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Both WTI and Brent crude oil prices rose by $0.60 in the short term, reaching $69.20 and $72.65 per barrel, respectively.On June 26th, Federal Reserve official Neel Kashkari stated that widespread signs of inflation led him to anticipate one interest rate hike this year in the Feds economic projections released earlier this month. Interest rates are expected to remain unchanged until 2027. In a media interview on Friday, Kashkari said, "Im concerned about inflation, and its not just about the situation in the Middle East, but rather a manifestation of broader inflationary pressures in the economy." The war in Iran has pushed up oil prices, and prices across many categories have also risen. This has exacerbated concerns among some Fed officials that inflation is becoming more widespread and persistent, potentially requiring stronger central bank action. A report released earlier this week showed that the PCE annual rate in May reached 4.1%, the largest increase since April 2023. Prices have exceeded the Feds 2% target for over five years. In the Feds dot plot projections released last week, half of the officials who provided dot plot projections expected at least one interest rate hike this year.Federal Reserves Kashkari: The goal is to reduce inflation without harming employment.The German DAX 30 index closed down 328.90 points, or 1.32%, at 24,671.64 on Friday, June 26; the UK FTSE 100 index closed down 19.23 points, or 0.18%, at 10,510.66; and the French CAC 40 index closed down 46.74 points, or 0.55%, at 8,384.87. The Stoxx 50 index closed down 45.53 points, or 0.73%, at 6222.00 on Friday, June 26; the Spanish IBEX 35 index closed down 75.13 points, or 0.39%, at 19438.47 on Friday, June 26; and the Italian FTSE MIB index closed down 480.41 points, or 0.93%, at 51302.50 on Friday, June 26.The International Tanker Owners Association (INTERTANKO) stated that the Hormuz route through Iran is "concerning".

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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