Blockchain DXB: Crypto & Coffee at 8 ☕ 01st Aug 👀FOMC- Rates Unchanged 💰Tether.io record-breaking $5.2B profit ⚡ Bitcoin Difficulty rose by 10.5% 🟠Terra Blockchain exploit lost $4 million
Blockchain DXB
Shownotes Transcript
01st Aug: Crypto & Coffee at 8
👀FOMC- Rates Unchanged 💰Tether.io) record-breaking $5.2B profit ⚡ Bitcoin Difficulty rose by 10.5% 🟠Terra Blockchain exploit lost $4 million
🏦 Federal Reserve Board) chair Jerome Powell has decided to keep the interest rates the same. We strongly recommend watching his speech via YouTube here https://rb.gy/rc1ehm) Jerome Powell gives his reason for keeping the interest rate unchained. How will this impact the price of Bitcoin & the cryptocurrency market?
He mentioned no plans on implementing CBDC yet and they do not have any authority to launch retail CBDC.
The FOMC team thinks CBDC is not a good idea
Check out the Blockchain DXB) podcast for today we share more information about the FOMC meeting & its impact on the prices
🔴 Tether.io) Holdings Limited's Q2 2024 attestation by BDO highlights a record $5.2 billion profit for the first half of the year and $1.3 billion for Q2 alone. Tether's U.S. Treasury holdings have reached an all-time high of over $97.6 billion, making it 18th globally in U.S. debt ownership. The Group's equity increased to nearly $12 billion, despite a Bitcoin price drop. Tether's reserves exceed liabilities by $5.3 billion, with over $8.3 billion in USDt issued in Q2. CEO Paolo A.) emphasized Tether's commitment to transparency and stability.
❗ The Consolidated Financials Figures and Reserves Report can be found here https://rb.gy/n7o8ra )
🟤 The Bitcoin network has recently experienced its most significant difficulty adjustment since October 2022, with a 10.5% increase driving the metric to a record 90.67 trillion. Bitcoin.com) has reported that On Wednesday, at block height 854,784, Bitcoin’s mining difficulty saw its largest increase of the year and the most substantial since October 2022. The difficulty rose by 10.5%, climbing from 82.05 trillion to 90.67 trillion. This shift signifies a 10% increase in the effort required to find a block compared to the previous two weeks or 2,016 blocks. Info here https://rb.gy/zzmdb5 )
🔥 A Terra blockchain exploit led to the loss of over $4 million in tokens, including around 60 million ASTRO tokens, which caused the price of ASTRO to drop to an all-time low. According to blockchain security firm Beosin, the attack drained bridged assets, including 2.7 BTC, $3.5 million in USDC, and $500,000 in USDT stablecoins. Their tweet here https://rb.gy/bnim1b) The attacker exploited a reentrancy vulnerability in the timeout callback of ibc-hooks. The vulnerability was disclosed in April this year, some info via GitHub) here https://t.co/CY39X28KyE )
👀 The team mentioned via (X), Twitter) that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time Tweet here https://rb.gy/kd83op)
🟠 Two UAE news (See slides)
⚡ Commercial Bank of Dubai) introduces core banking services for virtual asset service providers
⚡ Digital Dubai) approves measures to implement strategic vision for
For slides click here https://t.ly/cL6O5 )
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