Upcoming economic events 30 April 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsRetail Sales (MoM) (Mar)  0.2%0.3%01:302 pointsChinese Composite PMI (Apr)---------52.701:303 pointsManufacturing PMI (Apr)50.350.801:302 pointsNon-Manufacturing PMI (Apr)52.253.001:452 pointsCaixin Manufacturing PMI (Apr)51.051.109:002 pointsCore CPI (YoY) (Apr)  2.6%2.9%09:002 pointsCPI (MoM) (Apr)  ---------0.8%09:003 pointsCPI (YoY) (Apr)  2.4%2.4%09:002 pointsGDP (YoY) (Q1)  0.2%0.1%09:002 pointsGDP (QoQ) (Q1)  0.1%0.0%12:302 pointsEmployment Cost Index (QoQ) (Q1)1.0%0.9%13:002 pointsS&P/CS HPI Composite - 20 n.s.a. (YoY) (Feb)6.7%6.6%13:002 pointsS&P/CS HPI Composite - 20 n.s.a. (MoM) (Feb)----------0.1%13:453 pointsChicago PMI (Apr)44.941.414:003 pointsCB Consumer Confidence (Apr)104.0104.720:302 pointsAPI Weekly Crude Oil Stock----------3.230M21:002 points

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Trust Wallet Reinstated on Google Play Store Amid Security Speculations

The cryptocurrency storage service endorsed by Binance, Trust Wallet, was reinstated on the Google Play Store after a brief removal on April 29. The removal led to a 5% drop in the value of Trust Wallet's token, TWT, as users grappled with the unexpected suspension by Google, with no prior public notification. Market watchers speculated that the action might be linked to a recent FBI advisory cautioning against platforms lacking stringent KYC procedures. In the midst of rampant speculation on social platforms, a representative from Trust Wallet addressed the situation via an email response to inquiries from crypto.news. The spokesperson stated that the issue pertained to adherence to Google's policies, and confirmed that the FBI's advisory had not directly influenced Google's initial decision to remove the app. Despite efforts to

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OpenAI and Worldcoin Explore Strategic Partnership Amid Regulatory Glare

OpenAI, the trailblazer in artificial intelligence spearheaded by co-founder Sam Altman, is reportedly negotiating a strategic partnership with Worldcoin, a firm known for its innovative approach to universal basic income and identity verification through cryptocurrency, also initiated by Altman. According to Bloomberg, the proposed collaboration would involve OpenAI providing advanced AI technologies and services to Worldcoin, with potential for further integration and cooperative ventures in the future. This development arrives at a time when both OpenAI and Worldcoin are under increased regulatory scrutiny, a situation compounded by Altman's dual leadership roles. Alex Blania, CEO of Tools for Humanity, the parent company of Worldcoin, suggested to Bloomberg that the heightened scrutiny is directly linked to Altman’s high-profile

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Upcoming economic events 29 April 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious10:002 pointsEurogroup Meetings------------------19:202 pointsECB's De Guindos Speaks------------------23:502 pointsIndustrial Production (MoM) (Mar)3.4%-0.6%

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Franklin Templeton Advances with Ethereum ETF Listing Awaiting SEC Nod

Franklin Templeton, a prominent asset management firm, has introduced its Ethereum exchange-traded fund (ETF) called the "Franklin Ethereum TR Ethereum ETF," bearing the ticker code EZET. This significant move involves the ETF's listing on the website of the Depository Trust and Clearing Corporation (DTCC), a pivotal entity for securities transactions in the United States. The appearance of the ETF under the DTCC's "Create/Redeem" section is a crucial step in its operational deployment, indicating that it is now set up for creation and redemption. It is important to note that this listing does not equate to an endorsement from the U.S. Securities and Exchange Commission (SEC), as approval from the agency is still pending. The presence on the DTCC platform implies that the ETF has met certain registration and compliance

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DTCC Declines Collateral for Crypto-Linked ETFs, Amid Broader Market Shifts

In a significant policy shift, the Depository Trust & Clearing Corporation (DTCC), a key player in financial services providing essential clearing and settlement services, has declared that it will not assign any collateral value to exchange-traded funds (ETFs) with exposure to Bitcoin or other cryptocurrencies. This decision, effective April 30, 2024, will also prevent the extension of loans against such financial instruments. The announcement comes as part of the DTCC's annual review of its line-of-credit facilities, where it has decided to recalibrate the collateral values assigned to certain securities. This recalibration will see cryptocurrencies entirely excluded from collateral consideration, marking a 100% reduction in their collateral value. This move could reshape the valuation dynamics within the collateral monitoring

