Amar Kuchiad Resigns as CEO of Copper

US Senator Tillis warns that the Clarity Act will fail and demands that the White House compromise on ethical terms. （Bitcoin Archive）

Bitcoin fell below $78000 on Tuesday, hitting a low of $77603 before rebounding to around $78600; As of 11:20 Eastern Time on Tuesday (0:20 UTC+8 on Wednesday), the market value of Bitcoin is approximately $1.58 trillion. The past round of price fluctuations has led to the liquidation of $79 million in Bitcoin positions, with long positions accounting for approximately 90%. The total amount of cryptocurrency clearing on the entire network reached 264 million US dollars, including 187 million US dollars for multiple orders and 77 million US dollars for short orders. The US Bureau of Labor Statistics will release the Producer Price Index (PPI) and Consumer Price Index (CPI) for August on Thursday and Friday, respectively. (Source: US Bureau of Labor)

Anthony Pompliano stated that funds are flowing from stablecoins to Bitcoin and have not affected the stock market. He also pointed out that the 25% increase in BTC has driven subsequent increases in the past 7 times. （Bitcoin Archive）

Amar Kuchiad resigned after serving as the CEO of Copper for two years. (Source: CoinDesk)

[Visa and Brale Test SBC Settlement on Canton Network] Visa and Brale are collaborating to test an SBC stablecoin-based settlement solution on the Canton Network and conducting a proof of concept to evaluate the feasibility of SBC as a settlement option for the Visa payment network.