Downfall

Fed officials believe a 50 or 75 basis point hike is likely at the FOMC meeting in July - Fed meeting minutes

Many FOMC participants saw a significant risk of entrenched inflation. Even more restrictive policies are possible in the future.

Participants at the June meeting agreed that the inflation outlook had worsened, requiring a 0.75% rate hike. To date, participants have seen little evidence that supply constraints are loosening enough to help control inflation.

Most participants saw downside risks to GDP growth, including the possibility that a Fed rate hike would have a greater impact than expected. The Fed expects inflation to remain above 2% for some time.

Hyundai has released a "copy" of the Tesla - Reuters

Hyundai Motor Co. on Thursday unveiled its first electric sedan, the Ioniq 6. The South Korean automaker expects the electric car to help it capture a larger share of the EV market, including poaching Tesla customers.

Bank of America has no plans to offer crypto services

BofA CEO Moynihan said that the company will not offer services related to cryptocurrency in the near future. However, he acknowledged the importance of digital payments in today's economy. According to Moynihan, the main obstacle to the crypto industry is regulatory problems. The SEC is suspicious of companies offering cryptocurrency

SEC Warns FTX Against Repaying Creditors in Cryptocurrency: A Detailed Analysis of the Legal and Financial Implications

The recent developments surrounding the now-defunct cryptocurrency exchange FTX have drawn significant attention, especially concerning the United States Securities and Exchange Commission's (SEC) warnings regarding the repayment of creditors in stablecoins and other cryptocurrencies. This issue brings to light the complexities and potential legal battles that could arise as FTX

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