader access to private market investing. Historically, investments in private markets have been primarily reserved for large institutional investors and ultra-high-net-worth individuals. The initiative aims to enable technologies that create significant efficiencies in these processes and improve the asset issuer and investor experience. According to a report by Security Token Advisors, 77% of capital markets participants believe traditional securities will be digitized within 5-10 years, and the size of the tokenized securities market alone is expected to grow to $20 trillion by the end of 2030. With Avalanche Vista, the Avalanche Foundation is taking a big leap forward toward realizing this future. Avalanche Network Set To Unlock New Frontiers? Tokenization is a powerful technology with a wide range of potential use cases on the Avalanche network. One of the key applications of tokenization is in the real estate industry, where it can be used to represent ownership in real estate assets. By creating digital tokens that represent fractional ownership in a property, it becomes easier to buy and sell these assets, which can be particularly useful in the context of large commercial properties or high-value residential properties. Another area where tokenization can have a significant impact is finance. By representing financial assets such as stocks, bonds, and other securities as digital tokens on the blockchain, it becomes easier to trade and settle these assets securely and transparently. Tokenization can also be used for identity verification, allowing for the secure storage and transfer of digital identities. This has the potential to reduce the need for central authorities in the verification process, making verifying identities easier and more efficient. Other potential applications of tokenization on the Avalanche network include art and collectibles, renewable energy, and charity and non-profit organizations. As the technology continues to develop, it can be expected to have more innovative use cases, transforming a wide range of industries and applications. Despite the potential for tokenization on the Avalanche network, the price of AVAX has remained relatively stagnant over the past few days. Over this period, AVAX has been trading within a narrow range of $13.10 to $13.53. As of now, AVAX is trading at $13.18, which represents a decline of 1.2% over the past 24 hours and more than 5% over the past seven days. Featured image from Unsplash, chart from TradingView.com

Every Committee Now Comprised of a Majority of Directors Who Joined in Past Three Years, with at Least One Director on Each Committee Nominated by WisdomTree Stockholder ETFS Capital New Committee Compositions Reflect Sustained Commitment to Board Refreshment and Enhancing Stockholder Engagement NEW YORK–(BUSINESS WIRE)–WisdomTree, Inc. (NYSE: WT) (“WisdomTree” or the “Company”), a global financial innovator, today announced that at today’s meeting of WisdomTree’s Board of Directors (the “Board”), the Board appointed new chairs and members to all three committees of the Board, effective immediately. The newly constituted committees are as follows: Audit Committee: Harold Singleton III (Chair), Lynn S. Blake, Anthony Bossone and Daniela Mielke Compensation Committee: Win Neuger (Chair), Lynn S. Blake, Anthony Bossone, Smita Conjeevaram and Shamla Naidoo Nominating and Governance Committee: Smita Conjeevaram (Chair), Lynn S. Blake, Daniela Mielke, Tonia Pankopf and Harold Singleton III With these changes, two of the three committees are now chaired by directors who joined the Board within the past three years, and every committee is comprised of a majority of directors who joined within that time. Additionally, every committee includes at least one director nominated by WisdomTree stockholder ETFS Capital. Jonathan Steinberg, Chief Executive Officer of WisdomTree, said, “Our new independent directors have quickly become integral voices in our boardroom and demonstrated their skills and expertise, and we’re pleased to welcome them into these roles as members and chairs of key Board committees. We’ve dedicated considerable time and resources to onboarding the independent directors who have joined our Board in the past three years and providing them with the knowledge of our business and experience needed to support and enhance our growth. These appointments reflect our ongoing commitment to refreshing our Board and driving value for WisdomTree stockholders.” Mr. Steinberg continued, “We are particularly pleased that Harold Singleton III and Smita Conjeevaram will serve as committee chairs. Since their appointments to the Board in 2022 and 2021, respectively, they have both contributed skills and experience that are essential to our Board and WisdomTree’s future success. They are proven leaders and I believe that in their new positions, they will continue to contribute to WisdomTree’s growth in collaboration with the rest of our Board and management.” Win Neuger has also been elected to the role of independent Board Chair, replacing Frank Salerno, whose many years of service to WisdomTree concluded at the 2023 Annual Meeting of Stockholders on June 16, 2023. Shamla Naidoo and Tonia Pankopf have joined the Board as independent directors and now sit on the Compensation Committee and Nominating and Governance Committee, respectively. Ms. Naidoo and Ms. Pankopf are currently engaged in the Company’s comprehensive director onboarding program. Win Neuger, Chair of WisdomTree’s Board of Directors, said, “While our newest directors, Shamla Naidoo and Tonia Pankopf, are continuing to learn about our business and operations, I am certain that their expertise will be beneficial to the Company and our Board committees. We’re confident they will make substantive contributions to our Board. Finally, I want to express my gratitude for Frank Salerno’s immense contributions to WisdomTree over the years.” About WisdomTree WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models and solutions. We empower investors to shape their future and support financial professionals to better serve their clients and grow their businesses. WisdomTree is leveraging the latest financial infrastructure to create products that provide access, transparency and an enhanced user experience. Building on our heritage of innovation, we are also developing next-generation digital products and structures, including digital funds and tokenized assets, as well as our blockchain-native digital wallet, WisdomTree Prime. WisdomTree currently has approximately $97.0 billion in assets under management globally. WisdomTree® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide. Cautionary Statement Regarding Forward-Looking Statements Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the Board members, the effectiveness of WisdomTree’s board refreshment process in identifying candidates with the set of skills to oversee WisdomTree’s strategy, and WisdomTree’s ability to achieve its financial and business plans, goals and objectives and drive stockholder value, and other risk factors discussed from time to time in WisdomTree’s filings with the Securities and Exchange Commission (“SEC”), including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 10-K, filed with the SEC on February 28, 2023, and in subsequent reports filed with or furnished to the SEC. WisdomTree assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date. Category: Business Update Contacts Investor Relations WisdomTree, Inc. Jeremy Campbell +1.646.522.2602 [email protected] Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735 [email protected] / [email protected]

