TL;DR Breakdown HashKey Capital, the investment arm of HashKey Group, has recently unveiled its plans to launch a secondary market crypto fund with a strong focus on altcoins.  Unlike many traditional crypto funds that primarily focus on Bitcoin and Ethereum, HashKey Capital’s approach is distinct.  Description HashKey Capital, the investment arm of HashKey Group, a prominent Hong Kong-based crypto financial services firm, has recently unveiled its plans to launch a secondary market crypto fund with a strong focus on altcoins. This announcement comes as the crypto market continues to evolve and diversify, with investors increasingly looking beyond Bitcoin and Ethereum for … Read more HashKey Capital, the investment arm of HashKey Group, a prominent Hong Kong-based crypto financial services firm, has recently unveiled its plans to launch a secondary market crypto fund with a strong focus on altcoins. This announcement comes as the crypto market continues to evolve and diversify, with investors increasingly looking beyond Bitcoin and Ethereum for potential opportunities. According to a report, the newly established fund has already garnered interest from potential clients, including high-net-worth investors and…

TL;DR Breakdown Switzerland’s inflation rate in August remained at 1.6% compared to the previous year, consistent with the previous month. For three consecutive months, Switzerland’s headline inflation has stayed below the Swiss National Bank’s target ceiling of 2%. Description Switzerland’s inflation rate showed signs of stabilization in August, providing policymakers with a last look at domestic economic pressures before their quarterly deliberations on whether to increase borrowing costs. In August, consumer prices increased by 1.6% compared to the previous year, a rate identical to the previous month, as Switzerland’s statistics agency reported. However, this … Read more Switzerland’s inflation rate showed signs of stabilization in August, providing policymakers with a last look at domestic economic pressures before their quarterly deliberations on whether to increase borrowing costs. In August, consumer prices increased by 1.6% compared to the previous year, a rate identical to the previous month, as Switzerland’s statistics agency reported. However, this figure fell short of the expectations that anticipated a decrease in inflation. Switzerland’s headline inflation has been stable below 2%  The underlying inflation rate, which excludes volatile elements…

TL;DR Breakdown RBC analyst Atul Bhatia predicts that the U.S. Federal Reserve will adopt a cautious, incremental approach to the development of a Central Bank Digital Currency (CBDC), focusing on enhancing existing systems rather than a complete overhaul. Bhatia highlights the potential efficiencies a digital dollar could bring, such as streamlined transactions, but also points out significant security, privacy, and governance concerns that could outweigh the benefits. Bhatia’s analysis aligns with a broader global trend of cautious CBDC implementation, suggesting that the U.S. Federal Reserve’s approach could serve as a model for other countries grappling with the complexities of digital currencies. Description Royal Bank of Canada analyst Atul Bhatia recently shed light on the U.S. Federal Reserve’s likely approach to Central Bank Digital Currency (CBDC) development, emphasizing a cautious, incremental strategy over a radical transformation. This perspective comes at a time when the concept of CBDCs is gaining global traction, promising to revolutionize the financial landscape. The … Read more Royal Bank of Canada analyst Atul Bhatia recently shed light on the U.S. Federal Reserve’s likely approach to Central Bank…

TL;DR Breakdown China’s central bank plans to reduce mandatory foreign currency reserves amid a 5% decline in the renminbi against the US dollar in 2023. China policymakers have accelerated the introduction of new measures to bolster the country’s currency and economy, focusing on the property sector. The People’s Bank of China will reduce banks’ foreign exchange reserve requirement from 6% to 4%, effective September 15. Description China’s central bank plans to reduce the mandatory foreign currency reserves held by financial institutions, which reflects their commitment to bolster the weakening renminbi. The currency has declined by over 5% against the US dollar this year, mainly due to concerns surrounding China’s economic recovery, which has been sluggish since they lifted COVID-19 restrictions at … Read more China’s central bank plans to reduce the mandatory foreign currency reserves held by financial institutions, which reflects their commitment to bolster the weakening renminbi. The currency has declined by over 5% against the US dollar this year, mainly due to concerns surrounding China’s economic recovery, which has been sluggish since they lifted COVID-19 restrictions at the…

TL;DR Breakdown Crypto exchange OKX has announced plans to enter the Indian market, aiming to leverage the country’s developer community to expand its wallet services and explore Web3 applications. Despite the lack of clear regulations on cryptocurrencies in India, OKX is optimistic about its growth prospects. The company already has around 200,000 wallet users in India, accounting for about 5% of the country’s Web3 users. Description Crypto exchange OKX is gearing up to make a bold entry into the Indian market, aiming to hire local staff and explore Web3 applications. This move comes despite the prevailing regulatory uncertainties surrounding cryptocurrencies in the country. OKX’s strategy: Tapping into India’s developer community Haider Rafique, the Chief Marketing Officer of OKX, revealed the company’s … Read more Crypto exchange OKX is gearing up to make a bold entry into the Indian market, aiming to hire local staff and explore Web3 applications. This move comes despite the prevailing regulatory uncertainties surrounding cryptocurrencies in the country. OKX’s strategy: Tapping into India’s developer community Haider Rafique, the Chief Marketing Officer of OKX, revealed the company’s intentions…

