According to U.Today, here are the top three news stories over the past day.
"Black Swan" Author Taleb Breaks Down Bitcoin Crash Top Reason
In a recent post, "Black Swan" author and risk analyst Nassim Nicholas Taleb shared his perspective on the factors leading to the recent Bitcoin crash. Taleb pointed to the Japanese economic collapse, which was triggered by an interest rate hike from the Japanese central bank. The Nikkei 225 stock index experienced a sharp decline as a result. Taleb attributes the market downturn to the Bank of Japan's long-standing policies, including maintaining near-zero interest rates for almost 33 years and implementing quantitative easing measures for 23 years. He emphasized that these measures come with a price that must eventually be paid.
SHIB Burns Skyrocket 708% As SHIB Price On Verge Of Big Recovery
Yesterday, Shibburn, a website dedicated to tracking SHIB token burns, reported a significant increase in the burn rate of the meme coin, soaring by more than 708%. Despite the impressive percentage, the actual number of destroyed tokens was relatively small, totaling 2,760,121 SHIB. The majority of this amount, 2,000,000 SHIB, was moved to a dead-end wallet in a single transaction, with the second-largest transfer accounting for 500,000 SHIB. Meanwhile, SHIB's price saw a notable recovery, increasing by 25.88% to $0.00001393 after a prolonged decline. However, it has since lost some of its gains and is currently trading at $0.00001324, down 1.91%, according to CoinMarketCap.
BlackRock Did Not Sell During Crypto Market Crash: Details
The first Monday of August 2024 will be remembered as a "red Monday" due to a significant decline in both the crypto market and the broader financial market. Despite the substantial drop in the prices of many digital assets, including Bitcoin, BlackRock (IBIT) maintained its portfolio investment in the leading digital asset. Bloomberg Senior ETF analyst Eric Balchunas noted that BlackRock's decision not to sell during the market crash highlights their unwavering stance. BlackRock had experienced an 8% loss in the previous week and faced serious financial distress before Monday's market collapse. On Monday, BlackRock's investors recorded another negative move of -14% but remained steadfast with zero flows.
