• JP Morgan Chase Asset Management Chief Global Strategist David Kelly predicts the economy may go into recession if the Federal Reserve continues to raise interest rates.
• Kelly claims that the Fed has “won” its war against inflation and should now stop raising rates to avoid a recession.
• He suggests that the Fed should stop raising rates after the February meeting, when the benchmark rate is expected to hit 5%.

JP Morgan Chase Asset Management Chief Global Strategist David Kelly has urged the Federal Reserve to stop hiking interest rates if they want to keep the U.S. economy intact. Kelly believes that the Fed has “won” its war against inflation and should now shift focus to avoiding a recession.

In an interview with Bloomberg on Thursday, Kelly predicted that the Fed will continue raising interest rates beyond February, and into their March and May meetings. These raises, predicted at 25 basis points each, would bring the Fed’s benchmark rate to over 5%. Kelly believes that this level is too high, and could potentially tip the economy into a recession.

Kelly suggests that the Fed should instead focus on “building a little bit of a cushion in the economy,” as a recession could be around the corner. He noted that the current economic growth rate is “just about as fast as it can be without generating inflation” and that any further rate hikes could push the economy into a recession.

Kelly further warned that rate increases could have a long-term negative impact on the economy, noting that “the Fed has to be careful that it doesn’t raise interest rates so high that it actually causes a recession…. It’s not clear that we need more interest rate increases at this point.”

In conclusion, David Kelly has cautioned the Federal Reserve to stop raising interest rates past February, in order to avoid tipping the U.S. economy into recession. He believes that the current economic growth rate is already at its maximum, and that any further rate hikes could cause long-term damage to the economy.

• Mt. Gox creditors are now able to select and register for compensation from the company until March 10, 2023 (Japan time).
• This extension also affects the distribution deadline, as creditors now have to wait until September 30 to receive compensation.
• The extension was approved by the court after a request from the exchange’s trustee Nobuaki Kobayashi.

The defunct cryptocurrency exchange Mt. Gox has granted its creditors more time to select and register how they wish to receive compensation from the company. According to a document from the exchange’s trustee Nobuaki Kobayashi, the registration deadline, which was initially set as January 10, 2023, has been extended to March 10 (Japan time) after receiving approval from the court.

The extension also affects the distribution deadline as Mt. Gox creditors now have to wait until September 30 to receive compensation. This means that creditors have an additional two months to decide how they wish to receive their funds. It is worth noting that the deadline for filing a claim of damages remains unchanged and is still set at March 22.

The decision to extend the registration deadline was taken in order to give Mt. Gox creditors more time to make an informed decision. It is also a way to ensure that the process is completed in a fair and transparent manner. In addition, it will allow creditors to obtain more information about the process and their rights before making a decision.

The details of the extended registration deadline were announced in a document from the exchange’s trustee Nobuaki Kobayashi. According to the document, the Rehabilitation Trustee has obtained permission from the court to change the deadline for the Selection and Registration to March 10, 2023 (Japan time).

Mt. Gox creditors are now able to submit their applications until the new deadline of March 10. Upon submission of an application, the creditor will be asked to provide details about the type of compensation they wish to receive, the amount and any other relevant information.

Once the registration deadline has passed, the Rehabilitation Trustee will assess the applications and proceed with the distribution of the funds to the creditors. It is expected that the Rehabilitation Trustee will begin the distribution process by the end of March and the funds should be received by creditors by September 30.

The extension of the registration deadline is a welcome development for Mt. Gox creditors as it gives them more time to make an informed decision about how they wish to receive their funds. It is also a sign that the Rehabilitation Trustee is taking the process seriously and is trying to ensure that the process is conducted in a fair and transparent manner.

• Animoca Brands seeks to raise $1 billion in Q1 2023 for its Web3 and Metaverse investment fund.
• The blockchain gaming platform is looking to support blockchain and Metaverse startups.
• Chairman and Co-Founder of Animoca Brands, Yat Siu, stated that Q1 is the goal for the fundraising.

