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The Federal Reserve opted to keep its key interest rate unchanged on Wednesday, as the central bank's focus on combating inflation exacerbates the pain in the crypto market. In his usual cautious tone, Federal Reserve Chairman Jerome Powell told reporters that the fight to raise inflation to 2% would be difficult, but said, “I don't think the next move in policy interest rates will be a rate hike.'' “It is unlikely that this will happen,” he added. “I'd say it's unlikely,” he said, but added: “It's likely to take longer before we can be confident we're on a sustainable path…

Over $340 million of long positions were liquidated in the past 24 hours.Cryptocurrency markets continued to fall on Wednesday morning, hours before the US Federal Reserve announced its interest rate decision.Bitcoin (BTC) is hovering around $57,000, its lowest since late February, after falling 6% in the past 24 hours.Ether (ETH) traded as low as $2,820, while Dogecoin (DOGE) fell 8%. Solana (SOL) and Avalanche (AVAX) both suffered losses of about 7%.ETH priceCoinGlass reported that over $421 million in crypto futures positions were liquidated in the past 24 hours, of which over $349 million were long. Longing an asset means betting…

As expected, the Federal Reserve's Federal Open Market Committee on Wednesday kept the benchmark range for the federal funds rate unchanged at 5.25% to 5.50%.Also, almost as expected, the FOMC acknowledged that progress in lowering inflation has stalled this year, and it is appropriate to lower interest rates until there is greater confidence that inflation is on a “sustainable” path toward 2%. He said it was not.Bitcoin (BTC) price rebounded slightly in the minutes after the news broke, but remains under pressure, falling more than 4% during the session to $58,000.In addition to the interest rate news, the FOMC announced…

Data from TokenUnlocks reveals that around 19 crypto projects plan to put at least $10 million worth of coins into circulation this month. In the cryptocurrency industry, projects sometimes avoid putting the maximum supply of their tokens on the public market. This practice is common for protocols that raise funding through venture capitalists and independent investors. A portion of the token supply is subject to a vesting schedule known as a lock-up period. During this period, investors and contributors will not be able to liquidate their crypto assets or sell them on exchanges, although some protocols will allow staking and…

Analysts looking only at price charts say Bitcoin's decline could get worse before it gets better. The main cryptocurrency has recorded negative growth for the first time in eight years, making it the worst month since November 2022. The downward trend intensified on Wednesday, falling below the $60,000 level for the first time since February, as stubborn inflation and uncertainty over the Federal Reserve's interest rate policy kept the market unmoved. Under pressure. According to Oppenheimer analyst Ari Wald, this is an important support level for Bitcoin and represents the approximate convergence of the March low and the 100-day moving…

issued 1 minute ago upon Federal prosecutors are scrutinizing Block's crypto division and are working with a whistleblower to investigate the company's compliance practices, two sources familiar with the matter told NBC News on Wednesday.The company founded by Twitter co-founder Jack Dorsey is suspected of processing cryptocurrency transactions linked to sanctioned countries and terrorist organizations because of insufficient checks, sources say on NBC News. told. But the company's allegedly lax cryptocurrency practices are just one part of “widespread and long-standing compliance violations” at Block's Square and Cash App divisions, the magazine reported.”Everything in the compliance department was fundamentally flawed,” a…

U.S. prosecutors are investigating the financial dealings of Jack Dorsey's block. NBC News reported that federal prosecutors have interviewed former employees about widespread alleged compliance violations at the company's two major divisions, Square and Cash App. Prosecutors will question whether the company failed to collect enough customer information to assess risk, whether Square processed transactions involving countries subject to economic sanctions, and whether Block processed virtual currency transactions for terrorist groups. I'd like to find out if that's the case. Some of the transactions that prosecutors were interested in involved sanctioned countries, including Cuba, Iran, Russia and Venezuela, and occurred…

AUSTIN, Texas — Rootstock, founder of Bitcoin's Layer 2 protocol, is building on developer Robin Lynas' controversial BitVM design last year to improve programmability in the oldest blockchain. revealed detailed plans for a new “BitVMX” project aimed at improving theSergio Demian Lerner, a Buenos Aires-based programmer known for his early research into Bitcoin founder Satoshi Nakamoto's mining activities and later for helping develop the Ethereum blockchain, said on Wednesday: The project was discussed on stage at the Bitcoin++ conference in Austin, Texas.”We have a roadmap to get this done within a year,” Lerner said during his presentation. “We're moving full…

Over the past 24 hours, Bitcoin and Ether have risen 4%, while Solana has surged 12%.Cryptocurrency markets rebounded on Thursday after the Federal Reserve decided to keep interest rates on hold.Bitcoin (BTC), the world's largest cryptocurrency, is trading at around $59,000, registering a 4% recovery in the past 24 hours. Ethereum (ETH) is up 3.8%, while Solana (SOL) is soaring 12%, according to CoinGecko data.solana priceAccording to Coinglass, more than $100 million in short positions have been liquidated in the past 24 hours.Fed Chairman Jerome Powell said at a press conference on Wednesday that the 2% inflation target will be…

U.S. Sen. Cynthia Lummis (R-Wyo.) said she is “deeply troubled” by the Department of Justice's (DOJ) stance on unmanaged software. in Tweet, Lummis expressed concern about the Department of Justice's “very aggressive argument that non-custodial software may qualify as a money transfer service.” He added that the Justice Department's position is “inconsistent with existing Treasury guidance” and “violates the rule of law.” “The argument against self-custody software threatens fundamental property rights that are at the core of being an American,” Lummis said, adding, “For the right to keep your own keys and run your own nodes. “I will fight,” he…