TL;DR Breakdown The European Union is considering the implementation of a digital euro, with a draft proposal suggesting limits on its use to maintain financial stability. The investigation phase by the European Central Bank (ECB) is nearing completion, determining whether the development of a digital euro will proceed. European Union explores the implementation of a digital euro amidst discussions on financial stability and market impact. In a recent development, the European Union’s executive branch is set to reveal plans for a digital euro that would necessitate the European Central Bank (ECB) to establish constraints on its usage. According to a draft proposal obtained by Bloomberg News, the ECB would be responsible for determining the necessary measures to ensure financial stability. Contents hide 1 European Commission’s Draft Proposal Sheds Light on Digital Euro Limits 2 ECB’s Investigation Phase and the Path Towards Development 3 Global Interest in CBDCs Grows as Privacy Concerns Arise 4 Conclusion European Commission’s Draft Proposal Sheds Light on Digital Euro Limits The draft proposal emphasizes the importance of maintaining the stability of the financial system, the availability…

TL;DR Breakdown The Federal Reserve maintains its interest rates, but Bitcoin experiences a significant decline to $25,000, indicating turbulence in the cryptocurrency market. The drop in Bitcoin’s and altcoin values highlights the interdependence of digital assets within the cryptocurrency market. The Federal Reserve’s decision does not significantly impact the cryptocurrency market, as it operates independently and is influenced by different factors. The U.S. Federal Reserve has maintained its benchmark fed funds rate range of 5.0-5.25%. This pause comes as the central bank seeks time to assess the consequences of its previous monetary tightening actions on the overall economy. Following Fed’s decision, Bitcoin declined and currently trades at around $25,000 at the time of writing. The Fed embarked on a mission to rein in inflation, which had surged above 8% annually. Beginning in March 2022, it gradually tightened monetary policy, resulting in a series of ten consecutive rate hikes that pushed the Fed funds rate from 0-0.25% to the current range. Over the past year, inflation has gradually decelerated, as evidenced by the May Consumer Price Index (CPI) report showing a…

TL;DR Breakdown Rep. Mike Flood questions Prometheum CEO, Aaron Kaplan, on evolving clarity over digital asset securities in a recent hearing. Flood presses Kaplan on Prometheum’s inability to support Ether and Bitcoin trading. Kaplan cites recent SEC actions and statements that provide clarity, arguing against the need for new legislation. Navigating the complex world of digital assets and the emerging regulatory landscape, a U.S. House Committee hearing on June 14 had Representative Mike Flood of Nebraska hold a riveting discourse with crypto marketplace Prometheum’s CEO, Aaron Kaplan. The crux of the dialogue circled around defining the landscape of digital asset securities and their regulatory frameworks. The pendulum of clarity At the center of the dialogue was the exchange between Flood and Kaplan regarding the evolving clarity over the definition of digital asset securities. The correspondence between Prometheum and the Securities and Exchange Commission (SEC), back in December 2020, revealed Prometheum’s concerns over the lack of regulatory clarity. The company worried that the ambiguity could potentially disrupt the registration process for broker-dealers who need to distinguish between digital assets and digital…

TL;DR Breakdown Banq, the payments subsidiary of Prime Trust, has filed for bankruptcy, listing $17.72 million in assets and $5.4 million of liabilities. Banq alleges an unauthorized transfer of $17.5 million to Fortress NFT Group, leading to financial instability. The bankruptcy filing arrives just days after BitGo’s intent to acquire Prime Trust, raising questions about the deal’s future. Just as the acquisition of Prime Trust, the parent company of Banq, seemed to be proceeding with digital asset custodian BitGo, disaster struck. Banq, Prime Trust’s payments arm, has filed for bankruptcy protection. This startling development took place on June 13, as verified by court documents, and it adds a dark cloud to the recently announced deal between Prime Trust and BitGo. The precarious state of Banq’s finances Banq, whose operations revolve around payment processing for cryptocurrency businesses, presented a balance sheet bearing $17.72 million in assets and $5.4 million in liabilities during its bankruptcy filing. The financial debacle traces back to a supposed “unauthorized transfer” of $17.5 million to Fortress NFT Group. The fiasco was further complicated by the alleged illicit…

TL;DR Breakdown . CAKE price descended 3.5 percent over the past 24 hours . Bearish control seen as price trends horizontally . Support moved down to $1 mark PancakeSwap price analysis continues to show a bearish trend in place, as price struggles to beat the previous support zone at $1.5, which is now the resistance. CAKE has been trading horizontally for most of this week, with price dropping another 3.5 percent over the past 24 hours to move as low as $1.342. As bearish control looms large, CAKE trading volume has recently been on the up consisting majorly of seller action. PancakeSwap is the 94th ranked cryptocurrency in the crypto market with a market capitalisation of $1,014,955,687. The larger cryptocurrency market continued to retain a bearish outlook, with Bitcoin declining further towards the $25,000 mark with a 3 percent decline, and Ethereum dropping 5 percent to $1,600. Among leading Altcoins, Ripple suffered a massive 8 percent loss to move down to $0.47, while Dogecoin lost 2 percent in moving as low as $0.06. Cardano receded by 4 percent to $0.26,…

