Daily Digest: The Most Impactful Stories Right Now

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CoinGape Media
August 11, 2024

News

🚨 Iran Allegedly Hacked Donald Trump US Election Campaign

Donald Trump's 2024 US election campaign accuses Iran of hacking its internal communications, fueling speculation amid ongoing US-Iran tensions.

The election campaign of Donald Trump has recently been hacked, according to reports. The campaign points fingers at Iran, blaming the nation’s involvement in the security breach where internal communications have been compromised. This incident has fueled discussions, especially amid the ongoing tensions between the US and Iran.

Having said that, this latest security breach adds further speculations amid the recent buzz over the former US President’s 2024 US Presidential race.

MakerDAO evaluates risk amid WBTC custody changes due to Justin Sun's new role in the BitGo and BiT Global joint venture.

MakerDAO, a prominent player in the decentralized finance (DeFi) sector, is assessing the impact of the upcoming Wrapped Bitcoin (WBTC) custody shifts on its risk management framework.

Due to BitGo, a major WBTC custodian, recent statement that it would transfer the control of the product to a new joint venture with BiT Global, the governance-focused DAO has adopted a rather conservative approach.

The upcoming US CPI data is expected to show a spike in inflation, fueling concerns over its potential impact on the Federal Reserve's rate cut plans.

The US Consumer Price Index (CPI) inflation for July, which is scheduled to be released by the Labor Department on Wednesday, August 14, is expected to spike. This has fueled discussions about whether it will hinder the US Federal Reserve’s rate cut plans at their upcoming meeting. According to market estimates, inflation is expected to rise 0.2%, following a drop of -0.1% in the prior month.

Markets

Ethereum (ETH) price holds steady above $2,600, targeting $3,000 as more investors bet in favour of Ether not reaching all-time high in 2024.

Ethereum (ETH) price faces a potential 30% drop despite attempts to recover fully from Monday’s crash. An uncertain economic outlook due to high interest rates and a potential recession in the US could catalyze bearish sentiment in the market, significantly suppressing upward price movement.

Here's a brief collection of some of the most trending crypto market updates for this week, encompassing Bitcoin, U.S. elections, and Ripple's recent developments.

HThe crypto realm ends another week with a plethora of events witnessed across the broader industry. Bitcoin’s (BTC) price dipped to a $49K low in the past seven days, primarily attributable to the Japanese market crash. Moreover, the U.S. presidential elections have taken a new turn recently, favoring Democratic Kamala Harris. Meanwhile, Ripple has marked a pivotal moment, concluding its lawsuit with the SEC this week.

Here’s a collection of the top crypto updates reported in the past seven days that have echoed a bustle among market participants.

​​Spot Ethereum ETFs saw $104.8M in weekly inflows amid mixed market sentiment, with BlackRock leading gains and Grayscale facing significant outflows.

Spot Ethereum ETFs experienced significant activity over the past week. These products recorded both substantial inflows and outflows, leading to a mixed sentiment in the market. The cumulative net inflow into spot Ethereum ETFs reached nearly $105 million by the end of the week owing to the strong start. Hence, it sparked discussions on the potential for Ethereum (ETH) to push towards the $3,000 mark.