Important Upcoming Events in the Crypto Market: Federal Reserve’s Interest Rate Announcement, FOMC Meeting, and Binance vs. SEC Hearing to Garner Interest

Important Upcoming Events in the Crypto Market: Federal Reserve's Interest Rate Announcement, FOMC Meeting, and Binance vs. SEC Hearing to Garner Interest

The cryptocurrency market is gearing up for a volatile week ahead, as plenty of major events have the  capacity to impact investor sentiment and alter price trends. These events include the Federal Reserve’s interest rate decision, the Federal Open Market Committee (FOMC) meeting, and the hearing of the legal battle between Binance and the United States Securities and Exchange Commission (SEC).

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FOMC Meeting: The question on everyone’s mind is whether the Fed will raise interest rates again in 2023. With inflation remaining over the 2% goal and a strong economy, United States central bankers are expected to sustain a leaning towards stricter policy during their upcoming meeting. This could induce market volatility, with recent trends suggesting a probable 1% fluctuation.

Bitcoin, as of now trading comfortably over bearish levels at $26K, did not experience whole lot of volatility following last week’s CPI data.

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Binance Vs. SEC Hearing: Another key event to watch out for is the court hearing between Binance and the SEC. A ruling in favor of the SEC could lead to a market sell-off, while a decision supporting Binance may spark buying demand.

The SEC has presented evidence against Binance United States, accusing the exchange of non-compliance with a prior consent order. Binance United States, on the other hand, argues that the SEC’s demands in an emergency order are unwarranted.

The ongoing lawsuit has already influenced investor confidence and trading volumes, as plenty of officials from Binance and Binance United States have departed. The SEC has submitted 31 exhibits to facilitate its motion against Binance United States, with Magistrate Judge Faruqui scheduling the next hearing for September 18.

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Legal Developments

On September 15, the SEC moved to unseal or withdraw its previous motion to seal documents related to the Binance case. Both parties have agreed to disclose numerous SEC filings from the previous  30 days. The SEC has expressed concerns about Binance U.S.’s failure to adequately separate its wallets, systems, and personnel from Binance.

If the SEC wins the case, Binance could face whole lot of fines, operational restrictions, and strict oversight of its BNB token. In addition, CZ (Changpeng Zhao), the CEO of Binance, may be permanently banned from running financial corporations. The SEC alleges that $2.2 Billion of presumably U.S.-based funds are at risk due to Binance United States, and these assets may be confiscated if linked to illegal activities.

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Hot Take: Crucial Week Ahead for Cryptocurrency Market

The upcoming week is set to be a critical one for the cryptocurrency market as it faces major events that could significantly impact investor sentiment and price trends. The Federal Reserve’s interest rate decision and the FOMC meeting will provide insights into the central bank’s stance on monetary policy and its implications for digital currencies like Bitcoin.

In the meantime, the court hearing between Binance and the SEC will determine future of the one of the world’s largest digital currency exchanges. A ruling in favor of either party could have far-reaching consequences for market participants.

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As these events unfold, it is critical for cryptocurrency investors to stay notified and closely monitor market developments. Volatility is expected, and being prepared for sudden shifts in sentiment can help navigate this dynamic landscape effectively.

Author – Contributor at | Website

Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content.

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