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Economist Expects US Rating Downgrade to Accelerate De-Dollarization Process Economists have warned about the adverse impact of Fitch’s U.S. rating downgrade on the dollar. One expects the downgrade to “accelerate” the process of de-dollarization globally. Another stated that it may be “a part of the gradual decline of the U.S. dollar system.”

DOJ Demands Revocation of Bankman-Fried's Bail, Wants Him Confined in Metropolitan Detention Center for Trial After accusations against the disgraced FTX co-founder, Sam Bankman-Fried, for allegedly meddling with a witness by providing the New York Times with excerpts from former Alameda Research CEO Caroline Ellison’s private journal, the legal team representing Bankman-Fried countered by insisting that he was merely exercising his First Amendment right to free speech. The U.S. government, however, takes a different stance, and prosecutors contend that Bankman-Fried “went beyond benignly exercising a constitutional right to speak to the press.”

Navigating the Storm: Defi's Precarious Position Amid a String of Exploits and Market Declines In the wake of July’s unprecedented wave of decentralized finance (defi) breaches, including Curve Finance’s staggering $62 million exploit, the defi economy has plummeted into a gloomy state. Hovering perilously close to dipping beneath the $40 billion threshold, the total value locked (TVL) in defi hangs on by a thread. Concurrently, the market of defi tokens has endured a sharp 12.55% decline in value in just the span of a single day.

Coinbase Urges Court to Dismiss SEC Case, Claiming Regulator 'Overstepped' Its Statutory Authority In a motion for judgment filed on August 4, Coinbase hit back against the SEC’s lawsuit alleging it facilitated unregistered trading of securities, arguing the agency lacks authority to regulate digital assets in this way.

Economist Peter Schiff Warns US Dollar Collapse 'Inevitable' Economist Peter Schiff has warned of an impending collapse of the U.S. dollar even though he sees Fitch’s downgrade of the U.S. rating this week as “meaningless.” While cautioning about a financial crisis and a crash, Schiff emphasized: “Given the trajectory of U.S. government deficit spending, a dollar collapse is inevitable.”

Robert Kiyosaki Warns of 'Crash Landing' After US Rating Downgrade Robert Kiyosaki, the renowned author of the bestselling book Rich Dad Poor Dad, has emphasized his concern about an impending crash of the U.S. economy after a prominent American credit rating agency downgraded the U.S. rating. “Brace for crash landing. Sorry for the bad news,” Kiyosaki said.

Facebook Owner Meta May Launch Chatbot ‘Personas’ Next Month, Report U.S. tech giant Meta is preparing to launch multiple chatbots powered by artificial intelligence (AI) as early as September. According to an article quoting knowledgeable sources, the company seeks to encourage user engagement on its social media platforms with the chatbots that could also be used to collect more user data.

hello, welcome to this XRP/BTC update by CRYPTO SANDERS. CHART ANALYSIS:- Against BTC, XRP’s price has been decisively rejected to the downside by the 2,800 SAT resistance level. The cryptocurrency is currently on a steep downtrend towards the 2,200 SAT area. In case the level holds, XRP is likely to attempt the 2,800 SAT area again in the next few weeks. Conversely, a breakout below the mentioned level would result in a deeper pullback, with the 50-day moving average being the probable short-term target. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/XRPBTC/kvovSbhM-XRP-BTC-1DAY-UPDATE-BY-CRYPTO-SANDERS/

hello, welcome to this XRP/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- against USDT, the price has been constantly declining after being rejected from the $0.9 resistance level. The market is likely targeting the 50-day moving average around the $0.6 support level. The 200-day moving average trending near the $0.5 mark is also another key support that the price would test in case of a breakdown of the 50-day MA. In any case, the market seems more likely to rebound from these levels and start a new bullish phase. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/XRPUSDT/s30VnCv4-XRP-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Certik Uncovers Security Vulnerability in Worldcoin's Verification Process On May 29, 2023, Certik, a blockchain and smart contract auditing firm, reported a critical security vulnerability within Worldcoin’s verification process. This flaw could have allowed attackers to bypass strict identification measures and operate an Orb, a device used to collect users’ iris information. The revelation comes amidst existing complaints regarding Worldcoin’s data collection practices in Bavaria, France, and Kenya, and from a prominent German political figure.

