Binance’s $6.3B breach, Fed rate pause, CFTC plans | Weekly recap
In this week’s edition of the weekly recap, Binance has reported a $6.3 billion breach, the Federal Reserve has held interest rates steady, and the CFTC has advanced plans for voluntary crypto exchange registration. Binance pledges to cover losses after…
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Federal Reserve
The central bank of the United States, which sets US interest rates and supervises banks.
Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.
More about Federal ReserveInterest rate
The price of borrowing money, expressed as a percentage of the amount borrowed. A central bank sets a benchmark rate that other rates follow.
It decides how much people pay on loans and mortgages and how much savers earn, and it is the main tool for fighting inflation.
More about Interest rateCryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
More about CryptocurrencyMore in Crypto
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