94% of Central Banks Considering Wholesale CBDCs, Reveals BIS Survey
The Growing Trend Towards Wholesale CBDCs A recent survey by the Bank for International Settlements (BIS) reveals that an overwhelming 94% of central banks are currently exploring Central Bank Digital Currencies (CBDCs). The survey highlights a significant inclination towards wholesale CBDCs over retail ones, projecting this trend to strengthen in the next six years. What are Wholesale CBDCs? Wholesale CBDCs are designed for transactions between banks and financial institutions, making them a crucial tool for improving efficiency and security in the financial sector. This preference over retail CBDCs, which are meant for public use, is driven by concerns about potential authoritarian control and other socio-political implications. The Role of Stablecoins and Regulatory Efforts The BIS report underscores that stablecoins, despite their hype, are rarely used for payments outside the crypto ecosystem. However, this hasn’t dampened regulatory efforts, with two-thirds of jurisdictions actively working on frameworks for stablecoins and other cryptoassets. These efforts aim to ensure the safe and regulated use of these digital assets within the broader financial system. Safeguards for Retail CBDCs For central banks considering the implementation of retail CBDCs, more than half are planning to introduce several safeguards. These include holding limits, interoperability features, offline transaction capabilities, and zero remuneration. These measures are intended to protect consumers and ensure the smooth integration of CBDCs into the existing financial infrastructure. The Political Landscape of CBDCs in the U.S. In the United States, the topic of CBDCs has become highly political. Former President Trump has voiced strong opposition to CBDCs, advocating instead for Bitcoin mining as a countermeasure. Meanwhile, Congress continues to debate the regulatory measures necessary to oversee the implementation and use of CBDCs. Conclusion The BIS survey indicates a clear trend towards the exploration and potential implementation of wholesale CBDCs by central banks worldwide. As the financial landscape continues to evolve, it will be crucial to monitor these developments and understand their implications for global finance. #CBDCs #CentralBanks #DigitalCurrency #Finance #CryptoRegulation #Stablecoins #WholesaleCBDCs #RetailCBDCs #Blockchain #Fintech
ONE GAME CAUSES APTOS TRANSACTIONS TO SURGE 1,466% IN THREE DAYS
- The 7-day moving average of user transactions on Aptos skyrocketed to 47 million at the end of May, up from under 1 million at the start of the month, driven by the game "Tapos."
- "Tapos," a clicker game where each click executes a transaction, led to a surge in transactions, with un-averaged numbers reaching 156 million. Players earn HEART tokens by clicking, despite paying a minimal gas fee.
- Active addresses on @Aptos saw a significant increase, climbing from 61,000 in early May to over 150,000 by month's end, correlating with the game's launch.
- Launched in October 2022 from Facebook’s Libra initiative, Aptos is marketed as an easy-to-build-on alternative to @Solana and is the 17th largest network by total value locked, boasting collaborations with major partners like Microsoft and Google Cloud.
- The "Tapos" campaign ended on May 26, resulting in over 323 million transactions and 63,000 users in a few days. Post-campaign, transaction averages started to decline, highlighting the temporary nature of the game's impact on Aptos's transaction volume.
17 June : Binance - OMG·WAVES·WNXM·XEM Delisting 17 June : $RPL - Houston Upgrade 17 June : $ENA - Tokenomics update 18 June : $BEAM - $SOPH Farming 18 June : $ZEN - ZenIP 42406 Proposal
19 June : $SSV - MM Proposal ends 19 June : $GMT - StepnGO Announcement 20 June : Coinbase Future - BOME·NOT Listing 20 June : $BNB - Tycho Hard fork 21 June : Quadruple Witching Day
24 June : $LTC - Litecoin Summit 2024 24 June : $AMB - Partnership announcement 25 June : $BTT - BTFS Halving 25 June : $SD - Mega burn 26 June : $BORA - Zaif Listing 26 June : $MTL - L2 Migration (Airdrop)
27 June : U.S. - GDP (QoQ) (Q1) 27 June : 1st Trump/Biden debate 28 June : U.S. - Core PCE Price Index 28 June : $AGI - Quarterly Staking Update 28 June : $VET - VeBetterDAO Mainnet 30 June : MiCA Stablecoin Regulation
- Coinbase $PIRTAE $BOME $NOT - $TON >500M TVL - $BEAM Sophon Farming - $MANTA 50M Fund - $STRK Largest token unlock - $NEAR Nuffle Labs with $13M - $HLG Exploit - $CRV Death spiral ➜ SAFU - $SWISE x Metamask
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• Gensler sees Ether ETF S1 approval by the end of the summer.
• Coinbase lists $PIRATE, and Coinbase Future will list $BOME and $NOT on June 20.
• $BEAM - Sophon has announced that $SOPH Farming opens on June 18. The first asset announced for staking is $BEAM.
• $COTI - COTI Network has announced that the V2 Testnet is coming soon, and a vote on Treasury fee changes will occur on June 18.
• $HLG - Holograph was exploited by a malicious actor who minted 1 billion additional HLG.
• $MANTA - Manta Network has launched $50M fund to ignite ecosystem growth.
• $MNDE - Marinade Finance has announced the launch of Season 3, distributing 25M MNDE to eligible users over the next 3 months.
• $NEAR - The NEAR Foundation launched an independent entity called @nufflelabs, which secured $13 million in strategic funding.
• $STRK - The largest $STRK token unlock event (~$80M) is on June 15.
• $SWISE - StakeWise announced a partnership with MetaMask for the launch of wallet-native Pooled Staking.
• $TON - TON has announced reaching $500M in TVL, a 2,000% increase from $22.9M in March 2024.
• DWF Labs announced a partnership with $LTO and $GME.
• @newmichwill stated that the Curve Finance team and he are addressing today's liquidation risk. His large positions caused $10M in bad debt, affecting only the CRV market on lend.curve.fi. Egorov has repaid 93% and will repay the rest soon to mitigate user impact. $CRV
- Franklin Templeton $HNT $HONEY - $AKT VS $IO - $FRONT Rebranding to $SLF - $APRA DEAR on base chain - $INJ Integrated with $PYUSD - $XRP Ripple USD - $GLMR Innovation Fund $10M
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• Akash CEO @gregosuri raised an issue against competitor ioNet's products, and included a video for reference. $AKT $IO
• $ARPA - @dear_dyr will be live on Base chain on June 14.
• $BODEN - President Biden's campaign is in talks to accept crypto donations through Coinbase Commerce.
• $ENA - Ethena Labs will release details on staking pools and $ENA tokenomics update on June 17.
• $FRONT - Self Chain has announced the transition to Mainnet Stage 2, including $FRONT to $SLF token migration.
• $GLMR - Moonbeam has announced a $10M Innovation Fund to advance gaming, RWA, and the Moonriver network.
• $INJ - Injective has announced it is integrating with PayPal's stablecoin PYUSD.
• $PYR - Vulcan Forged will host VulCon4 on June 14, potentially featuring major announcements.
• $XRP - Ripple has announced Ripple USD (RLUSD), a 1:1 USD-backed stablecoin for the XRP Ledger and Ethereum, launching later this year.
• Terraform agrees to pay $4.47 billion in proposed judgment with the SEC. $LUNA $LUNC $USTC
• Franklin Templeton @FTI_DA drops report on Solana DePIN projects. $HNT $HONEY