US Fed begins quantitative tightening, Japan restricts stablecoin issuance and LUNA 2.0 rides a price roller coaster: Hodler’s Digest, May 29-June 4
Fed money printer goes into reverse: What does it mean for crypto?
Over the last two years or so, the United States Federal Reserve has flooded the financial system with excess liquidity benefiting stocks, crypto and other markets as well. Now, the Fed is going in the opposite direction in order to combat inflation. In addition to raising interest rates, the central bank has begun the process of quantitative tightening (QT). Its not entirely clear how the crypto markets will respond to the Feds QT efforts, but the short-term outlook probably isnt good for risk assets.
CFTC sues Gemini claiming crypto exchange lied in futures contract evaluation
United States crypto exchange Gemini faces action from the U.S. Commodity Futures Trading Commission (CFTC) for certain alleged activity dating back to 2017. The CFTC essentially asserts that Gemini acted dishonestly in 2017 during its push to add futures trading contracts to its offerings. The commission claims Gemini was not honest during its evaluation process.
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