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  • Aug 13, 2024

US producer inflation slows as pricing power diminishes

U.S. producer prices increased less than expected in July as the cost of services fell by the most in nearly 1-1/2 years amid signs of diminishing pricing power for businesses, evidence of waning inflation pressures that reinforced hopes of an interest rate cut next month. The report from the Labor Department on Tuesday also showed favorable readings for most of the components that go into the calculation of the personal consumption expenditures (PCE) price indexes, the inflation measures tracked by the Federal Reserve for monetary policy. A surge in the unemployment rate to a near three-year high of 4.3% in July fanned fears in financial markets of a recession, which have been largely dismissed by economists.

  • Aug 13, 2024

Crypto Insiders Courting Vice President Harris Chase Whispers of Her Openness

While U.S. crypto insiders continue to pound away at a noncommittal Biden administration, a more urgent mission is developing to find out the digital assets views of Vice President Kamala Harris, though her dual life as vice president and presidential candidate may interfere with taking a strong stance.

  • Aug 13, 2024

Bitcoin Price Unlikely to See a Breakout Until Q4, Say Analysts

As the cryptocurrency market stabilizes following a turbulent period, a new analysis cautions against anticipating a significant breakout in the price of Bitcoin until the last quarter of the year. Singapore-based digital asset firm QCP Capital said that the market may remain in a holding pattern for the foreseeable future, even as some encouraging signs emerge. Bitcoin’s overnight recovery to reclaim the $60,000 mark suggests that BTC has managed to stabilize after last week’s sell-off. It tick...

  • Aug 13, 2024

Kamala Harris Campaign Showing 'Concerted Effort' to Understand Crypto: Circle CEO

Attempts by U.S. Vice President Kamala Harris’s presidential campaign to better understand the crypto industry are happening and mark a "concerted effort" in that regard, according to Circle CEO Jeremy Allaire. The stablecoin tycoon said Wednesday that he was in attendance for a Zoom meeting last week that brought together crypto leaders and White House officials—some of which included unnamed “Harris folks.” “What I can say is there is a concerted effort both from the administration and the Har...

  • Aug 13, 2024

UEFA Champions League Adds Crypto.com as Multi-Year Sponsor

Crypto.com is now sponsoring the UEFA Champions League, the firms announced Wednesday, with the popular European soccer competition serving as the latest addition to the crypto exchange’s long list of sports alliances. The multi-year global sponsorship will include in-stadium activations and broadcast integrations, as well as a series of advertising campaigns. Crypto.com and the Champions League said in a statement that they aim to drive fan engagement through the activities. “This exclusive par...

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