Crypto News
Latam Insights: El Salvador to Receive $1.61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks Binance
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador attracts $1.61 billion in investments for its economic overhaul plan, the Venezuelan government blocks Binance using a state-owned ISP, and the Paraguayan justice system convicts an individual for energy theft crimesSource link
BitVM Version 2 Introduces New Era for Bitcoin L2 Scaling Solutions
On Aug. 15, 2024, the white paper for BitVM2 was published, outlining significant advancements in Bitcoin’s layer two (L2) capabilities. Building on the foundation laid by BitVM version 1, BitVM2 aims to bridge Bitcoin to second layers with improved scalability and security. New BitVM2 White Paper Introduces Advanced Solutions for Bitcoin L2 Scaling The originalSource link
Bets on Harris Slide in Predictions Market After Her Price Controls Plan Sparks Controversy
In a twist of political fortunes, Vice President Kamala Harris, who had been leading in the race against former President Donald Trump for the 2024 election, saw her odds dip significantly after rolling out her economic plans. Over the past 72 hours on Polymarket, her chances have taken a hit, dropping four percentage points, whileSource link
UBS Urges Caution Despite Positive US Economic Data
UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to waitSource link
Fedwatch Tool and Polymarket Indicate Strong Odds for September Rate Cut
Right now, the market is leaning towards the U.S. Federal Reserve lowering the benchmark interest rate at the Sept. 18, 2024, Federal Open Market Committee (FOMC) meeting. The CME Fedwatch tool currently indicates a 75% likelihood of a 25-basis-point (bps) rate cut. Over on Polymarket, bettors are even more confident, showing an 82% chance ofSource link