{"id":6702,"date":"2022-08-27T04:13:55","date_gmt":"2022-08-27T04:13:55","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=6702"},"modified":"2022-08-27T04:13:56","modified_gmt":"2022-08-27T04:13:56","slug":"feds-powell-hawkish-on-inflation-as-btc-tumbles-taliban-ban-crypto","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=6702","title":{"rendered":"Fed&#8217;s Powell hawkish on inflation as BTC tumbles, Taliban ban crypto"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><em>The biggest news in the cryptosphere for Aug. 26 includes Federal Reserve Chairman Jerome Powell\u2019s indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the U.S. Dollar as the bear market continues.<\/em><\/p>\n<h2>CryptoSlate Top Stories<\/h2>\n<p><strong>Federal Reserve Chair urges everyone to \u2018factor inflation into financial decisions\u2019 during Jackson Hole conference<\/strong><\/p>\n<p>The Fed chair said in a speech at the annual economic policy conference in Jackson Hole that a single month\u2019s improvement is not enough to return inflation to 2% and \u201ca failure to restore price stability would mean much greater pain.\u201d<\/p>\n<p>Powell said in his speech:<\/p>\n<p>\u201cPrice stability is the bedrock of the economy \u2014 without price stability, the economy does not work for anyone.\u201d<\/p>\n<p>USDN loses peg again as Neutrino upgrade to \u201cstabilize protocol\u201d goes live<\/p>\n<p>Neutrino $USDN lost its peg for the first time since June 16 as it was updated to implement upgrades to the protocol. The confirmation of the upgrade was announced several hours after the peg fell from $0.98 to $0.96.<\/p>\n<p>Update #8 was decided on through a governance vote which included four proposals and the vote passed updates to \u201cimplement new swap mechanics, so that Max Swap Amount of USDN&gt;WAVES swaps will depend on the current BR value.\u201d<\/p>\n<p>Binance clarifies it froze Baking Bad corporate account due to law enforcement request, locked assets in agency custody<\/p>\n<p>Binance responded to allegations that it had frozen and wiped the account of Tezos (XTZ) tool contributor Baking Bad \u201cwithout any explanations.\u201d<\/p>\n<p>The crypto exchange giant said the freeze was due to a law enforcement request and that Baking Bad is aware of the issue behind the freeze as it was notified multiple times.<\/p>\n<h2>CryptoSlate Exclusive<\/h2>\n<p>Coinsillium CEO deems CBDCs a \u2018small niche\u2019 vs Bitcoin, other cryptocurrencies<\/p>\n<p>Coinsillium CEO Eddy Travia is not concerned about the impact of CBDCs as he thinks they fail to give users an edge over existing private crypto options.<\/p>\n<p>Travia said the push for CBDCs addresses the need to evolve and future-proof money while offering a strong degree of control \u2013 which is not the case with private cryptocurrencies.<\/p>\n<p>\u201cThey are looking at CBDCs because, again, CBDCs are something they can control, and they feel they can impose certain rules.\u201d<\/p>\n<p>Mercury Wallet is pitching itself as Bitcoin\u2019s answer to scalability, privacy<\/p>\n<p>Software engineer and privacy advocate Nicholas Gregory discussed Bitcoin privacy and developments at privacy-focused Mercury Wallet with CryptoSlate\u2019s Samuel Wan.<\/p>\n<p>Gregory pointed out that the way it works shatters the tenet of \u201cnot your keys, not your coins,\u201d which he finds highly entertaining.<\/p>\n<p>\u201cMercury Wallet is an alternative scaling solution. What I like about it from an entertainment point of view is it breaks one of the foundations of Bitcoin \u2013 not your keys, not your coins. Well Mercury allows you to pass around private keys.\u201d<\/p>\n<h2>Research Highlight<\/h2>\n<p>Diamond hands are at an all-time high<\/p>\n<p>Bitcoin\u2019s supply which was last active over a year ago, reached its all-time high this month and currently stands at 65.7%, according to data from Glassnode analyzed by CryptoSlate.<\/p>\n<p>The current percentage is even higher than the numbers recorded in May 2022, when the crypto market entered a period of unprecedented volatility.<\/p>\n<\/p>\n<h2>News from around the CryptoVerse<\/h2>\n<p><strong>3AC co-founder fears jail term<\/strong><\/p>\n<p>Three Arrows Capital co-founder Su Zhu is worried he and other company directors could face jail terms for contempt of court due to court-appointed liquidators stating that the co-founders of the embattled firm have been uncooperative, Bloomberg News reported.<\/p>\n<p><strong>Coinbase launches voter registration portal<\/strong><\/p>\n<p>Coinbase launched a voter registration portal in line with its education initiative to allow the crypto community to raise their voices on critical policy discussions happening in the U.S.<\/p>\n<p><strong>Crypto Tali-banned in Afghanistan<br \/><\/strong><\/p>\n<p>A crypto crackdown is underway in Afghanistan after the country\u2019s central bank banned cryptocurrencies and the Taliban regime arrested digital asset dealers, Bloomberg News reported, citing a senior police official.<\/p>\n<h2>Crypto Markets<\/h2>\n<p>Bitcoin was down 4.25% on the day, trading at $20,662, while Ethereum was trading at $1,555, reflecting a decline of over 8.47%.<\/p>\n<h3>Biggest Gainers (24h)<\/h3>\n<h3>Biggest Losers (24h)<\/h3>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/cryptoslate-wrapped-daily-feds-powell-hawkish-on-inflation-as-btc-tumbles-taliban-ban-crypto\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The biggest news in the cryptosphere for Aug. 26 includes Federal Reserve Chairman Jerome Powell\u2019s indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the U.S. Dollar as the bear market continues. CryptoSlate Top Stories Federal Reserve Chair urges everyone to \u2018factor inflation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-6702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6702"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6702\/revisions"}],"predecessor-version":[{"id":6704,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6702\/revisions\/6704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/6703"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}