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Showing posts from September, 2023

OpenAI's 'AI iPhone': A Revolutionary Collaboration with Jony Ive's LoveFrom?

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According to a recent piece from the Financial Times on Sept. 28, OpenAI has big plans in the works: they're aiming to create something akin to the iPhone, but focused on artificial intelligence. The article suggests OpenAI has teamed up with LoveFrom, a design firm started by Jony Ive, a British designer well-known for his iconic Apple designs. He parted ways with Apple in 2022. The goal? To brainstorm designs that offer users a "natural and intuitive" AI experience. But here's the thing: it's all still in the air. No finalized plans, no official partnership announcements coming soon, and any resulting product could still be years away. As for what this AI gadget might look like or do? It's all hush-hush. It seems OpenAI and LoveFrom want to capture the iPhone's ease-of-use rather than any particular features. And here's Read more about OpenAI's 'AI iPhone': A Revolutionary Collaboration with Jony Ive's LoveFrom? #Bitcoin, #Blockchain,...

The Unbelievable Rise of X: How Elon Musk Reshaped the Former Twitter

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Linda Yaccarino, the head of X (previously known as Twitter), shared that the company is nearing profitability—something many thought was far-fetched not so long ago. She mentioned, “Twitter, looking at its Operating Cash Flow, is at a tipping point and is set to become profitable by early next year. What's even better? 90% of our top advertisers are back on board, and in just the past three months, around 1,500 have rejoined us.” When Elon Musk took over Twitter, he shook things up big time. He changed the staff dynamics, streamlined how things worked, and made some difficult calls. He even removed the debated censorship protocols, which turned many heads. Under Musk's watch, X got a whole new look. Remember the blue checkmark for verified users? That changed, and a new monetization strategy came in, motivating content maker Read more about The Unbelievable Rise of X: How Elon Musk Reshaped the Former Twitter #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Crypto...

Galaxy Digital to File for Ethereum Spot ETF

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It has been rumored that on September 29th Invesco and Galaxy Digital have submitted an application for an Ethereum spot ETF with the U.S. SEC. Despite this there is a growing trend of asset management companies exploring asset offerings. This information came from Bloomberg ETF expert James Seyffart on X (formerly known as Twitter). However the application was not publicly available in the SECs database at that time. When asked about it Invesco did not confirm the application. Mentioned they cannot comment on ongoing registrations. Cointelegraph is still awaiting a response from Galaxy Digital. In addition to this filing Invesco and Galaxy are part of a list of firms seeking approval for an Ethereum spot ETF. On September 27th the SEC decided to postpone their decision on applications by ARK 21Shares and VanEck until December 25 Read more about Galaxy Digital to File for Ethereum Spot ETF #Altcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETF, #ETH, #Ethereum, #News

Upcoming economic events 30 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsChinese Composite PMI (Sep)---------51.301:303 pointsManufacturing PMI50.249.701:302 pointsNon-Manufacturing PMI (Sep)51.551.0 Read more about Upcoming economic events 30 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Ryan Cohen's Bold Move: GameStop's New CEO and Its Impact on Dogecoin

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Ryan Cohen, a billionaire investor has recently assumed the position of CEO, at GameStop, a known video game retailer based in the United States. This transition could potentially impact the value of Dogecoin as there has been a connection between GameStops stock and the price of Dogecoin. Prior to becoming CEO Cohen served as GameStops Executive Chairman since January 2022. Held the title of its shareholder. This move is considered by experts as an initiative by the companys board to revitalize their brand. In his role Cohen will take on responsibilities as President, CEO and Chairman at GameStop indicating a significant restructuring within the companys leadership. Enough sources indicate that Cohen will not be accepting any salary for these positions. Following the announcement about Cohens appointment GameStops stock Read more about Ryan Cohen's Bold Move: GameStop's New CEO and Its Impact on Dogecoin #Adoption, #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #N...

Ripple Abandons Fortress Trust Acquisition

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Ripple has decided not to move with the acquisition of Fortress Trust even though they had previously announced their intentions to expand their US licenses pool just 20 days ago. Brad Garlinghouse, the CEO of Ripple shared this decision on X (formerly known as Twitter) on September 28. While they have chosen not to go through with an acquisition Ripple plans to maintain its ownership in the parent company of Fortress Trust called Fortress Blockchain Technologies. The initial announcement of the purchase on September 8 surprised people, including those within Ripple itself as reported by Cointelegraph. The plan had included investments in other companies associated with Fortress, such as FortressPay. Shortly after the acquisition news broke Fortress Trust admitted that they had rushed into the deal following a security breach Read more about Ripple Abandons Fortress Trust Acquisition #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #FortressTrust, #Rippl, #Xrp

Coinbase Advocates for Clearer Crypto Regulations

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Coinbase recently visited Washington D.C. putting an emphasis on the importance of having clear and straightforward regulations for cryptocurrencies. This reflects the industrys demand for governance. Coinbase along with prominent figures in the crypto world took their "Stand with Crypto" movement to Washington D.C. aiming to gain support for more transparent regulations in the crypto sector. On September 27 a group led by Coinbases CEO, Brian Armstrong and around 40 other influential leaders from the U.S. Crypto community gathered in the city. Their objective? To convince lawmakers to back a regulatory framework specifically designed for the digital currency industry. Previously committees primarily controlled by Republicans, such as the House Financial Services Committee and House Committee on Agriculture have shown signs Read more about Coinbase Advocates for Clearer Crypto Regulations #Coinbase, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News

