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Key Crypto Takeaways Last Week: #FED, Kraken’s Jesse Powell, Coin98 Releases Decentralized Stakecoin, CUSD

Key Crypto Takeaways Last 7 days: - FED raised interest rates by 0.75% - Kraken’s Jesse Powell left his role as CEO of Kraken - MicroStrategy bought 301 BTC - Nasdaq rolls out institutional crypto custody service - Coin98 launches its decentralized stablecoin, CUSD 1/6

FED raised interest rates by 0.75% - On Sep. 21, FED announced a 0.75% rate hike for the third consecutive time to curb high inflation - This brought the federal funds rate to 3%-3.25%, the highest since 2008 - Upon the news, BTC plummeted to a three-month low 2/6

Jesse Powell left his role as CEO of Kraken - On Sep. 21, Jesse Powell announced to step down as Kraken’s CEO and become chairman of the board - Jesse Powell is an early bitcoin adopter who co-founded Kraken in 2011 - Kraken is currently the fourth-largest crypto exchange 3/6

MicroStrategy bought 301 BTC - On Sep. 20, 2022, Michael Saylor’s MicroStrategy announced the additional purchase of approximately 301 bitcoins, ~ 6 million in cash - This totaled the number of Bitcoin held by the company to approximately 130,000 bitcoins 4/6

Nasdaq rolls out institutional crypto custody service - On Sep. 20, 2022, Nasdaq announced the launch of “Nasdaq Digital Assets” to provide trusted crypto custody solutions to institutions - The new digital asset unit will be headed by Ira Auerbach, a former Gemini executive 5/6

Coin98 launches its decentralized stablecoin, CUSD - On Sep. 19, Coin98 introduced its dollar-pegged stablecoin, Coin98 Dollar, or CUSD - CUSD has the initial supply capped at 50 million - CUSD is a fully collateralized stablecoin supporting USDC and BUSD as collateral 6/6

This post is based on this twitter thread.

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