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EUR/USD consolidates recovery above 1.0650
EUR/USD extended the recovery from intraday monthly lows to the 1.0670 zone. It is holding firm above 1.0650 after the US Dollar lost momentum during the Asian session, primarily due to a retreat in US yields.
GBP/USD trims losses and rises to 1.2300
Boosted by a weaker US Dollar, the GBP/USD rebounded from six-month lows near 1.2230 and rose to the 1.2300 area. However, the Pound remains among the worst performers following the surprise dovish stance from the Bank of England.
Arbitrum receives 2.5 million ARB funding request from Wormhole foundation
Wormhole, a crypto and web3 messaging protocol, has submitted a proposal to encourage users to mint native USDC on the Arbitrum chain. The goal is to attract 100 million USDC and migrate it from other chains to Arbitrum.
Tether increased its secured loans in Q2 despite commitment to reduce lending
Tether Holdings has resumed the lending of its stablecoins in the form of secured loans to clients after announcing that it is set to wind down this practice less than a year ago. The information came to light in the firm’s recent quarterly financial update, according to a report by The Wall Street Journal.
XRP price recovery likely as Ripple executives call out SEC and Chair Gary Gensler for their stance on crypto
XRP price outlook is bullish as the asset tests the supply zone at $0.5174. Pro-XRP attorney John Deaton shared his views on the likelihood of a settlement by the SEC in its lawsuit against Ripple.