AI altcoins are pumping — Is this the beginning of the next bull market? The Market Report
This week on The Market Report, the resident experts at Cointelegraph discuss what artificial intelligence (AI) altcoins are, what their potential benefits are, how they work, and whether they can be a catalyst for a 2023 bull market.
We start off this week’s show with the latest news in the markets:
BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week on a promising footing, with BTC price action near one-month highs — but can it last? The move precedes a conspicuous macroeconomic week for crypto markets, with the December 2022 Consumer Price Index (CPI) print due from the United States. Jerome Powell, chair of the Federal Reserve, will also deliver a speech on the economy, with inflation on everyone’s radar. Inside the crypto sphere, FTX contagion continues, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency problems at subsidiary Genesis Trading. Our resident experts take a look at these factors and more as the second trading week of January gets underway.
Digital Currency Group under investigation by US authorities: Report
Crypto conglomerate Digital Currency Group, or DCG, is under investigation by the U.S. Department of Justice’s Eastern District of New York and the Securities and Exchange Commission, according to a Bloomberg report.
The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm, Genesis Global Capital, according to the report, which cited people familiar with the matter. Prosecutors have already requested interviews and documents from both companies, while the SEC is running a similar early-stage inquiry.
We discuss what impact this could have on the crypto
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