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As inflation continues to wreak havoc on the lives of regular Americans, all eyes are on the Federal Reserve's efforts to alleviate the situation in the United States. Meanwhile, while St. Louis Fed president James Bullard wants to quickly raise the benchmark bank interest rate, Atlanta Fed president Raphael Bostic believes that the central bank should proceed with prudence in raising the rate.

While the total value locked (TVL) in decentralized finance (defi) is hovering just above the $214 billion level, a defi protocol known as Lido has been creeping closer to overtaking Curve as the protocol with the most TVL in a defi protocol, according to Blockstream. In addition to Ethereum, Solana, Terra, Polygon, and Kusama blockchain networks, the liquid staking solution Lido currently has $19.2 billion in staking assets sourced from five different blockchain networks, including Ethereum, Solana, Terra, Polygon, and Kusama.

For the first time, the yuan has been included in Israel's central bank reserves, and its allotment for US dollars has been reduced.

According to the CEO of blockchain firm Ripple, 'tribalism' around bitcoin and other cryptocurrencies is dragging back the entire $2 trillion sector.

Ouch! Ouch! Ouch!

The American economy continues to look bleak, and indicators of an impending recession continue to emerge. Goldman Sachs' chief economist stated last week in a note to clients that the bank views the "odds of a recession as around 15% in the next 12 months and 35% in the next 24 months." Additionally, John Mauldin, a prominent financial expert, states that he would not be surprised if the stock market plummeted by 40% this year, as he believes a recession is imminent.

Terra (LUNA) has been aggressive in stockpiling trusted cryptocurrencies as a back-up to its stablecoin UST. This has developed over time to incorporate a variety of different cryptocurrencies, which today total $2.38 billion in reserves.

The CEO of Grayscale Investments outlines how the SEC might potentially violate the Administrative Procedure Act by refusing to approve a spot bitcoin exchange-traded fund (ETF).

Litecoin, one of the first true Bitcoin alternatives, has acquired a sizable following across the crypto-community. While it has never been as popular as BTC, LTC has carved out a niche for itself, and its pricing reflects this.