U.S. Interest Rates, Do Kwon Sentencing: Crypto Week Ahead

Source: CryptoNewsNet Original Title: U.S. Interest Rates, Do Kwon Sentencing: Crypto Week Ahead Original Link: The Federal Reserve meets this week to set U.S. interest rates. The Federal Open Markets Committee (FOMC) is likely to reduce the target rate by 25 basis points to 3.50% to 3.75% when it announces its decision on Dec. 10, according to the CME’s Fedwatch tool. Lower rates often tend to encourage investing in riskier, more volatile assets such as cryptocurrencies and equities in the search for higher returns.

Do Kwon, founder of Terraform Labs, is set to be sentenced Dec. 11 after he pleaded guilty to defrauding investors. U.S. prosecutors recommended a 12-year sentence. The crash of Do Kwon’s UST algorithmic stablecoin and the associated luna token contributed heavily to the brutal 2022 market downturn often called “crypto winter.”

What to Watch

Crypto

• Dec. 8: EstateX (ESX) platform goes live for Unicorn Club members (1M ESX required) and NFT holders; first property put up for sale.
• Dec. 8 (market open): ProCap Financial Inc. (BRR), formed by the merger of Columbus Circle Capital Corp. I and ProCap BTC, LLC, begins trading on the Nasdaq Global Market.
• Dec. 8, 11:30 a.m.: Enjin (ENJ) activates the Senotsa upgrade on the mainnet of both Relaychain and Matrixchain.
• Dec. 8, 1:30 p.m.: Hivemapper (HONEY) AMA on X Spaces.
• Dec. 9: Twenty One Capital begins trading on NYSE under ticker XXI following business combination with Cantor Equity Partners (CEP).
• Dec. 10, 6 a.m.: Kaia (KAIA) Korea AMA on X Spaces.
• Dec. 10: Celo’s Jello hardfork to bring ZK-powered fault proofs to the network.
• Dec. 11, 11 a.m.: Terraform Labs co-founder Do Kwon, who pleaded guilty in August to U.S. conspiracy and wire fraud charges, faces sentencing in New York by Judge Paul Engelmayer. Prosecutors seek up to 12 years, defense requests five.
• Dec. 11, 3 p.m.: Chia (XCH) AMA on Zoom.
• Dec. 12: EstateX (ESX) platform becomes available to everyone; fractional real estate shares are purchasable via PROPX.
• Dec. 13 (approximate): Bittensor (TAO) first halving event will cut daily TAO emissions from 7,200 to 3,600.
• Dec. 13, 12 p.m.: Xelis (XELIS) smart contracts go live on the mainnet.

Macro

• Dec. 9, 7 a.m.: Mexico Nov. inflation rate. Headline YoY (Prev. 3.57%), MoM (Prev. 0.36%). Core YoY (Prev. 4.28%), MoM (Prev. 0.29%).
• Dec. 9, 8:15 a.m.: ADP Employment Change Weekly (Prev. -13.5K).
• Dec. 9, 10 a.m.: The Job Openings and Labor Turnover Survey (JOLTS) report. Sept. Job Openings Est. 7.2M, Sept. Job Quits (Prev. 3.091M).
• Dec. 10, 7 a.m.: Brazil Nov. headline inflation rate YoY (Prev. 4.68%), MoM Est. 0.09%.
• Dec. 10, 9:45 a.m.: Canada central bank interest-rate decision. Benchmark rate (Prev. 2.25%). 10:30 a.m. press conference
• Dec. 10, 2 p.m.: Federal Open Market Committee (FOMC) rate decision (25-basis-point cut to 3.5%-3.75% expected) and economic projections; 2:30 p.m. press conference.
• Dec. 10, 4:30 p.m.: Brazil central bank interest-rate decision. Benchmark rate (Prev. 15%).
• Dec. 11, 8:30 a.m.: U.S. Initial Jobless Claims for week ended Dec. 6 (Prev. 191K), U.S. Continuing Jobless Claims for week ended Nov. 29 (Prev. 1939K).

Earnings

• Nothing scheduled.