Coinlive Morning Post - August 11

headlines

▌SEC reviews Coinbase’s cryptocurrency staking program

Cryptocurrency exchange Coinbase said it is under investigation by the U.S. Securities and Exchange Commission (SEC) for its cryptocurrency staking program, which allows users to earn rewards for holding certain cryptocurrencies. According to a quarterly regulatory filing, Coinbase received investigative subpoenas and inquiries from the SEC seeking documents and information about certain customer programs, operations, and existing and future products. These requirements, according to Coinbase, relate to staking projects, asset listing procedures, asset classification and stablecoin offerings.

policy

▌U.S. regulators propose to require large hedge funds to report their exposure to cryptocurrencies through Form PF

A joint proposal released Wednesday by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) would require large hedge funds to report their exposure to cryptocurrencies through a confidential document known as Form PF. Under the proposal, hedge funds with more than $500 million in net assets would have to report more information about their investment risk, portfolio concentration and lending arrangements.

cryptocurrency

▌Bitcoin R&D center Vinteum was established in Brazil

Vinteum, a non-profit bitcoin research and development center dedicated to supporting bitcoin developers in Brazil and the wider Latin American region, launched today. Lucas Ferreira, co-founder of Lightning Labs, and André Neves of ZEBEDEE will serve as executive director and director of partnerships, respectively, of the foundation. Vinteum's mission is to train and fund open source developers in Brazil and Latin America to work on Bitcoin and the Lightning Network, an area that has become critical in recent years as Bitcoin matures beyond amateur use cases.

important economic developments

▌Fed Evans: The federal funds rate is expected to be in the range of 3.75%-4% by the end of 2023

Fed Evans said he expects the federal funds rate to be in a range of 3.75%-4% by the end of 2023. We're in a good position on interest rates to shift to a more restrictive stance if needed, or not raise rates as much.

▌Fed Kashkari: The idea of cutting interest rates early next year is "unrealistic".

The Fed's Kashkari said the idea of a rate cut early next year is "unrealistic." A more realistic approach would be to raise interest rates until inflation falls to 2%. Fed rates are expected to hit 3.9% by the end of (this year) and 4.4% by the end of 2023.