POKKET: Crypto Market Update (June 11)
Bitcoin price is softer -2.3% to $36250 while ETH is lower -6.5% to $2420. Movers are DOCK +17%, CHZ +15%, POLY +12%, TRU -12%, OGN FIS DENT -11%, NMR LINA -10%.
According to cryptwit, Silvergate Bank will stop processing USD deposits and withdrawals for Binance, although BinanceUS “remains in good standing” the bank tweeted.
Michael Saylor announced the opening of the Bitcoin Mining Council, an open forum dedicated to promote transparency, share best practices and educate the public, which Elon Musk will play no role in.
The IMF is throwing its toys around after the chad move by El Salvador to recognize BTC as legal tender, and held a press conference yesterday saying it “raises a number of macroeconomic, financial and legal issues”.
The BIS (Bank for International Settlements) proposed that banks with BTC exposure should set aside capital to cover losses in full, a 1:1 capital requirement.
Lastly, the US headline CPI jumped 5% YoY in May, the highest since Aug08, with used cars & trucks rising +30% YoY as the ongoing chip shortage keeps new vehicles out of stock.
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