Daily News

Global Central Banks All Hiking

Good Morning Everyone!

FTX executives are turning on each other. A filing yesterday revealed that days before the bankruptcy filing co-CEO Ryan Salame told authorities that SBF may have committed fraud by sending FTX customer funds to his hedge fund Alameda.


Prices as of 4 pm EST, 12/14/22; % YTD


European Central Bank

  • Raised its key interest rate by 0.5%

  • Highest rate since 2009

Bank of England

  • Raised its key interest rate by 0.5%


The U.S. Fed has more work to do to fight inflation

  • Yesterday, as expected, Jay Powell raised the Fed Funds rate by 0.5%

  • The range is now 4.25% to 4.5%

  • The target rate is 5% in 2023, so one hike of 50 or two hikes of 25 expected in 2023

  • The target rate is 4.1% in 2024

  • Higher for longer interest rates


  • Weaker than expected economic data

  • Industrial production +2.2% vs. street at 3.5%

  • Retail sales -5.9% vs. street -4.0%

  • Property investment -9.8% vs. street -9.2%

  • China injected 650 billion Yuan in the banking, more than 500B expected

Crude    76.20     -1.4%

  • Partial restart of the Keystone pipeline

  • Lack of timeline for full restart of the southern leg of Keystone


  • Elon Musk sold another $3.58 billion shares

  • Brings his total sale to $40 billion to fund his Twitter purchase


  • Foxconn is easing most COVID restrictions at its plant in Zhengzhou


  • Senate passed legislation that would ban federal employees from using TikTok on gov’t devices

  • Legislation still needs to pass the House


  • Lennar (NYSE:LEN) -3%

  • Jabil (NYSE:JBL)


MetaMask x PayPal (NASDAQ:PYPL)

  • MetaMask added PayPal integration to wallet

  • US users will be able to purchase Ethereum from app

  • Should reduce onboarding friction

  • PayPal users have been able to buy/sell crypto since 2020

US bill targets self-custody wallets

  • Financial Crimes Enforcement Network (FinCEN)

  • Would expand KYC (Know Your Customer) requirements

  • Crypto wallet providers, miners, validators, others would be treated as “money service businesses”

  • Would also require anti-money laundering programs

  • Prohibits use of digital asset mixers (like Tornado Cash)

CZ says “99% of people” will lose crypto in self-custody

  • Meanwhile, Binance withdrawals totaled ~$3 billion on Tuesday alone

Crypto Fear & Greed



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