• Bitcoin jumped above $23,600 as Federal Reserve Chair Jerome Powell indicated the U.S. central bank is seeing signs of waning inflation.
• The FOMC lifted its benchmark interest rate by 25 basis points to a new range of 4.5%-4.75%, and data from the CME Group now shows investors pricing in an 86% chance of another 25 basis point rate hike at the March meeting.
• At his post-meeting press conference, Powell led off in a hawkish fashion, reminding reporters of the destructive nature of inflation and promising the Fed’s commitment to bringing inflation down to the 2% target.

Bitcoin Blasts Through $23.5K

Bitcoin (BTC) jumped above $23,600 following Federal Reserve Chair Jerome Powell’s suggestion that the U.S. central bank is seeing signs of waning inflation.

Fed Rate Hike

The Federal Open Market Committee earlier Wednesday lifted its benchmark interest rate 25 basis points to a new range of 4.5%-4.75%, the highest level in 15 years, as expected by markets. In its policy statement, it said „ongoing increases“ in borrowing costs will be necessary to further cool inflationary pressures seen in recent months due to economic recovery and government stimulus efforts

Powell’s Statements

At his post-meeting press conference, Powell made hawkish comments regarding inflation while also committing to bring it back down to their 2% target rate with continued increases in borrowing costs if needed throughout 2021 and beyond.. Data from CME Group now shows investors pricing in an 86% chance of another 25 basis point rate hike at the FOMC’s March meeting accordingly..

Price Movements

The news sent Bitcoin up over $700 on Wednesday evening as traders reacted positively to Powell’s statements and continued rate hikes from the Fed.. NewEdge Wealth Senior Portfolio Manager Ben Emons discussed bitcoin’s price action following this news from Powell and further emphasized how significant this could be for BTC prices moving forward into 2021..

Conclusion

Overall this news has been positive for Bitcoin with prices breaking through new all time highs after every announcement so far out of 2021.. With increased support behind BTC prices due to increasing confidence among traders and with more potential rate hikes still ahead it looks like BTC could be headed even higher during this bull run for 2021..

Bullet Points:
• Crypto exchange Coinbase has been fined $3.6 million by the Dutch central bank for offering crypto services to customers in the Netherlands without registering there.
• Dutch law requires crypto providers to register under anti-money-laundering and terrorist-financing norms.
• The base amount of the fine has been increased due to the severity and degree of culpability of the noncompliance.

Crypto exchange Coinbase has been hit with a hefty fine from the Dutch central bank for providing services to customers in the Netherlands without registering there. According to Dutch law, crypto providers must register under anti-money-laundering and terrorist-financing norms.

The fine imposed on Coinbase amounts to 3,325,000 euros ($3.6 million). The Dutch central bank said that the base amount of the fine has been increased due to the severity and degree of culpability of the noncompliance. It also took into account the scale of Coinbase’s Dutch customer base and the competition in the crypto sector in the Netherlands.

Coinbase has come under fire in recent years for its lack of compliance with various regulations. Last year, the crypto exchange was fined $6.5 million by the U.S. Commodity Futures Trading Commission for overstating its trading volumes and disclosing inaccurate information about its operations. Coinbase also received a $25 million penalty from the U.S. Securities and Exchange Commission for admitting it had violated federal securities law.

Now, Coinbase must pay the Dutch central bank a hefty fine for failing to register with the regulator, a requirement that all crypto providers in the Netherlands must adhere to. The exchange is considering filing an objection to the penalty, though it is unclear whether the fine will be overturned.

The news of Coinbase’s fine comes as regulators around the world are increasing their scrutiny of the crypto industry. Governments are ramping up their enforcement of crypto regulations, as more and more people turn to digital currencies as an alternative to traditional financial services.

Coinbase’s fine is a reminder that crypto exchanges must comply with the rules and regulations set by their respective regulators. All crypto providers must take the necessary steps to protect their customers and ensure that their operations are in line with the law. Failure to do so could result in hefty fines, which could put a strain on the crypto industry.

