Argentina Financial News

 

Bitcoin (BTC) has dropped by more than 13% this week and has failed to hold support at $22,000 after successfully breaching $25,000 in the interim. Ethereum (ETH) has dropped 18% weekly and is now trading near $1,600. Total crypto market cap is now hovering near $1 trillion. Given September is traditionally a red month for Bitcoin and crypto markets, investors are anticipating further pain before the final bottom is discovered. With Ethereum’s Merge scheduled for mid-September, the possibility of ‘sell-the-news’ event wiping out monthly gains in ETH is strong. As this bear market plays out, we look at some positives in terms of adoption and other stories of the week below.Buenos Aires to deploy Ethereum validator nodes Buenos Aires (capital of Argentina) is set to become one of the first public entities in the world to help run Ethereum’s network infrastructure. In 2023, the city will work with private enterprises to install validator nodes, which are machines running the Ethereum client software. The validators are responsible for storing data, processing transactions, and adding new blocks to the blockchain, which will become part of the proof-of-stake (PoS) network consensus system being implemented in conjunction with the Merge which is anticipated to take place in mid-September.

 

Binance says it is winning crypto clients thanks to inflation

The largest cryptocurrency, bitcoin, topped $25,000 on Sunday for the first time since June, with data on Bitstamp’s exchange hitting $25,050, the highest level since June 13.

Climate change has become an important issue over the years due to concerns over environmental changes caused by the emission of greenhouse gasses into the atmosphere. Conversations have even reached the crypto space, and blockchain technology is being considered a potential tool to reduce carbon emissions.

Binance announced on Friday that its Binance Card now supports three new altcoins. Card users now have the possibility to access their holdings of Ripple (XRP), Shiba Inu (SHIB) and Avalanche (AVAX). 

Binance, a major global cryptocurrency exchange, announced on Thursday the launch of a crypto prepaid card in Argentina through a partnership with Mastercard to bridge the gap between cryptocurrencies and daily purchases.

Major crypto exchange Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina.

Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines.

Massive layoffs continue engulfing the crypto market. Blockchain.com took the latest actions by reducing its workforce by 25%.

Residents in nations with volatile economies are more likely to receive their pay in crypto, according to global hiring platform Deel. 

Brazilian crypto exchange Mercado Bitcoin could begin operating in Mexico sometime in 2022, pending regulatory approval.

Crypto startup Blockchain.com says it is laying off 25% of its staff, citing harsh market conditions.

The Bitcoin (BTC) bet has somewhat backfired for the small nation as the top cryptocurrency trade at a 70% discount from its top. At a time when the Latin American nation is struggling with its debt, Morgan Stanley has given a buy call for the battered Eurobonds.

Bitcoin (BTC) sets people free. At least, that was the story at Lebanon’s first Bitcoin-themed escape room in Beirut. 

Residents of Argentina rushed to bid up the price of the popular stablecoin tether (USDT) in local fiat terms over the weekend after news broke that the country’s minister for the Economy had resigned.

Argentina, a country with one of the highest crypto adoption rates in the world, saw the price of dollar-pegged stablecoins surge across exchanges on Saturday after the abrupt resignation of its Economy Minister, Martin Guzman. 

Argentina’s tax authority has seized more than 1,000 cryptocurrency wallets linked to delinquent taxpayers in the country.

For Maurice Mureau, CEO of crypto investment fund operator Hodl, there's "not a lot left" to invest in anymore. With soaring inflation, bonds are no go, real estate is getting more difficult, but there is one asset class that's (unsurprisingly) catching the fund manager's attention – cryptocurrencies. During the European Blockchain Convention in Barcelona this week, Cointelegraph Editor Aaron Wood sat down with Mureau, who gave his insight on the outlook of the digital assets investment landscape.

The crypto exchange and payments company Crypto.com (CRO) announced on Friday that it now accepts Apple Pay in its app for US users.