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SEC Struggles to Contain Crypto Surge: Surprising Victories Uncovered

In the world of cryptocurrency, there have been recent developments with the SEC facing setbacks in court battles. Jerome Powell, the Federal Reserve Chairman, discussed higher interest rates and a faster pace of inflation. He also mentioned the need for attention to stablecoins in the crypto market, citing concerns about fraud, lack of transparency, and running risks. The market has responded to Powell’s comments by selling off, and there is now a 60% probability of a 50 basis point hike at the next meeting. This has implications for risk assets, mortgages, and treasuries. In other news, Binance US has been allowed to acquire Voyager Digital assets despite objections from the SEC, and Grayscale is now favored to win a case against the SEC, potentially unlocking $5.5 billion in value for GBTC shareholders.

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