According to Glassnode data, the amount of BTC that exited the exchanges in June reached the highest level in history. The statement said that 151,000 BTC were withdrawn from crypto exchanges. This will help us to conclude that people decide to hide the Bitcoin they buy at these levels by taking it out of the exchanges and that the selling pressure may be reduced.
Blockchain Support from the Italian Government
The Italian Ministry of Economic Development has announced that it will support the work on blockchain technologies. Current blockchain projects could be applied for government support of up to $46 million. Minister Giancarlo Giorgetti said that they are preparing this package with the aim of promoting the modernization of increasingly efficient, safe and rapid management models.
Stablecoin Review at Fed Conference
In the note released at the Fed conference, he said that CDBCs do not pose a threat to the US dollar globally and that they expect that they will not have a significant impact, but that stablecoins can be considered and increased as the dominant reserve unit of the USD's global role. It was announced that these issues were evaluated at the conference on the International Roles of the US dollar held on June 16-17.
Bank of England calls for regulation
The Bank of England, in its Financial Stability Report released this week, called for strict financial regulations, pointing to the collapses in cryptocurrencies. Citing liquidation imbalances, heavily leveraged transactions and the Terra crisis as examples, he said it could lead to major problems if regulation did not take place.
Significant Decline in Bank of America Users
According to the shared data of Bank of America, one of America's largest banks, crypto money announced that it lost its investors by 50%. It's also the worst level in 10 years. In November 2021, it was announced that the number of users exceeding 1 million fell below 500,000.
Traditional Finance Initiative by MakerDAO
MakerDAO brings a traditional bank to its ecosystem. The bank will be able to borrow money in exchange for its assets by taking advantage of the DeFi system. The voting on this development is still ongoing. In the vote that concludes tomorrow, 83% of voters support the proposal. This development will meet Maker's bank standards and distribute real-world loans through the bank to be truly cooperated.
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