A curated weekly summary of forward-focused crypto news that matters. This week, high inflation rates in the US spook investors & make more interest rate rises likely, the Ethereum price drops post Merge, and a South Korean court issues an arrest warrant for Terra/Luna founder Do Kwon.
The Bitcoin price (BTC) finished the week down 8% and currently sits at just under US$20K. Ether’s (ETH) price plummeted by nearly 20% to ~US$1.4K despite the long-awaited “Merge”. Binance-coin (BNB) also fell by 6% to ~US$277.
On Tuesday of last week, the US Bureau of Labor Statistics released the August Consumer Price Index (CPI) numbers, revealing an overall 8.3% increase in price across a consumer basket of goods over the past 12 months. On August 26, Fed Chair Jerome Powell signaled a potentially “unusually large increase” in the federal funds rate “depend[ing] on the totality of the incoming data and the evolving outlook”. With current relatively low unemployment, the Fed may be in a...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...