Blockchain DXB: Crypto & Coffee at 8 ☕ 19th Sep 🚀🔴 Federal Reserve Boards cuts rate by 50bps 👀BitGo to Launch USDS Stablecoin 🛠️Decrypt on Decentralized Storage❗Animoca Brands considers Public IPO
Blockchain DXB
Shownotes Transcript
19th Sep: Blockchain DXB) Podcast - https://shorturl.at/lTDqm)
🔴 FOMC cuts rate by 50bps 👀BitGo) to Launch USDS Stablecoin 🛠️Decrypt) on Decentralized Storage ❗Animoca Brands) considers Going Public
🏦 Federal Reserve Board) chair Jerome Powell decided to cue the interest rate by 50bps to 4.75 per cent-5 per cent for the first time in four years. We strongly recommend watching his reasoning via YouTube) here https://shorturl.at/6Ikas) After raising the policy rate by 5.25 percentage points since March 2022 in one of the swiftest Fed reactions to combat the worst outbreak of inflation in 40 years, the central bank has held the rate on hold since July 2023 to anchor in high inflation and consistently bring it down toward the two per cent target range.
🚀The price of Bitcoin has pumped to $62K & the volume of stablecoins has seen a sharp increase.
🎙️ Check out the Blockchain DXB) podcast for today we if lower interest rate increases #BTC and #Cryptomarket and how does it impact Traditional finance
🔴 BitGo) will launch a new dollar-backed stablecoin, USDS, in January 2025, offering rewards to institutions that provide liquidity to the network. Unlike other stablecoins, USDS shares returns from its reserves with liquidity providers rather than end users. Backed by short-term Treasury bills, overnight repos, and cash, it aims to create a fairer system compared to stablecoins like USDT and USDC. info here https://shorturl.at/biZsP)
🔴 BitGo) CEO Mike Belshe) announced the plan at the Token2049 event in Singapore
- BitGo plans to list USDS on major exchanges, targeting $10 billion in assets within a year.
❗ Decrypt) Media Articles and Videos to Be Stored on Sui Protocol Walrus, a decentralized storage protocol built on the Sui network, to create a secure, tamper-proof archive. This prevents content loss due to link rot and ensures data can't be deleted by a single entity. Walrus will also help Decrypt monetize content via Web3 integrations and offer more affordable storage options compared to centralized providers. https://shorturl.at/kQt4U)
❗ Yat Siu) told CoinDesk) regarding Animoca Brands “We are midway through the audit which is a critical piece of the IPO puzzle. Details here https://shorturl.at/VQObh) But the final decision on the timeline depends on market conditions, The company’s IPO plans became known earlier this year, with potential locations being Hong Kong or the Middle East, though Hong Kong is favoured as the company is headquartered there. Siu noted that they are "midway through the audit," a critical step in the IPO process. Australia's DFK Collins is conducting the audit, which is one of several confidence-building measures for potential investors.
The SEC has filed its first lawsuits against three individuals and five companies for pig butchering scams. One case involves NanoBit, defrauding 18 investors of nearly $1 million, while the other targets CoinW6, which tricked 11 victims out of $2.2 million by posing as romantic partners. Official filings here https://shorturl.at/r9dmB)
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