$432M In Liquidations As Market Considers 100BP Rate Hike – September 19

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,159

Bitcoin price is sitting just above the $19,000 mark, as it partially recovers from a flash-crash to the low 18,000s overnight.

Top-20 altcoins are down across the board as Ethereum falls 5%, BNB drops 3% and XRP sees a 7% price decline.

Top Stories for September 19, 2022 πŸ”₯

πŸ‘‰ $432M In Liquidations As Market Considers 100BP Rate Hike

A “flash-crash” in the crypto market has liquidated $432 million in positions, as the market considers the possibility of a 100 basis point interest rate hike by the Federal Reserve.

The likelihood of a record-setting interest rate hike is looking higher than ever after recent CPI inflation data, calculating 8.3% year-over-year inflation. The next Federal Open Market Committee meeting is due for September 21, during which new interest rates will be decided.

πŸ‘‰ Financial Watchdog Says FTX Exchange Not Authorized In the UK

The Financial Conduct Authority (FCA) says that crypto exchange FTX is not authorized to provide services to UK customers, according to a note published this week.

An FTX spokesperson says that it believes a scammer is impersonating the company, however, noting that the phone numbers listed by the FCA are linked to a crypto scam.

πŸ‘‰ South Korea Ask Interpol To Issue Red Notice For Terra Founder

South Korean authorities have asked Interpol to issue a “red notice” for Do Kwon, founder of the Terra blockchain. Red notices are issued for fugitives wanted for prosecution.

Kwon is allegedly refusing to cooperate with an investigation into the collapse of the Luna blockchain and TerraUSD stablecoin – which resulted in $40 billion in losses for token holders and related parties.