Crypto News
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A Ukrainian national was sentenced today to 13 years and seven months in prison and ordered to pay over $16 million in restitution for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments. “As this sentencing shows, the Justice Department is working with our international partners and using all tools at our ...
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US Financial Services Committee Chair Patrick McHenry slammed Securities and Exchange Commission (SEC) Chairman Gary Gensler for his stand on Ethereum (ETH). McHenry issued a statement on Tuesday saying there is evidence that shows Gensler “knowingly misled” the Congress on Ethereum’s status. With the Ethereum Spot ETF application deadline drawing close, ...
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On Saturday, January 3, 2009, Bitcoin was born. With the creation of the very first Bitcoin block—known as the 'Genesis Block'—the first set of 50 BTC was mined into existence. This genesis block is considered the start of the Bitcoin blockchain—and the beginning of the cryptocurrency revolution. Many would argue that the day it was minted represents ...
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post: FED'S POWELL: IF INFLATION PROVES MORE PERSISTENT AND LABOR MARKET REMAINS STRONG, THEN IT COULD BE APPROPRIATE TO HOLD OFF ON RATE CUTS. post: POWELL: AN UNEXPECTED WEAKENING IN LABOR MARKET COULD SPUR RATE CUTS post: POWELL: INCOMING INFLATION DATA WILL BE AT THE VERY HEART OF THAT DECISION post: FED'S POWELL Q&A: IF INFLATION JUST MOVES 'SIDEWAYS' THEN WOULD 'HOLD OFF' ON RATE CUTS; BUT COULD MOVE OTHER WAY; ALSO ECONOMY COULD WEAKEN AND THAT COULD INFLUENCE POLICY #Powell #FOMC #FederalReserve #rates #economy post: FED'S POWELL: THERE'S NOT AN OBVIOUS CONNECTION BETWEEN EASING IN FINANCIAL CONDITIONS AND INFLATION.
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Bitcoin (BTC) price flush crashed on Wednesday, losing the $60,000 threshold. The dump saw millions in positions liquidated ahead of the FOMC. Bitcoin price has crashed 6% in the past 24 hours to trade for $57,495 as of press time. The dump that saw BTC slip below the pool of liquidity between $60,600 and $59,005 has caused over $230 million in total crypto ...
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A Ukrainian national was sentenced today to 13 years and seven months in prison and ordered to pay over $16 million in restitution for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments. “As this sentencing shows, the Justice Department is working with our international partners and using all tools at our ...
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The Federal Reserve left its policy rate unchanged and argued its policy stance is “in a good place”, but officials are concerned about the recent lack of progress on inflation. ...
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The May FOMC meeting brought little by way of surprises – rates unchanged, guidance unchanged, albeit with a marginally quicker QT taper than some had expected. Clearly, the next ...
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The FOMC smartly executed an overall set of communications that struck a balance between ruling out nearer term easing, sticking to the line that the most likely next move is ...
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Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $60 billion to $25 billion. The Committee will maintain the monthly redemption cap on agency debt and agency mortgage‑backed securities at $35 billion and will reinvest any principal payments in excess of this cap into Treasury securities. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation e post: FOMC STATEMENT COMPARE pic.twitter.com/eNQfsvqMI8 post: FED VOTE IN FAVOR OF POLICY WAS UNANIMOUS. post: *FED HOLDS BENCHMARK RATE IN 5.25%-5.5% TARGET RANGE *FED: LACK OF FURTHER PROGRESS TOWARD 2% GOAL IN RECENT MONTHS post: THE FED DOES NOT EXPECT IT WILL BE APPROPRIATE TO CUT RATES UNTIL IT HAS GAINED GREATER CONFIDENCE INFLATION IS MOVING SUSTAINABLY TOWARD 2%.
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post: FED'S POWELL: A RISE IN UNEMPLOYMENT WOULD HAVE TO BE MEANINGFUL FOR US TO REACT. post: Powell: "A couple tenths" of an increase in the unemployment rate doesn't count as an "unexpected weakening" in the labor market that would justify cuts.
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Available as: PDF Good afternoon. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report. In April, we maintained our policy interest rate at 5% and published a revised outlook for the Canadian economy. We had three key messages. First, monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year. Second, growth in the economy looks to be picking up. We expect GDP growth to be solid this year and to strengthen further in 2025. Third, as we consider how much longer to hold the policy rate at the current level, we’re looking for evidence that the recent further easing in underlying inflation will be sustained. Before taking your questions, let me take a moment to discuss recent economic data and the outlook for growth and inflation. In Canada, growth stalled in the second half of last year and the economy moved into excess supply. The labour market also cooled from very overheated levels. With employment growing more slowly than the working-age population, the unemployment rate has risen gradually over the last year to 6.1% in March. There are also some signs that wage pressures are beginning to ease. Economic growth is forecast to strengthen in 2024. Strong population growth is increasing consumer demand as well as the supply of workers, and spending by households is forecast to recover through the year. Spending by governments also contributes to growth, and US strength supports Canadian exports. Overall, we forecast GDP growth in Canada of 1.5% this year and about 2% in 2025 and 2026. The strengthening economy will gradually absorb excess supply through 2025 and into 2026. CPI inflation was 2.9% in March, and price increases are now slowing across most major categories. However, shelter cost inflation is still very high and remains the biggest contribution to overall inflation. Looking ahead, we expect core inflation to cont post: BOC'S GOV. MACKLEM: MONETARY POLICY IS WORKING. post: BOC'S GOV. MACKLEM: GROWTH IN THE ECONOMY LOOKS TO BE PICKING UP. post: BOC'S GOV. MACKLEM: WE ARE GETTING CLOSER TO BEING ABLE TO CUT RATES.
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Bitcoin (BTC) declined by 3.65% on Wednesday (May 1). Following a 5.02% slide on Tuesday (April 30), BTC ended the session at $58,917. Significantly, BTC last closed out a session at sub-$60,000 on February 27. The FOMC interest rate decision and press conference delivered a choppy end to a negative bitcoin session. US BTC-spot ETF market flow trends for ...
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Bitcoin (BTC) price flush crashed on Wednesday, losing the $60,000 threshold. The dump saw millions in positions liquidated ahead of the FOMC. Bitcoin price has crashed 6% in the past 24 hours to trade for $57,495 as of press time. The dump that saw BTC slip below the pool of liquidity between $60,600 and $59,005 has caused over $230 million in total crypto ...
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Tether Holdings Ltd., the British Virgin Islands-incorporated operator of the largest stablecoin, said it posted record net profit of $4.52 billion in the first quarter, largely driven by interest earned from its holdings of US Treasuries and appreciation in Bitcoin and gold. The market value of Tether’s USDT token has climbed to above $110 billion, as the ...