hello, welcome to this SOL/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Solana (SOL) returned to the green during today’s session, snapping a two-day losing streak in the process. After falling to a bottom of 22.52 on Thursday, SOL/USD climbed to a high of 23.13 earlier in today’s session. Despite today’s rebound in price, Solana is still trading almost 7% lower than at the same point last week. The rally began after the RSI bounced from a support level at the 45.00 mark, rising to a current reading of 49.04. Bulls are likely targeting a move back above the 25.00 level, however, they will first need to move beyond an upcoming wall of 50.00 on the indicator. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/SOLUSDT/v7Fj6Oqb-SOL-USDT-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Hello, welcome to this SHIB/USDT 1DAY chart update by CRYPTO SANDERS. CHART ANALYSIS:-Shiba Inu (SHIB) rose by over 5% on Friday, on the news that Binance was adding the asset to its Flexible and VIP Loan services. SHIB/USD hit an intraday peak of 0.000008677 on the news, a day after trading at a low of 0.000008226. The move resulted in the meme coin hitting its highest point since Monday when it peaked at 0.00000872. One of the catalysts for the surge also seemed to be a breakout of the 60.00 level on the 14-day relative strength index (RSI). the index is tracking at 62.20, which is marginally below a higher ceiling of 63.00 Earlier gains have already eased, with traders likely securing profits in anticipation of a collision with this zone. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/SHIBUSDT/x5dZShR2-SHIB-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

SHIB 5% Higher as Meme Coin Nears Key Resistance Level Shiba inu was one of Friday’s biggest movers, as markets reacted to the news that Binance had approved the meme coin as a collateralized asset. The cryptocurrency exchange confirmed that it was adding 22 new loanable and collateral assets to its Flexible and VIP Loan services. Solana was another notable gainer on Friday.

hello, welcome to this ETH/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Ethereum (ETH) was once again trading below a key support level during today’s session, as the price fell for a third straight day. Following a high of 1,856.41 on Thursday, ETH/USD slipped to a bottom at the 1,828.88 mark earlier in the day. The decline saw ethereum drop below a support point at $1,850, with sellers once again attempting to take the price under $1,800. the RSI has also dipped, and fallen below a floor at the 45.00 level for the first time in over a month. Currently, the index is at a reading of 42.16, with overall sentiment mostly bearish. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ETHUSDT/qCDrgpJ9-ETH-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

hello, welcome to this BTC/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Bitcoin (BTC) consolidated around the 29,000 level on Friday, as traders readied themselves for the upcoming U.S. nonfarm payrolls report. BTC/USD rose to an intraday high of 29,375.71 in today’s session, following an earlier low of 29,066.24. Earlier gains have since faded, however, with the world’s largest cryptocurrency now trading at the 29,145.77 mark. The decline comes as the relative strength index (RSI) fell back toward a support point of 42.00. After hitting a ceiling above 51.00 in recent days, price strength is now tracking at a reading of 43.71. There is still optimism that bulls could reenter the market after today’s report, with the 29,500 level as an initial target. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/BTCUSDT/gqU5Tgoa-BTC-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Australian Regulator Sues Etoro to 'Protect Consumers From High-Risk CFD Products' The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the crypto platform Etoro. The lawsuit relates to Etoro’s contract for difference (CFD) product which ASIC alleges to be in breach “of design and distribution obligations and of Etoro’s license obligations to act efficiently, honestly and fairly.” The regulator said it wants the Federal Court to issue declarations and pecuniary penalties against Etoro.

BTC Consolidates Around $29,000 Ahead of Nonfarm Payrolls Bitcoin is trading near a support point of $29,000, ahead of today’s U.S. nonfarm payrolls (NFP) report. It is expected that 200,000 jobs were added to the economy last month, down from 209,000 in June. Ethereum was marginally lower on Friday.

Bitcoin's Rollercoaster Year: A 29% Gain From August 2022 to 2023 Despite Recent Dips Over the past 30 days, bitcoin has dipped by 5%, yet the leading cryptocurrency has seen a gain of 29.05% from August 3, 2022 to August 3, 2023. Moreover, BTC’s value in 2023 alone has surged more than 75% against the U.S. dollar, standing at $5,800 above the crypto asset’s mean average price of $23,317 per unit during the past 12 months.

BTC/USD WEEKLY UPDATE

Coinbase Looking to Add Lightning Network Support Coinbase, one of the largest U.S.-based cryptocurrency exchanges, is moving to add support for Lightning Network on its trading platform. Brian Armstrong, CEO of Coinbase, confirmed that the exchange was looking into the best ways to achieve this task, reaffirming his support for bitcoin payments.