The U.S Inflation Data Has Been Published! and It's NOT Great!

Hey There! We hope your day is going well. This is the BitDegree Insider, and it's time to check the pulse of the crypto organism! Like yesterday, before we go, we have a question for you!

What is your favorite part of the newsletter?

Today's talking points:

• ⚡ Most Hyped Data of The Year
• ⚡ Layoffs Among Crypto-Companies Are Tricky
• ⚡ Best Job in The World?
• ⚡ Selected Meme of The Day!

Most Hyped Data of The Year

Soo, today is the day. The US inflation data has been published.

The situation right now:

• The overall CPI increased 0.4% last month and was up 8.2% from a year earlier. It's more than expected (0,3%);
• The core consumer price index, which excludes food and energy, increased 6.6% from a year ago, the highest level since 1982, as the Labor Department data showed Thursday;
• A month earlier, the core CPI climbed 0.6% for a second month.

And guess what? Crypto and Stock markets plummeted immediately quite harshly. Stocks indexes went -3%. 

Translation for crypto geeks:

• Looks like the downline is continuing;
• The end of down trendline is not far away.

The cherry on top: Today, Bitcoin had slipped to $18,1k - let's think how attractive this price could look in 2027?

Bottom line: patience (or at least hope) is critical in this kind of crab market!!

LAYOFFS AMONG CRYPTO-COMPANIES ARE TRICKY

Although Crypto.com CEO Kris Marszalek had announced the exchange planned to downsize 5% of its employees in June, somehow, it appeared to be up to 40%. Is there some kind of a magic trick or…?

Nah. Here's another extra fact to see the bigger picture.

The company in the conditions of the "bear" market broke off a 5-year agreement with the UEFA Champions League.

Yet, yesterday Crypto.com published a media press release. 

It appears that the company prepared $150 million for business development in France. So, Paris will be the new European headquarters of Crypto.com, a crypto exchange! Bonjour Paris! 🇫🇷 🥖

Also, there will be many more job descriptions added soon, so maybe this huge percentage of layoffs might become less painful…

Continuing about the layoffs. Yesterday, the media wrote that the STEPN (The "move-to-earn" fitness app) laid off over 100 contract workers. 

The company responded by saying it was a piece of fake news.

"The reality is that STEPN has parted ways with volunteer MODs who have not been active in the last few weeks and months, <...> Regarding our staff, STEPN is actively hiring for several different roles within the company."

Prepare your CVs then, folks.

BETS JOB IN THE WORLD?

In that case… Learnoverse has a great offer for you! Join our crypto educators community now and reserve a first-class seat in the Learnoverse Instructors lounge! By becoming one of our founding creators, show you can turn difficult technical language into a powerful educational tool for others. We dare you!

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Reach out before December 15, and you'll get to:

• Create free Web3 courses on Learnoverse;
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• Earn via the Learn&earn token economy for every course finished;
• Enjoy passive income in Bahamas. Be mindful of Bahamian boas though;
• You can also sell your paid self-paced courses, live-online programs, and mentorship services.

Selected Meme of The Day

Bite-Sized News

• Solana-Based DeFi Platform Mango Markets Lost Over $100M In Hack
• Coin Center Sues US Treasury Over Tornado Cash Sanctions
• Brazilian City Rio de Janeiro Aims to Accept Property Tax Payments in Crypto
• Indian Police to Use Polygon to Power Its Complaint Portal
• China's Digital Yuan Processed Transactions Worth Over $14 Billion