Crypto News

Curiosity-enhanced: White House expresses confidence in Fed Chair Powell as Fedwatch Tool foresees a 25bps rate hike this week – What could be the potential implications for Bitcoin and the economy? 

The White House has recently shown its support for the current Federal Reserve Chair, Jerome Powell, stating that Joe Biden has “confidence” in Powell’s leadership. However, this comes at a time when the Fed is expected to raise interest rates by 25 basis points, according to the Fedwatch Tool. This development begs many questions about the potential ripple effects of such a decision on the economy, inflation, and cryptocurrencies like Bitcoin. With all eyes on this critical event, the world watches in anticipation of what could happen next.
India’s Reserve Bank is on a mission to solve the privacy issue surrounding CBDCs and is seeking a ‘delete’ provision. This move has sparked curiosity among stakeholders, as the concept of CBDCs gains traction globally. The provision would allow users to delete their transaction history periodically, thus ensuring their financial privacy. This is a step towards building a transparent and secure digital payment ecosystem, and it will be interesting to see how the implementation of this provision unfolds.
Despite the ongoing bear market and decreasing interest in NFTs, there is still a great deal of curiosity and excitement surrounding Web3 at the SXSW conference. This emerging technology has the potential to reshape the way we interact online, and attendees are eager to learn more about its possibilities. Despite the challenges of the current market, many are still bullish on Web3’s long-term potential, and are actively exploring new ways to harness its power. Whether you’re a blockchain enthusiast, a tech investor, or simply someone interested in the future of digital innovation, there’s no denying that Web3 is one of the hottest and most compelling topics at this year’s SXSW.

Recent Updates

Coinbase Requests Clarification from US Securities and Exchange Commission; Asserts Core Staking Services are not Securities

Coinbase, one of the largest cryptocurrency exchanges in the world, has sought clarification from the US Securities and Exchange Commission (SEC) regarding whether its core staking services qualify as securities. The company has expressed curiosity about the regulatory agency’s stance and noted that it does not believe its staking services are subject to securities laws due to their distinct nature. 

Coinbase’s staking services allow investors to earn rewards for holding certain digital assets in their wallets, a process that involves actively participating in the underlying blockchain network. The company has argued that this functionality is more akin to actively participating in a community network rather than simply investing in a security. 

Coinbase’s move comes amid increased regulatory scrutiny over the growing cryptocurrency market. While some crypto assets have been deemed securities and subject to regulatory oversight, the specific classification of staking services is still unclear. 

The SEC has yet to respond to Coinbase’s request for clarification on this issue.