Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. Solana to open IRL Web3 &#39;embassy&#39;</h2>Solana and the Solana Foundation will launch a Solana-themed store, Solana Spaces, in New York City.The store is designed to be a &#34;cultural center&#34; and &#34;embassy&#34; for Solana. It will provide consumers with an interactive art installation and Solana-branded merch for sale.Solana has been going the brick-and-mortar route. It recently announced plans to create and launch its own Android smartphone.Source: <a href="https://decrypt.co/106088/solana-spaces-irl-store-web3-embassy-new-york" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-1">#2. Fed hikes US interest rate again</h2>The US Fed has raised interest rates by 0.75 percentage points again in an attempt to curb inflation.This follows a similar hike in June. The raise will keep pressure on markets, including crypto.Bitcoin’s price rose 3.6% in the hour after the decision. Fed Chair Powell said that another unusually large interest-rate increase will depend on incoming data.Source: <a href="https://www.coindesk.com/markets/2022/07/27/federal-reserve-hikes-us-interest-rate-by-075-percentage-point/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-2">#3. IMF warns of stablecoin failures</h2>Tobias Adrian, director of monetary and capital markets for the IMF, said that there could be further failures of some coin offerings, especially algorithmic stablecoins.There are also “some vulnerabilities” for certain fiat-backed stablecoins. He referenced Tether, which he claims is not “backed one to one” with the US Dollar.Adrian said that stablecoins need a “global regulatory approach” to better protect investors.Source: <a href="https://cointelegraph.com/news/pain-ahead-for-algorithmic-and-non-cash-backed-stablecoins-imf-director" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-3">#4. Harmony proposes hard fork to pay victims</h2>Harmony’s core team has proposed a hard fork to mint billions of new harmony (ONE) tokens.The new tokens will be used to reimburse victims of its $100 million bridge exploit in June.The team decided against spending treasury funds for reimbursement, saying that it wanted to protect those assets for growth and ecosystem plans.Source: <a href="https://www.theblock.co/post/159864/harmony-proposes-minting-billions-of-one-tokens-to-pay-back-hack-victims" rel="noopener noreferrer nofollow">The Block</a><h2 id="header-4">#5. Tether clarifies its holdings again</h2>Tether has reiterated that it holds no exposure to Chinese commercial paper, describing rumours that it does as &#34;false information&#34;.Following the announcement, the CTO of Tether and crypto exchange Bitfinex, Paolo Ardoino, accused crypto media CoinDesk of spreading FUD about Tether.CoinDesk is owned by Digital Currency Group, which is invested in Tether’s main rival, Circle—the issuer of the industry’s second-largest stablecoin, USDC.Source: <a href="https://cryptobriefing.com/tether-shares-another-rebuttal-denies-chinese-commercial-paper-holdings/" rel="noopener noreferrer nofollow">Crypto Briefing</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a>

Crypto News of the Day: Solana to launch physical Web3 store, Tether accuses CoinDesk of FUD

Table of Contents

APX

Other articles published on Jul 28, 2022

DEFI WARRIOR INTO METAVERSE

iStep Airdrop Event Distributed

FITN Refund

Nest token is listed on the Coinbase Exchange

POPK's mainnet from ERC-20 to Polygon chain

WOO X has integrated with Ramp — allowing support for more fiat-to-crypto payments

Join our free newsletter for daily crypto updates!