Main Takeaway: Biden Signs Inflation Reduction Act, Markets Jump
Yesterday US President Biden signed into law the Inflation Reduction Act. This is coming off of two days of relatively muted stock market action and crypto. However, after the action, markets recovered some of their intra-day’s losses. Crypto on the other hand has recovered 1%, but is still below the recent weekend’s highs.
Key Stories: Google Invests The Most In Blockchain
Since September 2021, Google has invested over $1 billion into blockchain and crypto technologies. This news story builds on top of last week’s headlines of BlackRock opening up its institutional clients to Bitcoin.
This is bullish news for the industry-wide adoption of blockchain. Although blockchain is separate from crypto, among Google’s investments into blockchain are indeed crypto and Web3 VCs and big players like Dapper Labs and Digital Currency Group.
Today’s Top Gainers
The top five performing coins on Phemex d-o-d are Eos (EOS/USDT), Injective (INJ/USDT), BarnBridge (BOND/USDT), Jasmy (JASMY/USDT), and Lumerin (LMR/USDT).
