Cryptocurrencies have not had the best environmental track record and it’s easy to understand why. The primary argument for crypto not being ESG-friendly stems from the processing power required to mine the cryptocurrency and complete transactions in it.

US inflation data ticked lower at the headline level, although rising core inflation pushed back any hopes of a ‘Fed pivot’ on interest rates. Indeed, rhetoric from the US Federal Reserve (Fed) remained resolutely hawkish, with inflation control still the top priority.

Economic forecasts predict inflation peaking over the summer months in major economies, before falling back towards the end of the year. While food and energy prices continue to soar and headline inflation levels ratchet ever higher, it can be hard to see what would cause inflation and indeed interest rates to pivot downwards.