Economy

Crypto markets were roiled in 2021 by the billionaire Tesla CEO Elon Musk, tweet by tweet. (Getty Images, modified by CoinDesk)
Volatility Ruled Crypto Markets in 2021, From $69K Bitcoin to Elon Musk’s ‘Dogecoin to the Moooonn’
NFTs exploded, Coinbase stock went public, El Salvador bought the dip and China cracked down on bitcoin miners, while Solana’s SOL tokens and Polygon’s MATIC shot up by multip...
Crypto markets were roiled in 2021 by the billionaire Tesla CEO Elon Musk, tweet by tweet. (Getty Images, modified by CoinDesk)

Federal Reserve Chair Jerome Powell speaks Wednesday at a press conference. (Federal Reserve, modified by CoinDesk)
Fed Speeds Up Stimulus Withdrawal, and Bitcoin Jumps
The Fed will reduce its bond purchases by $30 billion every month to wind them down early next year, doubling from the current pace of withdrawal of $15 billion every month.
Federal Reserve Chair Jerome Powell speaks Wednesday at a press conference. (Federal Reserve, modified by CoinDesk)

Consumer Price Index Report (CPI report) data shows fast rise in inflation. (Bureau of Labor Statistics)
US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls
Prices for bitcoin, seen by a growing number of investors as a hedge against inflation, jumped 2% after the CPI report from the U.S. Department of Labor’s Bureau of Labor Stat...
Consumer Price Index Report (CPI report) data shows fast rise in inflation. (Bureau of Labor Statistics)

Bitcoin 24 hour price chart (CoinDesk)
Market Wrap: Bitcoin Extends Losses While Traders Remain Bullish on Ether
Weekly returns were mixed as some altcoins outperformed. Meanwhile, macro headwinds could cause investors to reduce exposure to speculative assets next year.
Bitcoin 24 hour price chart (CoinDesk)

Federal Reserve Chair Jerome Powell testifies Tuesday before the U.S. Senate Banking Committee. (C-Span)
Bitcoin Turns Lower as Fed Chair Suggests Inflation No Longer ‘Transitory’
Federal Reserve Chair Jerome Powell’s turnabout suggests the U.S. central bank might move more quickly to tighten monetary policy – potentially a negative for speculative asse...
Federal Reserve Chair Jerome Powell testifies Tuesday before the U.S. Senate Banking Committee. (C-Span)

Bitcoin drops below $58,000 on Nov. 26 amid growing covid fears (CoinDesk, highcharts.com)
Bitcoin Slips to $55K as Renewed COVID Concerns Jolt Traditional Markets
The cryptocurrency appeared set for a breakout above $60,000 after Thursday’s rise, but COVID fears played spoilsport.
Bitcoin drops below $58,000 on Nov. 26 amid growing covid fears (CoinDesk, highcharts.com)

Federal Reserve Chair Jerome Powell, earlier this month. (Federal Reserve, modified by CoinDesk)
Biden to Renominate Powell as Fed Chair and Appoint Brainard as Vice Chair
The president cites Powell’s stewardship of the economy during the pandemic.
Federal Reserve Chair Jerome Powell, earlier this month. (Federal Reserve, modified by CoinDesk)

Money Reimagined Podcast Cover
New Money and Contemporary Capitalism With Brett King and Patrick Murck
Does new money technology allow us to get away from some of the core tenets of contemporary capitalism?
Money Reimagined Podcast Cover

Federal Reserve Chair Lael Brainard (C-Span, modified by CoinDesk)
Biden and the Fed: Why Powell or Brainard Won’t Change Much for Crypto
Both candidates are seen as taking a tough stance on crypto regulation, but they’re also both seen as dovish – possibly beneficial for bitcoin’s inflation narrative.
Federal Reserve Chair Lael Brainard (C-Span, modified by CoinDesk)