Cryptocurrency Prices Correct Lower as Binance CEO Agrees to Plea Deal

(Kitco News) - Cryptocurrency prices corrected lower on Tuesday after the U.S. Department of Justice (DoJ) announced that Binance CEO Changpeng Zhao (CZ) has agreed to a plea deal regarding charges filed against him and the exchange that will see CZ step down as CEO and the exchange pay a fine of $4.3 billion. More broadly, financial markets fell under pressure after the minutes from the Federal Reserve ’s Oct. 31 - Nov.

1 meeting showed that Fed officials agree that the central bank can “proceed carefully” when it comes to future interest rate decisions. All FOMC participants “judged that it would be appropriate for policy to remain at a restrictive stance for some time until inflation is clearly moving down sustainably toward the Committee’s objective,” the minutes said. The Fed members decided on this path forward largely because inflation remains stubbornly above their 2% target, and they feel more action will be needed to reach this mark. At the close of markets, the S&P, Dow, and Nasdaq all finished in the red, down 0.24%, 0.22%, and 0.65%, respectivel

Source: Digital Coin News (digitalcoinnews.net)

Cryptocurrency Binance CEO Plea Deal Charges Fine Financial Markets Federal Reserve Interest Rate Decisions

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