FED THREATENS BITCOIN (XRP CAN'T Be Stopped!)
Japan is bullish on xrp and a house in kentucky was purchased with bitcoin. My name is ben. This is your nightly. Crypto news wrap up lets, get it twice a year. The fed releases, a financial stability report that highlights what factors in play could actually pose a risk to the stability of our economy, its the first name, they actually timed well in a while considering the report covers how high inflation and stable coins could disrupt the financial System, you might already know that terra lunas, stablecoin ust lost its peg and, although it recovered over 40 percent from its fall to 66 cents, still not back to a dollar. This happened because the recent interest rate hike of 50 basis points caused bitcoin to rapidly fall. Consequently, the market panicked and the sell off caused ust to go below a dollar. The report points out. The stable coins are prone to runs, especially when high interest rates cause volatility. It also states stable coins, remain exposed to liquidity risks and the the assets backing the stable coins could lose value and become a liquid should be noted that they didnt directly point out ust. In the report. They mentioned that tether, usdc and binance usdc make up more than 80 percent of the stable coin market, but what the report warned did in fact happen to ust. This is just a report and nothing is set in stone, but if you want insight on what the fed is thinking in the report, a few pages underneath their concerns or stable coins theres an entire section with the header, central bank, digital currency and financial stability lets Hope the stable coins remain stable, but for a deeper look into volatile assets lets pass it off to frankie candles for a market watch thanks ben all right guys lets go ahead and do a little market watch.
Weve got bitcoin coming in at 30 955 dollars up about one percent on the day. Still down about 18 on the week, aetherium coming in at 23, 38 up about 3 for the day lets go ahead and check our top losers here, luna down 54 on the day 80 on the week, absolutely insane, gmt down 15, almost 16 down 44 on the Week, guys and tara usd im sure you guys know about this whole debacle down eight percent on the day 21 on the week, not every day, you see a stable coin on the top losers, like that down eight percent on the day, guys uh, but, as you Know we have been dumping, i do think we will get a bounce at some point. I dont know if were just there yet. I think we might have a tiny bit more room left to come down before we finally get a big bounce, but guys nothing goes down in a straight line. A relief bounce is imminent at some point. The question is: when will that be? If you guys want to follow me, its frankie candles on youtube or frankie underscore candles on all socials back to the news. Thanks, frank, japanese used car firm sbi motor japan is giving their customers the green light to pay for their vehicles using bitcoin and xrp zy. Crypto.Com points out this marks the very first time the xrp coin has been integrated into a cross border e commerce site in japan.
The story is the perfect example of everything ive been talking about for the past few months. Remember these words long term mindset, regardless of bearish price action, crypto remains to be globally adopted, not just out of convenience, but out of necessity. Sbi motors points out that 1.7 billion adults across the globe are unbanked. They see the writing on the wall and their front running the technology. The japanese car sales market. Bravo to them. Listen, crypto is filling a gap. The banks are unable to fill and the demand for cryptocurrencies to ripple across the oceans pun intended. This story shows that, no matter how long dirty gary ginsler delays his demise, the sec case is not stopping the global market from adopting xrp, no matter how bloody this bear market gets. Stories like this show that crypto is a train that cannot be stopped better. Get on it now, because the rest of the world will be aboard in the next 10 years, just like how crypto is being used to pay taxes across the globe and buy cars in japan, now cryptos being used to buy real estate in america in louisville kentucky The states largest city, two bedroom house, was purchased for roughly one bitcoin. According to finbold.com, the purchase took only about eight seconds to complete and cost 70 cents in transaction costs. To process to no surprise using crypto to purchase houses could be becoming a trend. Just a few days ago, a house in portugal was purchased for three bitcoin and the colorado news line just ran a story.
Titled is colorados housing market ready for crypto transactions. Satisfied, buyer of the kentucky property gladly stated im happy that i can help try and bring this technology to the future theres, so many uses for bitcoin and i think, were at the very very early stages of it. Itll be interesting to see where it goes. Couldnt have said it better myself. We are very early indeed thats.