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Cryptocurrency Market Update Amid U.S. Election Speculation

Stay informed on the latest developments in the cryptocurrency market amidst the speculation surrounding the U.S. election. Explore how the election may impact digital currencies and investment trends.

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Cryptocurrency Market Update

Cryptocurrency Market Update

The cryptocurrency markets experienced a downturn on Wednesday, mirroring a decline in U.S. equity prices and amid speculation surrounding the ongoing presidential election.

Bitcoin (BTC) saw a rapid drop from $65,000 to $63,500 within a two-hour span during mid-morning trading in the U.S., marking a 1.7% decrease over the past 24 hours. Ether (ETH) and Solana’s token (SOL) also faced losses, albeit less severe, each down by over 1%.

In the altcoin space, smaller cryptocurrencies recorded more significant declines, resulting in a 2.8% drop in the Coindesk 20 Index (CD20). Notable decreases included 5%-6% dips for Ripple’s XRP (XRP), Polkadot’s DOT (DOT), Cardano’s ADA, and Polygon’s MATIC.

Simultaneously, U.S. equities struggled to recover from recent substantial losses, with the Nasdaq 100 declining by 1% and the S&P 500 dropping by 0.7%.

Uncertainty surrounding the U.S. presidential election intensified following reports of mounting pressure on President Biden not to seek re-election. The crypto prediction market Polymarket now indicates an 80% probability of Biden not running, up from 40% the previous day. Odds for Vice President Kamala Harris becoming the Democratic nominee surged to 63% from 15% in the same timeframe.

Conversely, GOP nominee Donald Trump’s likelihood of winning slightly decreased on Polymarket to 65%, down from a peak of 70% after surviving an assassination attempt over the weekend.

The recent rally in crypto prices was partly driven by investors anticipating a Trump victory and a potentially more crypto-friendly U.S. administration.

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Libre Expands Tokenized Financial Assets on NEAR Blockchain

Discover how Libre is expanding tokenized financial assets on the NEAR blockchain, revolutionizing asset management and investment opportunities with cutting-edge technology and enhanced security for users.

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Libre, an innovative startup dedicated to the tokenization of financial assets, has partnered with notable institutions such as Nomura’s Laser Digital, Brevan Howard’s WebN group, and the private markets powerhouse Hamilton Lane. This collaboration aims to introduce a range of digitized funds on the NEAR blockchain, thereby facilitating the transfer of tokenized real-world assets (RWAs) across various blockchain platforms.

As announced by Libre on Monday, users of the NEAR protocol will gain access to several significant financial products, including a Hamilton Lane credit fund, the Brevan Howard Master Fund, and the Blackrock ICS Money Market Fund. This announcement comes as the startup proudly reports that it has surpassed the impressive milestone of $100 million in assets under management since going live just four months ago.

The emergence of blockchain-based versions of financial assets has garnered considerable interest among institutional players keen on exploring opportunities within the crypto landscape. The addition of RWA funds to the NEAR blockchain is a pivotal aspect of Libre’s ambitious multichain strategy, harnessing the blockchain’s unique “Chain Signatures” feature. This functionality empowers users to conduct transactions on different ledgers without the complications typically associated with cross-chain bridges.

“Chain Signatures is an innovative tool that enables users to purchase assets on the NEAR blockchain and subsequently transfer and manage them across any other blockchain,” stated Libre CEO Avtar Sehra during a recent interview. This feature exemplifies Libre’s commitment to simplifying the asset management process in the rapidly evolving digital landscape.

Looking towards the end of the year, Libre has exciting plans in the pipeline. The company aims to introduce new features, including collateralized lending options and the secondary transfer of select assets, as revealed by Sehra. “We’re also gearing up to launch a new fund in collaboration with the Laser Digital team. This fund will be market-neutral and designed to operate across all networks simultaneously; it is expected to go live in October this year,” he added.

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Eve Hewson: From Rising Star to Prominent Actress

Explore the journey of Eve Hewson, from her early beginnings as a rising star to her emergence as a prominent actress. Discover her notable roles, personal insights, and the passion that drives her captivating performances.

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Discovering Eve Hewson: From Rising Star to Household Name

Eve Hewson is experiencing a moment of newfound recognition. The talented Irish actress, whose career began back in 2008, started to attract significant attention in 2014 with her captivating portrayal of a reserved young nurse in Steven Soderbergh’s period drama, The Knick. Her performance in this critically acclaimed series set the stage for her subsequent roles, but it was her chilling and emotionally complex turn in Netflix’s mini-series Behind Her Eyes in 2021 that truly had audiences buzzing and stopping her on the streets.

Her rise continued with Bad Sisters, a darkly comedic Irish drama that premiered in 2022 on Apple TV+. This show became a cultural phenomenon in Dublin, her hometown, where watch parties in local pubs turned her into a celebrated figure. In 2023, she garnered even more attention at the Sundance Film Festival, where the film Flora and Son, in which she stars in the title role, sold for a staggering $20 million to Apple TV, breaking records.

Despite her growing acclaim, Hewson, now 33, remains just outside the realm of household name status. This could change in the coming months, as she is set to star alongside Nicole Kidman and Liev Schreiber in the highly anticipated Netflix adaptation of Elin Hilderbrand’s novel The Perfect Couple, which premieres on September 5. Additionally, she will return for the second season of Bad Sisters on November 13, reprising her role as the youngest and most free-spirited sister, Becka Garvey. Recently, she wrapped filming a part in Noah Baumbach’s upcoming movie featuring George Clooney and Adam Sandler, and she is about to embark on a television pilot from Alec Berg, known for Barry, set in the thrilling world of Formula 1 racing.

In The Perfect Couple, Hewson plays a woman of modest means who is marrying into a wealthy family, a role that allows her to explore complex themes of class and ambition.

Hewson’s relationship with fame has always been intricate, particularly given her lineage; she is the daughter of Bono, the iconic frontman of U2 and a prominent global activist. The contrast between her father’s immense public presence and her own journey has made her acutely aware of the nuances of fame, leading her to navigate the industry with both caution and determination.

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WazirX Customers Face Uncertain Future Amid Major Hack and Restructuring

WazirX customers confront a turbulent future following a significant hack and ongoing restructuring. Explore the implications of these events on user security, trust, and the platform’s operations in the evolving cryptocurrency landscape.

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WazirX Customers Face Uncertain Future Following Major Hack

It appears increasingly unlikely that customers of WazirX will receive full compensation in cryptocurrency terms as the exchange navigates its restructuring process, according to legal advisers associated with the hacked Indian cryptocurrency platform. During a recent conference call, which featured WazirX co-founder Nischal Shetty, the advisers provided a sobering outlook on the situation.

According to George Gwee, a director at the restructuring firm Kroll, it is estimated that at least 43% of the funds that customers had deposited with WazirX may not be recoverable. In a more optimistic scenario, customers could potentially see a return of between 55% and 57% of their total funds.

On Tuesday, the Singapore High Court is set to deliberate on WazirX’s appeal for a six-month protection period that would allow the exchange to restructure its liabilities. This request was filed by Zettai Pte, a Singapore-incorporated entity, with its subsidiary Zanmai India managing the operations of the exchange. In light of the fact that the hack resulted in a loss of $234 million, which accounted for approximately 45% of the customer funds, WazirX has previously indicated that it may only be able to restore access to the remaining 55% of customer assets.

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