Fidelity Investments became the latest Wall Street asset manager on 18 Jun to introduce a money market fund designed for stablecoin issuers under the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act). The product is not new. BlackRock has run a structurally similar fund since November 2022. At least six other managers have introduced their own versions in the interim. What seems to separate them is how loudly each has been pitched.
The US Federal Reserve left interest rates unchanged on 17 Jun, the first policy decision under chair Kevin Warsh since he succeeded Jerome Powell last month, while signalling a more hawkish outlook by raising its inflation forecasts.
In the context of cryptocurrency, a hack refers to an unauthorized breach or exploitation of a blockchain platform, crypto exchange, wallet, or smart contract, resulting in the theft, manipulation, or loss of digital assets.
"I bought my first Bitcoin in 2014 and, by the way, I haven’t sold any since then. I’m a believer in all crypto."
China’s central bank is opening offshore yuan (CNH) trading to six major mainland banks inside the Shanghai Free Trade Zone for the first time since the offshore renminbi market was established in Hong Kong 16 years ago.
