KEYTAKEAWAYS
- Fed Chair: Inflation Control Will Be Harder
- Polymarket: 24% Chance of Trump’s BTC Reserve
- Crypto Scams Took 25% of Singapore’s Fraud Losses
CONTENT
FORMER FED CHAIR: CENTRAL BANKS WILL FIND IT HARDER TO CONTROL INFLATION
On March 6, former Federal Reserve Chair Ben Bernanke said that the recent rise in global inflation could make it harder for central banks to control prices in the future. He noted that policymakers who have experienced high inflation in the past tend to be more cautious, suggesting that current decision-makers may take a more hawkish stance.
ANALYSIS:
The market may be too optimistic about rate cuts. Many expect the Fed to start cutting rates in the second half of 2024. However, if the central bank remains cautious, the timing of the rate cuts could be delayed.
POLYMARKET: 24% CHANCE TRUMP WILL ESTABLISH A STRATEGIC BITCOIN RESERVE IN FIRST 100 DAYS
On March 6, the probability of “Trump establishing a strategic Bitcoin reserve within his first 100 days” on Polymarket rose to 24%. This was up from 10% on February 21. The prediction market has seen a total trading volume of $8.47 million.
ANALYSIS:
If the Trump administration takes concrete action within 100 days—such as forming a research group or releasing policy drafts—market expectations may rise further, pushing BTC prices up. However, if no action is taken, market sentiment could cool down, causing the probability to drop again.
CRYPTO SCAMS ACCOUNTED FOR ONE-FOURTH OF SINGAPORE’S FRAUD LOSSES IN 2023
On March 6, Singapore’s Minister of State for Home Affairs, Sun Xueling, stated that crypto-related scams accounted for one-fourth of all fraud losses in 2023, highlighting the risks in this sector.
ANALYSIS:
With crypto scams on the rise, the Singaporean government has warned the public and advised against crypto investments. Sun Xueling emphasized that once scammed, recovering funds is extremely difficult, so people should stay highly cautious.
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