FBI Arrests 2 Men Planning ‘Violent’ Robbery of Bitcoin Worth Millions of Dollars — They Face 20 Years in Prison

The Federal Bureau of Investigation (FBI) has arrested two men who participated “in a violent plan to break into a family’s home in the middle of the night” to steal bitcoin worth tens of millions of dollars,” according to the US Department of Justice.

Powell: Congress to Receive Guidance from Federal Reserve on CBDC

Federal Reserve Chair Jerome Powell said a digital currency issued by the US Central Bank is ‘a very important potential financial innovation.’

CBDC may threat stablecoins, not Bitcoin: ARK36 exec

A state-backed digital currency like the US dollar doesn’t necessarily have to be a competitor to a decentralized cryptocurrency, one industry exec believes. Central bank digital currencies (CBDC) do not pose any direct threat to cryptocurrencies like Bitcoin (BTC) but are still associated with risks in relation to stablecoins, one industry executive believes.According to Mikkel Morch, executive director at the digital asset hedge fund ARK36, a state-backed digital currency like the US dollar doesn’t necessarily have to be a competitor to a private or a decentralized cryptocurrency.That’s because the use cases and value proposition of the decentralized digital assets “often go beyond the realm of simple transactions,” Morch said in a statement to Cointelegraph on Thursday.The exec referred to Federal Reserve Chair Jerome Powell who earlier this year hinted that the United States government would not stop a “well regulated, privately issued stablecoin” from coexisting with a potential Fed digital dollar.As such, active commitment to the CBDC development does not mean that other countries like Singapore are unfriendly to non-state-backed cryptocurrencies, Morch said.

Fed Chair Powell: We’re Not Seeing Significant Macroeconomic Implications From Crypto Sell-Off

Federal Reserve Chairman Jerome Powell says the central bank is “not really seeing significant macroeconomic implications” from crypto’s volatility.

Ripple CEO criticizes SEC for 'contradictions' on crypto regulations

“The SEC [decided] to do regulation through enforcement, which is not efficient and really I think has stifled innovation in the United States," said Brad Garlinghouse. Brad Garlinghouse, the chief executive officer of Ripple Labs, has claimed the United States Securities and Exchange Commission, or SEC, has inconsistently imposed regulations on crypto firms in the country. Speaking to Wired editor-in-chief at the Collision conference in Toronto on Thursday, Garlinghouse pointed to Ripple’s current legal battle with the SEC, in which the federal regulator has alleged the company’s executives conducted an "unregistered, ongoing digital asset securities offering" with XRP token sales.

US lawmaker lays out case for a digital dollar

"It is now time for Congress to begin the process of considering and ultimately passing authorizing legislation for the issuance of a US CBDC," said Representative Jim Himes. Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC.In a white paper released on Wednesday, Himes urged Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to prevent the government from falling behind in innovations in financial technology.

Bitcoin price rises to $20.7K as Fed's Powell says more rate hikes 'appropriate'

Testimony from the Fed Chair provides no surprises while risk assets meander on the Wall Street open. Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy.BTC/USD 1-hour candle chart (Bitstamp).

Cleveland Fed President Loretta Mester Is ‘Not Predicting a Recession,’ Says Inflation Will Move Down

Cleveland Federal Reserve Bank president Loretta Mester doesn’t think a recession will take place in the United States but believes it will take two years to get inflation back down to 2%.

Sam Bankman-Fried: FTX Has 'Responsibility' to Step In and Stem Crypto Contagion

The FTX CEO said that the “core driver” of the current crypto recession is the Federal Reserve's tightening fiscal policy.

FBI Agent Says Crypto Investment Scams on LinkedIn ‘Significant Threat’ to Consumers: Report

The Federal Bureau of Investigation (FBI) is reportedly saying that crypto-related investment scams on popular professional networking platform LinkedIn are now a serious threat to the public.

US Federal Reserve Raises Concerns About the ‘Fragility’ of Stablecoins Amid Crypto Market Crash

The US Federal Reserve is issuing another warning about stablecoins amid the current crypto market crash.

This Week in Coins: Bitcoin and Ethereum Crash More Than 30% as Recession Fears Loom

The Federal Reserve also introduced the biggest interest rate hike since 1994, and crypto lender Celsius evoked memories of Terra.

Stablecoins highlight 'structural fragilities' of crypto — Federal Reserve

“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors," said the Fed report. The Federal Reserve’s board of governors pointed to stablecoins as a potential risk to financial stability amid a volatile crypto market.In its Monetary Policy Report released on Friday, the board of governors of the Federal Reserve System said “the collapse in the value of certain stablecoins” — likely referring to TerraUSD (UST) becoming unpegged from the United States dollar in May — in addition to “recent strains” in the digital asset market suggested “structural fragilities.” The government department pointed to the President’s Working Group on Financial Markets report from November 2021, in which officials said legislation was "urgently needed" to address financial risks.“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors and potentially to the financial system, including susceptibility to potentially destabilizing runs,” said the Fed report.

SOL price trending toward yearly low as Solana TVL drops $870M in three days

DeFi contagion fears and bearish technicals mean additional downside pressure on Solana price. Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before.Solana price rebound fizzlesNotably, SOL/USD plunged nearly 17% to $30 a token, wiping almost all the gains from the day before.

Bitcoin, Ethereum Technical Analysis: BTC Moves Away From $20,000 Following Historic Fed Rate Hike

Bitcoin moved away from its recent low of $20,000 on Thursday, following a historic rate hike from the Federal Reserve.

