Day: January 9, 2023

Top 5 Crypto To Watch As CPI Data Is Released This Week

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The crypto market has been very bullish in the past week as the turn of the year sparked positive investor sentiment for the industry, especially to our top 5 crypto to watch this week. Since January 1st, the total market cap of crypto rose by 8.25% which shows a complete reversal of investor sentiment on the market.  As market optimism grows for an economic soft landing, crypto is poised for a recovery after a year of complete disaster. The market was devastated after multiple high-profile collapses, leaving investors as the…

Signature Bank Downgraded at Jefferies Due to Shrinking Crypto Business

Shrinking crypto deposits by $8 billion to $10 billion and replacing them with wholesale borrowings costing around 4.25% will drive a significant reset in net interest margin in the coming quarters, said Usdin. While management plans to pay down some borrowings with core deposit growth, it will take some time for the bank’s other businesses to generate that growth, according to his report. Source

Ethereum Volatility Drops To Level Seen Only Thrice Before

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On-chain data shows that Ethereum realized volatility has now declined to rare levels observed only three times before in history. Ethereum 1-Month Realized Volatility Has Plummeted To Just 39.8% As per data from the on-chain analytics firm Glassnode, the month of December 2022 was historically quiet for both Ethereum and Bitcoin. The “realized volatility” is an indicator that measures the standard deviation of daily returns from the mean for the market in question. The indicator is usually taken over a rolling window, with the one-week and one-month versions being generally…

Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes – Bitcoin News

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The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate are intended to move toward this goal. However, Zoltan Pozsar, a U.S. macroeconomist and observer of the Fed, predicts that the central bank will start quantitative easing (QE) again by summer. Bill Baruch, an executive at Blue…

Belgian MP receives Bitcoin salary for a year: Here’s what he learned

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At the end of January 2022, member of the Belgian parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin (BTC). Celebrating the anniversary of this experiment, Cointelegraph reached out to a lawmaker to know more about his experience.  Back in 2022, Beukelaer, who represents Humanist Democratic Centre (CDH) party, cited the example of New York City Mayor Eric Adams and how American politicians are working to make their native states or cities Bitcoin hubs to justify his decision. The Brussels MP’s monthly salary of…

Crypto layoffs mount as exchanges continue to be ravaged by the prevailing bear market.

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There’s no denying that the crypto market has been gripped by immense bearish pressure over the past year, as made evident by the fact that the total capitalization of this sector has continued to hover below the $900 billion mark for most of the year after having scaled up to an all-time high of $3 trillion in 2021. These conditions have been characterized by many companies facing insolvency, as well as many of the world’s top exchanges laying off their staff in recent months. Moreover, the recent FTX debacle has…

US DOJ announces seizure of 55M Robinhood shares

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The United States Department of Justice has officially notified the court handling the bankruptcy of BlockFi that it has seized assets as part of the criminal cases against crypto exchange FTX and its executives. In a Jan. 6 court filing, the Justice Department said it had seized 55,273,469 shares of Robinhood to which former FTX CEO Sam Bankman-Fried, BlockFi, and FTX creditor Yonathan Ben Shimon had previously made claims — the stock was worth more than $450 million at the time of publication. The DOJ noted it had also taken…

Rolls-Royce 2022 Sales Surge to 118-Year Record High

Sales of Rolls-Royce luxury cars for 2022 surpassed 6,000 units, trumping 2021’s commendable feat of 5,586.  Rolls-Royce recently revealed record annual sales and a strong order book spearheaded by buyers from the Middle East in 2022. According to the luxury automobile maker, it sold 6,021 cars last year for the first time in its 118-year history. This remarkable feat also represents a sizable 8% rise in sales volume from the 5,586 vehicles sold in 2021. It is worth noting that 2021 was also a record year for Rolls-Royce in terms of sales…