First Mover Asia: DeFi’s Resilience During the Market Slowdown; Bitcoin Slumps Near $20K

“Later this year, we’ll begin sunsetting Coinbase Pro to migrate all advanced trading into one unified Coinbase account, bringing customers access to popular features like staking, Borrow, dapp wallet, and Coinbase Card from a single platform balance.” (Coinbase blog post) … “Over the last few years, we have seen other governments make real progress in establishing a central bank digital currency. The longer the United States government waits to embrace this innovation, the further we fall behind both foreign governments and the private sector. It is time for Congress to consider and move forward with legislation that would authorize a U.S. CBDC. I hope that this white paper will contribute meaningfully to that dialogue.” (U.S. Rep. Jim Himes proposal for a USDC) … “Central-bank officials have made rising yields an explicit policy goal. Higher yields translate to higher borrowing costs for businesses and consumers, which should eventually lead to less borrowing, reduced spending and a slower rise in consumer prices.” (The Wall Street Journal) …