What is Digital yuan?
Digital yuan is a form of central bank digital currency, which is issued by the People’s Bank of China (PBOC). China’s digital currency is a means for China to digitize its banknotes and coins for cashless payments. Thus, it is a digitized version of the physical yuan.
it also is designed to move instantaneously in both domestic and international transactions. It aims to be cheaper and faster than existing finances.
Digital yuan transactions beat Visa in 2022
On the day of the opening ceremony of the Beijing 2022 Winter Olympics, a person familiar with the matter reported that there were more transactions made in China’s CBDC than through Visa
The Winter Games have an exclusivity contract with Visa that prohibits the use of alternative payment methods popular in China like Alipay, WeChat Pay, and others. This time, however, Visa didn’t push back against CBDC, possibly because of the company’s waiting for the approval of a domestic license application to operate in China.
Is Crypto Coin causing too much noise in 2022
As of now, there are no reports of athletes claiming to have used the digital yuan for payment. Even more to that, the first international test run of China’s CBDC is still facing hurdles.
Maybe we’re told to believe what’s not there. But it’s just food for thought.
Fed Rate Hike, The Fed’s last rate hike will come in January, Morgan Stanley strategist says
Fed Rate Hike, The Fed’s last rate hike will come in January, Morgan Stanley strategist says. fed rate hike december 2022
Fed Rate Hike, The Fed’s last rate hike will come in January, but stocks will still be under pressure from dismal earnings in 2023, a Morgan Stanley strategist says
- The Fed could stop hiking rates as soon as January of next year, according to Morgan Stanley’s Andrew Sheets.
- Sheets pointed to evidence of falling inflation, though he noted central bankers would likely keep monitoring the economy after pausing rate hikes.
- But while investors are hoping a pause could spark a new rally, he warned that stocks will still be under pressure next year on poor earnings.
“We are in the camp that the Fed will be early to pause. We think the last Fed rate hike is in January,” Sheets said in an interview on Bloomberg TV on Wednesday.
Fed officials have warned the central bank needs to make more progress on inflation, which remains well above the Fed’s 2% target, before letting up on rate hikes.
But inflation is showing clear signs of coming down, potentially causing the Fed to pause its monetary tightening regime earlier than expected, Sheets said. Prices clocked in at 7.7% in October, down from the 41-year-high of 9.1% in June.
Comparing the Speed of U.S Interest Rate Hikes (1988 – 2022)
Fed Rate Hike, last rate hike will come in January, Morgan Stanley strategist says
After its last rate hike in January, the Fed will likely hold its policy rate and continue monitoring the economy to see the full effect of its tightening so far, he predicted, adding that there is still a lot of uncertainty on inflation’s trajectory next year.
But central bankers risk undoing the tightening they’ve done so far by pausing rate hikes, Sheets pointed out.
“Can the Fed really pause without reversing the progress that it’s made in tightening financial conditions? Almost by definition, once it stops hiking, it’s easing. And does that work against everything the Fed is trying to achieve?” he said. “How does its message that I think is a really big debate.”
Stocks are still likely to face downward pressure with dismal earnings into 2023, Sheets said. He pointed to estimates from Morgan Stanley’s top stock strategist Mike Wilson, who warned that earnings were 20% too high at current levels, which could cause stocks to plunge to a new bottom early next year. FED RATE
Uganda Gold Deposits and How Bitcoin is Related to Them
Uganda Gold Deposits. Uganda has announced the discovery of 31 million metric tonnes of gold deposits in the country. uganda gold discovery. Uganda Gold.
Uganda Gold Deposits
Uganda has announced the discovery of 31 million metric tonnes of gold deposits in the country. A spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, said that these reports are aimed at attracting gold miners and investors.
uganda gold discovery
After several surveys, Uganda has finally announced that it had discovered tons of gold waiting to be mined in the country. These gold deposits are valued at approximately $12 trillion in a single country.
Check out how big it is: at the moment, ALL THE GOLD IN THE WORLD is valued at $8-$10 trillion
What if one day gold is found in some other secluded corner of the planet? Theoretically, the supply of this precious metal can be unlimited. And Uganda can potentially start reckless and quick mining of its own gold, which will easily lead to a gold market collapse.
Gold is the most reliable asset for investment, they said
Investors like to compare bitcoin with gold, and news like this confirms the advantage of the former asset. Satoshi didn’t come up with BTC’s deflationary mechanism for nothing.
