Macro Market

  • The Fed raised interest rates by 50 basis points to a range of 4.25-4.5%, the highest level since 2007. At the press conference, Fed Chairman Jay Powell maintained a hawkish stance, confirming the policymakers' expectations of a rate hike of more than 5% in 2023.

  • The Bank of England followed suit with a 50 basis point move, raising its base rate from 3% to 3.5%, the highest level in 14 years. Finally, the European Central Bank raised its interest rate by 50 basis points from 1.5% to 2%, warning that future increases were highly likely and that "inflation remains too high."
     

  • related news:

  • The Federal Reserve's annual closing decision: a 50bp rate hike as planned

  • The Bank of England raised interest rates by 50 basis points to 3.5%, in line with market expectations
     

Cryptocurrency Market

L1

  • The Sui Foundation released the details of the SUI token economics distribution, with 50% going to the community reserve managed by the foundation, 20% to early contributors, 14% to investors, 10% to the Mysten Lab treasury, and 6% to the community access program and application testers.
     

  • related news:Sui releases SUI token distribution details, with 50% of the community reserves managed by the foundation
     

DeFi

  • Curve Finance will be deployed on the zkSync mainnet in 2023. This will also be Curve’s first deployment on ZK-rollup. In addition, Curve has been deployed on other Ethereum scaling solutions including optimistic rollups, Arbitrum and Optimism, as well as Polygon.


NFT

  • Magic Eden is launching a loyalty rewards program called Magic Eden Rewards to provide users with rewards including partner discounts, NFT giveaways, and exclusive content. In addition, Magic Eden also announced yesterday that it supports Polygon NFTs on its launch platform and marketplace.

  • Former US President Donald Trump announced the launch of his NFT series. The "Trump Digital Trading Cards" series is priced at $99 per NFT, with a total supply of 45,000 pieces, issued on the Polygon chain, and has now sold out.
     

  • related news:Former US President Trump issues personal NFT collection on Polygon
     


other

  • PayPal announced a partnership with MetaMask that will allow US users to use PayPal to purchase ETH from within MetaMask. This new feature is available to some US users starting today.

  • Crypto trading firm Amber Group has announced a $300 million Series C funding round. The round, led by Fenbushi Capital U.S., came under pressure from the FTX debacle, which led to a slew of layoffs within the company.

  • Aztec Network, a privacy-focused ZK-rollup, announced a $100 million Series B funding round led by a16z. Aztec describes itself as a “crypto version of Ethereum” and the funding will be used to hire engineers to help build the network.
     

  • related news:

  • PayPal and ConsenSys reach cooperation, US users can buy ETH in MetaMask

  • Amber Group Completes US$300 Million Series C Financing, Led by Fenbushi Capital US

  • Aztec Completes $100 Million Series B Financing, Led by A16z
     


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