Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 15th Feb 🚨 🔺Inflation is up by 0.5% Bidenflation at 6.4% 🔥Paxos burns $700M Binance BUSD 🔴 Snoop Dogg Donates 22 NFTs 🚨 Two UAE news from Blockchain DXB
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15th Feb: Crypto & Coffee at 8 🎙️ 🔺Inflation is up by 0.5% 🔥Paxos burns $700M Binance BUSD 🔴 Snoop Dogg Donates 22 NFTs

📊 Inflation at 6.4% The US Bureau of Labor Statistics reported The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5% in January! Official info here https://lnkd.in/dZBYUEsx Utility (piped) gas service rose 6.7% CoinDesk article states Bitcoin dipped after US Inflation came in slightly hot. The report suggests the Fed will need to continue tightening monetary. Article here policy.https://tinyurl.com/yc6t39pu

👀 Federal Reserve Board will announce the interest rate hike on the 22nd of March, What kind of an impact will this have on the global crypto market? The schedule for the FOMC meeting can be found here https://lnkd.in/d3JdKRGz This date might coincide with the Ethereum Shangai upgrade!

❓ Will Ethereum be the biggest mover in mid to late March?

😱 Since Monday, Paxos, the issuer of the $16 billion Binance USD (BUSD) stablecoin, has burned more than $700 million of BUSD tokens. Paxos Treasury crypto wallet transferred $703 million worth of BUSD tokens to a burn address within 27 hours starting Monday morning, essentially removing the coins from circulation.

💯 CoinDesk article https://lnkd.in/dZCi8qDx has a screenshot from Nansen & data shows that Paxos has been burning BUSD every few hours since Monday morning. Because of this, The Binance BUSD supply decreased by more than 6% since Monday.

❌ Stablecoin War!

🤨 Is Circle behind the drama between Paxos and Binance? In the fall of 2022, Bloomberg reported that Circle complained to the New York State Department of Financial Services that blockchain data showed that Binance did not have enough reserves to back up the BUSD tokens it had issued through Paxos. Binance reportedly supported $1.7 billion of BUSD using collateral worth only $100 million https://lnkd.in/dsKfV9Ub

💯 Once Central Bank Digital Currency goes mainstream. Which stablecoin issuer will lead the market?

💰 Snoop Dogg has donated 22 NFTs to LA County Museum of Art Official news via his Twitter here https://lnkd.in/dvE4-iMn DailyCoin article states Los Angeles, California-based museum became the first to display an NFT series in a physical art gallery permanently. Article here https://lnkd.in/d6JU6FKC

🚨 Two UAE news (See slides) ⚡China-Backed Blockchain BSN Spartan Finds Partner in Middle East ⚡ Blockchain and Crypto Youth Summit on March 5–6 2023 in Dubai, UAE

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