Hey Guys,
If you managed to make it through the weekend – good job!
It's been a crazy past few days and I would love to say that things are going to get better but that would be a lie. That's because in a few hours, US markets open and it's anyone's guess how they will process the news of SVB over the weekend.
Then of course there are the concerns that are swirling around USDC and whether it will manage to handle all the redemptions that are likely to come its way. USDC has managed to almost fully regain its peg as people have processed the SVB bailout.
Amoungst all of this, we had news coming from the White house that they wanted to target crypto miners with a punitive tax. They also plan to change tax laws around tax harvesting for crypto traders.
As if all of that wasn't enough, we are going to have a flood of important economic data this week. That includes inflation figures in the US that could inform the Fed's rate decision this month.
That's all covered in this week's crypto market news.
Enjoy, if you can…
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Circle Promises To Make USDC Holders Whole: https://cointelegraph.com/news/circle…
► NYAG Says ETH Is A Security: https://decrypt.co/123102/new-york-at…
► FedNow Release Date: https://www.federalreserve.gov/newsev…
► Biden Proposes 30% Crypto Mining Electricity Tax: https://cointelegraph.com/news/biden-…
► Jerome Powell Promises Higher Interest Rates: https://www.reuters.com/markets/rates…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
