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CryptoCodex


	Good Thursday morning. This is Billy Bambrough, delivering your latest installment of bitcoin and crypto news.

24-hour crypto market snapshot

$46,989

$2.57

$484.13

$26.93

Curve ball ⚾💨


	Cryptocurrency prices are continuing their downward trend this morning despite the jubilant atmosphere that is currently pervading the crypto community. Bitcoin, still up on this time last week, has tracked lower after nudging $50,000 last night, down around 1% on the last 24 hours. Other major coins are more-or-less flat today with the biggest moves among the top ten cryptocurrencies by value made by ethereum rivals cardano, Binance's BNB the meme-based dogecoin. Cardano's ADA and BNB are moving in opposite directions, off and up by about 2% respectively. Dogecoin is currently down almost 4%, moving away from 30 cents per doge. *CNBC's Mad Money* host Jim Cramer on Coinbase and crypto: "I think Coinbase is inexpensive. I think you should have up to 5% of your portfolio in crypto. I am a believer in crypto." Outside of the top ten, terra's bad week is getting worse, with its stablecoin tracking luna token down by around 7% over the last day. Avalanche, one of the month's best-performing tokens and a new darling of decentralized finance (DeFi), is down 15%. Yesterday, some of the world's biggest tech companies promised to spend billions on improving cyber security in the coming years following a number of high-profile crypto-fueled ransomware attacks. Today, watch out for any market-moving sounds emanating from Jackson Hole, the annual gathering of central bankers in Wyoming. All eyes are on Federal Reserve chair Jay Powell for clues on when the Fed might begin winding down pandemic support. Now read this: Chelsea Manning Is Back, And Hacking Again, Only This Time For A Bitcoin-Based Privacy Startup

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Billionaire Simon Nixon bets on bitcoin


	Keep it in the family: As the world's richest increasingly look to bitcoin and crypto, billionaire Simon Nixon's London-based family office Seek Capital is embracing digital assets. Nixon cofounded the Moneysupermarket price-comparison site in 1993 and finalized his exit from the company in 2016. Forward-thinking: The office, which manages around $1 billion of personal assets in the tech sector, wants to increase its "allocation to crypto as we feel it is an important area for the future," Adam Proctor, a managing director for Seek Capital, said in a statement first reported by Bloomberg. Momentum: Almost half the family offices recently surveyed by Wall Street giant Goldman Sachs want to add digital currencies to their stable of investments, the newswire reported. Crypto is seen by the offices as a possible hedge against rising inflation and lower-for-longer interest rates. Now read this: El Salvador Gets Ready for a Risky Bitcoin Experiment

Ungovernable 🤠



	Binance has drawn the eye of regulators around the world NurPhoto via Getty Images


	🌬️ In a further blow to embattled crypto exchange, Binance, the U.K.'s financial watchdog has warned it is "not capable" of supervising it. 🌐 The Financial Conduct Authority (FCA) said Binance, which has no fixed headquarters and offers services all over the world, had "failed to" respond to basic queries. 🗣️ "The FCA considers that the firm’s responses to some questions amounted to a refusal to supply information, and that the firm has failed to respond adequately to the FCA’s information requirements," the FCA said in a statement. 🙈🙉🙊 Binance is whistling a very different tune, however. "The information provided to the FCA is correct and we continue to have good faith discussions with the U.K. regulator," the crypto exchange told the Financial Times. 🚫 In June, the FCA banned Binance from conducting any regulated activity in the U.K. and the exchange has recently come under significant pressure from regulators around the world due to concerns over the use of crypto in money laundering and risks to consumers. Don't miss: Crypto-Savvy U.S. Senator Sees the Future in Wyoming

	Billy Bambrough
	Forbes Contributor

I am a journalist with significant experience covering technology, finance, economics, and business around the world. I write about how bitcoin, crypto and blockchain can change the world.

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Forbes - 🫂 Embracing the ultra-rich

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