Weekly Crypto Market News / 5 – 11 December

Swing of the algorithmic and overcollateralized stablecoin USDD by Justin Sun

It is dangerous to play on it, according to rumors, because Justin has the ability to manipulate the price of the asset. But there are other rumors that half of the collateral in TRX is illiquid, and all USDC is jUSDC, which is recognized as a loan through JustLend.
Read more on @WuBlockchain channel.

And what if the Fed deceives…

Ahead of December’s key financial event, the S&P 500 and Bitcoin have begun to lay the groundwork for a tougher Fed. And investors finally realized that the rate will continue to rise in any case, just maybe not so quickly 😬

Our news feed today can be named as a “FUD and others:”

• An American senator asks why cryptocurrencies should even exist.
• Sam Bankman-Fried tells how he will come up with a new business and repay everyone’s debts.
• The founder of Terra, Do Kwon was found in Serbia. He’s definitely not hiding from anyone; just hanging out there.
• Binance’s liabilities are 101% backed by reserves, according to a Mazars report
• Tether launched CNH₮ stablecoin pegged to the yuan.
• Ledger presented a new hardware wallet named Stax.
• Circle, the issuer of USDC, refused to go public

Elon Musk: if the Fed raises interest rates next week, the recession will intensify significantly. And they will raise, and Elon risks can lose the status of the richest man in the world for a long time.