BitMEX Co-Founder Benjamin Delo Avoids Prison Time, Receives 30 Months Probation

Delo’s recent settlement of $10 million with the CFTC prompted federal authorities to exercise some leniency in sentencing him.

Ethereum sell-off resumes with ETH price risking another 25% decline in June

Ether price is forming a bear pennant pattern whose profit target comes to be near $850. Ethereum's native token Ether (ETH) slumped on June 16, suggesting that its relief rally coinciding with the Federal Reserve announcing it will hike the benchmark rate by 0.75%, is at risk.Ether bulls trapped?Ether's price slipped by 9.2% to around $1,120 per token a day after it rebounded by 23% after dropping to almost $1,000, its worst level since January 2021.

Bitcoin Touches $21K amid Fed's Interest Rate Hike Hitting a 28-Year High

Bitcoin (BTC) was up by 2.90% in the last 24 hours to hit $21,782 during intraday trading, with news about the Federal Reserve’s interest rate increase of 75 basis points (bps) making airwaves.

BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation

Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020. Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law.The sentence, handed down at a federal court in New York on June 15th, follows his guilty plea to charges in February of “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program” in his role at BitMEX.Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation along with six months of home detention, as was given to former CEO Arthur Hayes in May.For Delo, his lesser sentence closes the legal saga which started in October 2020 which also saw co-founders Hayes and Samuel Reed along with BitMEX’s first official employee Gregory (Greg) Dwyer charged with similar violations.Judge John Koeltl called Delo's violations “very serious” and said that heo knew BitMEX was breaking US laws by not implementing an AML and know your customer (KYC) system.Judge Koeltl noted however that the exchange did later take steps to rectify the issue and become compliant.“When I look back, I see a fundamental failure to address a flaw in our systems," Delo told the court, adding he deeply regrets the actions that brought him in contact with the justice system and vowed that it would be his last brush with it.A citizen of the United Kingdom residing in Hong Kong, Judge Koeltl ordered Delo be allowed to serve his probationary sentence in Hong Kong.

Bitcoin price climbs to $22.5K after Fed 75 basis point hike aims to cap runaway inflation

BTC and altcoins generated nominal gains after the Federal Reserve raised the benchmark interest rate by 0.75%, the largest hike in 28 years. Global financial markets were squarely focused on the US Federal Reserve and its decision to raise interest rates by 75 basis points on June 15, the largest increase in 28 years as the central bank fights to tamp down the highest inflation rates in over four decades. Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) and the wider cryptocurrency market fell under pressure in the early trading hours on June 15 as rumors of the possible collapse of Three Arrows Capital (3AC) spread across the ecosystem, which is still grappling with the ongoing Celsius debacle.

Price analysis 6/15: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB

BTC and select altcoins notched small gains after the Federal Reserve rolled out a 75 basis point rate hike, but technical analysis suggests that further downside is the most realistic outcome. Bitcoin (BTC) plummeted close to the crucial support of $20,000 as traders panicked and dumped their holdings, fearing an aggressive rate hike by the United States Federal Reserve on June 15.

US Central Bank Hikes Benchmark Rate by 75 bps, Fed’s Largest Increase Since 1994

The US Federal Reserve raised the federal funds rate by 75 basis points (bps) on Wednesday, and it was the largest increase since 1994.

Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision

ETH was close to falling below $1,000 on Wednesday, as markets began to prepare for the latest Fed policy meeting.

Seized crypto safe with US Marshals Service? Not so much, new audit reveals

OIG’s audit disclosed the lack of documented policies and practices related to the management of seized crypto assets — especially related to the use of inventory spreadsheets. The Office of the Inspector General (OIG) for the United States Department of Justice conducted an extensive audit of the cryptocurrencies seized by the US Marshals Service (USMS) — revealing the dire need for the federal agency to revamp its existing crypto management and policy systems.OIG’s audit on the seized cryptocurrencies found the USMS implementing adequate safeguards over its storage and access.

Is Fed’s Interest Rate Hike the Biggest Impediment to Bitcoin’s Bullish Outlook?

With speculations high that the Federal Reserve (Fed) will increase the interest rate by 75 basis points (bps) on June 15 to tame inflation, this might dent Bitcoin’s bullish outlook as the leading cryptocurrency continues to trade at an 18-month low.

The Bitcoin Swing Set: Possible Outcomes Of A Dovish Vs Hawkish Fed

Bitcoin shed over 15% in the last 24 hours to around $21k and the whole crypto market sank below $1 trillion on Monday. Whether this gloomy start of the week will be followed by even more downside or some relief, could depend on next week’s meeting of the US Federal Reserve (FED).

JPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed

The US Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps).

Almost $100M exits US crypto funds in anticipation of hawkish monetary policy

“What has pushed Bitcoin into a “crypto winter” over the last six months can by and large be explained as a direct result of an increasingly hawkish rhetoric from the US Federal Reserve,” CoinShares wrote.

Crypto Bank Custodia Sues Federal Reserve for Delaying Approval of Master Account Application

Crypto bank Custodia is filing a lawsuit against the US Federal Reserve for allegedly delaying the approval of its master account application.

Coin Center takes US Treasury to court over alleged financial spying

Coin Center filed a lawsuit against the Treasury Department in federal district court — challenging the enforcement of Section 6050I’s reporting mandate. Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.Coin Center lawsuit information about plaintiffs and defendants.