CZ Zhao defends Binance.US amidst SEC’s ‘Ceffu’ controversy

Related articles

• There is a little trick to Federal Reserve’s inflation fight

  TL;DR Breakdown Federal Reserve Chair Jay Powell attributes reduced inflation to factors beyond the Fed’s control and rate hikes that have curbed credit demand. Despite the rise in federal funds rate, credit growth in the U.S. still exists, primarily due to credit cards. Description There’s a subtle cunning to the Federal Reserve’s latest endeavors in tackling inflation. Chair Jay Powell, when questioned about the downturn in inflation, offered a comprehensive defense. He noted the subsiding impacts of the pandemic and the Ukraine conflict, falling food and energy prices, and a consumer shift back to services over goods. All these … Read more There’s a subtle cunning to the Federal Reserve’s latest endeavors in tackling inflation. Chair Jay Powell, when questioned about the downturn in inflation, offered a comprehensive defense. He noted the subsiding impacts of the pandemic and the Ukraine conflict, falling food and energy prices, and a consumer shift back to services over goods. All these factors were beyond the Federal Reserve’s influence. However, Powell also alluded to their efforts in managing credit demand through rate hikes. Credit demand…

  Article 2023年7月29日

• Deputy governor of India’s reserve bank raises concerns over stablecoins’ impact on policy sovereignty

  TL;DR Breakdown RBI Deputy Governor expresses concerns over stablecoins, citing potential risks to policy sovereignty and dollarization. Sankar suggests CBDCs as stable solutions for each country, enabling interaction and transactions between different CBDCs. He highlights the need to address inefficiencies in the global payment system, particularly in cross-border remittances, and urges banks to reevaluate their remittance structures. Description Deputy Governor of the Reserve Bank of India (RBI), T Rabi Sankar, has expressed concerns about stablecoins, warning that they pose an existential threat to policy sovereignty. Speaking at an event organized by the Indian Banks’ Association, Sankar emphasized that stablecoins, while beneficial to certain economies, can potentially replace the local currency and transfer profits … Read more Deputy Governor of the Reserve Bank of India (RBI), T Rabi Sankar, has expressed concerns about stablecoins, warning that they pose an existential threat to policy sovereignty. Speaking at an event organized by the Indian Banks’ Association, Sankar emphasized that stablecoins, while beneficial to certain economies, can potentially replace the local currency and transfer profits from the government to private issuers. Implications for policy…

  Article 2023年7月13日

• U.S. Fed’s rate hike cycle over? Morgan Stanley’s Chief Economist weighs in

  TL;DR Breakdown Morgan Stanley’s Chief U.S. Economist, Ellen Zentner, believes the Federal Reserve has concluded its current cycle of interest rate hikes and predicts steady rates until potential cuts in 2024. Zentner’s views add to the ongoing debate on U.S. monetary policy, especially in light of a potential Republican-led government shutdown that could impact the Fed’s decisions. Description Ellen Zentner, Morgan Stanley’s Chief US Economist, recently made headlines by stating her belief that the Federal Reserve has concluded its current cycle of interest rate hikes. In a recent episode of the What Goes Up podcast, Zentner shared her insights on the Fed’s decision to maintain the benchmark federal interest rate. Moreover, she predicts … Read more Ellen Zentner, Morgan Stanley’s Chief US Economist, recently made headlines by stating her belief that the Federal Reserve has concluded its current cycle of interest rate hikes. In a recent episode of the What Goes Up podcast, Zentner shared her insights on the Fed’s decision to maintain the benchmark federal interest rate. Moreover, she predicts that the Fed will keep rates steady until it…

  Article 2023年9月25日

• Russian lawmakers propose game-changing amendments to digital ruble bill

  TL;DR Breakdown Proposed amendments to the regulations governing the digital ruble in Russia focus on areas such as debt, services for non-residents, and the role of the central bank. The amendments aim to modify the Constitution and include significant changes. The current legislation allows enforcement officials to seize any amount of digital rubles. As a result of recent hearings in the Russian parliament, members of parliament have suggested significant amendments to the regulations that regulate the digital ruble initiative in the nation. The activities of the debt, the services provided to non-residents, and the role of the central bank are the critical areas of attention in the proposed modifications, which are intended to modify the Constitution as it was originally written. The Committee on the Financial Market of the State Duma has created a set of proposals to prepare for the second reading of the digital ruble legislation. According to a story published by the state-owned news site Interfax on May 22, these plans purportedly include several substantial alterations. The proposed changes include making it illegal for the Bank of…

  Article 2023年5月25日

• Solana Foundation releases update about its SOL token

  TL;DR Breakdown Solana Foundation has rejected the classification of its token by the SEC. The foundation says it will address concerns about its token. The Solana Foundation has recently stated on Twitter addressing the U.S. Securities and Exchange Commission’s (SEC) classification of its native token, Solana (SOL), as a security. The foundation expressed disagreement with the characterization of SOL and emphasized its commitment to engaging with policymakers to achieve legal clarity in the digital assets space. Solana Foundation rejects SEC’s classification of SOL SOL, Solana’s native and utility token, was publicly launched in March 2020. Token holders stake SOL to validate transactions through Solana’s consensus mechanism. Additionally, the token offers various utility functions such as receiving rewards, paying transaction fees, and enabling users to participate in governance. The SEC, in separate lawsuits filed against Binance and Coinbase on June 5 and June 6 respectively, classified the SOL token as a security. This classification is based on factors including the expectation of profits derived from the efforts of others, as well as how the tokens are being used and marketed. The…

  Article 2023年6月14日