The Best Cryptocurrency Exchanges of May 2023 - cyptoranking.com

2024-04-24

Popular crypto exchanges(2023 Update) 2024-04-24
Image: cyptoranking.com

Wang has previously said he “didn't think the lawyers would tell him to sign something that was illegal,” the filing said. This is a guest post by Jeroen van Lang. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.DYdX founder touts ‘tailor-made’ decentralized derivatives market The Best Cryptocurrency Exchanges of May 2023Photo by Frederick Warren on UnsplashThe U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than what economic analysts had predicted.The CPI is used to measure the average change over time in the cost of goods and services. Economic analysts, who were polled by Dow Jones, had predicted the increases to be 0.6% and 3.6% respectively.Energy Costs Contribute Significantly to US InflationWhen food and energy prices are set aside, the core CPI saw an uptick of 0.3% for the month and 4.3% year-over-year. This core index is given more attention by Federal Reserve officials because it offers a clearer picture of long-term inflation trends. During August, energy prices saw a rise of 5.6%, which included a substantial 10.6% jump in gasoline prices.Food prices went up by 0.2%, while the costs related to housing, which accounts for roughly a third of the CPI's weight, rose by 0.3%. The rent for primary residences increased by 0.5% and showed a 7.8% hike compared to last year. The owners equivalent rent, a metric that assesses what homeowners think they could charge for rent, rose by 0.4% for the month and 7.3% for the year.The report also revealed that airfares increased by 4.9%, although they are still 13.3% lower than they were a year ago. Prices of used vehicles, which played an important role in boosting the inflation rate in 2021 and 2022, dropped by 1.2% and are now 6.6% lower year-over-year. Transportation services experienced a 2% increase in August.Housing's Role in Inflation RateAccording to Lisa Sturtevant, the chief economist at Bright MLS, if housing costs were excluded from the CPI, the annual inflation rate would only be around 1%.“Housing continues to contribute an outsized share to the inflation measures,” Sturtevant said to CNBC. “Rent growth has slowed considerably and median rents nationally fell year-over-year in August. ... However, it takes months for those aggregate rent trends to show up in the CPI measures, which the Fed must take into account when it takes its ‘data driven’ approach to deciding on interest rate policy at their meeting ... later this month.”After the release of the inflation report, stock market futures initially dipped but later recovered. Treasury yields also saw an upward movement. Meanwhile, the rise in US inflation affected workers' earnings. Real average hourly earnings dropped by 0.5% in August, even though they are still 0.5% higher than last year.Federal Reserve's Approach to Tackling InflationRecent remarks suggest that Federal Reserve officials are in the process of developing a long-term strategy to address the issue of inflation. Since March 2022, the central bank has increased its benchmark borrowing rate by 5.25 percentage points to control inflation, which reached a peak not seen in over four decades last summer. Recent statements from officials suggest a more balanced view on the risks and a greater caution concerning future rate increases.“Overall, there is nothing here to change the Fed’s plans to hold interest rates unchanged at next week’s [Federal Open Market Committee] meeting,” wrote Andrew Hunter, deputy chief U.S. economist at Capital Economics.Market predictions for future Federal Reserve actions are fluctuating, with traders estimating about a 40% chance for another rate hike in November, based on data from CME Group.The latest data provides a comprehensive snapshot of where the economy stands with regard to inflation. While market reactions have been mixed, the figures underline significant shifts in various sectors, from energy to housing. Federal Reserve officials and market analysts will undoubtedly keep a close eye on these developments as they consider future policy actions. The fluctuations in sectors like housing and transportation services bring additional layers to the inflation discussion, making the coming months crucial for understanding long-term economic trends.Crypto Industry Turns to Customers Bank as Preferred Partner Amidst Collapse of Silvergate, Signature On the blockchain, there are various types of finality, each of which describes a distinct degree of certainty and irreversibility with regard to transactions and blocks. The main finality types on blockchain are as follows:

