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Binance founder Changpeng Zhao pleaded guilty to anti-money laundering charges in November. The DOJ says he should get 3 years in prison.
Market focus is on the Federal Reserve’s potential interest rate hikes due to stubborn inflation, with some investors considering the possibility of rate increases. Recent economic data, including a Consumer Price Index report showing a 3.5% increase in prices from a year earlier, has fueled speculation about the Fed’s next move. Combined with, heightened instability in the Middle East led to Bitcoin (BTC-USD) being sharply sold off. It now trades for around $66,000 at the time of writing. Still
Bitcoin and the broader cryptocurrency market fell nearly 10% on Saturday.