Day: December 14, 2022

Binance ‘put FTX out of business’ — Kevin O’Leary

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The collapse of FTX was triggered by Binance, claimed investor Kevin O’Leary on Dec. 14 speaking at the United States Senate committee hearing about the crypto exchange meltdown. O’Leary, who was a paid spokesperson for FTX, provided details about conversations with Sam Bankman-Fried in the days before FTX filed for bankruptcy.  During his testimony, O’Leary said he had questioned SBF regarding how customer funds were used in the past 24 months and was told that almost $3 billion were used to repurchase shares of FTX owned by Binance. When asked…

Here is why Bitcoin price gave back all its intraday gains

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On Dec. 14, Bitcoin (BTC) price hit a one-month high and saw a brief resurgence in bullish momentum, but a hawkish report by the Federal Reserve’s Federal Open Market Committee (FOMC)  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…

Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year – Bitcoin News

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The U.S. central bank’s Federal Open Market Committee (FOMC) convened on Wednesday and raised the federal funds rate by 50 basis points (bps). The 0.5 percentage point rise follows the four consecutive three-quarters of a point increases codified during the last few months. The FOMC’s rate hike follows the recent U.S. inflation report which indicated that consumer prices fell to 7.1%, which was lower than expectations. Fed Raises Federal Funds Rate by 50bps, Central Bank Expects More Increases Going Forward Following the consumer price index (CPI) report published on Tuesday,…

Bitcoin Volatility Explodes Around $18K Level, As Fed Reveals 50 Basis Point Rate Increase

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Bitcoin price touched a high of nearly $18,400 in anticipation of today’s Federal Reserve meeting, where the US central bank was expected to raise interest rates by 50 basis points. Volatility picked up as the Fed meeting commenced, with Bitcoin suffering a sudden pullback to $17,700. Here’s what you need to know about the last Fed meeting of the year.  No Pivot: Fed Hikes Rates 50 Basis Points All eyes were on today’s Fed meeting and if Fed Chair Jerome Powell would follow through and soften interest rate hikes from…

MetaMask to allow users to purchase and transfer Ethereum via PayPal

Digital payments platform PayPal has teamed up with MetaMask parent company ConsenSys to allow MetaMask users to purchase and transfer Ether (ETH) via PayPal’s platform. According to the Dec. 14 announcement, the service will initially be rolled out only to select PayPal users within the United States, as the country is one of MetaMask’s largest markets in terms of users.  Our US users will now be able to fund their wallet with ETH via @PayPal! Rolling out in the next weeks in the US, excl. Hawaii, through our mobile app (make sure…

Humans Care Foundation: Synergy of Charity and Crypto

Place/Date: – December 14th, 2022 at 8:44 pm UTC · 3 min read Source: Humans Care Foundation (HCF) Humans Care Foundation (HCF) is where charity meets blockchain industry within one advanced project. These two markets — charity and cryptocurrency — combined are worth over $5 trillion, and charities all over the world continually prove their value by delivering help to those in need. The reason this happens is because more and more people from the developed world understand that there are entire nations that are crippled by systemic issues and…