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Ethereum layer-2 network Base reaches 6 million transactions in a single day
Ethereum layer-2 network Base recorded 6 million daily transactions on October 12, shattering its record for most transactions in a single day set only a few weeks ago. The network’s creator, Jesse Pollack shared the milestone on X, showing that the network recorded 6.1 million daily transactions, with an average of 5.42 million for the […]Cryptopolitan
Sun, Oct 13
Federal Reserve’s rate cuts could shake stablecoins’ stability
The Federal Reserve’s rate cuts could be great news for Bitcoin and stocks, but they are threats that could tamper with the stablecoin market’s relative stability. You see, stablecoins are heavily backed by U.S. Treasurys. Right now, they hold over $120 billion in Treasurys, making them the 18th-largest holder. Tether (USDT) and USD Coin (USDC) […]Cryptopolitan
Sun, Oct 13
Scroll under attack for favoring Binance users over its own community
Scroll has received heavy criticism since it released its airdrop allocation. Most of the backlash has come from its community because of the project’s decision to allocate 5.5% of the SCR token supply to Binance’s launchpool. The move has turned many of Scroll’s early supporters against the project. Those early adopters had expected more favorable […]Cryptopolitan
Sun, Oct 13
ECB faces renewed challenges with low inflation in the Eurozone
The European Central Bank (ECB) is once again battling inflation problems. But this time, inflation isn’t too high — it’s too low. In September 2023, inflation dropped to 1.8%, falling below the ECB’s 2% target. This decline marks a sharp turn from the previous surge in prices, which pushed the central bank to raise interest […]Cryptopolitan
Sun, Oct 13
China faces deflation threats as it stalls on stimulus
China is struggling with rising deflationary pressures. Data from September shows weaker-than-expected consumer and factory prices. This has ramped up calls for the Chinese government to release a larger stimulus package. But despite the calls, Beijing seems hesitant, leaving markets hanging as investors eagerly wait for clear, decisive action. Weak inflation, strong concerns The National […]Cryptopolitan
Sun, Oct 13
Saudi Arabia’s imminent crude oil supply hike could mean tough times for the Russian economy
The Saudi Arabian government is reportedly on the verge of flooding the global market with oil supply if the Organization of Petroleum Exporting Countries (OPEC) does not commit to reducing oil flow. The imminent oil supply influx could send oil prices dipping to as low as $50 per barrel. The move could create a crisis for OPEC members, including Russia.Cryptopolitan
Sun, Oct 13
Jim Cramer endorses Kamala Harris – Black November ahead
Jim Cramer has indirectly endorsed Kamala Harris as the 47th president of the United States. Traders always know to do the opposite of what Jim Cramer advices. Many have branded him the “Inverse Jim Cramer.” So, this could be bad for Kamala.Cryptopolitan
Sun, Oct 13
Ripple’s CEO accuses the SEC of operating above the law
The four-year-long battle between Ripple Labs and the U.S. SEC has entered a new lawfare stage. In a recent post on X, Brad Garlinghouse voiced his frustration with the SEC, criticizing the agency for ignoring the court’s decision on XRP. Stuart Alderoty, Ripple’s Chief Legal Officer, has raised constitutional concerns about the SEC’s continued classification […]Cryptopolitan
Sun, Oct 13
