Crypto Daily Roundup 20 sep:Will the Fed Hit the Brakes on Rate Hikes?
Crypto with the highest price increases in the past 24 hours
TOP 5 Gainers
| Indices | LTP | Change (%) |
|---|---|---|
| XDC Network | $0.05585 | $6.62% |
| Flare | $0.01178 | 6.26% |
| Conflux | $0.1277 | 4.19% |
| Arweave | $4.40 | 3.73% |
| Toncoin | $2.52 | 3.39% |
Crypto News Key Highlights:
Mark Scott, the attorney connected to the alleged laundering of $400 million from the OneCoin scheme, was denied a retrial, even in the face of false testimony from a witness. Scott maintained his innocence, asserting that he had no knowledge of the fraud. However, the presiding judge remained unconvinced. Given the OneCoin scandal's intricate nature as a cryptocurrency pyramid scheme, Scott's legal team is now actively pursuing an appeal.
The U.S. DOJ requests a trial date extension for FTX co-founder Sam Bankman-Fried, citing the need for more days in the first week for witness hearings and trial efficiency. The defense opposes the request. Bankman-Fried is seeking release ahead of trial, with arguments presented to an appeals panel. FTX is also pursuing legal action against his parents for fund recovery.
The Federal Open Market Committee's September meeting is expected to keep interest rates steady. Economists anticipate a focus on the Summary of Economic Projections, suggesting the potential for another rate hike in late 2023 and interest-rate projections for 2024 to signal a longer period of higher rates. Economic outlook improvements and revised GDP and unemployment-rate forecasts are also expected.
Crypto influencer Ben Armstrong alleges receiving death threats from Hit Network after filing a lawsuit against them. He claims the company took control of his company, BitBoy Crypto. Armstrong has asked followers to donate to his legal fund, receiving over $40,000 in contributions. Hit Network rebranded BitBoy Crypto as "Discover Crypto" amid the legal dispute.
Injective has launched inEVM, the first Ethereum Virtual Machine (EVM) capable of achieving true composability across Cosmos and Solana. Developed in collaboration with Caldera, it offers Ethereum developers access to Injective's global network and customer base, facilitating rapid development and inter-compatibility with other networks.
Binance CEO, Changpeng 'CZ' Zhao, refutes allegations of Binance US's connection with Ceffu amid SEC scrutiny. The dispute centers on the SEC's request for information regarding customer asset handling at Binance.US, highlighting challenges in cryptocurrency regulatory oversight. A hearing is scheduled for October 12, aiming to address the issues.
U.S. House Representative Rudolph Yakym announces support for the anti-CBDC Bill introduced by House Majority Whip Tom Emmer. The CBDC Anti-Surveillance State Act aims to protect Americans' financial privacy and individual liberties, with concerns that CBDCs may compromise these rights. Emmer is known for his pro-crypto stance in Congress.
Central bank digital currencies (CBDCs) aim to blend cryptocurrency elements into fiat currency. They are promoted for financial inclusion and efficiency but face criticism for privacy concerns and the potential to destabilize the economy. CBDCs may inadvertently accelerate Bitcoin adoption.
Also read - 24 Crypto, 19 Sep: Crypto flat before Federal Reserve rate decision
