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US Fed hikes interest rates, Bitcoin plunges below $36K, and Argentina’s central bank says no to financial institutions offering crypto: Hodler’s Digest, May 1-7

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekFed hikes interest rates by 50 basis points in effort to combat inflationOn Wednesday, the United States Federal Open Market Committee (FOMC) voted to raise interest rates by 0.5%, marking its biggest upward adjustment in over two decades. It was the second rate increase of 2022, with seven increases expected in total for the year.In a press conference following the FOMC meeting, Federal Reserve Chair Jerome Powell further cemented the need to continue raising interest rates to combat inflation.   Coinbase took out the first Bitcoin-backed loan from Goldman SachsCoinbase took an important step toward bridging the mainstream world and the crypto

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