On this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub constructed on the Cosmos SDK that gives instruments for macro-level borrowing and lending purposes. Earlier than founding Umee, Xu led technique at Tendermint whereas setting the strategic roadmap and partnerships for the Cosmos Ecosystem.
We begin issues off with our foremost subject for at this time: Bitcoin (BTC) touched $29,000, a brand new excessive for 2023, regardless of latest United States regulatory crackdowns on crypto companies and associated uncertainty. This might additionally counsel the crypto market doesn’t appear too bothered in regards to the Commodity Futures Buying and selling Fee’s lawsuit in opposition to Binance and its CEO Changpeng “CZ” Zhao. Even the Crypto Concern & Greed Index — which goals to numerically current the present “feelings and sentiments” towards Bitcoin and different giant cryptocurrencies — has been steadily rising during the last month regardless of wobbles within the world banking sector. What does all this actually imply for the crypto area, although? Ought to traders not be so fearful about rules?
This week Saudi Arabia, Kenya, Pakistan, Russia, India and Brazil determined to settle commerce in their very own currencies slightly than america greenback. Why have they determined to do that, and can it have a big impression on the U.S. and the greenback? Will there be any ramifications for the crypto area, if any?
We ask Xu what his imaginative and prescient is for a way DeFi protocols and crypto exchanges intend to construct out their very own banking companies sooner or later. Centralized crypto exchanges are below all types of strain from regulators in the intervening time, but we nonetheless see Constancy Investments increasing its choices, and Nasdaq is getting near launching its crypto custody platform. We additionally get Xu’s ideas on Constancy Funding’s latest growth.
There’s a lot occurring in the intervening time so far as rules within the crypto area are involved, largely cracking down on the crypto sector. We ask Xu what his long-term imaginative and prescient is for the way forward for the regulated crypto area in america.
America Federal Reserve appears to be in an endless battle in opposition to inflation. The rate of interest hikes don’t appear to have an finish in sight both. Is the Fed shedding its battle? At what level will we see a pause in rate of interest hikes, and the way lifelike is it for the Fed to attain its targets for this 12 months?
We cowl all this and extra, so be sure that to remain tuned till the tip. Market Talks airs each Thursday at 12:00 pm ET (5:00 pm UTC). Every week, it options interviews with a number of the most influential and galvanizing folks from the crypto and blockchain trade. So, head on over to Cointelegraph Markets & Analysis’s YouTube web page and smash these Like and Subscribe buttons for all our future movies and updates.
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