Top crypto tweets of the day – May 22nd

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• South Korea bolsters crypto oversight with LEI integration & a crime unit

  TL;DR Breakdown South Korea has launched an inter-agency investigation unit to combat the surge of crypto crimes, including hacking, scams, and money laundering in the country. The interagency probe team brings together experts from different government departments to respond to emerging crypto threats and protect investors swiftly. Korea Securities Depository and Code, a travel rules company, signed a business agreement in Seoul to promote LEI (Legal Entity Identifier) use in the virtual asset market. Description South Korea has taken decisive action by forming an interagency investigation team to address the growing concerns over cryptocurrency crimes. The crypto market has grown increasingly popular and drawn a wide range of investors, but it has also become a haven for illegal activity.  This action represents a significant step towards enhancing national crypto regulation. … Read more South Korea has taken decisive action by forming an interagency investigation team to address the growing concerns over cryptocurrency crimes. The crypto market has grown increasingly popular and drawn a wide range of investors, but it has also become a haven for illegal activity.  This action represents…

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• BRICS creator calls the idea of creating a common currency ‘absurd’

  TL;DR Breakdown Jim O’Neill has dismissed the idea of the emerging nations within the group establishing their currency, calling it “absurd”. O’Neill expressed his skepticism about the practicality of creating a unified currency for the five nations with vastly different economies. Description Jim O’Neill, who created the BRICS acronym as an economist at Goldman Sachs, has dismissed the idea of the emerging nations within the group establishing their currency. As Brazil, Russia, India, China, and South Africa contemplate expanding the bloc, he labeled the concept of an independent currency as “absurd.”  Looking back over the eight years … Read more Jim O’Neill, who created the BRICS acronym as an economist at Goldman Sachs, has dismissed the idea of the emerging nations within the group establishing their currency. As Brazil, Russia, India, China, and South Africa contemplate expanding the bloc, he labeled the concept of an independent currency as “absurd.”  Looking back over the eight years since he coined the term in a 2001 research note as the bank’s chief economist, O’Neill expressed his view that the BRICS coalition has yet…

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• Economists split over Bank of England’s next step

  TL;DR Breakdown Market experts are divided over the Bank of England’s next interest rate move. Some expect a 25 basis point hike to 5.25%, while others predict a 50 basis point increase. UK inflation is cooling but still above the 2% target set by the Bank of England. Description The UK’s financial landscape is standing at a crossroads, with experts sharply divided over the Bank of England’s imminent decision. Will it be a moderate 25 basis point hike or an assertive 50 basis point increase in interest rates? As the nation’s monetary policymakers gather to decide the course, the markets are a battlefield of … Read more The UK’s financial landscape is standing at a crossroads, with experts sharply divided over the Bank of England’s imminent decision. Will it be a moderate 25 basis point hike or an assertive 50 basis point increase in interest rates? As the nation’s monetary policymakers gather to decide the course, the markets are a battlefield of opinions, expectations, and sheer uncertainty. The stakes are high, and the analysts are split, as inflation keeps rearing…

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• IMF waits in vain for concrete BRICS currency proposal

  TL;DR Breakdown IMF awaits a solid proposal on the rumored BRICS nations’ common currency. Currency composition shifts are slow, as evidenced by the reduction of USD in global reserves from 70% to 58%. New Development Bank’s VP asserts the development of an alternative to USD dominance is a long-term goal. A common BRICS currency faces hurdles due to the need for wide-ranging consent and collaboration. Description Amid rumors and rising anticipations about a novel common currency from the BRICS nations, the International Monetary Fund (IMF) bides its time, waiting for a tangible proposal. While this idea has stirred curiosity and concern across financial sectors globally, the IMF has yet to receive any detailed proposition from the BRICS (Brazil, Russia, India, China, … Read more Amid rumors and rising anticipations about a novel common currency from the BRICS nations, the International Monetary Fund (IMF) bides its time, waiting for a tangible proposal. While this idea has stirred curiosity and concern across financial sectors globally, the IMF has yet to receive any detailed proposition from the BRICS (Brazil, Russia, India, China, South…

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• Top crypto tweets of the day – June 2nd

  Contents hide 1 120,000 ETH block calls were traded in a single day 2 Bitcoin re-org 3 Tether USD₮ Reaches All-Time High 4 Singapore’s MAS issues a new notice requiring crypto firms to conduct stricter customer due diligence 5 Circle plans to start issuing native USDC on Arbitrum 6 Marathon mined a record 1,245 bitcoins in May 7 Video recording an immersion-cooled bitcoin mining facility in Norcross 8 Bitcoin on the rise 9 Coinbase Derivatives Exchange to launch BTC and ETH futures contracts for institutions 10 OKX Wallet released the BRC-30 proposal, an enhanced version of the BRC-20 protocol 11 Binance has completed the integration of Tether (USDT) on the Arbitrum One and Optimism networks 120,000 ETH block calls were traded in a single day A whopping 120,000 ETH block calls were traded today, accounting for 53% of total volume and a notional value of $220 million. Giant whales by way of calendar spreads 1) shorting the price 2) shorting the volatility. If ETH fails to break above $2300 at the end of this year… — Wu Blockchain (@WuBlockchain) June…

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