Do Kwon's Bail Approved After Property Verified to Be 'Worth Millions'
Do Kwon will be released from Montenegro detention after his bail request of approximately $427,900 (€400,000) was accepted.nThis comes after the court verified his property to be "worth millions." Another reason why bail was considered is that, due to the nature of the case, the duration of the procedure is uncertain. Source Decrypt
Turkey 5-year CDS back to pre-election levels!
Market sentiment initially turned negative as the first-round results showed an unexpected rise in Erdogan's prospects for securing another presidential term. However, in a remarkable turnaround, Turkey's 5-year CDS has already returned to pre-election levels just days after Erdogan's re-election. The appointment of Mehmet Simsek as Minister of Treasury and Finance signals a positive shift towards a more conventional economic approach, bolstering market confidence post-election. Could this indicate a forthcoming adoption of a more conventional monetary policy strategy by the Turkish Central Bank? Source : Bloomberg
US debt ceiling, declining trust in banks send ETH staking to record highs
The number of staked Ether in May reached a new all-time high of 2.96 million ETH, approximately 2.46% of the total supply. The significant surge comes within a month of the Shapella, allowing validators to withdraw their staked ETH after two years. Many then believed the heavy unstaking of ETH could be a bearish event for the Ethereum network. However, an estimated less than 1% of all staked ETH was sold after Shapella. source: Cointelegraph
AML rules for digital assets to come into effect in UAE
Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The update will come into effect “within a month” by the end of June. According to the guidance, LFIs should submit a request to the central bank for non-objection to open accounts for each virtual asset providers (VASP) on a case-by-case basis. Any collaboration with VASPs without a national license is prohibited. Source Cointelegraph
McDonald’s retesting March breakout level
McDonald’s is approaching 282 support level. That was March’s breakout level. Keep an eye on it ! Source : Bloomberg
ECB Finalizes Digital Euro Prototypes as Development Decision Looms
The European Central Bank (ECB) has finalized prototypes for a digital euro as it prepares to take a decision later this year over whether to develop the EU's fiat currency in a new format, according to reports released on Friday. The ECB says its potential central bank digital currency (CBDC) can be designed to boost innovation – but appears more skeptical about using Web3-style distributed ledger technology and smart contracts. The EU is one of many jurisdictions across the world currently contemplating a CBDC – including near neighbors at the Bank of England. Source: Coindesk
Walt Disney is back again on support zone 85-90
Walt Disney (DIS US) is once again testing major support zone 85-90. This zone has been tested 10 times over the last 8 years. Will it rebound once again ? Source : Bloomberg
Falling inflation expectations could allow Norges Bank to hike further
In the medium term, we observe that the EUR/NOK direction tends to follow relative consumer confidence between the Euro-area and Norway. In the current economic context, this indicator is linked to inflation pessimism, and the recent positive inflection in Norway could signal the end of FX losses. In a survey published this week, households in Norway now expect inflation at 4% in one year, from 6% one quarter ago.
Falling inflation expectations could allow Norges Bank to hike further, and importantly, the revival of consumer confidence could eventually help NOK to recover.
Source: FxStreet & Société Générale
