The U.S. dollar is a global reserve and invoicing currency, playing a major role in international debt, non-bank borrowing, and global trade. When the dollar appreciates, USD-denominated debt becomes expensive, which, in turn, disincentivizes risk-taking in financial markets. A weaker dollar has the opposite effect. As such, over the years, bitcoin and the broader crypto market have tended to move in the opposite direction of the DXY, just as stocks and gold.
Changpeng ‘CZ’ Zhao faces reduced jail time as judge rejects DOJ request
The judge has diverged from DOJ’s 36-month proposal. Some believe the judge is leaning towards a 10 to 16-month sentence....