Mazars Group Discontinues Crypto Engagements, Hong Kong Lists First Crypto ETFs
Dec 16, 2022
Markets continue their decline as recession concerns mount on the back of the 50bps hike from midweek and the European Central Bank’s unprecedented hawkishness. Gains from slowing inflation data were mostly reversed by the Fed’s revised forecast and slowing retail sales yesterday. ^SPX (-1.6%) and QQQ -1.77% (-1.3%) are both posting their fourth down day, while digital asset markets have shed 4% of its market cap in the past 24 hours. BTC (-3.3%) and ETH (-6.2%) have broken $17k and $1.2k levels, respectively. 87 of the top 100 crypto assets by market cap are trading lower in the last week, indicative of the sentiment change throughout the space.