Crypto Daily News from ZBG Exchange

1. Market Wrap: Bitcoin in Tight $35K-$36K Range; Ether Volumes Still Beating BTC

Ether’s dominance is at 19.78%, the highest it has been since May 16.

Investors are parking bitcoin in places like decentralized finance (DeFi) while excitement in trading ether continues to be elevated.

2. Federal Officials Recover Bitcoin Ransom From Colonial Pipeline Attack

Colonial paid $4.4 million in bitcoin after its systems fell victim to a ransomware attack last month.

Federal officials have recovered $2.3 million in bitcoin (BTC, -6.75%) that Colonial Pipeline paid to a criminal outfit during a ransomware attack, the Department of Justice announced Monday.

3. El Salvador Commerce Secretary: Bitcoin Won’t Replace Dollar

Miguel Kattán, a member of President Nayib Bukele’s cabinet, sought to reassure Salvadorans fearful of a full pivot to a bitcoin standard.

El Salvador’s proposed embrace of bitcoin would not end dollarization in the Central American economy, top government officials said, addressing concerns raised by citizens confused about the plan.

4. Investors See Possible El Salvador Bitcoin Embrace as Too Little to Move Market

El Salvador’s announcement was largely ignored by markets, possibly due to the country’s small size, analysts say.

A push by El Salvador’s president to embrace bitcoin as the country’s legal tender is not seen as having much of an impact on the $663 billion bitcoin market, even if it does inspire other countries to do the same.

5. Deutsche Bank Issues Stark US Inflation Warning, Seeing Economic Parallels to 1940s, 1970s

Inflation could send the global economy into recession as central banks lose control, according to Deutsche Bank.

Deutsche Bank, Germany’s largest lender, says the U.S. might be headed for one of its worst inflationary periods in history, arguing that elevated government spending and loose monetary policy could combine to create conditions similar to prior episodes in the 1940s and 1970s.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

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ZBG, World’s top 10 crypto currency exchange.

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ZBG Team

June 8, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens