a16z exec: Stablecoin regulatory clarity needed to avoid ‘FTX-level issue’
Chris Dixon is bullish on stablecoins but says Europe is currently leading the United States in protecting consumers and investors.
Chris Dixon is bullish on stablecoins but says Europe is currently leading the United States in protecting consumers and investors.
A layer-1 blockchain designed for privacy and compliance, Dusk enables native onchain issuance of regulated assets, opening new opportunities with its highly anticipated mainnet launch.
Wirex Pay introduced its modular chain for payments, enhancing security through non-custodial wallets and a private key system.
Taiwan’s Financial Supervisory Commission reportedly plans to start collecting applications from institutions interested in trialing Bitcoin custody services in the first quarter of 2025.
Former Alameda Research CEO Caroline Ellison agreed to settle the case with FTX, which may see her turn over everything she has left.
According to Odaily, JPMorgan CEO Jamie Dimon has expressed support for the Federal Reserve's decision to slow down the pace of rate cuts by 50 basis points. Dimon believes that long-term interest rates may remain at their current level or slightly increase. He also noted significant concerns among the public regarding the United States' fiscal and monetary policies.
According to BlockBeats, on October 8, market sources reported that Ray Dalio, the founder of Bridgewater Associates, does not anticipate significant interest rate cuts in the near future.
According to Odaily, UBS economist Brian Rose stated in a report last Friday that the Consumer Price Index (CPI) for September will be a critical data point. If prices rise faster than expected, coupled with strong labor data, the likelihood of the Federal Reserve holding steady at its November meeting will increase. Based on data from the CME FedWatch tool, following the release of the September employment report, the probability of the Federal Reserve cutting interest rates by 50 basis points next month has dropped from 33% to zero. Traders are now not even fully pricing in a 25 basis point rate cut. Therefore, Thursday's CPI reading has gained significant importance for the Federal Reserve's next move.
According to Odaily, Dutch banks ABN AMRO and Rabobank have participated in the issuance of digital commercial paper. This paper was tokenized on Deutsche Börse's Clearstream D7 DLT platform. The transaction is part of the European Central Bank's distributed ledger technology experiment for wholesale settlement using central bank money. ABN AMRO has expressed a preference for issuing digital bonds on public blockchains, utilizing Ethereum, Stellar, and Polygon.
According to BlockBeats, on October 8, the President of the Federal Reserve Bank of St. Louis, Musalem, expressed his support for the Federal Reserve's decision to cut interest rates by 50 basis points last month. However, he emphasized his preference for further rate cuts to be implemented gradually. Considering the current economic conditions, Musalem believes that the cost of easing too early and too much outweighs the cost of easing too late and too little. Over time, a gradual reduction in policy rates may be appropriate. He also predicted that the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures Price Index (PCE), will converge to 2% over the 'next few quarters.'