Top crypto tweets of the day – August 30th

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  TL;DR Breakdown Chinese tourists are frequently traveling to Hong Kong to buy cryptocurrencies due to strict regulations against such transactions in mainland China. Hong Kong’s lightly regulated crypto stores offer a unique appeal as they allow easy cash purchases of digital assets without revealing the money’s origin or the customer’s identity. Description A rising trend is taking hold in the heart of Hong Kong. Regularly, Zhang, an entrepreneur hailing from Shenzhen’s Futian district, embarks on a 90-minute journey across the border to exchange his money for USDT, a stablecoin pegged to the U.S. dollar. A wave of Mainland Chinese tourists, like Zhang, are partaking in this venture, … Read more A rising trend is taking hold in the heart of Hong Kong. Regularly, Zhang, an entrepreneur hailing from Shenzhen’s Futian district, embarks on a 90-minute journey across the border to exchange his money for USDT, a stablecoin pegged to the U.S. dollar. A wave of Mainland Chinese tourists, like Zhang, are partaking in this venture, highlighting the appeal and thrill of Hong Kong’s flourishing, yet loosely regulated, crypto scene. Mainland…

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• What the US inflation data for July tells us

  TL;DR Breakdown US inflation in July mirrored June’s 0.2% rise. Annual inflation rate increased to 3.2% from the previous 3%. Core inflation remained high, making the Federal Reserve cautious. July’s CPI data may ease pressure on the Fed for rate hikes. Description Every month, financial gurus, policymakers, and average citizens wait with bated breath for the release of US inflation data. July was no exception, and the revelations provide fodder for a deeper analysis. Let’s dive in. A hint of stability amid heightened economic uncertainty The month-on-month increase in United States inflation for July echoed that of … Read more Every month, financial gurus, policymakers, and average citizens wait with bated breath for the release of US inflation data. July was no exception, and the revelations provide fodder for a deeper analysis. Let’s dive in. A hint of stability amid heightened economic uncertainty The month-on-month increase in United States inflation for July echoed that of June, signaling a steadiness that might quell some fears. The consumer price index (CPI) ticked up by 0.2 percentage points, mirroring June’s bump. Delving into…

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• US President reaches agreement to raise the debt ceiling

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• So much happened last week in Asia’s crypto scene

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• U.S. politics clash: Dems push for CBDC reign, GOP fears risks

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