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    Gate.io Blog Daily Flash | US FED Raises Interest Rate by 75 Basis Points, 3AC Failed to Meet Margin Calls

    Daily Flash | US FED Raises Interest Rate by 75 Basis Points, 3AC Failed to Meet Margin Calls

    17 June 09:43

    Today's Headline - Fed Announces 75 BPS Interest Rate Hike; Biggest in 28 Years

    On Wednesday, the Federal Reserve announced an interest rate hike of 75 basis points or 0.75% to curb rising inflation. The interest rate hike was the biggest in 28 years. The U.S. central bank also announced that it would continue reducing the size of its balance sheet at the rate announced in May.

    Federal Reserve Chair Jerome Powell stated the central bank will not "declare victory" until officials see "compelling evidence" that inflation is coming down. While interest rate hikes are generally bad news for financial markets, BTC saw a steady price increase in the hours after the news was released. This is most likely due to analysts having already priced in the hike in the days leading up to the meeting.

    Chart of the Day - The Darkest Phase of the Bear: Glassnode report

    The report reads,

    “Macro headwinds remain a large-scale driver, with the latest US CPI print of 8.6% being above expectations and another 2y-10y US Treasury Bond yield curve inversion occurring in the early hours on Monday…”

    Adding that,

    “The current bear market is now entering a phase-aligned with the deepest and darkest phases of previous bears. The market on average is barely above its cost basis, and even Long-Term Holders are now being purged from the holder base.”

    Influencer of the Day - Warren Buffett Has Now Given Record $48 Billion To Charity

    Warren Buffett, the legendary investor known as the “Oracle of Omaha,” announced Tuesday that he has donated roughly $4 billion worth of his conglomerate Berkshire Hathaway’s stock to charitable foundations for his 17th annual summer gift.

    That brings his total lifetime giving to a record $48 billion. Buffett's latest gift further solidifies his place as the likely biggest philanthropist of all time.
    Forbes estimates that Buffett was worth $100.2 billion at the close of trading Tuesday, before taking into account his latest gift.

    Buzzes of Yesterday - #3AC Failed to Meet Margin Calls, #Tether Denies Rumors of Reducing Commercial Paper Holdings

    Three Arrows Capital has failed to meet margin calls: Cointelegraph report

    Tether condemns false rumors about its commercial paper holdings

    Pendulum and Amplitude Integrate With Acala To Bring aUSD to the Polkadot and Kusama-based Parachains

    US Air Force taps SIMBA Chain to develop budgeting and accounting system: Businesswire report

    Kazakhstan to let crypto exchanges open bank accounts

    Author: Gate.io Researcher Peter L.
    This article represents only the views of the researcher and does not constitute any investment advice.
    Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced.
    In all other cases, legal action will be taken due to copyright infringement.
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