Inflation in the United States in July decreased more than forecast to 2.9%, Goldman Sachs invested $418 million in Bitcoin ETFs, Dubai court recognizes crypto as a valid salary payment, Donald Trump raked in over $7M from NFTs, Google took three months to remove scam app that stole over $5 million in crypto: lawsuit

Cryptocurrencies keep pushing boundaries, and each headline is a testament to the industry’s growth. Let us bring you up to speed with the most significant stories from the past week. Next week also promises to be full of events that may affect the overall market picture.

Review of the past week:

August 14, 2024

Inflation in the United States in July decreased more than forecast to 2.9%

Overall inflation was 2.9 percent in July on a yearly basis, the Bureau of Labor Statistics reported on Wednesday, down from 3 percent in June and slightly milder than what economists had expected. Read more

August 14, 2024 Goldman Sachs invested $418 million in Bitcoin ETFs

The latest filing shows that as of June 30, Goldman Sachs held 6,991,248 shares of iShares Bitcoin Trust ($239 million), 1,516,302 shares of Fidelity Wise Origin Bitcoin ($79.55 million), 940,443 shares of Invesco Galaxy Bitcoin ETF ($56.19 million), 660,183 shares of Grayscale Bitcoin Trust ($35.15 million) .Read more

August 16, 2024 Dubai court recognizes crypto as a valid salary payment

UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.

 Read more

August 16, 2024 Donald Trump raked in over $7M from NFTs, new disclosure shows

Former president Donald Trump disclosed that he owns up to $5 million in crypto and has earned over $7 million from his three NFT collections. Read more

August 18, 2024 Google took three months to remove scam app that stole over $5 million in crypto: lawsuit

Google has been served with a lawsuit from a Florida woman who claims she lost $5 million to a scam cryptocurrency app downloaded from the Google Play Store. Read more

 

What’s coming up for us this week:

August 21, 2024 U.S. Federal Open Market Committee (FOMC) Meeting Minutes

The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee’s policy-setting meeting held about three weeks earlier. Read more

 

As the crypto landscape evolves, so does the need for a reliable platform. At FYBIT, we provide the tools for your success. Don’t wait, trade with FYBIT.


Best regards,
FYBIT team