If the Fed stays the course, it could amount to a dramatic change to the macroeconomic environment. More to the point, it might be perceived as a major change by investors and employers, who would shift their own choices accordingly. Among other impacts, higher Fed interest rates usually draw capital away from speculative sectors because savers and investors are drawn to safer returns in government bonds. At the margins, this will inevitably pull value out of both tokens and crypto startups (along with tech and venture capital more generally).
