Crypto Winter Brings More Layoffs as BofA Sees Deep Freeze Avoided

Crypto and equity markets have rallied over the past week after U.S. Federal Reserve Chair Jerome Powell signaled a softened stance on rate increases. Powell said the agency’s commitment to reining in inflation, which is now at a 40-year high, was “unconditional,” adding that he expected economic growth to pick up in the second half after a sluggish start to the year, as previously reported.