TL;DR Breakdown The crypto community has come together to support the Maui community as it recovers from the devastating wildfires that broke out on the island in early August 2023. The fires ravaged over 2,500 acres of land, causing significant damage to properties and resulting in personal losses.  By allowing individuals to make decisions for themselves and their families, the People’s Fund of Maui aims to restore a sense of agency and normalcy to the lives of those affected by the wildfires. Description In an inspiring show of solidarity, the crypto community has come together to support the Maui community as it recovers from the devastating wildfires that broke out on the island in early August 2023. Leading the charge are none other than A-list celebrities Oprah Winfrey and Dwayne ‘The Rock’ Johnson, who have championed a relief … Read more In an inspiring show of solidarity, the crypto community has come together to support the Maui community as it recovers from the devastating wildfires that broke out on the island in early August 2023. Leading the charge are none…

TL;DR Breakdown Europe’s core inflation shows a decline, posing challenges for the European Central Bank (ECB). Overall inflation remained steady at 5.3% up to August, but core inflation cooled. Investors show less optimism for another ECB interest rate hike, influencing Euro and bond yields. Description Amid the grandeur of European economies, there’s an evident slide in core inflation, stirring a significant dilemma for the European Central Bank (ECB). Just when you thought the European financial landscape was stabilizing, numbers unveil a slightly different narrative. The balance? Whether to tighten the financial strings further or let the inflationary ghost roam a … Read more Amid the grandeur of European economies, there’s an evident slide in core inflation, stirring a significant dilemma for the European Central Bank (ECB). Just when you thought the European financial landscape was stabilizing, numbers unveil a slightly different narrative. The balance? Whether to tighten the financial strings further or let the inflationary ghost roam a tad longer. Let’s dissect what this means for Europe’s economic future. The Statisticians Speak The EU’s number crunchers have sounded the alarm,…

Description In a desperate attempt to buffer their diminishing margins, five of China’s premier banks recently cut deposit rates. This seemingly coordinated effort appears to be a move towards reviving a beleaguered property sector and an economy on the ropes. But as with any drastic action, it begs the question: will this tactic actually provide the … Read more In a desperate attempt to buffer their diminishing margins, five of China’s premier banks recently cut deposit rates. This seemingly coordinated effort appears to be a move towards reviving a beleaguered property sector and an economy on the ropes. But as with any drastic action, it begs the question: will this tactic actually provide the needed spark or will it further dampen China’s economic prospects? The Nitty Gritty of the Rate Cuts for China China’s banking giants – from the renowned Industrial and Commercial Bank of China to the China Construction Bank Corp and Agricultural Bank of China – made a decisive move. These institutions collectively sliced their deposit rates from five to 25 basis points, as revealed by their respective…

TL;DR Breakdown Bitwise has withdrawn its application for a Bitcoin and Ethereum Market Cap Strategy ETF, a move that contradicts recent bullish statements from the company’s Chief Investment Officer. This is not the first time Bitwise has withdrawn an ETF application, raising questions about the company’s long-term strategy in the rapidly evolving cryptocurrency investment landscape. Description Bitwise Asset Management has decided to withdraw its application for a Bitcoin and Ethereum Market Cap Strategy ETF in a move that has puzzled many in the cryptocurrency community. Initially filed with the U.S. Securities and Exchange Commission (SEC) on August 3rd, the application aimed to create an ETF that would allocate funds into either … Read more Bitwise Asset Management has decided to withdraw its application for a Bitcoin and Ethereum Market Cap Strategy ETF in a move that has puzzled many in the cryptocurrency community. Initially filed with the U.S. Securities and Exchange Commission (SEC) on August 3rd, the application aimed to create an ETF that would allocate funds into either a Bitcoin Futures Contract or an Ethereum Futures Contract based on…

TL;DR Breakdown Binance Labs has launched ColLabs, an exclusive community that acts as a launchpad for Web3 startups, providing them with resources, mentorship, and networking opportunities. Despite legal challenges, the introduction of ColLabs signifies Binance Labs’ commitment to breaking conventional boundaries and catalyzing innovation in the Web3 space. Description In a groundbreaking move, Binance Labs has recently announced the establishment of ColLabs, an invite-only Web3 investment community. This exclusive platform aims to further Binance Labs’ mission of aiding Web3 startups in achieving unparalleled success. With a focus on creating a unique ecosystem for founders, builders, and investors, ColLabs is poised to become a significant … Read more In a groundbreaking move, Binance Labs has recently announced the establishment of ColLabs, an invite-only Web3 investment community. This exclusive platform aims to further Binance Labs’ mission of aiding Web3 startups in achieving unparalleled success. With a focus on creating a unique ecosystem for founders, builders, and investors, ColLabs is poised to become a significant player in the Web3 landscape. Contents hide 1 A launchpad for Web3 startups 2 Unparalleled benefits for community…