Upcoming economic events 29 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious07:402 pointsECB President Lagarde Speaks  ------------------09:002 pointsCore CPI (YoY)  4.8%5.3%09:002 pointsCPI (MoM)  ---------0.5%09:003 pointsCPI (YoY) (Sep)  4.5%5.2%12:303 pointsCore PCE Price Index (YoY) (Aug)3.9%4.2%12:303 pointsCore PCE Price Index (MoM) (Aug)0.2%0.2%12:302 pointsGoods Trade Balance (Aug) -91.20B-91.20B12:302 pointsPCE Price index (YoY) (Aug)3.5%3.3%12:302 pointsPCE price index (MoM) (Aug)0.5%0.2%12:302 pointsPersonal Spending (MoM) (Aug)0.5%0.8%12:302 pointsRetail Inventories Ex Auto (Aug)---------0.2%13:452 pointsChicago PMI (Sep)47.448.714:002 pointsMichigan 1-Year Inflation Expectations (Sep)3.1%3.5%14:002 pointsMichigan 5-Year Inflation Expectations (Sep)2.7%3.0%14:002 pointsMichigan Consumer Expectations Read more about Upcoming economic events 29 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Congress Puts SEC's Gensler in the Hot Seat: Demands Clearer Answers

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Gary Gensler, the head of the SEC, is under close scrutiny by Congress. A US Congressman, without revealing his identity, has clearly voiced concerns about the need for more transparency and responsibility from the SEC. He firmly stated, "You need to provide clear answers to both the public and Congress. We'll make sure you do." This situation shows the increased pressure on the SEC, especially with ongoing changes in financial markets, tech innovations, and evolving regulations. There's a wider discussion about how regulatory bodies should function in today's fast-changing financial world. The urgency in the Congressman's words implies that Congress's patience might be running out. The statement, "We can handle this the easy way or the hard way," offers Gensler two options: to willingly collaborate or face consequences. With Read more about Congress Puts SEC's Gensler in the Hot Seat: Demands Clearer Answers #Bitcoin, #Cryptocurrency, #Crypt...

Uniswap Foundation Seeks On-chain Vote for $62M Funding

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The foundation plans to allocate $15 million every year in community grants to support DeFi initiatives. Uniswap a decentralized exchange (DEX) is currently holding an on chain vote to approve the portion of the $74 million allocated for its developer, the Uniswap Foundation. As announced on September 27 the second portion, which includes a 10% to account for price fluctuations is approximately valued at $62 million. This amount will be determined through an on chain vote scheduled for October 4. If approved these funds will be used for expenses and research grants. The primary responsibilities of the Uniswap Foundation include improving core protocol performance promoting innovation and ensuring alignment with stakeholders vision for the DEX. The development team has clarified their goals for the year; developing a software Read more about Uniswap Foundation Seeks On-chain Vote for $62M Funding #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Uniswap

Keyrock Secures VQF Approval in Switzerland

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Keyrock, a market maker based in Belgium recently announced that they have received approval from the Swiss Financial Services Standards Association (VQF). The VQF is responsible for enforcing money laundering laws in Switzerland. This approval indicates that Keyrock complies with the regulatory requirements set by Swiss local laws. It allows Keyrock to operate as an intermediary in Switzerland providing its services to crypto companies and investors within the country. This endorsement puts Keyrock on par with well known players in the crypto industry like Bitcoin Suisse and BitGo who are also authorized by VQF and considered leaders in the crypto sphere. Switzerland is widely recognized for creating an environment that fosters the growth of the crypto sector. The country has adapted its existing regulatory and financial Read more about Keyrock Secures VQF Approval in Switzerland #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Keyrock, #Regulations, #Swiss

Upcoming economic events 28 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsRetail Sales (MoM) (Aug)  0.5%-0.8%07:002 pointsECB's Enria Speaks  ------------------07:452 pointsECB McCaul Speaks  ------------------08:002 pointsECB Economic Bulletin  ------------------12:302 pointsGDP (QoQ) (Q2) 2.2%2.0%12:302 pointsGDP Price Index (QoQ) (Q2)2.0%4.1%12:302 pointsInitial Jobless Claims217K201K14:002 pointsPending Home Sales (MoM) (Aug)-0.2%0.9%17:002 points7-Year Note Auction---------4.212%20:002 pointsFed Chair Powell Speaks  ------------------20:302 pointsFed's Balance Sheet---------8,024B23:302 pointsTokyo Core CPI (YoY) (Sep)2.6%2.8%23:502 pointsIndustrial Production (MoM) (Aug)  -0.8%-1.8% Read more about Upcoming economic events 28 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Hong Kong Advances Towards Stablecoin Regulation

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Hong Kong is taking further steps to regulate stablecoins. After working on this for the past two years, they've recently entered a second consultation phase. Initially, the Hong Kong Monetary Authority (HKMA) discussed this topic early last year and finalized their recommendations by January 2023, suggesting a flexible and risk-conscious approach. By June, they sought public input on these proposed regulations and committed to establishing a definitive framework by next year's end. Duncan Chiu, a local legislator, shared that the government is actively discussing these regulations and aims to finalize them in 2024. Speaking at the 2023 Shanghai Blockchain International Week, Chiu stated, “We're now in our second round of talks. We're hopeful that by mid-next year, we can disclose Hong Kong's stablecoin regulations, enabling t Read more about Hong Kong Advances Towards Stablecoin Regulation #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonews...

Gensler Holds Ground: SEC's Firm Stance on Cryptocurrency Oversight

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Gary Gensler, the SEC Chair, remains firm in his stance that the majority of cryptocurrencies and their associated companies should be governed by federal securities regulations. A forthcoming hearing named ‘Oversight of the Securities and Exchange Commission’ is scheduled for September 27, 2023, at 10 AM EST, and will be available for live-streaming. Previously, Gensler voiced concerns about the widespread fraudulent activities and other malpractices within the crypto sector. In his most recent testimony to the House Committee on Financial Services, he emphasized these concerns again. In addition to his concerns, Gensler pointed to the SEC's recent actions in his statement. He brought attention to an April release which determined that crypto platforms, DeFi platforms included, fall under the exchange category. However, when i Read more about Gensler Holds Ground: SEC's Firm Stance on Cryptocurrency Oversight #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonew...

Binance Resumes Operations in Belgium After Addressing Regulatory Concerns

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Binance, the leading cryptocurrency exchange on a scale has made a comeback in the Belgian market after facing regulatory challenges in the past. On September 25 Binance announced that it has resumed its operations in Belgium. This news comes after the Belgium Financial Services and Markets Authority issued an order back in June, which required Binance to halt its activities within the country. We are excited to announce that starting today we are again accepting registrations from residents of Belgium on our platform. Additionally various Binance products and services are now accessible to users who have agreed to our updated Terms of Use. Binance faced hurdles in Belgium due to operating its services from outside the European economic area. The authorities in Belgium have prohibited entities and individuals located outside Read more about Binance Resumes Operations in Belgium After Addressing Regulatory Concerns #Belgium, #Binance, #Blockchain, #Cryptocurrency, #Cryptomarket, #Crypto...

Iranian Businesses Embrace Decentralized Crypto to Counteract Sanctions

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To evade sanctions Iranian businesses are exploring measures and embracing the introduction of a decentralized cryptocurrency exchange and a non custodial cryptocurrency wallet. According to TRM Labs, a company specializing in intelligence Nobitex, Irans primary centralized crypto exchange launched two decentralized finance services in August 2023. These services include Nobidex, a cryptocurrency exchange and Locket Wallet, a non custodial crypto wallet. The intention behind these initiatives is to work around the sanctions imposed due to the countrys program. Currently Nobidex only supports the Arbitrum sidechain. Offers trading pairs such as WBTC/USDT, LINK/USDC, ARB/USDT, WETH/USDT and WETH/USDC. However there are plans to expand its support for blockchain networks including Ethereum (ETH) BNB Chain (formerly Binance Smart Chain) Read more about Iranian Businesses Embrace Decentralized Crypto to Counteract Sanctions #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ira...

Upcoming economic events 27 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious03:002 pointsEuropean Central Bank Non-monetary Policy Meeting  ------------------08:002 pointsECB's Enria Speaks  ------------------08:303 pointsCore Durable Goods Orders (MoM) (Aug)0.1%0.5%08:302 pointsDurable Goods Orders (MoM) (Aug)-0.5%-5.2%10:303 pointsCrude Oil Inventories-1.650M-2.135M10:302 pointsCushing Crude Oil Inventories----------2.064M13:002 points5-Year Note Auction---------4.400%21:302 pointsRetail Sales (MoM) (Aug)  0.5%-0.8% Read more about Upcoming economic events 27 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

How MetaMask's Fee Algorithm Change Benefits opBNB Users

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MetaMask had an issue where it was overestimating the gas fees for opBNB, but BNB Chain has shared on social media that this problem has been sorted out. Since many people just pay whatever fee their wallet suggests by default, this could've led to users paying more than needed. For some context, opBNB is a second-layer solution built on Ethereum and was rolled out on September 13 by the same folks behind BNB Chain. They found out that MetaMask had been using an average from all networks to suggest gas fees, which might work well for other networks but wasn't a good fit for opBNB. That's because opBNB's fees can actually be a lot cheaper compared to many other networks. To address this, the BNB Chain team reached out to MetaMask, and the latter was cooperative and updated their fee recommendation algorithm. Now, users can see the Read more about How MetaMask's Fee Algorithm Change Benefits opBNB Users #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonew...

Celsius Network's Creditors Approve $2 Billion Crypto Refund

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Most of the lenders to Celsius Network have given their approval for a plan to reimburse $2 billion worth of Bitcoin and Ethereum. As part of the Celsius bankruptcy proceedings creditors voted in favor of receiving their funds and also obtaining shares in a new company. According to a report released by the bankruptcy agency, Stretto on September 25 than 98% of the creditor groups have accepted the proposed plan. However final confirmation from the US Bankruptcy Court in New Yorks Southern District is still pending with a hearing scheduled for October 2. Based on documents disclosed on August 17 the proposed plan outlines the distribution of $2 billion worth of Bitcoin (valued at $26,345) and Ethereum (valued at $1,592) among Celsius Networks creditors. Additionally it suggests allocating shares in an established entity Read more about Celsius Network's Creditors Approve $2 Billion Crypto Refund #Blockchain, #Celsius, #CelsiusNetwork, #Cryptocurrency, #Cryptomarket, #Cryptonewstoda...

NASA, Lonestar, and Isle of Man Collaborate for Next-Gen Moon Missions

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The Isle of Man in partnership with Lonestar, a tech startup based in Florida is collaborating with NASA to develop a data storage solution on the Moon. This solution will utilize technology to ensure the security and authenticity of the stored data. The plan is to send a payload containing "data cubes" to the Moon in February 2024. Once the data reaches Earth it will be verified and authenticated using blockchain technology. If this project is successful the blockchain technology used will provide proof of human presence on the Moon during NASAs upcoming manned mission called Artemis 3 scheduled for 2025. Before that mission takes place Artemis 2 will be launched in November 2024. This mission will involve orbiting the Moon with four astronauts on board before returning to Earth. It serves as a rehearsal for the anticipated lunar Read more about NASA, Lonestar, and Isle of Man Collaborate for Next-Gen Moon Missions #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoda...

End of Bitcoin Earnings: Satlantis Complies with Minecraft’s Request

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Satlantis, a fan-based Minecraft server that rewarded players with Bitcoin, will soon deactivate its play-to-earn feature. This move comes after a reported demand from Mojang, Minecraft's creator and a Microsoft-owned entity. In a recent Discord announcement, a Satlantis admin revealed this decision. They mentioned that players had the chance to earn and pull out minor Bitcoin quantities through this feature, as highlighted in a guide by Decrypt’s GG. Another statement from the server admin, known as duhneeno, clarified that this functionality will cease by 12 p.m. ET on Monday. They also encouraged users to cash out their satoshis - Bitcoin's smallest unit. Despite this setback, the team aspires to reintroduce this idea in a different game. A Minecraft guide on earning Bitcoin comments, “It's regrettable, but Satlantis will per Read more about End of Bitcoin Earnings: Satlantis Complies with Minecraft’s Request #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Crypt...

From Promise to Disappointment: Buterin's Changing Views on CBDCs

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Vitalik Buterin, co-founder of Ethereum (ETH), recently shared his disappointment about the direction central bank digital currencies (CBDCs) have taken in a conversation with CNBC. He once had higher hopes for CBDCs, envisioning them to be more innovative and transformative. However, he feels that they've essentially become mere extensions of the conventional banking system. Buterin mentioned, “I was hopeful about CBDCs about five years ago. Many aimed to integrate blockchain's transparency, verifiability, and some level of privacy. But as these projects evolved, they seemed to shift from their initial vision. What we now see are systems that aren't much of an improvement over our current payment methods, acting merely as a new interface for the same old banking processes.” Buterin expressed concerns over privacy, believing CBD Read more about From Promise to Disappointment: Buterin's Changing Views on CBDCs #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptonew...

Miss Universe Organization Disavows Ties to 'Miss Universe Coin' and Labels It a Scam

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The Miss Universe Organization has refuted claims of any involvement with a cryptocurrency named "Miss Universe Coin" that was introduced at the recent Philippine Blockchain Week (PBW). Donald Lim, who spearheads the group overseeing PBW, previously asserted that they would roll out the "Miss Universe Coin." Yet, in the aftermath of this announcement, the official Miss Universe body disassociated itself from this coin initiative, branding it deceptive. On September 22, the organization's official Facebook channel emphasized that neither the Miss Universe Organization nor JKN Global Group, the enterprise behind the pageantry, has ties with the cryptocurrency introduced at PBW. The organization has expressed its intention to explore all legal avenues concerning this breach. The official statement highlighted, "Neither a Miss Universe Read more about Miss Universe Organization Disavows Ties to 'Miss Universe Coin' and Labels It a Scam #Blockchain, #Cry...

Former SEC Attorney Calls for DOJ Intervention in Crypto Scams

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John Reed Stark, an attorney with 15 years of experience at the U.S. Securities and Exchange Commission (SEC) strongly advocates for the intervention of the Department of Justice (DOJ) in addressing cryptocurrency scams. According to Stark fraudulent individuals in the world appear to not take the SECs enforcement actions enough. He expressed concern about the lack of DOJ involvement in prosecuting cryptocurrency related frauds especially when compared to the SECs frequent enforcement actions. Stark finds this difference quite puzzling. Furthermore Stark highlighted that some known figures in the cryptocurrency industry have shown a dismissive attitude towards the authority of the SEC. Specifically he mentioned Binance, Coinbase and Tyler Winklevoss from Gemini as companies currently engaged in battles with the SEC. However Stark Read more about Former SEC Attorney Calls for DOJ Intervention in Crypto Scams #Adoption, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News...

Upcoming economic events 25 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious13:002 pointsECB President Lagarde Speaks------------------13:002 pointsECB's Schnabel Speaks  ------------------22:002 pointsFOMC Member Kashkari Speaks  ------------------ Read more about Upcoming economic events 25 September 2023 #ECONOMICEVENTS, #UPCOMINGEVENTS

Upbit Exchange Disrupted by Counterfeit Token Deposit. $3.4 Billion in Transactions Affected

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Upbit, a cryptocurrency exchange in South Korea has encountered a situation where they were tricked into accepting fake tokens causing disruptions to their usual operations. On September 24th Upbit temporarily halted the deposit and withdrawal services for Aptos (APT) tokens after discovering that some of these tokens were counterfeit. It appears that an unidentified party managed to deposit these tokens, which were mistakenly recognized as genuine APT tokens by Upbits systems. Consequently these false tokens with the label "ClaimAPTGift" ended up being distributed to accounts. This incident came to light through an account called "Definalist," which is run by a group of Korean crypto traders. Upbit finds itself in a state of chaos and uncertainty due to this situation. According to Web3 Builders, a news source specializing in Read more about Upbit Exchange Disrupted by Counterfeit Token Deposit. $3.4 Billion in Transactions Affected #Cryptocurrency, #Cryptomarket, ...

Ethereum Network Fees Drop to $1.15 in 2023: What This Means for the Future

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In 2023, Ethereum transaction fees have touched a yearly low, averaging just $1.15, as reported by Santiment. This significant fee reduction is a consistent trend, pointing towards enhanced network usability. Ethereum's affordability is making it a preferred choice for users, which could uplift its market value. Recent data reveals a surge in on-chain Ethereum transactions, hitting a near-record 1,089,893 User Active Wallets (UAW). Santiment analysts suggest such on-chain activity spikes could signal potential price rebounds, reinforcing Ethereum's market cap in upcoming months. While other cryptocurrencies face price fluctuations, Ethereum stays strong above $1,500. Analysts in June foresaw Ethereum's potential to reach a historic $3,000 milestone, driven by its dwindling reserves on exchanges—now at a mere 1 Read more about Ethereum Network Fees Drop to $1.15 in 2023: What This Means for the Future #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETH, #Ethereum, #News

Coinbase Earns Spanish Central Bank Approval, Solidifying Its Position in Europe

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Coinbase has recently gained approval from the bank of Spain to officially operate as a Bitcoin and digital asset exchange while also offering custodial wallet services. This exciting development allows Coinbase to expand its services in Spain and across Europe catering to both institutional clients. In a blog post written on September 22 Nana Murugesan, Vice President of International and Business Development at Coinbase expressed her enthusiasm for this approval considering it a significant milestone. She emphasized that this endorsement enables the platform to serve a range of customers in the region including retail consumers, institutions and developers. Murugesan also highlighted the increasing clarity and guidance provided by countries regarding cryptocurrencies. In the year alone Coinbase has made notable progress in Read more about Coinbase Earns Spanish Central Bank Approval, Solidifying Its Position in Europe #Adoption, #Bitcoin, #Blockchain, #Coinbase, #Cryptocurrency, #Cry...

Whispers Emerge: XRP's Alleged Ties to Gold and Silver Support

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Everyone in the crypto world is buzzing about some new chatter regarding XRP, which is tied to Ripple. There's some fresh gossip suggesting that XRP might be supported by gold in Singapore and silver in the U.S. But while this sounds super interesting, there's still no solid proof or official word on this. A lot of folks in the crypto game take these kinds of whispers seriously. If a crypto like XRP is backed by something real and tangible like gold or silver, it could make it seem more valuable and trustworthy. We all know that things like gold and silver have always been seen as reliable investments. Mixing them with modern digital money could be a game-changer. Related: XRP: Your Ticket to Financial Freedom or a Dead-End Investment? But we've got to keep our heads on straight. Without any solid facts, it's wise to be a bit Read more about Whispers Emerge: XRP's Alleged Ties to Gold and Silver Support #Altcoin, #Bitcoin, #Cryptomarket, #Cryptonewstoday, #News, #Re...

Databricks Secures $500M: Setting the Gold Standard in Generative AI

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Databricks, a major player in enterprise software, just wrapped up a whopping $500 million funding round, aiming big at generative artificial intelligence (AI). After the Series I funding round, Databricks is now valued at an impressive $43 billion, with shares priced at $73.50 each. T. Rowe Price Associates took the lead in this round, with Morgan Stanley’s Counterpoint Global being a significant contributor. Other participants that joined the party include names like Capital One Ventures, NVIDIA, Ontario Teachers’ Pension Plan, and Ghisallo Capital Management. Databricks' CEO, Ali Ghodsi, proudly remarked on how this funding is a testament to the company's growth and success in AI. In addition, the company's teamed up with Nvidia, a leading AI chip producer, to supercharge AI innovation. Quoting Ghodsi, "Together, Databricks Read more about Databricks Secures $500M: Setting the Gold Standard in Generative AI #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptoma...

Brett Harrison, Former FTX US President, Launches Derivatives Trading Startup with NFA Approval

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Brett Harrison, the president of FTX US founded Architect Financial Technologies in January with a focus on serving institutional investors in both cryptocurrency and traditional derivatives. This startup recently received approval from the National Futures Association (NFA) for its Architect Financial Derivatives division to operate as an introducing broker targeting both the crypto derivatives market and traditional markets. Introducing brokers, who're members of the NFA handle orders for futures contracts, commodity options, retail off exchange forex contracts or swaps. They do not directly charge customers for these services. Architects primary offering revolves around its software. During an interview with Bloomberg Markets Harrison highlighted his vision for the company: "Our main goal is to expand in regulated exchange Read more about Brett Harrison, Former FTX US President, Launches Derivatives Trading Startup with NFA Approval #Adoption, #ArchitectFinancial, #Blockcha...

FTX Ramps Up Asset Recovery Efforts Amid Legal Turmoil

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FTX has significantly increased its efforts to recover assets in response to legal investigations. Sam Bankman Fried, the founder of FTX is scheduled to appear in court in October. Under the guidance of John J. Ray, FTXs Chief Executive and Restructuring Officer the company is determined to reclaim billions of lost funds. In a development FTX has filed a lawsuit against Allan Joseph Bankman and Barbara Fried parents of Bankman Fried. The lawsuit alleges that they unlawfully diverted "millions of dollars" by taking advantage of their family ties and influence within the company. This diversion resulted in defrauding stakeholders well as creditors. FTX is also pursuing assets through legal action against former partners based in Hong Kong. FTX Trading Ltd has initiated proceedings seeking the recovery of $153 million from four Read more about FTX Ramps Up Asset Recovery Efforts Amid Legal Turmoil #Adoption, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #FTX, #News, #Regulat...

