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PLUS: A day in the life of Binance’s head of law enforcement training – petty crooks, fake subpoenas, and dodging politically sensitive requests.
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Ripple's XRP, Solana's SOL and Lido Finance's LDO lost more than 4% in the last 24 hours.
Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The latest price moves in crypto markets in context for July 17, 2023.
Funding rates in perpetual futures tied to BNB are most negative in nearly three months.
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC.
Along with XRP’s strong week, 172 of 186 CoinDesk Indices assets finished in positive territory
Ripple's XRP was down 25% from its highest levels on Thursday.
- 14:00Institution: There is a high possibility that the Federal Reserve will not cut interest rates this yearNews on February 7, PGIM Fixed Income Portfolio Manager Michael Collins stated that this is another sign of the economy's continued resilience. This is a strong economy. The Federal Reserve can now stand still completely. They might not take action (cut interest rates) this year, and the possibility is very high.
- 13:59Federal Reserve Kashkari: Good inflation data and a strong labor market will prompt me to support further interest rate cutsFederal Reserve Kashkari: If we see good inflation data and the labor market remains strong, then this will prompt me to support further interest rate cuts.
- 13:53"Federal Reserve mouthpiece" Nick Timiraos: The US unemployment rate in January was lower than the 4.09% in December last year and the post-pandemic high of 4.23% in November"Federal Reserve mouthpiece," Nick Timiraos stated: The U.S. unemployment rate fell to 4.01% in January, lower than the 4.09% in December last year and the post-pandemic high of 4.23% in November.