It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. The news hit the wires on Wednesday of Paysafe Payment Solutions Limited, Binance’s EUR banking partner, ending services on September 25.īinance has faced increased scrutiny in Europe since the SEC filed charges against Binance.US, Binance, and Binance CEO CZ. The crypto news wires added to the bearish mood, with Binance facing more scrutiny. Significantly, the chances of the Fed lifting rates to 5.75% in September stood at 16.4%, up from 15.4% on Tuesday. A modest increase in the chances of a September 25-basis point interest rate hike to take the Fed Funds Rate to 5.75% limited the damage.Īccording to the CME FedWatch Tool, the probability of a 25-basis point July Fed rate hike stood at 81.8% versus 76.9% on Tuesday. Powell said consecutive interest rate hikes remained on the table, cementing bets on a July Fed rate hike.ĭespite the hawkish chatter, the NASDAQ Composite Index bucked the broader market trend, rising by 0.27%. However, Fed Chair Powell delivered a hawkish speech at the ECB central bank forum to test buyer appetite. There were no US economic indicators for investors to consider. It was a quieter Wednesday session on the US economic calendar. Fed Chair Powell and Binance-Related News Weighed
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