Weekly Crypto Digest for July 23 - July 30, 2023.
Monday, July 31, 2023
Fed raises key rate by 25 basis points, U.S. House of Representatives Committee Adopts Crypto Regulation Bill, Worldcoin launches token and more news in the lates issue of Weekly Crypto Digest.
Fed raises key rate by 25 basis points
On July 26, the US Federal Reserve System (FRS) raised the key rate range by 25 basis points to 5.25-5.5% per annum.
Earlier, the US Federal Bureau of Labor Statistics stated that the consumer price index in annual terms slowed down from 4% to 3%. Against this background, Fed Chairman Jerome Powell said that the agency will continue to raise interest rates, but not as aggressively as before.
The cryptocurrency market calmly reacted to the continuation of the Fed's policy, the quotes of the largest digital assets by capitalization did not show significant dynamics.
U.S. House of Representatives Committee Adopts Bill to Regulate Cryptocurrency Market
On July 26, the U.S. House Financial Services Committee approved the 21st Century Financial Innovation and Technology Act, which provides for the creation of a regulatory framework for the digital asset industry.
The document proposed a week earlier obliges the SEC and the CFTC to develop appropriate rules for the crypto market.
According to a press release, the bill provides clarity on which digital assets are regulated by each agency in order to "allow innovators to create and develop new products with confidence, and provide basic consumer protections."
Worldcoin launches its own token
Sam Altman's Worldcoin cryptocurrency project has announced the official launch of the native WLD token. The listing of the new coin was announced by many major crypto exchanges, including Binance, Bybit, and OKX.
Users will be able to get WLD when passing verification, as well as for participating in beta testing of the project. The developers promised to share more accurate tokenomics in the near future.
However, Ethereum co-founder Vitalik Buterin said that Worldcoin poses a privacy threat due to the retinal scanning function, and criticized users themselves for centralization and low security of mobile devices. At the same time, he called the concept of Worldcoin "really valuable."
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Since the beginning of the war, Ukraine has received $225 million in
Since February 2022, Ukraine has received $225 million in cryptocurrencies to counter the Russian invasion.
According to experts, most of the donations - $83 million - came in the form of USDT, $79 million - in Ethereum, $41 million - in bitcoins. Donations also came in Binance USD Polkadot and other coins.
Most of the funds are raised by humanitarian initiatives — about $134 million in cryptocurrencies. Military campaigns received $91 million.
“Sleeping” address for 11 years moved Bitcoins by $31 million
Dormant for over 11 years, the wallet moved all of its 1,037 BTC, worth about $31 million.
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