While the traditional market does not wake up, the Crypto Times come take a good morning to bitcoin. Check out a brief summary of what can mess with the crypto market this Thursday (5).
the minutes of Federal Reservereleased yesterday, reinforced the Fed’s commitment to fighting inflation and reiterated that the monetary authority is far from changing its posture in conducting the interest rate. With that, one should not expect cuts this year.
In reaction, the futures indices of the new york bags dawned in the red, waiting for data from job in the US between today and tomorrow.
By 10:30 am, Dow Jones futures were down 0.32%; S&P 500 was down 0.29% and Nasdaq futures were down 0.27%.
Bitcoin, on the other hand, is on the sidelines, with a slight decrease of 0.05%, trading at $16,813. Ether (ETH) is also teetering between narrow margins, down 0.09% at $1,251.
FTX claims new victim
The highlight of the day in the crypto world is the news that the FTX collapse has sparked a run on Silvergate Capital. The bank was forced to sell assets to cover an estimated $8.1 billion in withdrawals after the cryptocurrency exchange collapsed. cryptocurrencies.
Silvergate estimates losses of more than $700 million amid the liquidation. The amount far exceeds the bank’s total profits since at least 2013.
Silvergate serves companies in the cryptocurrency business, taking deposits and operating a network that connects investors to cryptocurrency exchanges. FTX and other companies controlled by its founder, Sam Bankman-Friedrepresented about $1 billion of the bank’s deposits.
The FTX meltdown in November rocked the cryptocurrency market and sent stocks down sharply. silvergate.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