Animoca Brands, a blockchain gaming platform based in Hong Kong, is looking to raise $1 billion in the first quarter of 2023 for a Web3 and Metaverse investment fund. This initiative comes after the decline of the crypto market and the crash of the FTX platform, which caused a significant loss of interest in the industry.

Chairman and Co-Founder of Animoca Brands, Yat Siu, has expressed his intention of completing the fundraising by the first quarter of the year. He stated that the fund will be used to support blockchain and Metaverse startups, which will be essential to the future of the industry. He added that, despite the current market conditions, there should be no concerns about the success of the venture.

The fund will be divided into two parts: Web3 and Metaverse. The Web3 portion will focus on projects with a focus on blockchain technology, decentralized finance, and smart contracts. The Metaverse part will focus on investments in platforms such as Decentraland, CryptoVoxels, and The Sandbox, as well as other virtual world projects.

Animoca Brands has also announced that it will launch its own token, which will be used to purchase virtual assets and access services within the platform. The company has already secured partnerships with some of the leading blockchain and Metaverse projects, and is expecting to secure more in the near future.

The investment fund will also be used to further develop Animoca Brands‘ own products and services, as well as to acquire new businesses. The company is aiming to become a major player in the Metaverse and Web3 space, and believes that its investment fund will provide it with the resources to do so.

Animoca Brands is confident that its investment fund will be successful and will help it to become a major player in the industry. With its focus on Web3 and Metaverse, the company is sure to be one of the biggest and most influential players in the space in the years to come.

• New York Attorney General Letitia James has sued Celsius Network co-founder Alex Mashinsky for allegedly defrauding investors out of billions of dollars worth of digital assets.
• The lawsuit seeks disgorgement of any proceeds derived from Mashinsky’s unlawful practices as well as restitution for investors.
• The AG alleged that before Celsius‘ bankruptcy, Mashinsky repeatedly made false and misleading statements about the company’s safety to persuade investors to deposit billions of dollars worth of crypto on the platform.

The New York Attorney General’s Office has filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius Network, accusing him of defrauding investors out of billions of dollars worth of digital assets. The lawsuit, which was filed by Attorney General Letitia James on Monday, seeks disgorgement of any proceeds derived from Mashinsky’s unlawful practices as well as restitution for investors.

The complaint alleges that Mashinsky and Celsius Network violated the Martin Act, New York’s powerful consumer protection law, by making false and misleading statements about the safety and security of their platform. In particular, the AG alleges that Mashinsky repeatedly misrepresented to investors that their funds were safe, even though the company was on the brink of bankruptcy.

Furthermore, the complaint also alleges that Mashinsky failed to register as a salesperson for Celsius, which is a violation of New York law. The AG is also seeking civil penalties for Mashinsky’s alleged violations.

The complaint alleges that Mashinsky and Celsius misled investors in a number of ways, including by falsely claiming that the platform was “backed by a reserve of billions of dollars in digital assets” and that the company was “backed by the best-known financial institutions and venture capitalists.” The AG also alleges that Mashinsky and Celsius falsely claimed that their platform was “secure” and that investors’ funds were “guaranteed” to be safe.

The complaint also seeks to recover any ill-gotten gains derived from Mashinsky’s alleged misconduct. This includes any profits derived by Mashinsky or Celsius Network from their alleged violations of the Martin Act, as well as any profits derived from Mashinsky’s failure to register as a salesperson for Celsius.

The Attorney General’s lawsuit is the latest in a series of actions taken by New York regulators against companies in the cryptocurrency industry. The AG’s office has previously taken action against cryptocurrency exchanges Bitfinex, Bitstamp, and Kraken, as well as blockchain-based asset manager Coinseed.

Overall, the AG’s lawsuit against Mashinsky and Celsius Network is an important reminder that investors should always do their due diligence when investing in cryptocurrency. Investors should always be sure to research a company’s financial situation, as well as any potential risks associated with the platform. Furthermore, investors should be aware of any potential legal violations, such as failing to register as a salesperson, and take the necessary steps to protect their investments.