Coinlive Morning Post - August 8

headlines

▌U.S. Senate passes $430 billion inflation-cutting bill

The U.S. Senate passed a $430 billion inflation reduction bill. U.S. President Joe Biden said that the House of Representatives should pass the bill as soon as possible and look forward to signing it into law. The US Senate passed the Democrats' inflation-cutting bill, and the US Senate passed a landmark tax, climate and healthcare bill (the Inflation Cutting Act). The vote on the bill was 51 Democrats in favor and 50 Republicans against, with US Vice President Harris delivering a deadlock-breaking vote. The bill is now before the House of Representatives and is expected to pass on Friday.

policy

▌Nepal has drafted the necessary amendments to prepare for the issuance of CBDC

Nepal has drafted the necessary amendments to issue a central bank digital currency (CBDC). A working group in Nepal has proposed legal changes to allow the country's central bank to issue its own digital currency, a move after a study showed such a move was feasible and recommended certain provisions empowering regulators to proceed . The Central Bank of Nepal intends to design a separate digital wallet for CBDC through which digital transactions can be conducted. Steps will also be taken to explore interoperability with digital payment service providers.

cryptocurrency

▌President of the Central African Republic: Support Bitcoin to be used nationwide

The president of the Central African Republic has expressed support for the use of bitcoin nationwide, according to a tweet by bitcoin analyst Bitcoin Archive.

▌Morgan Stanley job posting reflects wide-ranging cryptocurrency plans

Morgan Stanley is hiring a product development manager for the firm's Investment Solutions product development team, which supports more than $900 billion in assets under management. Financial giant Morgan Stanley is hiring a product development manager who will be responsible for building a wide range of new cryptocurrency products across business lines, according to a job listing posted on LinkedIn by financial giant Morgan Stanley. The position, posted on August 1, will join the Investment Solutions product development team, which provides a wide range of services and support. Specifically, the recruited product managers will be primarily responsible for creating packaged products and indices. The job ad suggests Morgan Stanley is taking cryptocurrencies more seriously after launching a private passive fund in March 2021 and wants to significantly increase its product offering.

▌Cryptocurrency investors are refocusing on the stock market as a way to judge whether the worst is over

After a bout of volatility and existential anxiety, digital asset investors are once again looking to sentiment in U.S. stocks as a gauge of whether the worst is over. Bloomberg Intelligence analyst Mike McGlone said that "if the stock market has bottomed out," cryptocurrencies would do better. "In the market, there is nothing more powerful than the rapid decline in the stock market in the first half of the year.

▌AutoCoinCars COO: Sales of luxury car purchases using cryptocurrencies doubled to $12 million in the past year

Lamborghini Chief Executive Stephan Winkelmann said the company was still facing a surge in demand, leading to an 18-month backlog. Initially, the backlog was a 12-month delay due to supply chain constraints, while recent demand has been lined up to 2023, Financial Review reported. Despite the current economic uncertainty, Lamborghini posted its highest ever six-month profit driven by demand. In the first half of 2022, Lamborghini's global deliveries surged to 5,090 vehicles, an increase of 4.9%.

important economic developments

▌The probability of the Federal Reserve raising interest rates by 75 basis points in September is 68%

According to CME "Fed Watch", the probability of the Fed raising interest rates by 50 basis points by September is 32%, and the probability of raising interest rates by 75 basis points is 68%; the probability of raising interest rates by 75 basis points by November is 18%. The probability of an interest rate of 100 basis points is 52.3%, and the probability of a cumulative rate hike of 125 basis points is 29.7%.

▌Pelosi, Speaker of the US House of Representatives: Will reconvene the meeting and send the inflation reduction bill to Biden's desk

The Speaker of the US House of Representatives, Pelosi, said the US House of Representatives will reconvene and act quickly to send an inflation-cutting bill to Biden's desk. Earlier news, the US Senate passed a $430 billion inflation reduction bill.