Fed Keeps Rate Unchanged, Strike Goes to Mexico, Binance and SEC to Negotiate on Asset Freeze, Arbitrage Bot Profits $3 + More News

Federal Reserve chair Jerome Powell. Source: YouTube / Bloomberg 

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Economic information

  • The US Federal Reserve introduced that it’ll hold its rate of interest unchanged at 5-5.25%. Just forward of the announcement, the CME’s FedWatch Tool estimated a is a 97% probability that the speed would stay unchanged.
  • Bitcoin (BTC) traded barely greater within the hours main up to the Fed’s rate of interest announcement. Three hours forward of the announcement, the BTC worth stood simply above the $26,000 mark, up a mere 0.1% for the previous 24 hours. The rapid response after the announcement was a slight drop within the worth.

Exchange information

Bitcoin information

  • The Bitcoin-focused funds app Strike has launched its “Send Globally” characteristic for Mexico, and now helps remittance funds to the nation. Payments may be despatched with US {dollars} over Bitcoin’s Lightning Network and paid out to the recipient’s checking account in Mexican pesos, a press launch from Strike mentioned.

DeFi information

  • An arbitrage bot has minted and burned $200 million value of the stablecoin DAI to generate a mere $3, blockchain information supplier Arkham Intelligence mentioned on Twitter. The operation was a so-called flashloan, which on MakerDAO may be performed with up to 500 million DAI so long as the borrow and re-payment occurs inside the similar block.

Investment information

  • Blockchain interoperability protocol Connext has raised $7.5 million, bringing its complete valuation to $250 million, in accordance to a Twitter announcement. The funding spherical noticed participation from Polychain Capital, NGC Ventures, Polygon Ventures, IOSG Ventures, Fenbushi Capital, KXVC, a_capital, No Limit Holdings, Factor, and Dokia Capital.
  • Artificial intelligence (AI)-focused web3 information supplier Mnemonic has raised $6 million in a funding spherical led by Salesforce Ventures, an announcement mentioned. Salesforce plans to use Mnemonic’s expertise in its buyer relationship administration (CRM) product for web3 companies. The funding spherical was additionally joined by Polygon Ventures, Orange DAO, FIN Capital and FJ Labs.

Regulation information

  • Industry affiliation Blockchain Australia is taking a stand in opposition to restrictions imposed on the crypto business in Australia, saying in an announcement that it’ll cope with the difficulty head-on. “We want to cultivate a shared sense of urgency and collaboration to protect those at risk of scams without losing the benefits of a growing digital currency industry,” the announcement mentioned.

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