Like diligent secretaries of currency, ECB officials toil in the shadows of tedium, the preparation phase of their digital endeavor commencing in the waning days of 2023. Their hands and pens, ever restless, continue their work.
Imagine, over 100 titans of finance, technology, and payments dancing in harmony, all eager to bridge the chasm between old-school banking and the shiny new on-chain cosmos. A veritable feast for the curious and a headache for the skeptics! Circle’s CEO Jeremy Allaire, with a flourish, claims Arc connects every nook and cranny of the global economy, making lending, foreign exchange, and payments as easy as a Sunday stroll – if Sunday involved sub-second finality and dollars, of course.
Hong Kong finished testing its digital currency pilot program on October 28th, and Japan’s new stablecoin, JPYC, quickly reached a value of over 50 million yen in just two days. Meanwhile, South Korea cautioned about the potential dangers of stablecoins losing their fixed value, and Australia announced clearer rules for how stablecoins will be regulated on October 29th.
This marvel of modern engineering, which promises encrypted whispers via Bluetooth mesh networks, now perches at No. 2 on Jamaica’s app charts-a feat rivaled only by Zoom Earth, the weather oracle. Thus, the Jamaican soul reveals its priorities: survival demands both forecasts and frantic texts 📵. Two million eight hundred thousand souls, now united by Bluetooth and desperation.
On Tuesday, in a dazzling display of courtroom drama at the US District Court for the Southern District of New York, the US prosecutors fired back against an amicus curiae – that’s a fancy term for a brief from someone who isn’t even part of the case but still wants to have their say. This particular brief, filed by Coin Center (a crypto advocacy group), seemed to want to give the brothers a chance to skip away scot-free. The prosecutors? Not impressed. 😡
Job growth, once a stalwart steed, now limps like a wounded beast. On October 29th, the Fed’s high priest, Jerome Powell, intoned: “In this tepid and faltering labor market, the specters of unemployment loom ever larger…” 🕯️ His words hung in the air, heavy as a Russian winter. Inflation? “Eased,” he claimed, though it lingers like a bad confession.
Don’t hold your breath, but if ARB manages to hover above $0.36, we might just see it zooming toward $0.46. If market sentiment behaves itself, of course. 😉
Martinez, armed with the cold calculus of history, traced a path of past miseries: a 24% collapse on July 22nd, a 17% wail on August 8th, and a symphony of 13% drops in mid-August and September. “Lo! On September 27th, a buy signal birthed a 12% rebound, and October 22nd saw a 14% surge,” he proclaimed, as if recounting the tragicomedy of a market lost in its own farce. Now, the TD Sequential, with a new “9” mark near $2.64, signals another plunge, as inevitable as the sun rising to mock the night.
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