US ECONOMY
Bitcoin (BTC) Faces Potential Bottom Amid Market Volatility
Bitcoin experiences significant drawdown, trading below $94,000. Market indicators suggest potential stabilization, while US economic challenges and regulatory developments add complexity.
Crypto-friendly banks closure could pose a challenge for crypto companies
The closure of three major crypto-friendly banks in the US, Signature Bank, Silicon Valley Bank, and Silvergate Bank, could pose a challenge for crypto companies in accessing traditional banking partners. The loss of these banks could impact crypto liquidity, and some experts believe that it may leave crypto companies without banking options. However, some in the industry believe that it could create room for another bank to step up and fill the vacuum, while others suggest that there are already viable alternatives available.
US GDP Shrunk by 0.9% in Q2, Implications for the Crypto Industry
The Gross Domestic Product (GDP) in the US shrunk by 0.9% in Q2. Would the crypto space be dragged by inflation or even recession in these financial activities?
US Congressmen Urge Trump to Implement Blockchain Technology for COVID-19 Relief
Nine members of the US Congress advocated for the benefits of leveraging blockchain technology to counter the crisis brought upon by COVID-19.