This week in crypto 🗞️

1️⃣ #PayPal launches $PYUSD stablecoin

2️⃣ SBF jailed after judge revokes bail

3️⃣ SEC delays ARK 21Shares #Bitcoin ETF decision

4️⃣ #Binance secures license in El Salvador

5️⃣ #Coinbase's Base exceeds 100K daily active users

6️⃣ Chamber of Digital Commerce Files Amicus Brief in Coinbase Case with SEC

🔵 #Bitcoin remained below the $30,000 mark and was trading sideways.

🔵 Other popular cryptocurrencies like #Ethereum (ETH), #Dogecoin (DOGE), #Ripple (XRP), #Litecoin (LTC), and #Solana (SOL) experienced losses.

🔵 The #SEI token had a massive 24-hour gain of over 2,600 percent following its beta launch.

🔵 #ApeCoin (APE) experienced the biggest loss, with a 24-hour dip of nearly 12 percent.

🔵 The global #cryptocurrency market cap had a 24-hour loss of 1.10 percent, standing at $1.16 trillion at the time of writing.

🚨 BREAKING: #Coinbase just got the GREEN LIGHT for #Bitcoin and #Crypto futures trading in the US

1️⃣ Coinbase gains approval from the NFA and #CFTC, becoming a Futures Commission Merchant (FCM), allowing them to offer crypto futures trading to eligible U.S. customers.

2️⃣ This makes Coinbase the first #crypto-native platform to provide both traditional spot crypto trading and regulated leveraged crypto futures within a single integrated solution, promoting regulation and transparency in the industry.

3️⃣ Coinbase's approval showcases its commitment to high consumer protection standards and its effort to drive growth and participation in the crypto derivatives market, potentially impacting global #cryptotrading volume.

4️⃣ The milestone not only establishes a precedent for regulatory compliance in cryptocurrency trading but also boosts Coinbase's standing as a potential partner for spot #Bitcoin #ETF applications.

🚨BREAKING: 🇺🇸 Federal Reserve's #FOMC meeting minutes about to drop, revealing SHOCKING details on future rate hikes 😱 10Mins Left

#FOMC MEETING MINUTES 📜 🚨

1️⃣ Most officials are concerned about inflation risks and the potential need for higher interest rates.

2️⃣ The staff's outlook indicates no recession in 2023, but subdued economic growth in 2024-25.

3️⃣ Officials view inflation risks as significant, with some considering risks to be two-sided.

4️⃣ The #FOMC will base rate decisions on a comprehensive assessment of economic and inflation data.

5️⃣ Some officials observe tighter bank credit conditions and potential impacts on commercial real estate.

6️⃣ Several officials emphasize the need to consider the risk of overtightening financial conditions.

7️⃣ Inflation has eased since the middle of the previous year but remains above the 2% target.

8️⃣ Participants believe rate hikes are effective despite uncertainties about the timing of their impact.

9️⃣ There's consensus that a gradual economic slowdown is occurring

🔟 Participants see below-trend growth and a softer labor market as necessary for restoring economic balance.

JUST IN: 🇺🇸 President Donald Trump warns the US dollar is losing its dominance as the world's reserve currency.

Source: @FOXNews

1️⃣ Former President Trump dislikes Jerome Powell: He said he wouldn't reappoint Powell as Federal Reserve leader if he's reelected in 2024 due to perceived lateness in decision-making.

2️⃣ Powell's background: Trump originally nominated Powell in 2018, but their relationship soured over interest rate hikes. Biden later nominated and confirmed Powell for a second four-year term.

3️⃣ Trump's surprise: Trump expressed surprise at Powell's reappointment, suggesting it might have been influenced by his own disapproval of Powell.

4️⃣ Powell's tenure: Powell, a Republican appointed by Obama and later picked by Trump, gained bipartisan support for resisting pressure to cut rates during strong economic times and managing financial stability during the COVID-19 pandemic.

#CryptoMarket Update

Global #crypto market cap was $1.06 trillion, with a 24-hour loss of 6.76%.

#Bitcoin ($BTC) fell below $26,250.11 due to US inflation concerns, Chinese economy decline, and SpaceX BTC holdings markdown.

#Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Litecoin ($LTC) , and #Solana ($SOL) also dropped.

#Injective ($INJ) is the Top Gainer and #Conflux ($CFX) is Top Loser