A new bug called “Zenbleed” affecting specific AMD CPUs has been found that can potentially leak info, such as keys attached to crypto wallets. AMD Zenbleed May Be Exploited To Leak Crypto Wallet Keys As reported by the computer-focused news website Tom’s Hardware, a new vulnerability related to AMD CPUs has been discovered that can compromise sensitive info such as passwords and encryption keys. This bug was independently found by Travis Ormandy, a Google Information Security researcher, who has now made public a documentation of this vulnerability. The Zenbleed exploit works on all products that use AMD’s “Zen 2” architecture. Tom’s Hardware notes that even the AMD EPYC processors in data centers aren’t free from this vulnerability. With this bug, a malicious hacker can potentially get locked information through the CPU and be able to access the user’s login credentials. Naturally, this also means that the keys of a crypto wallet, if installed on the same hardware, may no longer be safe. This vulnerability is so powerful that the attacker doesn’t require physical access to the PC or server; it can be executed through javascript on a webpage, like that inside an ad. AMD has released a new security advisory about Zenbleed that breaks down when the different patches may be released for its various products. According to this information, the consumer CPUs from the Ryzen 3000 and 4000 series, and some from the 5000 line, will not get appropriate fixes until November and December of this year. This would suggest that these home-computer processors might not be protected until the end of the year. “AMD’s processors used in the PS5, Xbox Series X, and S, and Steam Deck are all also powered by Zen 2 chips, but it remains unclear if those are impacted,” explains Tom’s Hardware. Which Digital Asset Wallets Would Be Affected? Any crypto wallets the user would directly install on their PC could be vulnerable to this exploit. However, keys stored on dedicated devices like hardware wallets should be safe. Encryption keys stored on locked-down computers (that is, those disconnected from the internet) should also be unaffected by the vulnerability. Recently, there has been a push towards self-custody in the crypto sector, as investors have slowly become aware of the risks related to centralized platforms after established players such as FTX have gone down during the past year. However, Bugs like these showcase that although self-custodial wallets may be safer than keeping coins on centralized platforms, some types are less safer than others. For example, the hot wallets that need to be connected to the internet can potentially fall prey to such vulnerabilities. At the time of writing, Bitcoin is trading around $29,300, down 2% in the last week.

According to a recent report by Reuters, Sam Bankman-Fried, former CEO and founder of the bankrupt cryptocurrency exchange FTX, has had his bail conditions tightened by a US judge following allegations of witness tampering. While the judge declined to jail Bankman-Fried immediately, he imposed a “gag order” requested by prosecutors and gave both sides until August 3 to submit written statements detailing their positions. FTX Founder Accused Of Witness Tampering By U.S. Prosecutors Per the report, U.S. Prosecutors had requested that Bankman-Fried be jailed, accusing him of crossing a line by sharing the personal writings of his former partner, Caroline Ellison, with a journalist. This was said to be a second instance of witness tampering. Bankman-Fried is facing trial over the collapse of FTX, with prosecutors alleging that he stole billions of dollars in customer funds to plug losses at his crypto hedge fund, Alameda Research. He has pleaded not guilty to the charges. Ellison, who was Alameda’s former CEO, has pleaded guilty to fraud charges and has agreed to cooperate with prosecutors. Bankman-Fried has mainly been confined to his parent’s home in California since his extradition from the Bahamas in December 2020, where FTX was based. However, Bankman-Fried’s lawyer Mark Cohen argued that his client was merely trying to protect his reputation through his contacts with journalists and that it would be challenging to prepare for trial if he were jailed. Overall, investors and industry participants will closely watch the outcome of Bankman-Fried’s case. The FTX former CEO is a prominent figure in the cryptocurrency world, and his case will serve as a key test of the industry’s legal and regulatory framework. Featured image from Unsplash, chart from TradingView.com

