BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Bitcoin

CEO: “Blame the U.S. FED for the Crypto and Bitcoin Twirls”

by Dalmas Ngetich
Jun 20, 2022 - 12:00 am
in Bitcoin
CEO: "Blame the U.S. FED for the Crypto and Bitcoin Twirls"

Sam Bankman-Fried, the CEO of FTX exchange recently blamed the US FED for the crypto market crash. The founder believes the interest rate hike by the Fed has played a major role in killing investors’ interest in the market.

Last week, the Fed increased interest rates in the United States by three-quarters of a percentage point, the highest increase in close to 30 years. While the move is meant to regulate inflation, the crypto and stock markets will be affected as the interest rates hike means a lesser flow of funds into the economy.

In the last few years, crypto proponents have strongly recommended cryptocurrency investments, tagging Bitcoin and other top assets as a hedge against inflation. This proposition has been backed by the performance of these assets in the last five to ten years.

More recently though, it seems cryptocurrencies are not living up to the expectations of many investors. Bitcoin, the most famous crypto asset is about 70% away from its ATH, and so is Ether.

The current economic condition of the United States mirrors that of the COVID era in March 2020. Sam Bankman-Fried believes the Fed’s decisions have resulted in fear on the part of investors, and the current market prices are an indirect result of the Fed’s decisions.

Another CEO Blames the Fed for Economic Instability

Interestingly, Cathie Wood shares the same sentiment with Bankman-Fried. Cathie Wood is the CEO of Ark Invest, and she has blasted the Fed for being more worried about its legacy than the economy.

The Fed seems to be worried more about its legacy than the economy: it is ignoring deflationary and dangerous signals. Relying on lagging inflation indicators like the CPI, Fed Governor Waller is calling for another hike of 0.75% in July.

— Cathie Wood (@CathieDWood) June 19, 2022

The American investor believes the Fed is relying on lagging indicators like the CPI, also noting that another hike in interest rates may be proposed in the coming month. Cathie Wood also mentioned that consumer sentiment is lower today than it was in 2008-2009 and 1980-1982, during the global financial crisis.

She warned that Jerome Powell and other representatives of the Fed may be making the same mistake made by Paul Volcker, the former chair of the Fed. Just like Paul Volcker, Jerome Powell has been increasing interest rates, but using this strategy to curb inflation may be damaging to the economy in the long run.

Tags: BitcoinCryptoFTX
Dalmas Ngetich

Dalmas Ngetich

His primary focus is on technical analysis (crypto is, obviously, *not* crypto without the twirls of price action), the magic of DeFi, and NFTs. He is specifically training his eyes and effort on DeFi—and how the tech is changing investment, opening up opportunities for everyone—and the possibilities of NFTs.

Related Posts

Ethereum logo over a digital network representing global trustware infrastructure

Ethereum’s ‘Trustware’ Vision Could Propel ETH to $15.8K by 2028 Consensys

July 16, 2025

Consensys sees Ethereum evolving into global trustware, predicting ETH could reach $15.8K by 2028 as demand for secure...

blockchain

OKX and PayPal Partner to Simplify Crypto Buying Across Europe

July 14, 2025

OKX teams up with PayPal to offer seamless crypto access in Europe, removing banking friction and boosting trust...

Bhutan’s Bitcoin wallet activity spikes as BTC reaches new all-time highs

Bhutan Moves $74M in Bitcoin to Binance as BTC Hits Record Highs

July 14, 2025

Bhutan moves $74M in Bitcoin to Binance amid BTC's record surge, signaling possible profit-taking as the country’s total...

Michael Saylor prepares to resume Bitcoin purchases after brief pause

Michael Saylor Hints at New Bitcoin Buy as Strategy Pauses End

July 13, 2025

Michael Saylor says Strategy will resume Bitcoin purchases after a one-week break, continuing its lead among BTC treasury...

Press Releases

png 115

BTC Miner: Earn $100-$100,000 Daily – The Fastest Growing Crypto Mining Platform of 2025!

June 25, 2025

BTC Miner, the fastest growing platform in 2025, opens a new era of inclusive cryptocurrency mining, allowing everyone to participate...

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise