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X Plans Financial Offerings, Avalanche Looks to Boost Tokenized Assets

Jul 25, 2023
Market Update Risk assets have remained relatively stable before tomorrow's FOMC meeting and critical earnings releases scheduled after today's close (Microsoft/Alphabet). The S&P was up 0.38% at writing, while the Nasdaq gained 0.83%. Notably, Chinese markets experienced a significant rise as the country committed to implementing substantial changes to support the property market and enhance consumer demand. Hong Kong and mainland equities surged approximately 4.1% and 2.1%, respectively. $BTC is stabilizing after its early week sell-off, up 0.7% to trade at $29.2k. $ETH is trading at $1.86k, gaining 0.9% over the last day. Derbit's Bitcoin implied volatility index has reached its lowest level since its inception two years ago, indicating markets are not expecting any big near-term moves. Fed Futures are pricing a 98.9% probability of a rate hike tomorrow, but all eyes will be on chair Powell's 2:30 pm EST media appearance for clues on whether the Fed is done tightening.Elon Musk announced that his newly rebranded platform, X, will soon offer comprehensive financial services, aiming to become an all-encompassing app for users. After acquiring Twitter and renaming it to X, Musk revealed his plans to integrate banking, payments, and other financial features into the platform. The

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