UPDATE: Fed held rates in split 10-2 vote as crypto liquidations hit $259M
CIE News ·
Update to Fed keeps rates at 3.75%–4.00% as crypto liquidations reach $167 million
Based on reporting by CryptoSlate; not yet independently confirmed.
Following an initial rate hold report, new FOMC details reveal a 10-2 vote split, Chair Warsh's policy remarks, and revised crypto derivative liquidations of over $259 million.
The Federal Reserve voted 10-2 to maintain interest rates in the 3.75% to 4.00% target range on October 28, 2026, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of an immediate rate hike. As previously reported when rates were held steady amid market volatility, updated data indicates that the decision triggered more than $259 million in cryptocurrency derivative liquidations and pushed 10-year Treasury yields to 5.05%.
Fed Chair Kevin Warsh acknowledged tighter credit conditions and wider credit spreads, noting that monetary medicine is working to lower inflation while refraining from labeling overall conditions as tight. CryptoSlate reported that market trackers placed the implied probability of a December rate hike between 83% and 88%, while Bitcoin (BTC) hovered near $81,000 following an intraday dip to $80,500.
Key facts
- Rates held at 3.75%–4.00%
- 10–2 split FOMC vote
- $259M in crypto liquidations
- 10-year yield reached 5.05%
Read the original at CryptoSlate