• Timothy Stranex, co-founder and CTO of cryptocurrency exchange Luno, departed in December.
• He has been replaced as CTO by Simon Ince, who joined Luno just under two years ago as its vice president of engineering.
• Luno has over 10 million customers worldwide and offices in London, Singapore, Cape Town, Johannesburg, Lagos, and Sydney.

Cryptocurrency exchange Luno recently announced the departure of their co-founder and chief technology officer (CTO), Timothy Stranex. Stranex had been with Luno for nearly 10 years and left in December in order to pursue his own personal projects. Taking his place as CTO is Simon Ince, who joined Luno just under two years ago as the vice president of engineering.

Luno, which is based in London, is owned by Digital Currency Group (DCG) and has over 10 million customers worldwide. The exchange has offices in several major cities, including Singapore, Cape Town, Johannesburg, Lagos, and Sydney. Luno has been in operation since 2013 and provides services that allow users to buy, sell, and store digital currencies like Ethereum, Bitcoin, and Ripple.

Luno has been able to establish itself as one of the most reliable cryptocurrency exchanges due to its focus on providing a secure and easy-to-use platform for customers. The exchange is known for its low fees, which make it attractive for investors who are looking to get started with cryptocurrency investing. The exchange is also one of the few that supports a variety of different cryptocurrencies, making it a great choice for investors who are interested in trading multiple currencies.

The departure of Timothy Stranex is certainly a notable event for the cryptocurrency exchange, but it appears that the exchange is in good hands with Simon Ince as the new CTO. Ince has already made a positive impression on the Luno team with his focus on security and reliability, and the company is confident that he will continue to build on the success of the platform. With Luno’s worldwide presence and the new leadership of Simon Ince, the cryptocurrency exchange is likely to remain a prominent player in the industry for years to come.

• Digital Currency Group (DCG), the parent company of crypto lender Genesis, is looking to sell some of its venture-capital portfolio worth around $500 million to pay off creditors.
• Genesis owes its creditors over $3 billion, prompting DCG to consider asset sales in order to raise fresh capital.
• Tensions between DCG and Genesis creditors have been running high, with Gemini co-founder Cameron Winklevoss even calling for DCG CEO Barry Silbert’s ouster earlier this week.

Digital Currency Group (DCG), the parent company of crypto lender Genesis, is reportedly looking to sell some of its venture capital portfolio worth around $500 million to pay off its creditors. This comes after Genesis, a major player in the digital currency lending market, has been unable to meet its debt obligations, owing creditors over $3 billion.

The Financial Times reported that DCG has been considering offloading some of its venture-capital portfolio, which includes investments in major crypto-related companies like Coinbase (COIN), Kraken and Blockchain.com, as well as the now bankrupt FTX. It is worth noting that many of DCG’s assets are illiquid, however, and a sale will likely take some time to be completed.

Tensions between DCG and Genesis creditors have been running high, with Gemini co-founder Cameron Winklevoss even calling for DCG CEO Barry Silbert’s ouster earlier this week. This was likely due to the fact that many Genesis customers and creditors have not been able to access their funds since the lender stopped withdrawals late last year.

The situation is likely to remain tense in the coming weeks as DCG continues to look for ways to pay off its creditors. This could potentially include further asset sales, though no further details have been revealed at this time. It is also unclear how the creditors will respond to this situation, or what sort of debt restructuring plans may be in the works.

What is clear is that the crypto lending industry has been hit hard by the recent market downturn, with many lenders having to restructure their debts or look for ways to raise capital. This situation serves as a reminder that, while digital currencies can offer great opportunities for investors, they can also be a risky endeavor and should always be approached with caution.

