A mining ban went into effect in the African nation in April 2024, followed by Chinese officials warning residents not to “support or engage in virtual currency mining activities.” The International Criminal Police Organization, or Interpol, announced more than a thousand arrests and the seizure of about $100 million as part of a crackdown that included cryptocurrency miners and fraudsters. In a Friday notice, Interpol said it had coordinated with authorities in Angola to dismantle 25 crypto mining centers being illegally run by 60 Chinese nationals. The organization said it had seized equipment worth more than $37 million, which the Angolan government plans to distribute to “vulnerable areas.” Read more
Record ETF inflows pushed Ether holdings to 6.4 million, tightening supply as the price tested $4,668 after dovish comments from the Federal Reserve Chair Jerome Powell. Key takeaways: Spot Ether ETFs posted record inflows of $7.88 billion across July and August, driving custodial holdings to 6.42 million ETH. ETH tags $4,650 following a 10% rally after Powell hints at a potential rate cut in September. Read more
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