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Crypto Advocate John Deaton to Bolster Coinbase’s Legal Challenge Against SEC

Prominent cryptocurrency advocate and legal expert John Deaton is slated to file an amicus brief today, April 26, in support of Coinbase's petition for an interlocutory appeal. This move underscores a significant development in the ongoing debate over cryptocurrency regulation. According to Eleanor Terrett of Fox News, Deaton’s brief aims to address the critical demand for clearer regulatory guidelines within the digital asset space. His submission draws attention to what he perceives as the U.S. Securities and Exchange Commission's (SEC) erratic regulatory framework, which he argues has adversely affected industry stakeholders. Deaton's critique extends to the SEC's fluctuating stance on the classification of crypto tokens as securities. He is poised to leverage previous court rulings involving major cases like Ripple, LBRY, and

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Ripple Adopts USDT for ODL Services in the U.S. Amid Regulatory Compliance

Ripple, the prominent blockchain payments company, has transitioned its On-Demand Liquidity (ODL) services for U.S. clients from its native XRP token to Tether’s USDT stablecoin. This strategic pivot follows a pivotal court decision that declared the institutional sales of XRP tokens a violation of U.S. securities laws. In response to the legal constraints, Ripple has recalibrated its business operations by partnering with entities outside the U.S. to manage XRP sales to its ODL clientele. This realignment facilitates U.S. clients to employ USDT as a bridge currency in their transactions, thus ensuring compliance and continuity in services. Monica Long, President of Ripple, has been proactive in adhering to these regulatory demands, as noted by Moon Lambo, a prominent XRP-focused YouTuber. According to Moon Lambo, Ripple's s

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Stripe Revives Cryptocurrency Payments, Focuses on USDC Integration

At the recent Global Internet Economy conference, Stripe disclosed its plans to reintroduce cryptocurrency payments. The announcement came during the event's climax, in a keynote titled "The Future of Payments," delivered by Stripe's President, John Collison. Collison revisited Stripe's historical engagement with cryptocurrencies, noting that their journey with digital currencies began years ago. He recalled the company's initial foray into supporting Bitcoin in 2018, which was eventually phased out due to its limited adoption. With renewed vigor, Collison shared the company's enthusiasm for reintegrating cryptocurrency payments, specifying that this time, the focus would solely be on the Circle’s USDC stablecoin to ensure an enhanced payment experience. The revival of crypto payments at Stripe is driven by the tangible i

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Upcoming economic events 26 April 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsPPI (YoY) (Q1)---------4.1%01:302 pointsPPI (QoQ) (Q1)---------0.9%02:302 pointsBoJ Monetary Policy Statement------------------02:302 pointsBoJ Outlook Report (YoY)  ------------------03:003 pointsBoJ Interest Rate Decision0.10%0.10%06:302 pointsBoJ Press Conference  ------------------08:002 pointsECB's De Guindos Speaks------------------12:303 pointsCore PCE Price Index (YoY) (Mar)2.6%2.8%12:303 pointsCore PCE Price Index (MoM) (Mar)0.3%0.3%12:302 pointsPCE Price index (YoY) (Mar)2.6%2.5%12:302 pointsPCE price index (MoM) (Mar)0.3%0.3%12:302 pointsPersonal Spending (MoM) (Mar)0.6%0.8%14:002 pointsMichigan 1-Year Inflation Expectations (Apr)3.1%3.1%14:002 pointsMichigan 5-Year Inflation Expectations (Apr)3.0%3.0%14:002 pointsMichigan Consumer Expectations (Ap

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BlackRock's IBIT ETF Observes No New Inflows for the First Time Since Launch

The BlackRock iShares Bitcoin Trust (IBIT), a pioneering figure in the U.S. Bitcoin ETF landscape, has recorded its inaugural day without new inflows since the advent of these funds in the United States this past January. Despite a robust beginning with continuous daily inflows amassing approximately $15.5 billion within the first 71 days, April 24 marked a notable shift as IBIT logged zero new investments. This stagnation in inflows was not isolated to BlackRock. The U.S. Bitcoin ETF market, comprising 11 registered funds, saw minimal activity with only the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) registering inflows of $5.6 million and $4.2 million, respectively. Conversely, the Grayscale Bitcoin Trust ETF (GBTC) reported significant outflows, losing $130.4 million on the same day, netting a

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TON Blockchain Announces Substantial Cuts to Transaction Fees

