Brazil Legalizes Crypto as Payments, North Korea Reported to Be Behind $1.2b in Hacks
The modest 0.1% rise of Personal Consumption Expenditure (PCE) price index and 0.4% increase in personal income spending in November buoyed markets this morning, with ^SPX (+0.4%) and QQQ 0.50% (+0.2%) trading higher from open. Given PCE is the Fed’s preferred gauge of inflation, the data further supports the Fed’s winning battle against rising prices amidst a tight labor market. Digital asset markets are exhibiting lower correlations of late, with BTC and ETH still hovering below $17k and $1.25k respectively. Luna Classic (LUNC) gained 6% on the day on rumors of a Coinbase purchase, while fan token platform Chiliz (CHZ) shed 21.8% of value in the week after the World Cup. Liquid staking provider Lido DAO (LDO) slid 19% lower on the week despite announcing Solana v2 to be live on Solana.Â