Compromised Ledger Software Sparks Flash-Crash, FASB Publishes "Fair-Value" Accounting Standards for Digital Assets
Dec 14, 2023
Market Update U.S. equity indices are mixed following yesterday's FOMC’s meeting, which confirmed board members are forecasting multiple rate cuts throughout 2024. The meeting was more dovish than expected, sparking significant moves down in the DXY and Treasury yields. Crypto markets had a scare this morning when a Ledger software issue was detected (more below) causing Bitcoin to drop over 3% in three minutes, with sharper drops in altcoins. Assets have since recovered most of the move, with $BTC (+0.12%) now trading at $42.9k and $ETH (+1.23%) hovering around $2,290. Decentralized infras