Today, all eyes are on the hearing between the United States Securities and Exchange Commission (SEC) and Binance, which holds significant implications for the cryptocurrency exchange. The SEC has accused Binance of failing to provide adequate documentation for the case, despite a prior agreement for expedited discovery. BAM, the organization responsible for Binance’s US branch, has submitted 220 documents, but the SEC claims that many of them are unclear screenshots. Both the SEC and Binance have jointly filed a protective order to safeguard sensitive information. The hearing today will focus on this protective order, starting at 13:00 ET.
Inflation figures often have an impact on the price of Bitcoin, as they generate news-related influences. While last week saw the US Bureau of Labor Statistics publishing updates on its Consumer Price Index, this week it’s the European Union’s turn. On Tuesday, September 19th, at 12:00 PM CET, the EU will release essential inflation data, including the Inflation Rate YoY Final, Inflation Rate MoM Final, CPI Final, and Core Inflation Rate YoY Final. These figures will provide valuable insights into the economic situation and potential market trends.
Wednesday holds immense importance, as it will witness two significant events with global implications beyond just cryptocurrencies. The US Federal Reserve will announce its interest rate decision at 2:00 PM ET, followed by a press conference held by Federal Reserve Chairman Jerome Powell at 2:30 PM ET. These announcements will have ramifications across various markets and industries, making it a crucial moment for investors and traders to watch closely.
Another significant deadline falls on Friday, although its impact on the market remains uncertain. This deadline marks the proposals regarding the potential relaunch of the failed FTX exchange. Whether this relaunch will gain traction and affect the market is yet to be seen, but it is certainly an event worth monitoring for those involved in cryptocurrency trading.
This week presents several key events that are likely to shape market dynamics and influence investment decisions. From the SEC hearing determining Binance’s future to the release of inflation data in the EU, and the highly anticipated interest rate decision by the US Federal Reserve, market participants need to stay informed and vigilant. These events have the potential to drive significant changes in the financial landscape, and it is crucial to stay updated with the latest developments.