COINDESK DAILY: Fed Sees Just One Rate Cut This Year; CRV Slides as Curve’s Founder Faces Liquidation Risk
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 June 2024
⏱️ 2 minutes
🧾️ Download transcript
Summary
Host Michele Musso breaks down the latest news in the crypto industry from the Federal Reserve's interest rate decisions to the plunge in CRV tokens.
To get the show every day, follow the podcast here.
"CoinDesk Daily" host Michele Musso breaks down the biggest headlines impacting the crypto industry today, as the U.S. Federal Reserve announced on Wednesday that it expects just one rate cut this year. Plus, Australia's regulators are looking to include stablecoin legislation into its legislative bill for the digital assets sector and the CRV token plunges as Curve founder faces multi-million dollar liquidation risk.
-
This episode was hosted by Michele Musso. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Audible brings your wildest adventures to life, delivering heart-pounding thrills at the touch |
| 0:05.8 | of a button. |
| 0:07.0 | Take Richard Osmond's The Thursday Murder Club, where four retirees turned amateur sleuths |
| 0:11.8 | solve crimes in the most unexpected ways, brilliantly performed by Leslie Manville. |
| 0:17.1 | Ready to unleash your adventure aside, from pulse racing suspense to epic quests, from supernatural |
| 0:22.6 | chills to far-off romances, every story comes alive through world-class narration. |
| 0:28.5 | Explore exclusive audible originals, chart-topping new releases, and unforgettable bestsellers |
| 0:34.4 | that transport you from the very first word, because the next great |
| 0:38.2 | adventure is just a listener way. Start your free 30-day trial at audible.com slash |
| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:51.4 | On Wednesday, the Federal Open Market Committee of the US Federal Reserve. Federal Reserve announced that it's holding its benchmark Fed fund rate range in 5.5.5% but the Fed's economic outlook now calls for just one 25 basis point rate cut this year. |
| 1:07.5 | The hawkish turn in the Fed economic projections took steam out of Bitcoin's rally after the CPI numbers. |
| 1:13.6 | As of 10 a.m. Eastern time, the largest cryptocurrency by market cap is trading at $69,500, down 2.5% on the day. |
| 1:23.6 | Lending protocol curve CRV token plunge 30% in early Asian trading hours. |
| 1:29.1 | This comes as some loan position supposedly tied to its founder Michael Urgolfs started to automatically liquidate. |
| 1:35.2 | Data tracked by Look-on-Chain and RCAM show Yorgov's addresses have taken out a cumulative loan of nearly $100 million worth of stable coins against $140 million in CRV collateral. |
| 1:48.3 | As of 10 a.m. Eastern time, the CRV token is trading below 30 cents after losses of nearly |
| 1:54.0 | 25% in the past 24 hours. And Australia's regulators announced during an event in Sydney on Wednesday that they are looking to include stable coin legislation into its legislative bill for the digital asset sector. |
| 2:07.4 | The regulators have also hinted that more enforcement is on its way against unlicensed entities. |
| 2:13.7 | A representative of the Australian Securities and Investment Commission said they are held meetings with regulators like the SEC about their legal positions on crypto. |
| 2:23.1 | That's it for CoinDest Daily. Get more updates at coin desk.com. I'm Michelle Muso. See you next time. |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.