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According to Foresight News, Ripple's Senior Vice President of Stablecoins, Jack McDonald, discussed the evolving role of stablecoins at the Consensus 2025 conference. He emphasized that stablecoins are transitioning from tools for cryptocurrency traders to becoming integral components of global finance, marking significant innovation in global payments. Ripple is advancing in this sector with RLUSD, a fully supported and regulated stablecoin.
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#BinancePizza According to Odaily, Tether has announced the upcoming launch of the QuantumVerse Automatic Computer (QVAC), a smart development platform designed for both humans and machines. This platform enables highly scalable AI applications and agents to operate directly on local devices, eliminating the need for centralized services and cloud infrastructure. This approach aims to protect users from corporate access to private user data. Tether is set to introduce its first AI applications based on QVAC, focusing on privacy protection and autonomous sovereignty. The initial applications include QVAC/Translate, which allows for rapid transcription and translation of text, documents, images, and audio directly on devices without relying on cloud services. Another application, QVAC/Health, is a private health tracker that fully localizes sensitive health data.
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#CryptoRegulation According to BlockBeats, Federal Reserve Chair Jerome Powell stated that officials agree on the need to reconsider strategies related to underemployment and average inflation rates. He refrained from commenting on future prospects or monetary policy, noting that April's Personal Consumption Expenditures (PCE) might be around 2.2%. Powell highlighted that the zero lower bound remains a risk that should be addressed within the framework, although it is no longer a primary concern given the current policy rate levels. Some Federal Reserve practices, such as focusing on inflation expectations, are considered permanent. The Federal Reserve is conducting a two-day review of the framework adopted in 2020, which must be adaptable to various scenarios, including a world where supply shocks may become more frequent and persistent.
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According to Foresight News, data from Glassnode indicates that Bitcoin's dominance reached a peak of 64.4% on May 8. Since then, Ethereum's dominance has increased to 9.75%, a rise of 3%, while altcoins have seen their dominance grow to 22.35%, up by 2%. Meanwhile, stablecoins have experienced a decline, dropping to 6.3%. Despite these changes, the dominance of Ethereum and altcoins remains below their previous peaks of 18% and 28.5%, respectively. This cycle continues to be driven primarily by Bitcoin. $BTC
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