Bitcoin recovers from a trip to six-week lows as Fed Chair Jerome Powell gives strong "dovish" clues over where interest rates will head in September. Key points: Bitcoin returns to $116,000 after gaining over 2% in minutes thanks to “dovish” comments from Fed Chair Jerome Powell. Powell’s Jackson Hole speech cemented the odds of an interest-rate cut next month. Read more
Coinbase is reinforcing security after North Korean hackers exploited its remote work policy, with CEO Brian Armstrong outlining stricter hiring measures. Coinbase, the world’s third-largest cryptocurrency exchange by volume, has come under a wave of threats from North Korean hackers seeking remote employment with the company. North Korean IT workers are increasingly targeting Coinbase’s remote worker policy to gain access to its sensitive systems. In response, Coinbase CEO Brian Armstrong is rethinking the crypto exchange’s internal security measures, including requiring all workers to receive in-person training in the US, while people with access to sensitive systems will be required to hold US citizenship and submit to fingerprinting. Read more
SharpLink Gaming, the second-largest Ether corporate treasury with $3.14 billion in ETH, approved a $1.5 billion stock repurchase program. SharpLing Gaming, one of the largest Ether corporate treasuries, authorized a $1.5 billion stock buyback program. In a Friday announcement, SharpLink Gaming said it authorized the repurchase of $1.5 billion worth of shares as part of its “disciplined capital markets strategy.” No repurchases have been made so far. The firm’s Co-CEO Joseph Chalom said the firm will consider buybacks when its stock trades at or below the net asset value of its Ether (ETH) holdings. “This program provides us with the flexibility to act quickly and decisively if those conditions present themselves,” Chalom added. Read more