Contents hide 1 VeChain Price Prediction 2023-2032 2 How much is VeChain worth? 3 VeChain price analysis 3.1 VeChain price analysis: VET returns to $0.01500 3.2 Technical analyses for VET/USDT 3.3 What to expect from VeChain price analysis? 4 VeChain Price Predictions 2023-2032 4.1 VeChain Price Prediction 2023 4.2 VeChain Price Prediction 2024 4.3 VET Price Forecast for 2025 4.4 VeChain Price Prediction 2026 4.5 VeChain Price Prediction 2027 4.6 VeChain Price Prediction 2028 4.7 VeChain Price Prediction 2029 4.8 VeChain Price Forecast 2030 4.9 VeChain (VET) Price Prediction 2031 4.10 VeChain Price Prediction 2032 5 VeChain Overview 6 VeChain Price History 7 Recent News on Vechain 8 More About the VeChain Network 9 What is VeChain? 9.1 Food and Beverage Businesses 9.2 Startups 9.3 Digital Vehicle Management 9.4 Luxury Product Manufacturers 9.5 VeChain Fundamental Analysis 10 Conclusion VeChain Price Prediction 2023-2032 VeChain Price Prediction 2023 – up to $0.022 VeChain Price Prediction 2026 – up to $0.072 VeChain Price Prediction 2029 – up to $0.23 VeChain Price Prediction 2032 – up to $0.69 Since its launch, Vechain’s focus has…

TL;DR Breakdown Amazon Web Services (AWS) is considering incorporating AMD’s new AI chips. This move reflects AWS’s preference for flexibility and customization in AI applications. AMD’s strategy of offering a broad array of components aligns with Amazon’s vision. The potential adoption of AMD’s AI chips could indicate a shift in the tech industry, encouraging diversification of AI hardware. Amazon Web Services (AWS), a giant in the global cloud computing sector, is considering a significant move in its artificial intelligence (AI) strategy. The Seattle-based company is evaluating the potential of new AI chips developed by Advanced Micro Devices (AMD), as it seeks to maintain its leadership in the competitive cloud industry. Amazon’s customization advantage Strategic maneuvering in the tech landscape points to Amazon’s desire for versatility and customization in its AI applications. The company’s key executives have signaled a preference for a more flexible approach, offering a customized solution for its diverse client base. “The ability to adapt to what our clients need in their data centers is critical for us,” explained AWS’s Dave Brown, vice president of Elastic Compute Cloud….

TL;DR Breakdown Dilma Rousseff, president of the BRICS bank, calls for a new financial structure catering to the Global South. The proposed structure aims to channel liquidity effectively and promote long-term investments in local currencies. Rousseff emphasized the strategic importance of multilateralism in the emerging multipolar world order. The BRICS bank has expanded its influence beyond the original bloc, incorporating Bangladesh, Egypt, UAE, and possibly Argentina and Honduras. Reform of the global financial structure has become a rallying cry for the New Development Bank (NDB), more commonly known as the BRICS bank. Dilma Rousseff, the bank’s president and former leader of Brazil, has passionately advocated for a financial framework that specifically addresses the unique needs of the Global South. A system tailored for the global south Drawing upon her international experience, Rousseff addressed a captive audience at the 14th Lujiazui Forum in Shanghai. She outlined her vision for the future: a financial structure better equipped to meet the challenges faced by nations outside the traditional spheres of power. The Global South, a term popularized by American writer Carl Oglesby to…

TL;DR Breakdown Binance asks that its Cyprus branch be deregistered to concentrate on its broader European operations.  Currently Binance.US and SEC are involved in a regulatory war – the largest since Ripple vs SEC. The biggest crypto exchange, Binance, requests that its Cyprus branch be deregistered to concentrate on its broader European operations. This action was taken as regulatory scrutiny increased, and the U.S. Securities and Exchange Commission (SEC) recently launched a lawsuit. Changpeng Zhao, the CEO of Binance, has refuted claims of market manipulation and selling Bitcoin to boost the value of BNB. A federal judge urges the SEC and Binance to come to a compromise, highlighting the continued legal difficulties the cryptocurrency industry is now facing. Binance shifts focus on ensuring MiCA compliance The securities regulator website revealed on June 14 that Binance’s Cyprus division had submitted a request to be deregistered from Cyprus’ list of crypto asset service providers. The crypto exchange said this would free up its attention to concentrate on its larger European companies. According to a report from Reuters, the exchange announced in October…

TL;DR Breakdown A treasury official has proposed that CBDC should be developed with an element of privacy. Evaluating the implications of a private digital currency. The design of a potential digital dollar should take into account privacy and the ability to transact anonymously, according to a United States Treasury official. Graham Steele, the Assistant Secretary for Financial Institutions at the Treasury Department, emphasized this point during a recent conference focused on payments in Texas. He addressed the Federal Reserve’s FedNow system and central bank digital currencies (CBDCs), highlighting the challenges of minimizing illegal transactions while safeguarding user privacy. The treasury official discusses the importance of anonymity in CBDCs Steele emphasized the importance of preserving privacy and anonymity in the design of any potential retail CBDC. He suggested exploring technologies and methods, including Privacy Enhancing Technologies, that can enable such protections. Recognizing the potential benefits and risks of a CBDC, the treasury official mentioned that it could foster a competitive payment environment. However, he also cautioned that a retail CBDC, directly backed by the Fed, could serve as a safer option…