Fed Chair's Moderate Remarks Send Cryptos HigherU.S. Federal Reserve Chairman Jerome Powell wasn't exactly dovish in a speech Wednesday, but his suggestion that the Fed could live with a more moderate interest rate hike at its mid-December meeting sent cryptocurrency prices, not to mention other assets, higher.
Bilal Little, president of DFD Partners, told CoinDesk TV's First Mover program that this week's rally also reflected a price reordering that often follows periods of distress."Anytime you have an episodic event, markets tend to oversell, and what also happens is you see the immediate look to contagion, and everyone starts pointing fingers. Then as markets gain more clarity, you see the fair market value come back into alignment.
Prices moved little late on Wednesday, seemingly unimpressed by former FTX CEO Sam Bankman-Fried's latest non-confessions in a New York Times live interview about the missteps leading to FTX's filing for Chapter 11 bankruptcy protection on Nov. 11. Bankman-Fried spoke in generalities, often looking down at the floor as the Times' uber-reporter Andrew Ross Sorkin peppered him with questions."I didn't ever try to commit fraud," Bankman-Fried said at one point.
Source: Digital Coin News (digitalcoinnews.net)
thesamreynolds JPRubin23 If there's not a Byzantine Generals trust problem to solve, a centralized database will always be more efficient.
thesamreynolds JPRubin23 i read many whitepapers for such projects during the blockchain craze period. i agree that many of them didn't offer much advantage for corporations over centralised systems, but that isn't the point of decentralised software. the main point is to empower people, not corporations
thesamreynolds JPRubin23 IBM sucking. Surprise suprise.
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