Vitalik dumps shitcoins before Fed confirms inflation not peaked
Fed chair Jerome Powell warned of more inflation pain but claimed that stablecoins will have a part to play in the financial system.
Cryptocurrency news by Protos · Protos
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Show Notes
Vitalik Buterin timed the market’s next leg-down perfectly, selling up to $700,000 worth of shitcoins right before chair of the Federal Reserve, Jerome Powell testified in front of the Senate Banking Committee and rattled the markets.
Yesterday, Powell reminded everyone that the Federal Reserve will keep interest rates higher for longer than investors were expecting, and in addition, confirmed that it may also raise interest rates even higher than 5%. The current Federal Funds rate rests just above the 4.5% mark.
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