Crypto Market Temperature Check
Crypto markets bleed red today. Terra uses BTC reserves to save the UST from going to zero, and LUNA nukes. Learn why, now.
BowTied Scholar
May FOMC Takeaway
The FED continues to try to tame inflation. FED raises rates 50 bps, and announces plans for balance sheet reduction, QT, beginning June 1. Currently the FED shows no plans for rate hikes higher than 50 bps.
A Quick Update on CBDCs
A CBDC Update for the US, EU, China, and Russia projects. Things are moving along very quickly as 9 countries already use a CBDC, and 14 more are in pilot.
E-Cash Proposal and CBDC Update
A Bill proposed in the United States House of Representatives asks for the United States Treasury to develop an alternative to a CBDC. The proposal comes as a response to the continued work the Federal Reserve and the US Treasury undergo to develop a CBDC. This is a proposal for a “digital equivalent” to physical dollars.
Hashmasks Discord and Twitter HACKED
The Hashmasks Twitter and Discord accounts have been HACKED. Do not engage with any links they post.
The Importance of Hardware Wallets
When you keep your coins on Coinbase, Binance, Crypto.com, and all other centralized exchanges you leave them vulnerable to bad actors. Worst part of all? You don’t own the coins, the exchange does because the exchange has your keys. If you’re serious about crypto you need a hardware wallet. “Not Your Keys, Not Your Coins.”
Summarizing the 2022 BIS Innovation Summit
The Bank for International Settlements had their annual Innovation Summit this week. Here is a background summary of the BIS, their intentions for CBDCs, and the ongoing project that is setting the stage.
The FED “Tames” Inflation Too Late
The FED increased interest rates for the first time since 2018. Pointing toward an aggressive rate hike schedule.
Summarizing the Executive Order on Digital Assets
A summary of the Executive Order that came from Biden today. There is incoming regulatory clarity, CBDC developments are serious, and the US wants to lead in crypto innovation.
MetaMask and OpenSea Block Users
Explaining what happened with Infura and MetaMask, and OpenSea. Clarity and next best steps provided. If you haven’t already, buy a hardware wallet.