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The Korea Institute of Finance’s latest report on spot crypto ETFs said such types of funds may weaken the local economy.South Korean regulators currently prevent local issuers from launching crypto ETFs.
Quick Take Light Protocol and Helius Labs have introduced “ZK Compression” to further scale applications on the Solana network. ZK Compression utilizes state compression to store data in Solana’s cheaper ledger space instead of the more expensive account space.
Here’s what you need to know about Ripple’s legal woes as of June 24th.
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The S&P 500 and the Nasdaq Composite both reached new peaks last week.
Quick Take The median daily gas price on the Ethereum network hit its lowest level since 2020 on Saturday, making a strong case for Layer 2 networks easing the burden of sending a transaction on mainnet. Simultaneously, Bitcoin mining revenue per hash has also approached record lows both this month and last month as miners feel the impact of the latest halving event.
- 22:46The probability of the Federal Reserve maintaining the interest rate unchanged in May is 83.3%According to CME "Fed Watch": The probability of the Federal Reserve maintaining interest rates in May is 83.3%, and the probability of a rate cut by 25 basis points is 16.7%. The likelihood of the Fed keeping interest rates unchanged until June is 23.3%, with a cumulative chance of a rate cut by 25 basis points at 64.7% and a cumulative chance for a rate cut by 50 basis points at 12%.
- 22:45Goldman Sachs: It is now predicted that the Federal Reserve will cut interest rates in July, September, and NovemberGoldman Sachs: It is now predicted that the Federal Reserve will cut interest rates in July, September, and November.
- 22:24Hong Kong plans to expand the tax exemption scope for family offices, covering areas such as virtual assets.According to the Xinbao report, Xu Zhengyu, the Director of Financial Affairs and Treasury Bureau in Hong Kong, stated that the number of family offices settled in Hong Kong is expected to exceed 3,000 in a short period. Currently, over 2,700 family offices have been established. He revealed that authorities are planning to expand the tax exemption scope for investments made by family offices including private lending, virtual assets and carbon credits with an aim to implement related regulations by April 1st, 2025. Xu Zhengyu pointed out that despite the increasingly complex global geopolitical environment, Hong Kong has attracted a large number of investors due to its stable regulation and predictability. He also mentioned that Hong Kong is striving to become the world's largest cross-border wealth management center and expects this goal will be achieved between 2027 and 2028.