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PitchBook: Venture Capitalists Shifting Away from Crypto Startups
AI startups retain their status as venture capital favorites, while the cryptocurrency sector faces a waning interest. Recognized as one of the most over-invested market segments, the crypto industry's outlook is becoming increasingly cautious, as highlighted in PitchBook's recent VC Tech Survey. 
APR and APY: How to Calculate Interest Rates?
Before you venture into the DeFi world, it's smart to get a grip on the terms that underlie yield calculations. The key concepts you need to master are the Annual Percentage Rate (APR) and the Annual Percentage Yield (APY). What's the difference between the two? 
The Ergo project recently reported that, in response to a request to update the data on the circulating supply of their tokens on CoinMarketCap (CMC), they were asked to pay $5000. This request came despite the expectation that CMC, as a service, should have a vested interest in providing accurate information. 
The likelihood is high, at 99%, that the interest rate will stay the same. This is because the Federal Reserve is still gauging the effect of the current rate on the economy.
Following the decision, there will be a press conference by Jerome Powell 30 minutes later. Given the potential for market shifts from his remarks, traders are advised to hold off on transactions. 
U.K. House of Commons Treasury Committee lawmakers, in its recent report, have urged the government to reconsider the regulations for a potential Central Bank Digital Currency (CBDC). Proposed changes include setting a lower limit on individual holdings (up to £3,000) and the option to earn interest on these holdings. 
According to the Federal Reserve's investigation, Silvergate Bank faced significant challenges due to its exposure to high-risk cryptocurrency deposits and ineffective upper-level management. A significant portion of the bank's deposits were sourced from crypto companies, which lacked traditional insurance and failed to generate substantial interest income. Coinbase Steps Back from FTX Europe Acquisition
After the bankruptcy of FTX in 2022, Coinbase expressed interest in acquiring its subsidiary, FTX Europe, with the intention of bolstering their global cryptocurrency derivatives footprint. This consideration was rekindled in September 2023, as reported by Fortune. 
The U.S. Federal Reserve's instant payment system, FedNow, has highlighted Dropp, a micropayments platform built on Hedera Hashgraph, in its Service Provider Showcase.
This section connects financial institutions with providers that can assist in implementing instant payment products using FedNow. Dropp offers a digital solution for merchants to accept payments at reduced costs, leveraging DLT and banking tech.
While this suggests the Federal Reserve's growing interest in DLTs, FedNow clarifies that the showcase is merely for convenience and doesn't imply endorsement.