This week the cryptocurrencies market took another dip and was marked by juicy headlines. As interest rates in USA hiked a again, people reacted accordingly. In addition, FTX CEO Sam Bankman-Fried finally got caught in the Bahamas. And since, questions have risen about BINANCE proof of funds. The exchange continues to juggle a wave of withdraws, while showcasing a strong front to the media.
The environment is very delicate right now. The market Experienced a positive recovery last week with Bitcoin prices going above 18K. But it eventually took another dip driven by low volume in general in exchanges.
On a positive note, while exchanges are getting shaken, there was a large increase in sales for hardware wallets across the board. Trezor, for example, recorded a 300% sales increase in November 2022. And that is mainly being driven by people seeking security and self custody.
Regardless of what happens to exchanges; Bitcoin, cryptocurrencies, and true decentralization will prevail.
Below are the most relevant headlines of the week with links so you can go directly to the source.
Sunday December 11th, 2022: Binance's proof of reserves raises red flags: Report - https://cointelegraph.com/read/binance-s-proof-of-reserves-raises-red-flags-report
Monday December 12th, 2022: SBF Charged With Conspiracy, Wire Fraud, Money Laundering by Justice Department, Securities Violations by SEC - https://decrypt.co/117060/sam-bankman-fried-criminal-charges-justice-department-sec-conspiracy-wire-fraud
Tuesday December 13th, 2022: Business as Usual Says CZ, Confirming Over $1 Billion Daily Withdrawals - https://cryptopotato.com/business-as-usual-says-cz-confirming-over-1-billion-daily-withdrawals/
Wednesday December 14th, 2022: Bitcoin Falls as Federal Reserve Slows Rate Hikes but Stays Hawkish - https://www.coindesk.com/markets/2022/12/14/federal-reserve-slows-pace-of-rate-hikes-to-50-basis-points-in-december/
Thursday December 15th 2022: Digital euro on EU priorities list before 2024 elections - https://www.theblock.co/post/195302/digital-euro-on-eu-priorities-list-before-2024-elections
Friday December 16th 2022: Hal Finney's wife resumes activity on Bitcoin pioneer's Twitter account to avoid potential purge - https://cointelegraph.com/read/hal-finney-s-wife-resumes-activity-on-bitcoin-pioneer-s-twitter-account-to-avoid-potential-purge
Saturday December 17th 2022: Enjoy your Saturday.
All my best
Michelle M
www.mammycrypto.com
Social Media links: https://cointr.ee/mammycrypto