In this week’s newsletter:
- Fed tightening begins as US macro outlook shifts.
- Ukraine has so far collected more than $100 million in crypto donations.
- Michael Novogratz said Bitcoin is likely to continue to trade in a range this year with the Federal Reserve raising interest rates.
Read our weekly round up below.
Bitcoin Holds up During Eventful Week
Robert Lynch – ALT 5 Sigma | March 18, 2022
This week the Federal Reserve began its well flagged tightening cycle, raising the federal funds target rate 25 bp (basis points) to 0.25%-0.50% and signaling that policy rates are expected to rise another 225 bp by the end of 2023.
Zelenskyy Signs Virtual Assets Bill Into Law; Legalizes Crypto In Ukraine
Crypto Daily | March 17, 2022
Ukrainian President Volodymyr Zelenskyy has signed the virtual assets bill, legalizing cryptocurrency in war-ravaged Ukraine. The legalization of crypto comes after a flurry of support poured in via crypto donations to support the nation’s defense against the Russian invasion. Since the start of the war, cryptocurrency donations to Ukraine’s war efforts and defense have shot past $100 million.
Novogratz Says Bitcoin Won’t Rally ‘Aggressively’ as Fed Hikes Rates
BNN Bloomberg | March 15, 2022
Michael Novogratz, the billionaire cryptocurrency investor who heads Galaxy Digital Holdings Ltd., said Bitcoin is likely to continue to trade in a range this year with the Federal Reserve raising interest rates.
Microsoft Dives into Web3 With Investment in Ethereum Co-founder’s Start-up ConsenSys
CNBC | March 15, 2022
Blockchain start-up ConsenSys has raised $450 million in a new round of funding that more than doubles its valuation to $7 billion. The cash injection was led by ParaFi Capital, ConsenSys said Tuesday, with Microsoft, Japan’s SoftBank and Singapore’s Temasek also joining as new investors in the company.
Biden’s Crypto Executive Order ‘Huge Validation’ for Blockchain: Chamber of Digital Commerce President
CNBC Squark Box | March 18, 2022
Perianne Boring, Chamber of Digital Commerce founder and president, joins CNBC’s ‘Squawk Box’ to discuss cryptocurrencies and Sen. Elizabeth Warren’s call for greater regulation.
Bitcoin holds $40K as on-balance volume hints at multi-month BTC price breakout
Cointelegraph | March 18, 2022
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD preserving $40,000 support overnight and with it, the area highlighted as “crucial” by analysis Thursday. Macro cues had lessened following the United States Federal Reserve rate hike confirmation, with a lack of new triggers from Europe steadying markets overall.
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