Bitcoin Collapses to 10-Week Lows, Binance Backs Musks Twitter Deal With $500M: This Weeks Crypto Recap

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-Bitcoins price crashed to levels that we last saw on the day that Russia invaded Ukraine. Moreover, the entire market lost over $150 billion of its capitalization as the past 24 hours caused nothing but mayhem in the industry.
-BTC crashed from $39.5K to $36K in less than a couple of hours, leaving over $100 million worth of liquidated positions in the process.
-The US Federal Reserve announced another rate hike within the limits of the expected 0.5%. The goal is to combat the growing inflation.
-Yuga Labs went through with the much-anticipated launch of their Otherside NFT drop. The demand for it was so high, causing ETH gas prices to soar and turning Ethereum into a deflationary asset for a brief period of time.
-The leading cryptocurrency exchange has managed to achieve a major milestone. The company got registered as a Digital Asset Service Provider (DASP) in France by the countrys stock market regulator.
-The US Federal Reserve announced another 0.5% rate hike in an attempt to battle the increasing inflation. This was the highest hike in 22 years that was voted in during the latest FOMC meeting that took place this week.
-In an exclusive interview with CryptoPotato, Tethers CTO Paolo Ardoino revealed that the company behind the worlds largest stablecoin by means of market cap has no intentions of going public.
-Brad Garlinghouse the CEO of Ripple believes that the lawsuit between the company and the United States Securities and Exchange Commission could be resolved by the end of this year.

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