Jul 26, 2023

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in the cryptocurrency industry, as the U.S. Department of Justice wants FTX founder Sam Bankman-Fried to spend the remainder of his time before his criminal trial in jail.

Video transcript

The Federal Reserve hikes rates and Sam Bakeman freed faces more scrutiny. Welcome to Coin Desk Daily. I'm your host, Jenna Breaking News. Bitcoin is relatively unchanged and trading around $29,300. After a key decision on interest rates from the US Federal Reserve, the Federal Open Market Committee resumed rate hikes after pausing for one meeting, raising its benchmark fed funds rate by a quarter percentage point. The hike was fully anticipated by markets showing a near 100% chance of such an action. Here's what fed chair Jerome Powell said earlier today about the move. I think if you look at core PCE inflation overall, look at it over the last six months, you're just not seeing a lot of progress it's running and it's running at a level of over 4.5% far above our target and not really moving down. We want to see it moving down decisively. That's all Reuters is reporting that prosecutors requested a judge to order Sam Beman freed to be jailed ahead of his upcoming trial in October. During the hearing, the prosecutor reportedly said, quote, no set of release conditions can ensure the safety of the community. The move comes after the Department of Justice accused the former FX CEO of leaking the private diary of ex elevator research, Ceo Caroline Ellison to the New York Times and Binance is heading back to Japan. The largest crypto exchange by trading volume is gearing up to introduce its full service in the country next month. According to Binance, CEO CZ, the exchange is returning to the country two years after receiving a warning from Japan's government agency that it was operating without permission. The entry is possibly due to Binance buying regulated crypto exchange secura Exchange, Bitcoin back in November of last year. The move comes as Binance has withdrawn a request for German regulatory approval. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.

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