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The crypto currencies fell dramatically late Wednesday into Thursday. Bitcoin dropped below $25,000, while Polygon’s MATIC, Cardano’s ADA, and Cardano itself experienced 24-hour drops of up to 8% and 9%, respectively. This follows the Federal Reserve’s policy announcement on Wednesday, in which it announced that the central bank would suspend rate hikes at least for one meeting but indicated they expect further monetary tightening by the end the year. LMAX Digital’s morning note suggests that Bitcoin may see more short-term losses. According to our technical insights from today’s update any further setbacks of the bitcoin price should be supported before $22K.

Users should not be able program the central bank digital currency to limit its use. The leaked bill stated that users would not be allowed to pay interest or surcharges on a digital euro. The text seen by CoinDesk stated that “the digital euro will be available both for online and offline digital Euro payment transactions from the day of its first issuance.” It said that the level of privacy when using digital euro offline and face-to-face should be “comparable to” withdrawing cash from an ATM.

OKX Middle East, the Middle Eastern branch of OKX and the second largest cryptocurrency exchange in terms of trading volume, , has received an MVP Preparatory License from the Dubai Virtual Assets Regulatory Authority. OKX Middle East says it has moved into a new office at the Dubai World Trade Center and plans to increase its staff by 30 people, with a particular focus on hiring locals and senior managers. OKX Middle East, which is the second-largest cryptocurrency exchange by trading volume, has received an MVP Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA). The company plans to expand its staff up to 30, with a focus on local hires and senior management.

Chart of the Day

CoinDesk - Unknown DeFi Llama

  • The chart below shows that the total value of Binance Smart Chain (BSC), as shown in the chart, has fallen to $3.29 Billion, its lowest level since March 2021.
  • Binance’s SEC crackdown in the US has caused investors to pull capital out of BSC-based projects.
  • According to Matrixport, BSC’s revenue from fees has fallen 50% from last year and is down 30% from its second quarter average daily.

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Stephen Alpher edited the book.