China News by Thebittimes.Com

The Federal Reserve has decided to pause Interest rate hikes for the second consecutive meeting. Indeed, the agency had made good on what many expected, placing the ongoing hike on hold for the third time in its year-long fight against inflation in the country. For much of the last year, the Fed has engaged in an aggressive tightening campaign to protect economic inflation. Now, the agency has opted to pause Interest rate s for October, as they did during their September meeting. Moreover, they raised Interest rate s over ten consecutive meetings from March 2022 to 2023, pausing for the first time in June. BREAKING: 🇺🇸 Federal Reserve pauses Interest rate hikes, remains at 5.25% – 5.50%. — Watcher.Guru (@WatcherGuru) November 1, 2023 Also Read: Bitcoin Price and Inflation Rate Hike Correlation is Fading Federal Reserve Halts Interest Rate Hikes For much of the year, the Federal Reserve has carefully set out to calm the rather tumultuous US e...

The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative? Coinbase, a leading U.S. cryptocurrency exchange , shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, in millions of dollars. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in Q2. Services and USDC stablecoin impact growth One downside was the 7% fall in subscription and service revenue from Q1. The letter to shareholders revealed that a 28% decrease in the USD Coin (USDC) market cap partly caused this. Since Coinbase holds a stake in Circle, USDC's issuer, it gains from the interest rate offered by the stablecoin reserves. Addition...

Bitcoin price is up, alongside the prices of stocks and altcoins, thanks to a “positive” CPI report. Bitcoin price is up on Dec. 13, and a market-wide rally in crypto prices has some investors hopeful that the intra-day high at $18,105 is a sign that BTC has bottomed.  A primary catalyst for the rally appears to be the Consumer Price Index report which showed energy decreasing by 1.6%, which should be welcomed news for struggling Bitcoin miners. With the overall CPI report showing easing inflation at 7.1% versus the previously expected 7.3%, equities traders are reacting by driving prices higher. Daily cryptocurrency market performance. Source: Coin360 The stock market is also flashing green, with the Dow showing a 600-point increase and the S&P 500 registering a 100-point gain. As reported by Cointelegraph, Bitcoin’s price action remains closely correlated to U.S. equities and today’s rally is no exception to the trend.  Here are a few reasons why Bitcoin price is up today . Bit...