Don’t miss out on today’s top news in finance and crypto! Learn about the latest CPI numbers and how they’re impacting the markets, and discover the bizarre story of Milady’s sudden surge in value. Read on for all the details.
The CPI (inflation rate) for April came in slightly better than expected at 4.9%, with a forecast of 5%. This suggests that U.S. inflation has slowed down a bit. But despite this moderate positive, the markets are showing very little growth-the S&P 500 is up less than 0.3%. Bitcoin briefly rose to $28k on this news and then pulled back to $27k again.
Negative sentiment around US government debt and the aggressiveness of the SEC towards crypto prevent more significant market growth. In the meantime, instead of just banks going bankrupt, yesterday the news came out that the whole state is already going bankrupt: California defaulted on its debt to the federal government. And this is a state with a GDP of over $3.6 trillion!
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
Biden’s meeting with congressional leaders was not positive. After the meeting, Biden said that “default would be devastating for the U.S. economy. The surprising carelessness of the U.S. authorities towards public finances and the increased attention to crypto look rather strange.
Elon Musk tweeted yesterday about another meme-token, Milady, and its associated NFT collection — the token has grown more than 10,000% in the last 24 hours. It’s easy to see the strange facts involved:
Earlier, it was reported that there is a coordinated action by a group of anonymous individuals who are serially creating and pumping meme tokens. For example, CZ warned his subscribers:
There apparently are groups of people trying to buy accounts I follow, then issue meme coins. I unfollow and block them. Don’t get into those meme coins either. Understand the risks.
We urge caution in speculating in new meme-coins because the lack of transparency of these markets and fair play is obvious.
Hello, fellow crypto enthusiasts! 👋 As we embark on another week in the ever-evolving crypto…
EigenLayer, a protocol for Ethereum restaking, recently announced an airdrop plan that garnered both praise…
Keonne Rodriguez, a figure linked to the cryptocurrency mixing service Samourai Wallet, has entered a…
The debut of spot crypto exchange-traded funds (ETFs) on the Hong Kong stock market is…
Tether, renowned for its dominant stablecoin USDT, has embarked on a significant investment journey after…
Bitcoin analyst Willy Woo forecasts that the cryptocurrency industry could achieve its first billion users…