FED Keeps Printing Money, And They’re Worried About Crypto Market Manipulation?!
For the third day in a row the US Federal Reserve has injected more money into the system sparking widespread fears that things are spiraling out of control. The irony is that US regulators continually harp on about crypto market manipulation when it is happening on a grand scale right under their noses.
Bitcoin and Ethereum Market Caps Combined
Another day goes by and . It sounds like a routine operation now and for the FED it has become just that as the economic system starts springing more leaks.
In an effort to prevent the federal fund rate rising further the central bank added more money into the system on Thursday. So far this week $203 billion has been injected into the markets. This is the equivalent of the combined market capitalization of Bitcoin and Ethereum at today’s levels.
By all accounts there will be more added today which will make the total more than the entire crypto asset market capitalization.
UPDATE: The NY Fed is planning to inject another $75 billion into the financial system on Friday (tomorrow).