Daily Crypto News

1. Crypto project Solana is opening a store in NYC — Located at The Shops, a fancier-than-average mall at Hudson Yards in Manhattan, the store opens to the public on Thursday
2. Creditors take hostile action as crypto firm Vauld seeks bankruptcy protection — Crypto lender Vauld, which halted withdrawals earlier this month, is facing hostile action from multiple creditors, according to a new affidavit reviewed by Moneycontrol.
3. Crypto, traditional markets see bump as Fed raises rates — Both crypto and traditional markets saw significant gains overnight Monday in Asia after the U.S. Federal Reserve announced a 75-basis point interest rate increase to battle the worst inflation in the country in some 40 years.
4. Regulators Target Another Major Platform — The Securities and Exchange Commission is investigating Coinbase. But another crypto exchange is also in the sights of regulators.
5. UK Law Commission Sees Crypto as a New Type of Property — The U.K. Law Commission — a statutory independent body tasked with reviewing and updating the law — wants to extend the country’s property rules to cover crypto and non-fungible tokens (NFT), according to a consultation paper published Thursday.
6. IMF sees stablecoins posing biggest risk to crypto markets — ‘There are others that could fail’ — “We could see further selloffs, both in crypto assets and in risky asset markets, like equities,” Tobias Adrian, Director of Monetary and Capital Markets for the IMF, told Yahoo Finance in an interview.
7. Ethereum price surges amid bounceback, tenth shadow fork going live — Ethereum has been on a tear, gaining 14% in the past 24 hours. The world’s second-biggest cryptocurrency by market capitalization is now up ​​more than 47% in the past 14 days ahead of the Merge.
8. Tether says USDT reserves have no Chinese commercial paper — Tether, the issuer of USDT, the world’s most traded stablecoin, said it doesn’t hold Chinese commercial paper in its reserves and it plans to reduce its commercial paper holdings overall.
9. Nasdaq soars 4% on combination of mega-cap tech earnings and Fed’s 75-basis-point rate hike comments — US stocks soared on Wednesday, with the Nasdaq up more than 4% after the Federal Reserve moved forward with another 75-basis-point interest rate hike, putting the effective Fed Funds Rate at a range of 2.25% to 2.50%.
10. Federal Reserve Hikes US Interest Rate by 0.75 Percentage Point — For the second consecutive month, the Federal Reserve raised U.S. interest rates by three-quarters of a percentage point in an effort to curb inflation running at a four-decade high.

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