Bitcoin Drops Below $57K as Sell-on-Rise Action Continues Across the Crypto Market: News of September 5, 2024

Coinbase CFO Reveals Kamala Harris’s Campaign Now Accepts Crypto Donations

This initiative comes amid ongoing discussions that suggest a potential shift in the Democratic Party’s stance on cryptocurrencies.

Under President Joe Biden, the Democratic Party has traditionally shown lukewarm support for crypto, contrasting sharply with the Republican approach. However, increased lobbying by the crypto sector may be driving a change. Haas noted Coinbase’s “heightened policy spending,” viewing it as a unique chance to achieve much-needed regulatory clarity in the U.S.

Mastercard launches euro non-custodial #Bitcoin and crypto debit card. 

Global payments leader Mastercard is deepening its support for non-custodial cryptocurrency wallets through a new partnership that allows users to spend crypto while maintaining full control of their funds.

Building on the success of its August crypto debit card pilot with the self-custodial MetaMask wallet, Mastercard has now teamed up with European crypto payments provider Mercuryo. This collaboration aims to bridge the gap between traditional finance and the crypto world.

The initiative introduces a euro-denominated debit card that lets users spend cryptocurrencies like Bitcoin directly from their self-custodial wallets. This card will be accepted at over 100 million merchants within the Mastercard network, offering greater flexibility and accessibility for crypto users.

Arbitrum Stylus mainnet launch opens Web3 for traditional coders

Offchain Labs, the creator of the Arbitrum blockchain, has launched Arbitrum Stylus on mainnet. This new virtual machine is backward-compatible and simplifies Web3 DApp development by supporting WebAssembly (WASM)-compatible languages, enabling developers with various coding skills to build on Arbitrum.

Stylus is expected to drive the creation of powerful Web3 apps with low gas fees. At the Korea Blockchain Week on Sept. 3, Offchain Labs co-founder Ed Felten highlighted how Stylus bridges Ethereum's EVM and traditional programming languages like Rust, C, and C++.

AAVE co-founder appears to be selling tokens

Since May 24, the multi-signature address 0xe7…4F08 marked by Nansen as Aave founder Stani Kulechov has transferred a total of 37,907 AAVE (worth about $4.51 million) to Cumberland and sold them in exchange for ETH or USDC, with an average selling price of $119. The multi-signature address currently holds 242,429 AAVE, worth about $32.4 million. According to @EmberCN https://x.com/EmberCN

Bitcoin Retraces Below $57K as 'Sell-on-Rise' Action Continues

BTC dropped over 2% to $56,700 after failing to hold above $58,000. It has been declining since peaking above $65,000 on Aug. 25, with shallow rebounds reflecting a "sell-on-rise" trend. Other cryptocurrencies like ETH, XRP, and TON also lost Wednesday’s gains, with the broader crypto market up 0.9%, according to the CoinDesk 20 Index.