US Federal Reserve (FED) chairman Jerome Powell has put pressure on financial markets with his hawkish interest rate increases in recent years. The steps taken by the FED also negatively affected the leading currency #Kripto #Bitcoin ( #btc ) and altcoins.
Recently, CZ, CEO of Binance, the world's largest cryptocurrency exchange by transaction volume, shared a new post on his official Twitter account.
Talking about FED Chairman Jerome Powell's statements about crypto assets, CZ said the following:
“POWELL SAID CRYPTOASSETS ARE “PRODUCTS THAT HAVE SUSTAINABILITY” IN THE US ECONOMY.”
Binance CEO's latest tweet attracted the attention of investors. Citing the news in the Monetary Brief, CZ states that Powell does not think badly about crypto assets.
What Does Jerome Powell Think About Crypto Assets?
US Federal Reserve (FED) chairman Jerome Powell told a recent Congressional hearing that he believes digital assets are showing sustainability as an asset class in the US.
The Fed chairman made this comment while presenting the Fed's Semi-Annual Monetary Policy Report to the House Financial Services Committee. Powell quoted the following words in full:
“CRYPTOASSETS SEEM TO HAVE SOME STANCE IN THE US ECONOMY.”
Some lawmakers and industry experts linked the recent market cap decline of leading cryptocurrency Biticoin (BTC) in the House Financial Services Committee to the collapse of crypto exchange FTX.
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