Bank Of Canada To Pause Future Interest Rate Increases – January 25

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$22,594

Bitcoin price seems to be losing a little steam on its recent rally, retreating to the mid $22,000s to begin Wednesday.

Top-20 altcoins are mostly down today, as Ether drops 4%, BNB falls 5% and Shiba Inu sees a 6% decline.

Top Stories for January 25, 2022 🔥

👉 Bank Of Canada To Pause Future Interest Rate Increases

The Bank of Canada has announced that it will temporarily pause on any future interest rate increases, after increasing its benchmark overnight rate by 25 basis points to 4.5%.

It has cited that inflation is projected to come down significantly this year, adding that if economic developments evolve as expected, the policy rate will be held at its current level while the impact of the cumulative interest rate increases is assessed.

👉 DCG’s Luno Exchange Cuts 35% Of Staff

London-based crypto exchange Luno, owned by Digital Currency Group, has reduced its workforce by 35%. The firm told employees about the layoffs earlier today and had a total headcount of 960, meaning over 330 jobs will be lost as a result of the cuts.

The company has come under increasing pressure as the crypto downturn intensified amid a turbulent macroeconomic backdrop, with the collapse of crypto hedge fund 3AC in June and the failure of FTX in November exacerbating the firm’s underperformance.

Luno says that customers and operations will not be impacted and that customer funds are safe.

👉 Uncensored BlockFi Financial Reveal $1.2B In FTX Exposure

Bankrupt crypto lending firm BlockFi has accidentally uploaded uncensored financials, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and trading firm Alameda Research.

The unredacted filings show that as of January 14, BlockFi had $415.9 million worth of assets linked to FTX and $831.3 million in loans to Alameda. The financials were leaked as part of a presentation by M3 Partners, an advisor to the creditor committee, which has admitted the filing was uploaded in error.