The development team behind the TON blockchain has officially declared a notable reduction in transaction fees by 2.5 times across its network. This strategic move aims to enhance the blockchain's efficiency and user affordability. Detailed in the announcement, transaction fees within the TON network will now be dynamically adjusted based on the dollar value of its native token, Toncoin. Initially, the cost for the first transaction using Jettons is set at approximately $0.06, with subsequent transactions costing around $0.04. Furthermore, a specific reduction has been applied to transactions involving the USDT stablecoin, commencing April 16. The revised fee structure offers a reduced rate of 0.02 TON for the first transaction, down from 0.032 TON, and 0.0145 TON for subsequent transactions, promoting more frequent use of this

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Upcoming economic events 25 April 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious07:002 pointsECB's Schnabel Speaks------------------08:002 pointsECB Economic Bulletin  ------------------12:302 pointsContinuing Jobless Claims1,810K1,812K12:302 pointsGDP (QoQ) (Q1)  2.5%3.4%12:302 pointsGDP Price Index (QoQ) (Q1)3.0%1.7%12:302 pointsGoods Trade Balance (Mar)  -91.10B-91.84B12:302 pointsInitial Jobless Claims214K212K12:302 pointsRetail Inventories Ex Auto (Mar)  ---------0.4%14:002 pointsPending Home Sales (MoM) (Mar)0.3%1.6%17:002 points7-Year Note Auction---------4.185%20:302 pointsFed's Balance Sheet---------7,406B23:302 pointsTokyo Core CPI (YoY) (Apr)2.2%2.4%

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SEC Postpones Decision on Grayscale's Ethereum ETF Application

The U.S. Securities and Exchange Commission (SEC) has postponed its decision regarding Grayscale's application to transform its Ethereum Trust into a spot Ethereum ETF. The regulatory authority has set a new decision deadline for June 23, as it requires additional time to review the proposal and address concerns highlighted in the amended application. In a detailed statement, the SEC expressed the necessity for an extended period to adequately assess the rule change proposal and its implications, as outlined in Amendment No. 1. This amendment is critical as it pertains to allowing U.S. national securities exchanges to list and trade this new type of ETF. Grayscale initially filed a Form 19b-4 with NYSE Arca in October, seeking to convert its existing Ethereum Trust (ETHE) into a spot ETF. This filing follows the successful

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Surge in Scams Targeting Toncoin Investors Amidst Growing Blockchain Interest

Cybersecurity leader Kaspersky has documented a marked increase in fraudulent activities aimed at holders of Toncoin, the native cryptocurrency of The Open Network (TON). This upsurge in scams coincides with heightened interest in the TON blockchain, notably since Telegram, the popular messaging service, enhanced its support for TON. From November 2023, a notable rise in deceptive schemes ensnaring Toncoin investors has been observed. These fraudsters typically entice victims via a Telegram bot purporting to be a secure cryptocurrency storage solution. Users are misled into linking their Web3 wallets to the bot, which subsequently coerces them into purchasing so-called "boosters" under the guise of facilitating earnings. Unfortunately, such purchases result in the irreversible loss of control over their digital assets. The

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Upcoming economic events 24 April 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsCPI (YoY) (Q1)3.4%4.1%01:302 pointsCPI (QoQ) (Q1)0.8%0.6%01:302 pointsTrimmed Mean CPI (QoQ) (Q1)0.8%0.8%08:152 pointsECB Supervisory Board Member Tuominen Speaks  ------------------10:002 pointsEurogroup Meetings------------------12:302 pointsCore Durable Goods Orders (MoM) (Mar)0.3%0.3%12:303 pointsDurable Goods Orders (MoM) (Mar)2.5%1.3%13:152 pointsECB McCaul Speaks  ------------------14:002 pointsECB's Schnabel Speaks  ------------------14:303 pointsCrude Oil Inventories1.700M2.735M14:302 pointsCushing Crude Oil Inventories---------0.033M16:302 pointsAtlanta Fed GDPNow (Q1)2.9%2.9%17:002 points5-Year Note Auction---------4.235%

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Shiba Inu Secures $12 Million Investment for Advanced Layer 3 Network Development

The Shiba Inu project team has successfully secured a $12 million investment to propel the development of a pioneering Layer 3 network. This new initiative leverages the homomorphic encryption technology provided by Zama, previously attracting a substantial $73 million in funding. The anticipated test version of this Layer 3 network is slated for release in the third quarter of 2024, aiming to meet stringent regulatory standards while prioritizing the security and privacy of its users. This financial boost was achieved through the sale of the TREAT token to a select group of venture investors. The forthcoming blockchain network emphasizes privacy and will be constructed atop Shibarium, Shiba Inu’s Layer 2 solution designed to enhance Ethereum scalability. Despite the significant interest from the investment community, Shytoshi K

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