Bitcoin jumped after the release of weak inflation data in the US. The crypto market has reached the bottom and is ready for growth, according to JPMorgan. A major German crypto bank has filed for insolvency. Crypto exchange Coinbase recorded losses twice as high as expected. Hackers deducted more than $500,000 from the Curve Finance protocol via a phishing site. Bitcoin rose 3.3% on Wednesday, ending the day near $23,900. BTC jumped along with stock indices after the release of weak US inflation data. Decreasing inflation could ease the pace of the Fed’s aggressive rate hike, which is good for cryptocurrencies and all risky assets. The crypto market has reached the bottom and is ready for growth, according to JPMorgan. The negative effect of the collapse of Terra has been overcome, and the future transition of the Ethereum network to PoS will have a beneficial effect on cryptocurrencies. In July, public mining companies sold 5768 BTC with a total production of 3478 BTC, Hashrate Index experts calculated. In the United States, two mining companies at once announced the expansion of capacities aimed at mining bitcoins. The German cryptocurrency bank Nuri (formerly Bitwala), with a client base of more than 500,000 people, has declared its insolvency due to the collapse of the crypto market and the bankruptcy of a number of crypto companies. Client funds are safe, Nuri assured. The American crypto exchange Coinbase reported a loss for the second quarter in the amount of $1.1 billion, which was twice the forecast. The biggest loss since the listing was caused by a “hard” drop in the crypto market. The developers of the DeFi protocol Curve Finance reported a phishing attack, as a result of which users lost more than half a million dollars worth of cryptocurrencies. The widespread adoption of cryptoassets in the metaverse could pose a systemic risk to financial stability and would require robust consumer protection, according to the Bank of England. Source: FXPro

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