EA co-founder Bing Gordon, the exec behind classics like The Sims, Lord of the Rings: Battle for Middle-earth, and a board member at Grand Theft Autoโs parent company, is joining the Sui Foundation as an advisor.
๐พ The legend who helped shape gamingโs past is now building its future - on Sui.
Federal Reserve Chair Jerome Powell recently suggested that the central bank's effort to reduce its bond holdingsโknown as quantitative tightening (QT)โis approaching its end.
Speaking to a business conference, Powell stated that the Fed is nearing the point where it will stop the balance sheet runoff when bank reserves are "somewhat above the level we judge consistent with ample reserve conditions."
โ Quantitative Tightening (QT): Powell indicated the Fed is close to completing this part of its monetary tightening program, noting that "liquidity conditions are gradually tightening." The goal is to reduce the Fed's balance sheet (which swelled during the pandemic) to a size where banks have ample, but not abundant, reserves.
โ Interest Rates: Powell offered no specific guidance on the future trajectory of the main interest rate (the federal funds rate).
โ Economic Outlook: He expressed continued concern that the labor market is tightening, which has increased downside risks to employment. He noted that the outlook for employment and inflation has not changed significantly since the Fed's last meeting, despite some disruptions in economic data due to a government shutdown.
โ Payment on Reserves: Powell defended the Fed's practice of paying interest on bank reserves, stating that eliminating these payments would cause the Fed to lose control over rates and hinder its ability to carry out monetary policy.
๐๐ก๐ ๐ข๐ง๐ญ๐๐ซ๐ง๐๐ญ ๐๐ข๐๐งโ๐ญ ๐ฌ๐ญ๐จ๐ฉ ๐๐ญ ๐๐จ๐ซ๐๐๐ซ๐ฌ โ ๐๐ง๐ ๐ง๐๐ข๐ญ๐ก๐๐ซ ๐ฐ๐ข๐ฅ๐ฅ ๐ญ๐ก๐ ๐ข๐ง๐ญ๐๐ซ๐ง๐๐ญ ๐จ๐ ๐ฏ๐๐ฅ๐ฎ๐.
Stablecoins are borderless, always-on money, and the first real upgrade to global payments since SWIFT.
Regulation, by definition, isnโt borderless. Jurisdictions worldwide โ led by the EU and U.S. โ are adopting their own stablecoin rulebooks. But to unlock the full potential of the internet of value and stablecoin-powered cross-border commerce, these rules must be aligned across borders.
In my latest op-ed for @CoinDesk, I examine the worldโs two leading frameworks โ Europeโs MiCA and Americaโs GENIUS Act โ and show how, despite some minor differences, they provide a shared foundation for safe and credible global stablecoin operations. And for further cross-border alignment.
Merz and Macron are right: fragmentation of the internet of value is not an option. Now is the time to foster true global alignment
Link to my new op-ed in the comments ๐
With MiCA, GENIUS and other stablecoin regimes taking shape, the global policy priority will shift towards international compatibility, mutual recognition, and practical interoperability.
This will be a defining conversation for policymakers and operators over the coming years.
The internet financial system is global by design, and regulatory balkanisation must be prevented at all costs.
Read my recent the paypers interview (before GENIUS passed): https://t.co/bxzRVqH0CZ
EURC, the largest euro-denominated stablecoin in circulation issued by @circle, can now be natively transferred between @ethereum, @avax, @base & @solana, powered by @wormhole & @MayanFinance.
iShares Bitcoin ETF crosses *$90bil* in assets...
Now the 20th largest ETF (out of 4,400+ ETFs).
Can't explain how ridiculous it is to achieve this in 19 months.
Next stop... $100bil.
via @sidcoins
YoY Core CPI, 3.1%
Up 0.3% in the last 3-months
In the last 40 YEARS, only once has the Fed CUT rates when core was above 3% AND the 3m chg was >0.3%, Oct 1990 to Mar 1991.
Agree with @EpsilonTheory, the 2% infaltion target is dead.
We are accepting a higher inflation world.
@fur1a78@WuBlockchain Germany never sold any #Bitcoin. The LKA (State Crime Agency) of the state Sachsen legally had to sell BTC because it was seized in the operation against Movie2K.
@resdegen Germany never sold any #Bitcoin. The LKA (State Crime Agency) of the state Sachsen legally had to sell BTC because it was seized in the operation against Movie2K.