Market Update - September 22, 2023
- Bitcoin has an up-and-down week as Mt. Gox delays repayments: Bitcoin (BTC) started the week off rallying from 26.5k USD to 27.4k USD before paring its gains by Friday. Mt. Gox trustees delayed repayment of more than 140,000 BTC and other cryptos by a year, extending the deadline to October 2024.
- Fed holds rates steady as one more hike expected this year: In line with expectations, the US Federal Reserve held its target benchmark interest rate at 5.25%-5.5%. One more hike is expected by the end of 2023, with interest rate cuts anticipated starting next year.
- Judge blocks the SEC from immediately reviewing Binance.US software: The SEC faced a setback in its case against Binance.US, as a judge blocked the agency from immediately reviewing the exchange’s software. A follow-up hearing is slated for October 12.
- Optimism completes third community airdrop and plans private sale: Optimism (OP) airdropped ~19.4 million OP tokens (~$27 million USD) to eligible users. The team also announced a private sale of 116m OP tokens (~$162 million USD) to seven buyers.
🪂 Topic of the Week: Crypto Airdrops
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