ECB President Mrs. Lagarde insists on the need to regulate cryptocurrencies in Europe. She also intends to implement the payment of taxes in cryptocurrencies. France and Switzerland are testing CBDC. Inflation in Spain and Germany grows at a slower rate than expected and gives the Eurozone a breather.
Coinbase withdraws several tokens from the Coinbase wallet. Sam Bankman Fried admits to donating to Republicans and Democrats during the campaign. As for the proof of reservation that various exchanges are presenting, none of the exchanges is going to present more than a few addresses with cryptocurrencies and that is not enough proof. What is needed for this to be viable is the trust of third parties and this leads us to equate exchanges with traditional brokers (segregated funds, showing liabilities, etc..).
Today Powell, the chairman of the Federal Reserve, is speaking, which is sure to affect the market. We also have data on GDP and employment in the US. Yesterday Apple's big fall was due to the problems in China (they also have an open war with Elon Musk and Twitter).
Bitcoin is above $16,700 and Ethereum is at $1,210.
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