Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Fed hikes interest rates by 50 basis points in effort to combat inflation

On Wednesday, the United States Federal Open Market Committee (FOMC) voted to raise interest rates by 0.5%, marking its biggest upward adjustment in over two decades. It was the second rate increase of 2022, with seven increases expected in total for the year.  

In a press conference following the FOMC meeting, Federal Reserve Chair Jerome Powell further cemented the need to continue raising interest rates to combat inflation.

 

 

 

Coinbase took out the first Bitcoin-backed loan from Goldman Sachs

Coinbase took an important step toward bridging the mainstream world and the crypto world by using Bitcoin as collateral for a loan with Goldman Sachs. The actual mechanics of the deal involved Coinbase taking out a loan from Goldman that was collateralized with some of the exchange’s BTC holdings. Amounts were not specified, however. 

“Coinbase’s work with Goldman is a first step in the recognition of crypto as collateral which deepens the bridge between the fiat and crypto economies,” Brett Tejpaul, head of Coinbase Institutional, told Bloomberg.

 

Binance commits $500M to co-invest in Twitter with Elon Musk

In April 2022, Tesla CEO Elon Musk unveiled his intent to purchase Twitter, pending certain approvals, for…


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