Bitcoin and Ethereum both saw late recoveries Monday afternoon following new comments by Federal Reserve Chairman Jerome Powell about expected rate increases next year. Bitcoin and Ethereum have both been up and down over the last week, but well short of the all-time highs they set last month.
Along with Powell’s comments Wednesday, the volatility follows new economic uncertainty brought on by the Omicron COVID variant, ongoing comments by U.S. officials and lawmakers on crypto regulation, and the $1.2 trillion infrastructure bill signed by President Biden last month that includes crypto tax provisions.
Meanwhile, NBA superstar Kevin Durant will become a prominent face of crypto platform Coinbase. SEC Chairman Gary Gensler further emphasized the need for more crypto regulation by publicly requesting crypto exchanges to “come in, work with the SEC.” Visa is launching crypto consulting services to support more mainstream adoption of Bitcoin and other digital currencies among financial institutions and retailers. Here’s more on the latest crypto news that investors should know about
- Bitcoin jumped back above $49,000 and Ethereum increased to above $4,000 Wednesday afternoon, improving on where both started the day. Bitcoin…
