THE HASH: HEADLINES - Top Stories of the Week
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 July 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
A roundup of the week’s most valuable crypto stories for Saturday, July 30, 2022.
Missed any episodes of “The Hash” this week? Today’s recap episode will get you caught up.
“Hash Headlines” rounds up this week’s headline stories, including:
- The U.S. Federal Reserve raised rates another 75 basis points.
- A reported Securities and Exchange Commission investigation into crypto exchange Coinbase on suspicions that it allowed trading of unregistered securities.
- Cathie Wood’s Ark Investment Management sold more than 1.4 million shares of Coinbase Global.
- Facebook parent Meta Platforms lost $2.8 billion on its metaverse division in the second quarter.
See also:
Federal Reserve Hikes US Interest Rate by 0.75 Percentage Point
SEC Probing Coinbase for Allegedly Listing Securities: Report
Cathie Wood's Ark Invest Offloads Over 1.4M Coinbase Shares as COIN Price Falls
Facebook Parent Meta Loses $2.8B on Metaverse Division in Q2
This episode has been produced and edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is by Matt Wigton “Angeles Crest.”
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | You're listening to the hash headlines on the CoinDest Podcast Network. |
| 0:11.4 | And just a reminder, CoinDesk is a new source and does not provide investment advice. |
| 0:34.2 | Welcome, everybody. It is Monday, and probably the biggest thing that everybody everywhere in markets should be paying attention to this week is the Fed is having an open markets committee and is expected to raise rates. And I strongly encourage everybody who's interested to read this piece by our colleague |
| 0:39.3 | on Kark Godball, who did a great rundown of all of the factors going into this meeting. |
| 0:44.3 | Basically, we have an interesting situation where there have been some signs of cooling inflation, |
| 0:50.3 | but there's still a lot of consensus that the Fed is going to do a 75 basis point or three-quarter |
| 0:55.9 | of a percentage point hike, which is quite a bit. And Omkar highlights some interesting stuff |
| 1:02.0 | about that sort of conflicting set of trends or indicators. And obviously, rising interest rates |
| 1:08.5 | have implications for crypto, which is a speculative asset |
| 1:12.0 | that could be hurt by rising rates on things like Federal Reserve notes. |
| 1:17.0 | Lots to think about lots of interesting signals. |
| 1:20.4 | We could wind up a little bit under the projection. |
| 1:22.7 | Most likely we're going to get 75. |
| 1:24.6 | David, for people who are just getting into crypto, maybe in the last year, |
| 1:29.2 | they got in via, you know, NFTs or whatever, and they're just still kind of figuring out the |
| 1:34.0 | markets, what should they be taking away from this? It's really simple and huge, which means that |
| 1:39.0 | it's easy to understand, but the implications are hard to totally suss out. But very high level, higher interest |
| 1:46.4 | rates, which are being pulled up to fight inflation, do have broad negative implications for |
| 1:53.7 | speculative stocks or assets of all kinds, because the rate of return on low risk assets goes up relative to the rate on higher risk |
| 2:04.5 | assets. And so people just pull money out of things like startup stocks or crypto and move some |
| 2:11.0 | amount of it into Fed, treasuries, things like that. And so that has an impact. The other thing |
| 2:17.1 | that I would note for people, |
... |
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