Bitcoin, despite criss-crossing the $20,000 mark since 2017, has actually maintained its value when inflation is taken into account. Data shows that $20,000 worth of Bitcoin purchased in 2017 is now worth $24,942. This demonstrates Bitcoin’s ability to function as a store of value, highlighting its potential as an investment asset. The current Bitcoin spot price of $26,050 reflects the relatively stable price action over the past six years. These findings raise questions about the lack of publicity surrounding Bitcoin’s inflation-adjusted performance. As the Federal Reserve addresses economic policy at the Jackson Hole Economic Symposium, investors are closely watching for potential shifts in the BTC price status quo.

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Tether, the stablecoin issuer, maintains a liquidity cushion of $3.3 billion across 15 blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More ecosystems, providing stability and trust to its shareholders. The total assets under Tether amount to $86.1 billion with total liabilities of $82.8 billion, confirming a reserve backing of over 100%. The transparency report contradicts concerns about Tether’s liquidity and asset backing, and highlights the importance of issuance preauthorization for transparency and trust. Other stablecoins under Tether’s umbrella do not have the same liquidity cushion as USDT, making them less resilient during times of crisis.

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FTX, a defunct crypto exchange, has experienced a cybersecurity breach involving its bankruptcy case claims agent, Kroll. Limited non-sensitive customer data from specific claimants has been exposed. The exchange assures that account passwords, systems, and funds are unaffected. FTX is actively overseeing the situation and has initiated communication with affected individuals. Customers are advised to be vigilant against potential fraudulent emails posing as entities involved in bankruptcy proceedings.

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Global payment giant Mastercard is ending its partnership with Binance crypto exchange in Latin America. The decision comes amid increased regulatory scrutiny of the beleaguered exchange. Starting September 22, Mastercard and Binance will wind down their four crypto card programs in Argentina, Brazil, and Colombia. Cardholders will have the opportunity to convert their Binance wallet holdings. The end of the collaboration is likely a response to Binance’s ongoing regulatory issues worldwide.

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A recent survey conducted by the Certified Financial Planner Board revealed that approximately 31% of US investors would be open to following AI-generated financial advice without verifying it with another source. The survey, which polled over 1,100 adults, also found that although only 31% of respondents had received financial planning advice from AI, 80% expressed satisfaction with the experience. Interestingly, generative AI tools were preferred over social media for financial advice across all age groups. However, the CFP Board emphasized the importance of verification by a financial advisor for both AI-generated and social media-derived financial advice. The survey also indicated that only 52% of respondents were interested in receiving AI-created financial advice in the future.

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