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In an Oct. 31 post, Tether Holdings Limited shared its assurance opinion for Q3 2023, which reaffirmed the accuracy of Tether’s reserves report. Notable findings included cash and cash equivalent reserves standing at 85.7%, mostly comprised of US T-Bills, in the amount of $72.6 billion between direct and indirect exposure. Weathering a
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After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation. The European Central Bank (ECB) recently hiked interest rates by another half a percentage point following today’s Frankfurt meeting. The ECB’s latest rate hike comes amid financial woes in the US and European banking sectors, with
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On Wednesday, the apex bank its increased its interest rate to between 4.25% and 4.5%, marking the highest level in 15 years. The Federal Reserve has hiked the interest rate to its highest level in 15 years. On Wednesday, the apex bank announced it was increasing rates to
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Even though year-over-year inflation cooled to 8,3% in August from 8.5% in July, core inflation, which is more closely watched because it excludes volatile food and energy prices, rose 0.6% during the month, compared with an 0.3% increase during the month before. Source
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The continuous price fluctuations in the crypto market considerably impact the Circle’s stablecoin, USD Coin (USDC). The recent performance of its whales’ addresses is making a more southern move. USD Coin records a drop of almost a two-year low in its primary wallet addresses. According to data from Glassnode, a crypto
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The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues.Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent sell-off of the second biggest U.S. dollar-backed stablecoin by
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"Recent indicators of spending and production have softened," said a statement by the Federal Open Market Committee (FOMC), a group of 12 Fed officials who set the Fed’s monetary policy. "Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting
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By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Bitcoin continues to fall and reached a key level of support, dropping below $33,000. After the Federal Reserve
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