Solana-Based Automation Startup Clockwork to Shut Down
Solana-based automation project Clockwork’s developers are moving on from the venture-backed startup after finding it had “limited commercial upside.”Source
Bitcoin Slumps Under $26K as Bearish Outlook Engulfs Crypto Market
Price-charts suggest more declines ahead even as large investors are adding on their bitcoin holdings, one trader said.Source
Ethereum’s Daily Transaction Fees Drops to 8-Month Low of $2.8M
Ethereum’s daily total transaction fees fell to 1,719 ETH ($2.8 million) on Sunday, the lowest single-day total since Dec. 26.Source
Visa And Mastercard Distancing Themselves From Binance Unlikely to Hurt the Crypto Exchange: Experts
The decision comes only weeks after Binance has been grappling with multiple legal challenges in the U.S.Source
Bitcoin Dips Below $26K, Smaller Cryptos Head Lower on Fed’s Powell’s Hawkish Remarks
Federal Reserve chair Powell speaking at Jackson Hole doubled down on keeping financial conditions tight, including hiking interest rates further if needed.Source
Binance Delists Sanctioned Russian Banks From Peer-to-Peer Service
Binance has cut ties with five sanctioned Russian banks that were listed on the exchange’s peer-to-peer service to let users transfer funds in rubles, the country’s native currency.Source
Sweeping U.S. Tax Proposal Met With Boos From Crypto World
An immediate burst of criticism from the crypto industry shows the U.S. Treasury Department’s new proposal on how to handle digital assets taxes will face a long road as it enters a months-long period of public comments and hearings.Source
Fed’s Powell at Jackson Hole: Prepared to Raise Rates Further if Appropriate
Market participants were looking to Friday morning’s speech to gauge the future direction of the U.S. central bank’s monetary policy.Source
Celsius Token Holders Lose Bid to Hike CEL Valuation
Creditors of the bankrupt crypto lender argue it should be valued at $0.80, its nominal price when the company collapsed, despite allegations of market manipulationSource
Default of Tokenized Loans on Centrifuge Puts MakerDAO’s Investment at Risk
DeFi giant MakerDAO has lent $1.8 million of DAI stablecoin to the tokenized credit pool under distress.Source