China's Property Crisis: Beyond Evergrande and the Ripples in Global Economy

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The situation with China's property market is causing a lot of global economic stress. Recent studies show that it's now seen as a major credit threat worldwide. The issues with Evergrande in 2021 were somewhat expected, but what came as a shock was the trouble faced by Country Garden, which was usually seen as a stable player in the real estate scene. A recent poll from Bank of America showed that twice as many people, now 33%, are concerned about China's real estate situation compared to the previous month. When Evergrande, a big real estate company in China, couldn't pay its debt, it wasn't really a surprise since they've been struggling for years. But this year, another real estate giant, Country Garden, has been having problems because there are too many houses and not enough buyers, which was part of what was driving the Read more about China's Property Crisis: Beyond Evergrande and the Ripples in Global Economy #Adoption, #Bitcoin, #Blockchain, #Crypt...

Potential Chinese Capital Flow Could Impact Bitcoin Amid Weakening Yuan

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China recently experienced its capital outflow reaching a staggering $49 billion in August. Experts are currently engaged in a debate regarding the potential positive effects of this on Bitcoin and the wider cryptocurrency market. With the Chinese currency weakening and significant movements of capital it is plausible that Bitcoin will witness investments from China in the coming months. Markus Thielen, a leading figure at Matrixport highlights how investors familiarity with Bitcoin during economic downturns could lead to increased investments in this digital currency. Recent data from Bloomberg reveals that August saw the substantial capital outflow from China since December 2015 which may place additional pressure on the yuan. Thielen points out that the USD/CNY exchange rate is currently at its level in 17 years. He attributes Read more about Potential Chinese Capital Flow Could Impact Bitcoin Amid Weakening Yuan #Adoption, #China, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #...

Hong Kong's Linear Finance Faces Major Security Breach, ℓUSD Token Liquidity Drained

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The defi scene in Hong Kong faced a setback when Linear Finance, a prominent player experienced an unexpected attack. This week the entire defi sector was shaken by the news that malicious entities had discovered and exploited a vulnerability in Linear Finance. As a result there was an outflow of liquidity from their ℓUSD token causing its value to plummet to an unprecedented low. Linear Finance disclosed that the ℓUSD liquidity from PancakeSwap and Ascendex platforms was drained away. The attackers cleverly took advantage of a loophole that enabled them to generate a number of ℓAAVE tokens. They then exchanged these tokens for ℓUSD on the Linear Exchange before cashing out on PancakeSwap and Ascendex. The implications of breaches in decentralized finance are significant. While decentralization offers security it also presents Read more about Hong Kong's Linear Finance Faces Major Security Breach, ℓUSD Token Liquidity Drained #Cryptocurrency, #Cryptomarket,...

Upcoming economic events 22 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsau Jibun Bank Japan Services PMI  ---------54.303:002 pointsBoJ Monetary Policy Statement  ------------------03:002 pointsBoJ Interest Rate Decision-0.10%-0.10%06:302 pointsBoJ Press Conference  ------------------08:002 pointsHCOB Eurozone Manufacturing PMI (Sep)  44.043.508:002 pointsHCOB Eurozone Composite PMI (Sep)  46.546.708:002 pointsHCOB Eurozone Services PMI (Sep)  47.747.911:002 pointsECB's De Guindos Speaks  ------------------13:452 pointsS&P Global US Manufacturing PMI (Sep)  48.047.913:452 pointsS&P Global Composite PMI (Sep)  ---------50.213:453 pointsS&P Global Services PMI (Sep)  50.650.517:002 pointsU.S. Baker Hughes Oil Rig Read more about Upcoming economic events 22 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Microsoft's Potential Plan to Integrate Crypto Wallet Support Across Upcoming Devices

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According to a report, from Axios there are indications that Microsoft upcoming hardware products might have improved features for supporting wallets. This information was revealed from documents made public during the battle between Microsoft and the U.S. Federal Trade Commission regarding their proposed $69 billion acquisition of Activision Blizzard. The documents suggest that Microsoft has plans to introduce a range of hardware devices, including gaming consoles, smartphones, web browsers, PCs and a new cloud system. Of interest in the world is the expectation that these devices will offer enhanced support for crypto wallets. In the web3 realm crypto wallets serve a purpose as physical wallets but without actually storing cryptocurrencies themselves. Instead they hold the keys required to access crypto addresses on various Read more about Microsoft's Potential Plan to Integrate Crypto Wallet Support Across Upcoming Devices #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #...

FDA Greenlights Neuralink's Brain Chip Trials on Paralyzed Humans

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Elon Musk's Neuralink has received FDA approval to start testing its brain chip implants on paralyzed human volunteers. Announced in a company blog post, Neuralink is now looking for participants for a clinical trial aimed at assessing the safety and effectiveness of its technology. Named "The PRIME Study," the experiment has been authorized under an Investigational Device Exemption (IDE) from the FDA as of May 2023. The company's primary aim is to enable people to control computer cursors or keyboards solely through their thoughts. To make this possible, fine threads containing electrodes will be surgically inserted into the brain region responsible for movement. During the study, a robot called the R1 will implant the N1 chip into participants' brains. The volunteers will then use an app to control a computer and offer feedback Read more about FDA Greenlights Neuralink's Brain Chip Trials on Paralyzed Humans #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, ...

