Biggest stories to look for in crypto as we embark on the new year

Here are the major stories and events to keep an eye on as 2023 gets underway. 

The last week of December was relatively quiet compared with the previous few weeks. Still, things may heat up again in the beginning of the new year as crypto conferences, economic data and Sam Bankman-Fried’s legal case loom large. 

Bankman-Fried arraignment in New York

Disgraced FTX founder Sam Bankman-Fried is set to be arraigned by the U.S. District Court for the Southern District of New York on Jan. 3.

Bankman-Fried faces two charges of wire fraud and six counts of conspiracy. He also faces civil cases from federal regulators, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). 

The criminal case against Bankman-Fried was reassigned to U.S. Judge Lewis Kaplan after U.S. District Judge Ronnie Abrams recused herself in December.

U.S. inflation data

U.S. inflation began to show signs of cooling off toward the end of 2022. The U.S. Federal Reserve began increasing interest rates in March to combat the rising cost of goods and services. 

CPI data for December is scheduled to be released on Jan. 12 at 8:30 a.m. EST. November’s data showed inflation was 7.1%, below estimates of 7.3%.

The Fed slowed the pace of its interest rate increases in December, but there will be no Fed decision this month. The next meeting is set for Feb. 1.

Crypto conferences kick off

The World Crypto Conference will happen Jan. 13-15 and aims to be a bridge between traditional finance, Defi, and the Metaverse. 

Quantum Miami also takes place this month, Jan. 25-27. Andre Cronje is slated to speak in Miami, as well as the city’s mayor Francis X. Suarez. 

Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.