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Unusual increases in trading volume were observed in some altcoins on Upbit, South Korea's largest cryptocurrency exchange.
Share link:In this post: Avalanche Foundation has agreed to buy back the 1.97 million AVAX tokens it sold to Luna Foundation Guard in 2022. AVAX saw almost 10% gains after the news broke, signaling positive sentiments in the efforts to maintain its stability. Terraform Labs is planning to shut down eight products and services after bankruptcy approval.
Share link:In this post: Vitalik Buterin has sold several meme coins for over 257 ETH, valued at about $636,000. This move has fueled debates on investor risks and charitable coin use. Critics are complaining that investors are exposed to questionable assets with vague information.
- 17:04CEX Premium Index Turns Positive This Past Week, BTC Demand From US Institutional Investors May RiseOdaily Planet - The CEX Premium Index has turned positive over the past week, according to a post by crypto analyst Ali Martinez, and the trend in the metric suggests that demand for BTC from institutional investors in the U.S. may be on the rise.
- 16:55Powell calls for ‘re-examination’ of de-banking in response to crypto concernsThe Federal Reserve's Jerome Powell has said it's time to ‘revisit’ the issue of de-banking, following criticism that the crypto industry is being excluded from banking services. At a Senate Banking Committee hearing on Tuesday, the committee's chairman, Tim Scott (R-S.C.), asked Powell if he would be willing to work with him to ensure that financial regulations do not ‘impose unnecessary burdens.’ Powell responded, ‘I'm committed to working with you, and we do try to avoid excessive burdens. Frankly, I think it's fair to revisit the issue of de-banking.’ ‘We didn't mean to do that, but sometimes regulation leads to things that happen and we need to improve on that.’ Powell added. Scott also asked Powell if he would be willing to work with lawmakers to end the de-banking issue, to which Powell agreed.
- 16:54Fed Chair Powell: quantitative easing to be used only when rates are at zeroAccording to Gold Ten, Fed Chairman Powell said that liquidity is still sufficient, the balance sheet is still shrinking, and that he will keep an eye on the reserve market. Will try to stop balance sheet reduction when market conditions are a little more than ‘adequate’, can't give an exact number, still a long way to go. Quantitative easing will only be used when interest rates are at zero.