COMP, THE native token of Compound Finance, has seen its market price rise significantly on Wednesday, emerging as the top gainer of the day. According to data from CoinMarketCap, COMP is up by 13.24% in the last 24 hours as the bulls increase their control of the market. Initially, COMP began the week with a bearish trend, declining by 16% to trade at $59.14 on Tuesday. However, after touching this price level, the token began showing signs of recovery moving its market price to $62.34 at the close of Tuesday’s market. In the early hours of Wednesday, COMP gained over 11%, hitting a price of $69.84, and has since been hovering around that price region. Looking at its broader price movement, COMP has recently been among the most popular tokens, gaining over 90.55% in the last four weeks. COMP Price Analysis And Prediction According to Compound’s daily chart, its Moving Average Convergence Divergence (MACD) has crossed below its signal line, indicating a bearish trend may soon occur. Based on its current price movement, COMP is currently consolidating around the $69.70 price zone. Related Reading: Compound (COMP) Token Rallies Over 100% After CEO Quits – Details If COMP bulls are able to significantly strengthen their grip on the market, the DeFi coin may break out of this zone, trading as high as $78.67. This indicates a potential 12% on its current market price. On the other hand, if the bears reassume market control, COMP is expected to retest at $55.72, which marks its imminent major support level. However, with significant selling pressure, COMP could trade as low as $22.97. It is worth stating that traders should watch out for the impending Fed interest rate announcement, which may likely play a role in the token’s short-term price movement. At the time of writing, Compound is changing hands at $69.41, with a 0.89% gain in the last hour. The token’s daily trading volume is valued at $186.71 million, having gone up by 31.28%. With a market cap of $541.25 million, COMP ranks as the 71st largest cryptocurrency. Fed Interest Rate Decision Approaches In other news, the crypto space and the general financial markets are anticipating the interest rate decision by the United States Federal Reserve (Fed) on Wednesday. It is widely expected that the American apex bank will announce a 25 basis points rate hike, bringing the current interest rate to 5.5%. This would mark the 11th rise in the Fed’s interest rate since early 2022. Related Reading: Upcoming Interest Rate Hikes Could Be The Next Big Challenge For Bitcoin, Here’s Why An increase in interest rates is generally executed to combat inflation. However, interest rate hikes are also known to produce a negative effect on cryptocurrency prices as it reduces spending and investment ability. Following the last interest rate hike by the Fed in May, Bitcoin dipped by 1%. In April, the market leader significantly declined by 3% after the Fed announced a similar 25 bps rate increase. So another hike will likely lead to a further decline in price.

The Bitcoin price has been underwhelming in the past few days, reflecting the current state of the cryptocurrency market. On Monday, July 24, investors watched the price of the premier cryptocurrency retreat beneath the $30,000 mark again. Let’s look at what the on-chain metrics say about this latest fall below the critical price level. 69% Of Bitcoin Holders In Profit After Fall Below $30,000 A data report from IntoTheBlock reveals that roughly 68.96% of Bitcoin holders remained green after the price retreat below the $30,000 mark. There is also an indication of significant buying activity around this price level, with more than 3.4 million wallets acquiring BTC at this zone. Source: IntoTheBlock via Twitter According to the market intelligence platform, the $30,000 mark has often served as a psychological support level for investors. However, it remains to be seen whether traders will hold or opt out of their positions if the coin continues its current bearish form. Interestingly, on-chain data reveals that BTC’s volatility is currently at its historical low, suggesting that a significant price movement is imminent. Related Reading: Litecoin Bulls Barrel Back Toward $92 Level – Will They Succeed? Bitcoin currently trades at $29,225, with a slight 0.4% price increase in the past day, according to CoinGecko data. A look at its broader market reveals that the coin has been on a 5% price decline in the past two weeks. Since falling below the $30,000 mark on July 24, the price of Bitcoin is yet to recover above this level as it often has in recent times. Bitcoin Experiences Increased Network Growth And Activity While the recurrent price dip below $30,000 in July may have raised some concern amongst investors, there are positive signs demonstrating Bitcoin’s resilience and overall stability. For instance, the creation of new addresses recently hit a yearly high, suggesting increased user growth, which might positively influence the coin’s price. IntoTheBlock’s New Adoption Rate metric further fuels the optimism around Bitcoin. This metric measures the ratio of new active addresses compared to total activity. According to the analytics platform, there was a sudden spike in the new adoption rate of Bitcoin in July. For context, this rate has been in a range for most of 2023. Moreover, Bitcoin’s transaction volume has been relatively healthy, despite initial concerns about a potential decline following the Ordinals’ frenzy in Q2 2023. However, Bitcoin’s NVT (Network Value to Transactions) ratio is unusually high. According to Glassnode, an NVT ratio describes the relationship between the market cap and transfer volume, with a high value often suggesting overvaluation and bearish sentiment.