Today's 75 basis point rate hike may be the last hike of the year. By acknowledging the lag between rate hikes and #inflation, the #Fed gave itself the leeway to pause. Also, the Fed's commitment to returning inflation to 2% over time does not indicate how much time it will take.
Bitcoin miner Iris in talks with attorneys for restructuring
Nasdaq-listed bitcoin miner Iris stated that bitcoin mining currently produce insufficient cash flow to service their respective debt financing obligations. Restructuring discussions with the lender remain ongoing. https://t.co/7yJzLabnOn
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,". “We want to be the bridge between crypto and the traditional, financial world.” @ web summit lisbon
ETH price is primarily driven by network activity in two ways: demand for the token to participate in the network and more activity translating to deflationary supply.
The more subsectors that are built (NFTs, DeFi, GameFi) the higher the likelihood of an activity uptick.
The cynical take is that network activity just follows price. Maybe as real use cases are built this changes. It's a chicken/egg type question, but once that feedback loop between network activity & price does get going, it likely accelerates quickly. For now, we keep observing.
