Update
Binance Breach Raises Concerns About Exchange Access
The Federal Reserve held interest rates at 3.75%-4%, while Binance reported a $6 billion breach and suspended withdrawals. The breach raised concerns about the ability to access funds, complicating the interpretation of the Fed's interest rate decision. The Federal Reserve asked for more information before changing interest rates, and the economy provided the response, showing strong growth and elevated inflation. The Binance hack complicates the assessment of the crypto selloff on the previous day, as uncertainty over access to funds can discourage risk-taking.