Hodler’s Digest, May 29-June 4 -Breaking
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US Fed begins quantitative tightening, Japan restricts stablecoin issuance and LUNA 2.0 rides a price roller coaster: Hodler’s Digest, May 29-June 4Fed Money Printer goes in reverse. What does this mean for cryptography?
In the past two years, the United States Federal Reserve flooded financial markets with excessive liquidity, which has helped stocks, crypto, and other markets. In order to counter inflation, the Fed has decided to move in the other direction. The central bank began the process of quantitative tightening, which is a combination of raising interest rates and increasing them. While it’s unclear how the crypto market will respond to Feds QT, there is no doubt that the long-term outlook wont be favorable for risk assets.
Gemini sued by CFTC for allegedly lying about futures contracts evaluation
United States cryptocurrency exchange Gemini is facing U.S. Commodity Futures Trading Commission action (CFTC), for certain alleged actions dating back to 2017. The CFTC claims that Gemini acted indecently during 2017’s push to include futures trading contract options to its offering. According to the commission, Gemini wasn’t honest in its assessment process.
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