The Block
A new poll, which included responses from fewer than 40% of the world’s central banks, shows that some central banks in advanced economies are ramping up CBDC-related experiments.
The 7-day moving average of active addresses on Aptos has picked up, climbing from 61,000 in early May to over 150,000 by the end of the month. The 7-day moving average of the number of user transactions on Aptos skyrocketed to 47 million. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take DeFi protocol Delta Prime suffered a $6 million exploit after an administrator lost control of the private key. The team says the risk is contained and only affected its deployment on Arbitrum.
Quick Take The settlement comes after New York Attorney General Letitia James said Gemini “misled thousands of investors,” including New Yorkers on risks tied to the Gemini Earn program. Under the agreement, Gemini is also banned from conducting any crypto lending program in the state.
The U.S. Federal Reserve is widely expected to cut its benchmark rate this week, with interest rate traders predicting a 50 basis-point reduction at Wednesday’s Federal Open Market Committee (FOMC) meeting.If the Fed decides to cut rates by 50 basis points, the market for risk assets, including bitcoin, could react positively, according to an analyst.
Quick Take DAO developer Aragon Project announced it has built a “governance hub” for Polygon. Aragon Project has created “an end-to-end governance solution, including protocol governance contracts.”
MicroStrategy provided the pricing of its offering of $700 million of 2.25% convertible senior notes.The offering is expected to close on June 17.
Quick Take Residents of a Norwegian town have been trying to get rid of a nearby Bitcoin mining facility for years amid noise complaints — with its operations eventually halted last week. What the residents perhaps didn’t foresee, however, was their bills spiking 20% as the local power company seeks to recover lost revenue.
Analysts from QCP Capital predict a summer lull in the crypto market, anticipating lower trading volatility for bitcoin based on options data.The analysts added that ether options are currently exhibiting higher implied volatility compared to bitcoin options.
Market realignment for a single U.S. Federal Reserve rate cut this year has dragged bitcoin and equities lower.However, after a recent rate cut by the Bank of Canada and the European Central Bank, the market expects the Federal Reserve and the Bank of England to follow suit in coming months, analysts said.
