Tether Reveals $4.5 Billion Q1 Profit, CZ Sentenced to "4" Months in Prison
Risk markets were selling off before today’s FOMC meeting where it was unanimously voted to keep interest rates steady. The Fed announced it would be reducing the speed of its balance sheet taper from $60 billion per month to $25 billion per month, a larger than expected reduction. Following the announcements and Chair Powellâs comments, yields turned sharply lower with the US10Y falling 9 basis points while equity indices rose. The SPY 0.09% and QQQ have gained by 1.17% and 1.24%, respectively. BTC (-2.70%) has pared losses to $59k after reaching a low of $56.5k early this morning, while ETH (-0.67%) is trading just below $3k. Despite the large drop in Bitcoin, altcoins are showing relative strength, with Bitcoinâs dominance ratio dropping 1.57%. Layer-2 networks are a few of the leaders in the top-100 tokens today, with OP, MATIC, and STRK all increasing by more than 4%.
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