Coinlive Morning Post - August 15th

policy

▌Bitcoin Archive: Iran Allows Mined Bitcoins to Pay for International Transactions

Bitcoin Archive tweeted that Iran allows mined bitcoins to be used to pay for international transactions, but bans bitcoin transactions and domestic payments.

cryptocurrency

▌Aave: Addresses affected by Tornado Cash small amount pollution have been removed

Aave posted on social media that after the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) included Tornado Cash on the Sanctions List (SDN), the Aave team urgently integrated the API of blockchain intelligence company TRM Labs on the front end of IPFS to screen and Block addresses that interact with the sanctioned Tornado Cash contract. TRM’s API Risk Parameters can identify all wallets that have interacted with the Tornado Cash contract after sanctions, even addresses that have received 0.1ETH transfers from Tornado Cash. These wallet holders may experience issues while on the Aave app, one of the front ends of the Aave protocol. Aave said it is aware that the API may have made incorrect calls to which wallets should be included in the block list, affecting addresses that received 0.1ETH transfers from Tornado Cash without consent. The Aave team has lifted the ban on the relevant addresses and stated that it will continue to evaluate responsible and reasonable risk mitigation measures in emergency situations.

▌Wall Street Journal: North American pension funds are still bullish on the crypto market in a bear market

According to the Wall Street Journal, pension funds across North America remain bullish on cryptocurrencies despite the losses caused by the bear market, an interest notably reflected in asset management firm VanEck. Other pension funds see the bear market as an opportunity to invest further. The investment director of a Virginia-based pension fund told the Wall Street Journal that during the cryptocurrency winter, fewer people are willing to invest in cryptocurrencies and the yields are more attractive. However, not all pension funds can withstand the volatility of cryptocurrencies. A $300 Billion Pension Fund for California Teachers Is Avoiding Investing in Crypto Markets Due to High Risks.

▌Binance Executive: Retail Investors Flock to Bitcoin and Cryptocurrencies

According to a new report from Reuters, Binance Latin America head Maximiliano Hinz said that rising global inflation is driving investors to buy BTC and other digital assets, as A means of protecting wealth. Binance is seeing a surge in new users due to inflation and a stronger U.S. dollar, Hinz said. Argentina is one of the crypto exchange giant's best-performing markets, with an annual inflation rate of 71% as of July. Brazil and Mexico are also Binance’s largest markets. Regulation is a framework, but having something unregulated is not always a negative. If something is not prohibited, then it is legal.

▌FTX.US President: Cryptocurrency Winter "Begins to Unfreeze"

According to a report published by The Daily Hodl, the president of FTX.US claimed that the transaction shows that the cryptocurrency winter is "beginning to thaw," noting the huge impact of institutional demand on crypto assets. He claimed that now is the "time to build" so that the tools and capital are ready for investors to start trading cryptocurrencies in large numbers again. Harrison also pointed to the rise in crypto asset prices across the market and the end of forced liquidations and crypto company failures. According to him, the combination of rising prices and positive sentiment seems to have contributed to the narrative that the crypto winter is coming to an end.

▌The Uniswap front-end has begun to block the addresses that receive Tornado small transfers

According to community news, the Uniswap front-end has now begun to ban addresses that have received transfer pollution from Tornado Cash-related addresses. The content of the prompt shows that the address is blocked by the Uniswap Labs interface because the address is related to one or more prohibited activities. In addition, Uniswap has also provided a complaint channel.

▌Michael Saylor: Bitcoin will demonetize gold

Former MicroStrategy CEO Michael Saylor predicts that Bitcoin will eventually demonetize gold over time. In the 21st century, gold will not be used as money. Gold was the metallic currency of the 19th century. Bitcoin will become an institutional investment-grade asset that will be welcomed by major investors, regulators, and lawmakers. A spot-based bitcoin ETF could emerge a year from now.

important economic trends

▌Bank of America analyst: If the labor market report is strong again, it will be difficult for the Fed not to raise interest rates by 75 basis points in September

Minutes from the Federal Reserve's July monetary policy meeting are due to be released after two weeks of turmoil on Wall Street, which may provide some clues to help investors understand what factors may prompt the central bank to tighten again in September. The Fed raised rates by 75 basis points for the second straight month in July, the fastest pace of tightening since the early 1980s. Financial markets are currently betting on the magnitude of a September rate hike in the range of 50-75 basis points after reports showed a stronger-than-expected job market and weaker-than-expected inflation. Michael Gapen, an analyst at Bank of America, said that from a cost-benefit analysis, if the Fed is inclined to raise interest rates slightly, the inflation data may help it, but if the labor market report is strong again, it may be difficult for the Fed not to raise interest rates by 75 basis points.