Bitcoin jumped after the release of weak US inflation data.
The crypto market has reached the bottom and is ready for growth, according to JPMorgan. A large German crypto bank has declared insolvency.
The Coinbase crypto exchange recorded losses twice as high as forecasts. Hackers withdrew more than $500,000 from the Curve Finance protocol through a phishing site.
Bitcoin rose 3.3% on Wednesday, ending the day at about $23,900. BTC jumped along with stock indexes after the release of weak US inflation data. A decrease in inflation may weaken the pace of the Fed's aggressive rate hike, which is favorable for cryptocurrencies and all risky assets.
The crypto market has reached the bottom and is ready for growth, according to JPMorgan. The negative effect of the collapse of Terra has been overcome, and the future transition of the Ethereum network to PoS will have a beneficial effect on cryptocurrencies.
In July, public mining companies sold 5768 BTC with a total production of 3478 BTC, Hashrate Index experts calculated. In the United States, two mining companies announced the expansion of capacities aimed at bitcoin mining.
German cryptocurrency bank Nuri (formerly Bitwala) with a client base of more than 500,000 people, announced its insolvency due to the collapse of the crypto market and the bankruptcy of a number of crypto companies. Clients' funds are safe, Nuri assured.
The American crypto exchange Coinbase reported losses for the second quarter in the amount of $1.1 billion, which doubled the forecasts. The largest loss since the listing was caused by the "hard" fall of the crypto market.
The developers of the DeFi Curve Finance protocol reported a phishing attack, as a result of which users lost more than half a million US dollars in cryptocurrencies.
The widespread introduction of crypto assets in the metaverse may pose a systemic risk to financial stability and will require reliable consumer protection, according to the Bank of England.