• Republican Congressman Tom Emmer has proposed a bill to ban the Federal Reserve (Fed) from issuing a Central Bank Digital Currency (CBDC).
• The aim of the proposed bill is to protect the financial privacy of American citizens by preventing the Fed from creating a CBDC without prior review and approval from Congress.
• Rep. Emmer argued that creating a CBDC could negatively impact financial privacy and individual freedom, as it may be used by authorities and regulatory entities to track and control citizens’ spending.

Republican Congressman Tom Emmer Introduces Bill

Rep. Tom Emmer (R-Minn.) has introduced a bill in the US House of Representatives to ban the Federal Reserve (Fed) from issuing a central bank digital currency (CBDC). The “CBDC Anti-Surveillance State Act” aims to protect the financial privacy of American citizens by prohibiting the creation of a CBDC without prior review and approval from Congress.

Impact on Financial Privacy & Individual Freedom

Emmer believes that creating a CBDC could have negative implications for financial privacy and individual freedom, as authorities and regulatory entities could use it as a tool to track and control citizens’ spending. He further explained that his proposed bill prohibits the Fed from issuing such currency directly to anyone, prevents it from using it as an instrument for monetary policy or economic control, and sets up more transparency on such projects.

Supporting Technological Innovation

Despite his opposition towards creating such currency, Rep. Emmer maintained that he is not against technological innovation that may come with its creation. He stressed that these innovations should not infringe on citizens’ rights in any way or form.

Opposition From Other Legislators

The congressman’s proposal has received some opposition from other legislators who have argued against banning technology before understanding it fully or its potential use cases in society at large. They believe that this could stifle innovation in this sector which would be detrimental for America’s future economy if allowed to take place unchecked.

Conclusion

In conclusion, although there is some opposition against Rep. Emmer’s idea, he still believes that protecting individuals’ right to financial privacy should come first before anything else when considering government policies related to money or technology related topics in general.

• Bitcoin’s price has recently skyrocketed to $25K as bulls take control of the market.
• Technical analysis is showing that a breakout above the $25K level is likely, with potential targets at $30K.
• However, caution should be taken as the RSI is currently in overbought territory.

Bitcoin Price Analysis

Bitcoin’s price has recently exploded following a consolidation and pullback phase, and it is now testing a key resistance level at $25K. Technical analysis suggests that a breakout above this level is highly probable, as momentum is currently very bullish and the 50-day moving average has crossed the 200-day moving average to the upside. The next target for Bitcoin would then be around the $30K area.

Daily Chart

On the daily timeframe, there appears to be strong bullish momentum behind Bitcoin’s price action at present, making a break above the $25K resistance level more likely. In addition, recent movement of the 50-day moving average crossing over the 200-day moving average also suggests that further positive continuation may occur in this direction.

4-Hour Chart

The 4-hour chart shows that Bitcoin has been rapidly increasing after breaking back above the $22,500 mark and brushing against its current resistance level of $25K. But while momentum appears to be strongly in favor of an upwards breakout from here, caution should still be taken as the RSI indicator is deep into overbought territory.

Conclusion

Overall, technical analysis on both short and long timeframes suggest a high probability for Bitcoin’s price continuing upwards towards its next target of around $30K in coming weeks. However, traders should keep an eye on indicators such as RSI which could signal bearish retracements before this happens.

Disclaimer

This article does not constitute financial advice and investors are advised to do their own research when making investment decisions.

• Tether Holdings Limited reported a net profit of approximately $700 million in Q4 2022.
• The company finished the year with excess reserves of $960 million and consolidated total assets of around $67 billion.
• Despite the bear market, Tether’s net profits increased by over $700 million in Q4.

Tether Generated Over $700 Million in Profits in Q4, 2022

Tether Holdings Limited – the company behind the largest stablecoin USDT – revealed a net profit of around $700 million in the fourth quarter of 2022. It ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets.

Resilience During Bear Market

Even though 2022 devastated the entire cryptocurrency sector, Tether’s net profits increased by over $700 million in Q4. It reduced its secured loans by $300 million and revealed a direct exposure of over 58% to US Treasury Bills. The data further showed that the firm finished last year with zero commercial paper and excess reserves of $960 million. Its consolidated total assets stand at $67 billion, while total liabilities equal $66 billion (almost 100% of the amount relates to issued tokens).

Ambition for Transparency

Chief Technology Officer Paolo Ardoino argued that the recent report doubles down on Tether’s ambition to “lead the industry in transparency.” He claimed the company had proven its “stability and resilience” amid a turbulent year that saw numerous bankruptcies and black swan events.

21 Billion Redemptions Executed Smoothly

Not only were they able to execute over 21 billion dollars worth of redemptions during chaotic times but also issued more than 10 billion USDT indicating continued organizational trustworthiness among investors.

Conclusion

Overall, this report shows how resilient Tether is despite turbulent markets and continues to prove their ambitions for transparency within crypto markets.

• Peer Inc. has acquired the engineering team behind Zenly’s popular 3D maps.
• The team, known as “Wonka”, developed Zenly’s social maps platform which had 160 million downloads and 35 million daily users in 2022.
• The acquisition will allow Peer Inc. to fast-track the development of its AI-powered 3D maps.

Peer Inc. has announced the acquisition of a highly-skilled engineering team from Zenly to help them develop their AI-powered 3D maps. The team, known as “Wonka”, was responsible for developing Zenly’s popular 3D social maps platform that had an impressive 160 million downloads and 35 million daily active users in 2022.

The acquisition of the Wonka team is a major milestone for Peer Inc. that will help them fast-track the development of their 3D maps. Tony Tran, the Founder and CEO of Peer Inc. expressed his enthusiasm for the acquisition and mentioned his admiration for the polished and delightful features of Zenly’s platform. He expressed his hopes that the team will bring the same level of success to Peer Inc.

The Wonka team brings with it a wealth of knowledge and experience in the development of 3D maps. The team consists of experienced engineers and designers who have worked on a variety of projects. They have extensive experience in developing 3D mapping solutions, from augmented reality and virtual reality to interactive 3D models.

The acquisition is a major step forward for Peer Inc. that will help them to create a more immersive and engaging experience for their users. With the help of the Wonka team, the company will be able to bring their AI-powered 3D maps to life faster and with greater accuracy.

The team will also be able to leverage their expertise to create more engaging and interactive features for their maps. This could include features such as virtual tours, interactive 3D models, and augmented reality experiences.

Ultimately, the acquisition of the Wonka team will be a major boon for Peer Inc. and their 3D maps. With their expertise, the company is sure to create an even more engaging and immersive experience for their users.