UK Reaches Four-Decade High Inflation – August 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $23,328

Bitcoin price is sliding down toward the $23,000 today, as price continues to drop after a failed break-out through $25,000 earlier this week.

Top-20 altcoins are also taking a hit, as Ethereum drops another 3%, BNB also falls 3% and Solana tumbles 5%.

Top Stories for August 17, 2022 πŸ”₯

πŸ‘‰ UK Reaches Four-Decade High Inflation At 10.1%

The United Kingdom has reached double-digit inflation for the first time in four decades, as the Consumer Price Index (CPI) figure as of July reaches 10.1%.

Fuel, transport, food and beverages have been the main contributors to the CPI rise. The new figure places the UK amongst more than 2 billion people globally in a double-digit inflation environment, along with the likes of Pakistan, Nigeria and Brazil.

πŸ‘‰ Senator Claims FDIC Is Stonewalling Banks Expanding To Crypto

Senator Pat Toomey has claimed that the Federal Deposit Insurance Corporation (FDIC) may be stonewalling banks that are attempting to do business with crypto-based businesses.

A letter to the FDIC from Toomey discloses that whistleblowers say the FDIC has asked member banks to avoid expanding relationships with crypto companies, or extend credit to them.

πŸ‘‰ “Meme Tokens” Are Rallying, Is It A Top Signal?

So called “meme tokens” such as Dogecoin (DOGE) and Shiba Inu (SHIB) are currently rallying – historically a signal of a market-wide crash to come, according to some.

Trader and analyst Alex Kruger says this may not be the case this time, due to fundamentals propelling the run. Dogecoin, in particular, has just launched its Ethereum-compatible Dogechain, a smart-contract network.