• Cryptocurrencies have been volatile for the past 14 months, leading to the wild world of annual cryptocurrency predictions.
• CNBC reported on Monday that digital venture capitalist Tim Draper has the most optimistic call for 2023, with a $250,000 prediction, while Standard Chartered has the most pessimistic call, with a $5,000 prediction.
• Crypto for Advisors is a weekly look at digital assets and the future of finance for financial advisors.

The past 14 months have been a rollercoaster ride for cryptocurrency investors. As prices continue to fluctuate, investors are faced with the daunting task of making predictions on the future value of their investments. The boldest of these predictions have been made by a variety of people, ranging from digital venture capitalists to financial institutions.

On Monday, CNBC reported the predictions made by digital venture capitalist Tim Draper and Standard Chartered. Draper has the most optimistic call for 2023, predicting that the value of cryptocurrencies could reach $250,000 by the end of the year. On the other hand, Standard Chartered has the most pessimistic call, believing that the value of cryptocurrencies could be as low as $5,000 by the end of 2023.

These wild predictions have put investors in a difficult situation, as they must decide which predictions are more likely to come true. To help them make the best decision, Crypto for Advisors is a weekly look at digital assets and the future of finance for financial advisors. It provides readers with the latest news and analysis on the cryptocurrency market, as well as advice on which investments may yield the best returns.

Cryptocurrencies have become increasingly popular in recent years, as more and more investors are looking to diversify their portfolios. This increased demand has led to extreme price volatility, prompting some investors to make bold predictions on the future value of cryptocurrencies.

While it is impossible to know for sure which predictions will be accurate, Crypto for Advisors provides readers with the necessary tools to make informed decisions. By subscribing to the newsletter, investors can stay up to date on the latest news and analysis of the cryptocurrency market. They can also receive advice on which investments may offer the best returns.

The future of cryptocurrencies is uncertain, but with the right information and analysis, investors can make the best decisions for their portfolios. By subscribing to Crypto for Advisors, investors can stay informed on the latest news and analysis of the cryptocurrency market, as well as receive advice on which investments may provide the best returns.

• Securrency, a crypto infrastructure firm, has hired State Street’s head of digital, Nadine Chakar, as its new CEO.
• She replaces Securrency’s founder Dan Doney, who will continue to serve as the company’s CTO.
• Chakar’s appointment will provide institutional-grade compliance to bring to Securrency’s products and services in tokenization, decentralized finance (DeFi) and interoperability.

Securrency, a crypto infrastructure firm, has announced the appointment of Nadine Chakar as its new CEO. Chakar, who was formerly the head of digital at State Street, is set to replace Securrency’s founder Dan Doney, who will remain with the firm as its chief technology officer (CTO).

Chakar brings extensive experience in the financial services industry, having spent just under a year and a half as State Street’s digital chief, and over two years as its head of global markets. She has also been a member of Securrency’s board since 2021, when State Street participated in a $30 million funding round for the company. Other participants in the round included U.S. Bank, Abu Dhabi, Catalyst Partners and WisdomTree Investments.

Securrency was created to provide institutions with blockchain-based regulatory technology on top of existing legacy systems to enable digital asset adoption in a compliant manner. With the addition of Chakar, the firm will be able to leverage her deep knowledge of institutional compliance to help bring its products and services in tokenization, decentralized finance (DeFi) and interoperability to the next level.

“I am thrilled to be joining Securrency at this important stage in its development,” Chakar said in a statement. “The company has built a powerful platform that is revolutionizing capital markets, and I look forward to the challenge of leading its growth and development.”

“Nadine’s appointment is testament to the hard work and dedication of the Securrency team, and a recognition of our ambition to lead the institutional adoption of digital assets,” said Doney. “Her experience and expertise will be invaluable as we continue to develop and expand our platform to meet our clients’ needs.”

With Chakar taking the helm, Securrency is well-positioned to continue its mission of providing the world’s leading financial institutions with the technology they need to adopt digital assets in a compliant manner.