Episode Details

02nd Nov: Crypto & Coffee at 8
🚨FOMC: No Hike 🔻Binance BNB🔻 Chain Multichain hack❌ Visa digital Hong Kong dollar pilot test 🧐Ripple Labs unlocked another 1 billion XRP

🚨 Federal Reserve Board chair Jerome Powell has decided to skip interest rate hike at the FOMC meeting but does not rule out the possibility of a rate hike later this year. We strongly recommend watching the full interview via YouTube here https://lnkd.in/dWatj9tE

❗ Interest Rate Hike Unchained = Bitcoin & Crypto
⚡CoinDesk article states Bitcoin Retakes $35K After FOMC as Solana’s SOL Leads Sharp Altcoin Rally https://lnkd.in/dbMPr8KT
See slides 1 & and 2 below & and check out Blockchain DXB’s Crypto & Coffee at 8 podcast to get our commentary on this. It’s important to note that The Fed will continue to examine how much “additional policy firming” might be needed in order to slow price growth down to the central bank’s 2% annual target.

⚡ Binance in 2023
⚡ State of BNB Chain Q3 2023 by Messari states BNB Chain Q3 Revenue Takes A Hit: Fees Plummet By 40% Report here https://lnkd.in/dyr4t2EH
Key highlights are

- BSC validators increased 10% QoQ.
- BNB’s supply decreased by 1.3% in Q3.
- DeFi TVL was stable in BNB terms but fell 23% in USD due to the BNB price drop.
- BNB revenue dropped 41% in Q3.
- BNB Chain launched opBNB in Q3 and is developing BNB Greenfield for Q4.

🔴 Multichain, a cross-chain protocol that experienced a security breach, has now verified several transactions, and the backlog of pending transactions has been reduced to just one, as indicated by Multichain’s explorer tool data. Blockchain records validate the confirmation of certain transactions on the destination chain, while others are reflected as confirmed in the Multichain explorer but have yet to be confirmed on the destination chain. More info on this via Cointelegraph here https://lnkd.in/d3Ru2niJ

🚨 Hong Kong CBDC
❗ Visa, in collaboration with HSBC and Hang Seng Bank, has successfully concluded the Central Bank Digital Currency (CBDC) pilot program conducted by the Hong Kong Monetary Authority (HKMA) The e-HKD program involves tokenization of deposits, where the money deposited with a bank is minted on the firm’s own blockchain ledger with the backing of its balance sheet. Official info here https://lnkd.in/dmBF3Z-N Also the platform was able to function 24/7, besting traditional payment systems that would n