Crypto mining stocks plunge as Fed warns of ‘difficult tradeoffs’
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Crypto mining stocks fell on May 28 amid uncertainty stemming from the Federal Reserve’s minutes, while the broader crypto market remained relatively resilient.
US crypto mining stocks tumbled at the close of May 28 trading after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook.
The crypto market remained unscathed, despite the stock drops among crypto miners.
The minutes of the Federal Open Market Committee’s meeting on May 6 and 7, released on May 28, stated, “the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.”
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