Crypto Daily Report – June 10

Jun 10, 2022
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightJune 10, 2022This morning, US CPI for May came in at 8.6% YoY - a re-acceleration from the 8.3% print in April - and the highest inflation in 40 years. May's increase was driven primarily by energy (+34.6% YoY), groceries (+11.9% YoY), and shelter (+5.5% YoY). Additionally, while used car prices have declined for the past three months, they reversed higher in May, up 1.8% from April. Following the high inflation print, crypto markets have sold off - down 2.77% and shedding $34 billion in market cap. BTC (-2.47%) is holding up the best while ETH (-4.22%) and other smart contract platforms underperform.The New York Department of Financial Services (NYDFS) has published a framework for stablecoin issuers to follow when collateralizing fiat-pegged digital assets. Under the framework, stablecoins must be fully backed by reserve assets that equal the face value of each stablecoin unit at the end of each business day. Stablecoins must also be redeemable in a timely manner.Jack Dorsey and Jay-Z have launched a Bitcoin educati

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