IIF Finds Gaps in European Commission's Digital Euro Legislation

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The Institute of International Finance (IIF) an advocacy organization focused on finance based in Washington D.C. And operating in 60 countries has conducted a review of the European Commissions proposed legislation for the digital euro. According to their assessment the proposal is found to have effectiveness. In their evaluation the IIF examined seven areas covered by the legislation and determined that six of them were only partially addressed. For example they found that the cost benefit analysis provided in the proposal was oversimplified and relied heavily on existing research or was altogether lacking. Regarding measures for ensuring stability and facilitating bank intermediation, such as setting holding limits there is a lack of clarity on how these limits would be implemented or enforced. The study also highlights Read more about IIF Finds Gaps in European Commission's Digital Euro Legislation #Blockchain, #CBDC, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #European,...

Venmo to Integrate PayPal's ERC-20 Stablecoin PYUSD

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Venmo, a peer to peer payment app has exciting plans to incorporate PayPals PYUSD stablecoin in the near future. This integration will make it incredibly convenient for Venmos user base to transfer digital assets seamlessly. As per an announcement by PayPal Venmo users will soon be able to purchase PYUSD and send it not to other Venmo users but also to PayPal accounts and compatible third party wallets. PayPal is proud to introduce this integration as the " large scale wallet interoperability without any associated costs" facilitated by a stablecoin. The company emphasizes that transactions between PayPal and Venmo users will be speedy and free showcasing their commitment towards efficient and cost effective digital transactions. PYUSD was initially launched on August 7 in collaboration with crypto services firm Paxos. It serves Read more about Venmo to Integrate PayPal's ERC-20 Stablecoin PYUSD #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #PayPal...

Upcoming economic events 21 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious12:302 pointsCurrent Account (Q2)-221.0B-219.3B12:303 pointsInitial Jobless Claims225K220K12:303 pointsPhiladelphia Fed Manufacturing Index (Sep)-0.712.012:302 pointsPhilly Fed Employment (Sep)-6.014:003 pointsExisting Home Sales (Aug)4.10M4.07M14:002 pointsExisting Home Sales (MoM) (Aug)----------2.2%14:002 pointsECB President Lagarde Speaks  ------------------14:402 pointsECB's Schnabel Speaks  ------------------20:302 pointsFed's Balance Sheet---------8,099B20:302 pointsNational Core CPI (YoY) (Aug)3.0%3.1% Read more about Upcoming economic events 21 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Horizen Labs to Deactivate Privacy Features in Upcoming Blockchain Update

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Horizen Labs has announced an update to enhance the transparency of its layer 0 blockchain network. Set to take place on September 26 the upcoming hard fork will disable the privacy features of the network as part of the ZEN 4.1.0 update, which will be implemented at block #1426200. This decision was initially outlined in the ZenIP 42204 proposal, which Horizen Labs shared on GitHub in April 2023. According to Ben Pittman, a software developer at Horizen Labs this change is driven by the fact that anonymous transactions make up only a small portion of overall activity. The privacy feature has also posed challenges for Horizen when it comes to cryptocurrency exchanges. Pittman emphasized that Horizen aims to create an efficient mainchain that can accommodate different sidechains for various applications. This vision has been Read more about Horizen Labs to Deactivate Privacy Features in Upcoming Blockchain Update #AvaLabs, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Horizen, #Hor...

From Rate Cuts to Rate Hikes: Shifting Expectations for the Fed's Next Move

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People are expecting the Federal Open Market Committee (FOMC) to keep the federal funds rate steady, between 5.25% and 5.50%. This update is expected to come along with new economic forecasts, including the all-important dot plot, which could show plans for another rate hike by year's end. This is a change from just a few weeks ago when most traders were gearing up for possible rate cuts by mid-2024. Expectations have shifted, with less anticipation for rate cuts in the next year. Many now think the Fed might bump up rates again, possibly in November or December, and then keep them high for a while. Everyone's going to be watching the Fed's new economic projections and what Chairman Powell has to say in his press conference for clues about what might happen next. In the world of cryptocurrencies, Bitcoin tried to rally but Read more about From Rate Cuts to Rate Hikes: Shifting Expectations for the Fed's Next Move #Bitcoin, #Blockchain, #Cryptomarket, #Cryptonewstoday, #...

Hong Kong’s Rising Crypto Ambitions: Animoca Brands’ Yat Siu Extends Personal Invitation to Vitalik Buterin

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Yat Siu, the individual behind Animoca Brands has suggested accompanying Ethereum co founder Vitalik Buterin on a tour of Hong Kong to gain a deeper understanding of the regions cryptocurrency regulations. This proposal comes after Buterin expressed doubts about the long term viability of friendly laws in Hong Kong during the 2023 Web3 Transitions Summit in Singapore primarily due to Chinas ban on cryptocurrencies. The CEO of Animoca Brands countered the notion that Hong Kongs relationship with Beijing would undermine its stability. Siu emphasized that Hong Kong operates as a market and plays a crucial role in Chinas strategy concerning emerging technologies like web3. He also highlighted that contrary to belief Hong Kong has been globally recognized as one of the worlds most stable economies. On Johnny Ng, a policymaker from the Read more about Hong Kong’s Rising Crypto Ambitions: Animoca Brands’ Yat Siu Extends Personal Invitation to Vitalik Buterin #Buterin, #Cryptocurren...

Upcoming economic events 20 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:152 pointsPBoC Loan Prime Rate3.45%3.45%07:002 pointsECB's Panetta Speaks  ------------------07:302 pointsECB's Enria Speaks  ------------------09:002 pointsECB's Schnabel Speaks  ------------------09:502 pointsECB's Supervisory Board Member Jochnick Speaks  ------------------12:002 pointsECB McCaul Speaks  ------------------12:302 pointsECB's Elderson Speaks  ------------------14:303 pointsCrude Oil Inventories-2.667M3.954M14:302 pointsCushing Crude Oil Inventories----------2.450M18:002 pointsInterest Rate Projection - 1st Yr (Q3)---------4.6%18:002 pointsInterest Rate Projection - 2nd Yr (Q3)---------3.4%18:002 pointsInterest Rate Projection - 3rd Yr (Q3)---------3.1%18:002 pointsInterest Rate Projection - Current Read more about Upcoming economic events 20 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Federal Reserve vs. Congress: The Battle for Digital Currency Control in the U.S.

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The U.S. House Financial Services Committee is currently taking steps to slow down the development of a currency issued by the U.S. Bank. Chairman Patrick McHenry recently announced that on September 20th the committee will be discussing two bills specifically related to the concept of a dollar. These discussions, referred to as markups will involve lawmakers and regulators fine tuning the details of the bills before they are voted upon on the House floor. One of these bills, known as H.R. 3712 or the Digital Dollar Pilot Prevention Act aims to limit the Federal Reserves authority in initiating trial programs for a currency without obtaining approval, from Congress. This bill was introduced by Representative Alex Mooney back in May. While it is important to note that the Federal Reserve has not made a decision regarding issuing a Read more about Federal Reserve vs. Congress: The Battle for Digital Currency Control in the U.S. #Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptoma...

Between Hope and Reality: Assessing the SEC's In-House Crypto Expertise

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Hester Peirce, a commissioner, at the Securities and Exchange Commission (SEC) who is known for her support of cryptocurrencies is advocating for regulations surrounding assets. Speaking at a conference in Austin, Texas she expressed her disappointment with the SECs progress in establishing a regulatory framework for cryptocurrencies since she joined the commission in 2018. Peirce acknowledged that countries like Switzerland and Singapore appear to be more advanced in terms of regulations but highlighted that their circumstances cannot be directly compared to those of the United States. Peirce mentioned that the SEC has individuals who possess knowledge about cryptocurrencies, which has improved during her tenure. However she honestly admitted, "I have not witnessed changes." The SEC has faced criticism regarding its approach to Read more about Between Hope and Reality: Assessing the SEC's In-House Crypto Expertise #Altcoin, #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryp...

British Columbia Supreme Court Approves Merger Between Hut 8 and USBTC

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The British Columbia Supreme Court has given the final judicial green light for the merger between Canadian Bitcoin mining heavyweight Hut 8 and U.S. Bitcoin Corp (USBTC), set to be finalized by the end of the year. This merger is expected to significantly influence both Bitcoin mining and the field of high-performance computing. Earlier this year, both companies announced plans to merge, subject to approvals from regulatory bodies and shareholders. The judicial approval was granted on September 18, clearing the last major legal hurdle. The emerging entity, provisionally dubbed "New Hut," will be a publicly traded U.S. company that aims to significantly affect both Bitcoin mining and high-performance computing. It plans to operate with a capacity of 825 megawatts across six dedicated Bitcoin mining and data center sites, Read more about British Columbia Supreme Court Approves Merger Between Hut 8 and USBTC #Bitcoin, #BritishColumbia, #Cryptocurrency, #Cryptomarket, #Cryptonew...

Swisstronik Concludes $5 Million Seed Funding

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Swisstronik, a network that prioritizes user privacy and compliance with regulations recently completed its initial funding round of $5 million. At the time they initiated a private sale of their tokens. The company plans to use the acquired funds to expand their team enhance their technology and prepare for the launch of their mainnet in 2024. In addition Swisstronik has commenced a time token sale. This opportunity allows individual and institutional investors to acquire SWTR tokens before the network becomes publicly available. The first transaction in this token sale was made by MAQ Capital Home, a venture capital firm from the UAE represented by Mohammed Abdul Qadir Jihad. They invested $500,000 in SWTR tokens giving them access to participate in the Swisstronik ecosystem. The private token sale will continue until mid 2024. Read more about Swisstronik Concludes $5 Million Seed Funding #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations, #Swisstronik

Upcoming economic events 19 September 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsRBA Meeting Minutes  ------------------09:002 pointsCore CPI (YoY) (Aug)5.3%5.5%09:002 pointsCPI (MoM) (Aug)0.6%-0.1%09:003 pointsCPI (YoY) (Aug)5.3%5.3%12:302 pointsBuilding Permits (MoM) (Aug)  ---------0.1%12:303 pointsBuilding Permits (Aug)  1.440M1.443M12:302 pointsHousing Starts (MoM) (Aug)3.9%12:302 pointsHousing Starts (Aug)1.440M1.452M17:002 points20-Year Bond Auction---------4.499%20:302 pointsAPI Weekly Crude Oil Stock---------1.174M22:452 pointsCurrent Account (YoY) (Q2)----------33.03B22:452 pointsCurrent Account (QoQ) (Q2)-4.80B-5.22B23:502 pointsAdjusted Trade Balance-0.55T-0.56T23:502 pointsExports (YoY) (Aug)-1.7%-0.3%23:502 pointsTrade Balance (Aug)-659.1B-78.7B Read more about Upcoming economic events 19 September 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS