What Happened in Crypto This Week: Ceasefire Rally Meets Inflation Drag
We had another quite eventful week on the crypto market, with several developments that shaped the way the industry will enter the second half of the year.
Monday – Fed Updates Its Supervisory Model
Monday started out with reports about a hacker going by DayTwo successfully stole $4M from Coinbase users after a phishing scam where the criminal impersonated the exchange’s customer support.
Also on this date, the Federal Reserve announced that it had removed ‘reputational risk’ from the supervisory model. This development is important for crypto because it eliminates a vague justification banks used to deny services to crypto firms, making it easier for the industry to access traditional financial…
