Posted 1 month ago | by Catoshi Nakamoto
Inflation numbers rise to the highest they’ve been in 4 decades…Jen Psaki keeps her eyes on Putin as we keep our eyes on the charts while an explosive announcement rocks the XRP community. My name is Ben. This is your crypto nightly news wrap up.
Let’s get it!
The CPI numbers are here and it’s set ANOTHER record. This is what White House press secretary Jen Psaki had to say.
She wasn’t lying when she said the numbers would be “extraordinarily elevated.” The CPI jumped 8.5% from a year ago, which marks the highest inflation rise since December 1981. (Source) In the past two months alone, overall goods prices have jumped up 2% and Psaki and the white house point are pointing the finger at Russia calling this “Putin’s Price Hike.” (Refer to “Annual price changes in March” Chart) The U.S ban of Russian Oil imports has caused an 18.3% increase in Gasoline prices in the span of one month and energy prices as a whole are up 32% from last year. So yes, they’re right that the Russian invasion of Ukraine holds a fair share of responsibility for the increased CPI, but to deflecting all the heat and blame the entire inflation issue on Putin isn’t exactly fair either. The central bank has spent the past 10 years devaluing the dollar and America was burning through money faster than Gerald Cotton… well before Putin’s invasion. So how will this affect the crypto market? Good Question. Let’s go to Frankie Candles for a breakdown:
But I can’t sign off without telling you what happened over at the SEC. Judge Sarah Netburn denied the SECs motion for reconsideration of the DPP ruling that the 2018 DCF speech from Bill Hinman WAS Agency guidance. This is after the SEC had stalled the trial and demanded that the Hinman speech WASN’T agency guidance. Judge Netburn said NUH UH – you can’t have it both ways Gare-Bare. You can’t say that Himan wasn’t making SEC guidance and then change your mind when the trial isn’t going your way. Judge Netburn went on to say “The SEC has failed to demonstrate that the Court overlooked any factual matters that were put before it in deciding the privilege’s applicability to Entry 9 of Appendix A. Its motion for reconsideration is denied.” Kill shot. This is considered by many to be the nail in the coffin for the SEC and even though it has 14 days to file an objection, legal minds agree that there is no there there for the District Judge to consider. After this news it wasn’t surprising to see XRP battle Solana for marketcap even as the rest of the markets bled out. The next two weeks will be telling and the XRP Army should be on high alert in case the SEC finally capitulates.
That’s all I got, be blessed, Bitboy out!