A US Senate committee heard details of the investor's conversations with Sam Bankman Fried before the collapse.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Here is why Bitcoin price gave back all its intraday gains
On Dec. 14, Bitcoin (BTC) price hit a 1-month high and saw a brief resurgence in bullish momentum, but the Federal Reserve’s Federal Open Market Committee (FOMC) hawkish report and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659.
Stocks and Bitcoin started the day slightly up but quickly retracted on the FOMC report. To date, Bitcoin price remains closely correlated to equities and a majority of investors have concerns about the impact of further rate increases in the future.
BTC correlation to Dow Jones and S&P 500. TradingViewRising interest rates and hawkish talk from Powell impact BTC price
While the Consumer Price Index (CPI) report showed easing inflation at 7.1%, Powell still wants to reach 2% overall inflation. Inflation has been a determining factor in raising interest rates and the current 0.5% hike had consensus amongst FOMC participants. The Fed members also agree that rate hikes should continue in 2023.
FOMC survey for future interest rate hikes. Source: Federal ReserveDuring the Dec. 14 press conference, Powell stated:
“We may see higher rates for a longer period to achieve the 2% inflation goal”
Here is why Bitcoin price gave back all its intraday gains
BTC price retraced the entirety of its intraday gains after Fed chair Jerome Powell issued hawkish statements in relation to today’s 0.50% interest rate hike.
Here is why Bitcoin price gave back all its intraday gains
On Dec. 14, Bitcoin (BTC) price hit a 1-month high and saw a brief resurgence in bullish momentum, but the Federal Reserve’s Federal Open Market Committee (FOMC) hawkish report and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659.
Stocks and Bitcoin started the day slightly up but quickly retracted on the FOMC report. To date, Bitcoin price remains closely correlated to equities and a majority of investors have concerns about the impact of further rate increases in the future.
BTC correlation to Dow Jones and S&P 500. TradingViewRising interest rates and hawkish talk from Powell impact BTC price
While the Consumer Price Index (CPI) report showed easing inflation at 7.1%, Powell still wants to reach 2% overall inflation. Inflation has been a determining factor in raising interest rates and the current 0.5% hike had consensus amongst FOMC participants. The Fed members also agree that rate hikes should continue in 2023.
FOMC survey for future interest rate hikes. Source: Federal ReserveDuring the Dec. 14 press conference, Powell stated:
“We may see higher rates for a longer period to achieve the 2% inflation goal”
MetaMask to allow users to purchase and transfer Ethereum via PayPal
The service will initially be rolled out to select PayPal users within the United States.
Senate FTX hearing: calls for regulation and crypto criticisms aplenty
"Short of enacting draconian authoritarian policies, cryptocurrency cannot be stopped," said Senator Pat T
The Agenda podcast chats crypto and sex work with WetSpace CEO Allie Rae
Allie Rae of WetSpace joins Cointelegraph’s new podcast The Agenda to discuss how crypto and blockchain can empower adult content creators.
Anonymous crypto developers belong in prison — and will be there soon
Users are interested in knowing the identities of developers behind the games they play. And soon, lawmakers are likely to write such disclosures into law.
Crypto users claim Gemini email leak occurred much earlier than first reported
Alleged reports of compromised emails began appearing as early as October.
Sens. Warren and Marshall introduce new money-laundering legislation for crypto
The senators have created a harsh, sweeping bill to clean up crypto’s AML/KYC act that will benefit from further discussion in the next Congress.
Reaching the Bitcoin price bottom is a process, says The Wolf of All Streets, Scott Melker
“People love to point at a specific price in hindsight as the bottom of an asset, but bottoming is a process,” Melker says during the first episode of Crypto Trading Secrets.
Bitcoin traders await FOMC, Powell as BTC price hits new 1-month high
Bitcoin keeps up the gains with U.S. stocks with hours to go until a decision on rate hikes and comments from Fed Chair Powell.
Bitcoin traders await FOMC, Powell as BTC price hits new 1-month high
Bitcoin (BTC) set new one-month highs on the Dec. 14 Wall Street open on a day full of key events for the United States Federal Reserve.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin bullish with stocks into FOMC
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,126 on Bitstamp, beating the $18,106 high from the day prior.
U.S. stocks edged higher as markets eagerly awaited feedback from the Fed after the November Consumer Price Index print showed inflation slowing beyond expectations.
Dec. 14 was set to see a decision on rate hikes for the month from the Federal Open Market Committee (FOMC), together with a speech from Fed Chair Jerome Powell.
The latter event tends to spark considerable volatility, with pundits closely scrutinizing Powell’s language for hints about longer-term economic policy.
Comic-Con guru says storytelling is the key component for successful NFT projects
Kumite NFT founder Gareb Shamus chats with NFT Steez about how NFT projects can engage with their respective communities through storytelling.
Comic-Con guru says storytelling is the key component for successful NFT projects
NFT Steez, a new weekly Cointelegraph podcast exploring nonfungible tokens and Web3 projects, spoke to Comic-Con legend Gareb Shamus about how he has used storytelling to build engagement and a “maker world” that grows and strengthens communities.
What started off as a newsletter about comics — Shamus’ passion project — ultimately became known to the world as Wizard magazine. According to Shamus, Wizard was an outlet where he could “create a voice” and share with his friends the things he had discovered that excited him.
Shamus touched on the importance of building elements of engagement and not limiting creativity within communities to further “unite them around what they love.” More importantly, he explained how building engagement allowed him to reach billions of people around the world in a way that made it “fun to be a fan of culture.”
According to him, there’s a natural synergy between comics and NFTs.
“We need to promote storytelling”
When asked about the role storytelling will play in the Kumite NFT project, Shamus explained that Web3 allows for greater participation and engagement whereby multiple stories, from multiple points of view, can be told and expressed. Shamus described Kumite NFT as bringing the hero’s journey to holders, and in this way, “everyone can be a hero in their journey.”
Gemini allegedly suffers data breach; 5.7 million emails leaked
Users' emails, account numbers, and partial phone numbers were allegedly leaked.
Fonbnk’s Michael Kimani sorts out facts on crypto adoption in Africa
The first episode of Hashing It Out features Cointelegraph’s Elisha Owusu Akyaw (GhCryptoGuy) and Michael Kimani, Fonbnk’s co-founder and head of growth in Africa.
As DEXs struggle, new approaches kindle hope
Despite their popularity, DEXs have a number of drawbacks that may be preventing growth. A new approach, however, has offered a way forward.
Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency
Bitfarms has an initial period of 180 calendar days to have its shares trading above $1 for at least 10 days before June 12, 2023.
Alameda had ‘unfair’ trading advantage, special access to FTX funds: CFTC filing
CFTC court filing outlines a murky relationship between FTX and Alameda Research, highlighting the latter’s unfair trading advantage and misappropriation of user funds.