Bitcoin is not digital gold, what kind of inferiority complex is this BTC is a unique one-of-a-kind asset that has already made and will still make hundreds of people millionaires
Uganda Gold Deposits and Discovery Image
Optimism was stolen from Optimism, What You Should Know About Optimism
Optimism was stolen from Optimism. If the funds got stolen from a crypto company, they could easily be stolen from you. Optimism addresses the practical needs of developers and users. It works great now, and it’s only getting better. Optimism airdrop.
What is Optimism?
Optimism is a Layer 2 Optimistic Rollup network designed to utilize the strong security guarantees of Ethereum while reducing its cost and latency.
is a low-cost and lightning-fast Ethereum L2 blockchain.
That’s what a blockchain needs to survive. Very few of them check all these boxes. Ethereum is one of them.
A strong foundation determines the long-term success of any endeavor.
Join a thriving digital metropolis of decentralized applications that’s here to stay…
Optimism was stolen from Optimism
Before the airdrop, Optimism developers transferred 20M $OP to the multisig wallet of Wintermute market maker. However, due to some internal error, the team never got access to the wallet. The hacker did it instead of them
He spent about a million from those tokens, sent another million to supposedly Vitalik Buterin’s wallet, and returned 17 million. Poly Network’s hacker certainly did it better when he returned all $611 stolen millions.
If the funds got stolen from a crypto company, they could easily be stolen from you.
That’s why you should use only trusted platforms and avoid depositing all of your money in any of them. Today, crypto lender Celsius stopped withdrawals, swaps, and transfers on its platform due to “extreme market conditions.” We don’t get to trust any platform too much these days.
Optimism addresses the practical needs of developers and users. It works great now, and it’s only getting better.
A community of builders
Hop in the Discord and get all the technical support you need from the Optimism Support Nerds or find teammates for your next big project.
Not a Financial Advice
The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. Fxkinfin does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
New US bill on digital assets LEAKED?
US bill on digital assets. It seems to be a draft of an upcoming U.S. bill on digital assets, but this info is unofficial, and the document may not even be real. 3 Month Treasury Bill Rate is at 1.54%. US Bill. Digital Assets. Bills. Treasury Bill Rate.
US bill on digital assets
There’s a document shared around on the internet, which looks like a leaked US bill on crypto. It seems to be a draft of an upcoming U.S. bill on digital assets, but this info is unofficial, and the document may not even be real.
However, there are some key statements I’d like to point out:
- It requires DAOs to be registered entities in the US
- Anon projects would be almost impossible to run due to new disclosure requirements
- Exchanges will face a huge increase in compliance costs, which may lead to fees going up
- Bankruptcy definition changes, making it clear assets deposited would get returned to users and not liquidated
- Gives depository institutions the right to issue stablecoins which is good.
This “document” definitely needs to be ironed out, but it’s a nice start if we’re looking at a long-term perspective. But again, it may not even be real
US Treasury Bill Rates
3 Month Treasury Bill Rate is at 1.54%, compared to 1.69% the previous market day and 0.04% last year. This is lower than the long term average of 4.18%.
Average Growth Rate: 116.6%
Have You Heard Arbitrum Odyssey: Best NFT Drop in June 2022
Arbitrum Odyssey. Finally the Arbitrum team has posted an official announcement. Event details & why you should participate. The event will be up for 2 months, its main goal is to encourage users to engage with Arbitrum and various dApps supported by this network.
Finally the Arbitrum team has posted an official announcement
The event will be up for 2 months, its main goal is to encourage users to engage with Arbitrum and various dApps supported by this network. For interacting with chosen dApps, you’ll be eligible to claim NFTs every week. The claim will be happening on the Project Galaxy platform.
17 NFTs will be up for grabs
- 1 for bridgeweek (week 1)
- 1 bonus one from bridgeweek if you use the bridge everyone else uses
- 14 for weeks 2-8
- 1 final one for getting 13/16 NFTs (there are rumours that owning this particular NFT may make you eligible for the future Arbitrum airdrop, but it’s just rumours)
WHAT YOU’LL NEED TO JOIN THE ODYSSEY
- A decentralized wallet (MetaMask will do just fine)
- Some ETH to interact with dApps and pay for gas
Event details & why you should participate ( CLICK HERE )
Advice on how to prepare for the event ( CLICK HERE )
Join the Arbitrum Odyssey discussion on discord. I’ll keep you updated on this event