US CPI Inflation Slows To Annual Rate Of 6.5% – January 12

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$18,122

Bitcoin price has broken the $18,000 mark for the first time since almost a month ago, as the asset continues its recovery from recent lows.

Top-20 altcoins are performing well also, as Ether gains 5%, BNB rises 2% and Avalanche stands out with a 20% jump.

Top Stories for January 12, 2022 🔥

👉 US CPI Inflation Slows To Annual Rate Of 6.5%

Inflation subsided in December, with the Consumer Price Index rising at an annual rate of 6.5%. Core prices, which exclude energy and food, also rose 5.7% from the year before.

Prices fell by 0.1% between November and December, due to lower costs for certain goods offsetting increases in others. Despite the decrease, experts still believe that inflation is too high for the Fed to be comfortable.

Bitcoin has rallied on the news, however, perhaps indicating that the market believes the Fed will relax its policies.

👉 DCG Owes Creditors More Than $3B, Considers Sale Of $500M VC Portfolio

According to a report from the Financial Times, crypto broker Genesis Global Trading allegedly owes its creditors over $3 billion. Parent company Digital Currency Group (DCG) is seeking to sell part of its venture capital holdings to offset the shortfall.

DCG’s venture arm has over 200 crypto-related projects with a total valuation of around $500 million. Genesis has reportedly hired investment bank Moelis to explore strategic alternatives, but little interest in capital infusion has been shown.

👉 Crypto Broker Lays Off 28% Of Workforce, a cryptocurrency brokerage, has announced that it will let go of 28% of its workforce, or about 110 employees. This comes after the company was forced to cut about 150 staff in July due to a $270 million hit on loans it made to failed hedge fund Three Arrows Capital. is now left with a staff of 280, having grown from 160 employees at the start of 2021. CoinDesk estimates nearly 27,000 jobs have been lost across the industry since April of last year.