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Home Crypto Recap

Weekly Crypto Market Update Reports (September 17th -23rd, 2022): Fed continues to be tough on inflation

September 23, 2022
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CFTC Chairman Strengthens Regulation Of Cryptocurrency Trading In 2023

New Exchange GTX Of 3AC Founders Completed The Fundraising Plan

It looks like the past week has been a volatile economic week affecting both the stock and crypto markets with the Fed continuing to raise interest rates. Let’s review the main news of the market with CoinCu this week.
Weekly Crypto Market Update Reports

Market figures for the week

The crypto market’s capitalization: The capitalization fell by about 6% to $932 billion over the week. On Monday and Wednesday, the indicator fell to $900 billion, as a result of the news about the U.S. Federal Reserve’s rate hike.

Trading activity dropped significantly: The indicator decreased by 15% to $500 billion. The weekly average was $71 billion. Marginal recovery was observed a week earlier amid the Ethereum Merge upgrade and probably due to positive developments in other crypto projects.

The Cryptocurrency Fear & Greed Index: The index dropped to 20 points the very next day after the Ethereum transition to PoS. Between 17th and 23rd September, the median value of the index stood at 22 points.

Interesting news of the week

President Of El Salvador, Believer In Bitcoin, Wants Re-Election

El Salvador’s president Nayib Bukele, who made bitcoin legal tender in the country last September, said he plans to run for another five-year presidential term in 2024. For more specific information, you can read the article below:

President Of El Salvador, Believer In Bitcoin, Wants Re-Election

ECB Announces 5 Partners To Help Develop CBDC

The European Central Bank (ECB) will work with five firms to create future digital euro user interfaces. For more specific information, you can read the article below:

ECB Announces 5 Partners To Help Develop CBDC

Do Kwon Says He Is Not ‘On The Run’ But Korean Prosecutors Say ‘Yes’

Prosecutors in South Korea have requested that Interpol issue a red notice against Do Kwon, the co-founder of the defunct cryptocurrency operator Terraform Labs, on the grounds that he is refusing to cooperate with an investigation into the $40 billion implosion of the TerraUSD and LUNA tokens. For more specific information, you can read the article below:

Do Kwon Says He Is Not ‘On The Run’ But Korean Prosecutors Say ‘Yes’

FCA Warns FTX For Providing Unauthorized Cryptocurrency Services

The Financial Conduct Authority (FCA), Britain’s main financial regulator, has issued a warning regarding cryptocurrency exchange FTX operating illegally in the United Kingdom. For more specific information, you can read the article below:

FCA Warns FTX For Providing Unauthorized Cryptocurrency Services

MicroStrategy Just Bought 301 More Bitcoins Worth About $6 Million

Investment firm MicroStrategy announced it has made its latest Bitcoin purchase of $6 million. For more specific information, you can read the article below:

MicroStrategy Just Bought 301 More Bitcoins Worth About $6 Million

Nasdaq Stock Exchange Opens Crypto Custody Service

According to a press statement issued on Tuesday, Nasdaq, the second-largest stock market operator in the United States, is launching a cryptocurrency custody service in order to capitalize on the demand from institutional crypto investors. For more specific information, you can read the article below:

Nasdaq Stock Exchange Opens Crypto Custody Service

JPMorgan CEO Jamie Dimon Calls Crypto Tokens As ‘Decentralized Ponzi Schemes’

JPMorgan Chase CEO Jamie Dimon alluded to himself as a significant critic of crypto tokens when speaking before US Congress, describing them as “decentralized Ponzi schemes.” For more specific information, you can read the article below:

JPMorgan CEO Jamie Dimon Calls Crypto Tokens As ‘Decentralized Ponzi Schemes’

Kraken CEO Jesse Powell Steps Down From His Position

Kraken CEO Jesse Powell steps down from his position. Powell stated that he is taking a step back from his CEO position. He stated that he wants to expand his attention to various other products of the firm and be an industry advocate. For more specific information, you can read the article below:

Kraken CEO Jesse Powell Steps Down From His Position

Russia Approves The Use Of Crypto For Cross-border Payments

The Central Bank of Russia and the country’s Ministry of Finance are said to have reached an agreement to enable cross-border payments in cryptocurrencies. For more specific information, you can read the article below:

Russia Approves The Use Of Crypto For Cross-border Payments

Iran To Launch CBDC Named ‘Crypto Rial’

According to Iran’s Chamber of Commerce, the Central Bank of Iran (CBI) has completed preparations to launch its digital currency on September 22. The “Crypto-Rial” digital currency will use blockchain technology to convert Iranian Rial banknotes into cryptocurrency. For more specific information, you can read the article below:

Iran To Launch CBDC Named ‘Crypto Rial’

Cardano Vasil Hard Fork Upgrade Successfully, First Blockchain Established

Cardano’s long-awaited Vasil hard fork upgrade has officially gone live. With the hard fork upgrade, Cardano will increase network capacity and transactions faster but with lower costs. Vasil also introduced enhancements to Plutus that allow developers to create more powerful dApps. For more specific information, you can read the article below:

Cardano Vasil Hard Fork Upgrade Successfully, First Blockchain Established

Fed Raises Interest Rates By 0.75% In Latest FOMC Meeting

The new interest rate adjustment announced by the US Federal Reserve (Fed) is 0.75%, unchanged compared to the previous 2 adjustments in June and July, in line with the forecast of the vast majority of investors experts, and markets. For more specific information, you can read the article below:

Fed Raises Interest Rates By 0.75% In Latest FOMC Meeting

Bitcoin is currently struggling below the $19,000 price zone as the Fed’s economic tightening signal has sent the US dollar back to its highs. Next week will be the last week of September, let’s wait for the September candle to not be too pessimistic to welcome more positive things in October. Follow CoinCu to follow market volatility news through daily and weekly news updates.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Website: coincu.com

Harold

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Tags: #BitcoinCardanoCBDCcryptodo kwonECBEl SalvadorEthereumFCAfedFTXhighlightsIranJPMorganKrakenmarketMicroStrategynasdaqRussiaVasil Hard Fork
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Contents

  • Market figures for the week
  • Interesting news of the week
  • Solana DeFi Everlend Finance Terminates Its App Due To Lack Of Money

    Solana DeFi Everlend Finance Terminates Its App Due To Lack Of Money

    138 shares
    Share 55 Tweet 35
  • Stronghold Digital Mining Posts Prospectus For Share Sale While It Works To Conserve Money

    117 shares
    Share 47 Tweet 29
  • Terra Classic Adopts New Proposal To “Re-Peg USTC With LUNC,” USTC Soars 30%

    110 shares
    Share 44 Tweet 28
  • Kraken Office In Abu Dhabi Is Now Closed, Affecting 8 Roles

    110 shares
    Share 44 Tweet 28
  • “Twitter Killer” Damus Reaches Top 10 Social Network Apps On App Store

    194 shares
    Share 78 Tweet 49
CFTC Chairman Strengthens Regulation Of Cryptocurrency Trading In 2023

CFTC Chairman Strengthens Regulation Of Cryptocurrency Trading In 2023

February 4, 2023
New Exchange GTX Of 3AC Founders Completed The Fundraising Plan

New Exchange GTX Of 3AC Founders Completed The Fundraising Plan

February 4, 2023
SBF's Emergent Fidelity Technologies Is The Latest Company To Declare Bankruptcy

SBF’s Emergent Fidelity Technologies Is The Latest Company To Declare Bankruptcy

February 4, 2023
WisdomTree Reports Fourth-quarter Loss Of $28.3 Million Net

WisdomTree Reports Fourth-quarter Loss Of $28.3 Million Net

February 3, 2023
Activision Blizzard Pays $35 Million SEC Fine For Allegations Of Workplace Misconduct

Activision Blizzard Pays $35 Million SEC Fine For Allegations Of Workplace Misconduct

February 3, 2023
Ethereum Restaking EigenLayer Is Now Raising $50 Million In Series A Funding

Ethereum Restaking EigenLayer Is Now Raising $50 Million In Series A Funding

February 3, 2023
Cosmos-based DEX Demex To Launch GLP Vault With No Withdrawal Fees

Cosmos-based DEX Demex To Launch GLP Vault With No Withdrawal Fees

February 3, 2023
ImmutableX Announcing Watch To Earn (W2E) As Its Whale Holdings IMX Tokens Gains 58%

ImmutableX Announcing Watch To Earn (W2E) As Its Whale Holdings IMX Tokens Gains 58%

February 3, 2023
Mango Markets Hacker Denied Bail And Charged With 3 Criminal Offenses Of Commodities Fraud

Mango Markets Hacker Denied Bail And Charged With 3 Criminal Offenses Of Commodities Fraud

February 3, 2023
Craig Wright Will Go To Full Trial With Allegations Against 16 Bitcoin Developers In London

Craig Wright Will Go To Full Trial With Allegations Against 16 Bitcoin Developers In London

February 3, 2023
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