Exchange Rankings Crypto
Image: cyptoranking.com

It is currently retesting the $27,500 support level, and a breakdown could lead to a further drop to the 50-day moving average in the short term. On the other hand, a bullish rebound and a break above the 200-day moving average could finally pave the way for the market to target the critical $30K resistance zone once again. Are P2E games an Investment Opportunity? U.S. most popular cryptocurrency 2021-2023Ellison admitted to fraud during her time at Alameda under the direction of Bankman-Fried, claiming he “set up the systems” leading to the hedge fund taking roughly $14 billion from the exchange. Her testimony on the fifth day of SBF’s criminal trial was part of a plea agreement with prosecutors.According to Ellison, between $10 and $20 billion in FTX user funds were deposited to Alameda from 2020 through 2022, with the money used in part to “repay loans, investments and stablecoin conversions.” She added that FTX was not disclosing Alameda’s line of credit to investors or auditors. Related: SBF seeks to probe FTX lawyers’ roles in $200M Alameda loansThe former Alameda Research CEO testified on the firm buying back FTX Tokens (FTT) from crypto exchange Binance through the line of credit at SBF’s direction — “otherwise Binance would cause trouble” — as well as using loans from Genesis as a source of funds in 2021. Ellison also claimed she didn’t really feel qualified to be the CEO of Alameda:“Sam said I should do it,” said Ellison. “I checked everything with him. He was the person I reported to. He could fire me.”She also painted a seemingly grim picture of how Bankman-Fried viewed risk:“He [SBF] said it was okay if [there was] positive EV, expected value. He said he was willing to take large coin flips. He talked about being willing to flip a coin and destroy the world, as long as a win would make it twice as good.”According to her testimony, Ellison had an annual salary of $200,000, as well as a bonus of $20 million in 2021. FTX co-founder and former chief technology officer Gary Wang took the stand before Ellison, admitting to committing crimes with her and former FTX engineering director Nishad Singh.At the time of publication, Bankman-Fried’s lawyers had not cross-examined Ellison. Their defense strategy seemed to focus on shifting some of the blame for FTX’s collapse from SBF to Ellison by claiming she used the exchange’s funds at her own discretion. Bankman-Fried has pleaded not guilty to all charges.Magazine: Can you trust crypto exchanges after the collapse of FTX? The three largest Bitcoin mining pools — AntPool, Foundry USA and ViaBTC — control 67.1% of the Bitcoin hashrate at the time of writing this article. By themselves, AntPool and Foundry USA combine for 55.1%. If the largest pools were to collude with each other, the integrity of the Bitcoin network could be at risk.

Stablecoins are useful assets, but they come with their own set of risks. Algorithmic stablecoins might not be able to maintain their peg in the event of a market crash. Stablecoins backed by fiat that has not been audited may not have the reserves that their issuers claim. A staggering dip Robinhood reveals that it will halt support for Bitcoin SVTerraUSDT (UST), the Algorithmic Stablecoin "Even if ETH is deemed a “commodity” the DeFi projects built on TOP of ETH are subject to regulatory scrutiny. If DeFi usage drops in response to regulation, then the EIP-1559 Ultrasound money narrative suffers due to lower usage. The terminal value of ETH is greatly affected by the future of its issuance rate flipping from net burn to net issuance," Magadini added.

The Ultra team recently attended the major gaming conference Gamescom, where Gilot reports that interest from game developers and publishers, eSports organizations and investors was high as the video game industry seeks new ways to stay afloat during challenging times. Segment observers speculated the earlier-than-expected disclosures were also due to the looming shutdown, which Gary Gensler said during a Wednesday hearing would leave the commission with a “skeletal” staff. OKX Publishes 7th PoR Report With $10B in Crypto Assets, Continues ExpansionOpen Source Code Sincerely,ShyHail Shib

Have an opinion on this story? Share it!