Author: Max Bauer
Cryptocurrency analysis firm QCP Capital has issued a warning about potential market volatility ahead of today’s Federal Reserve interest rate decision. The firm believes that the Fed’s actions will have a significant impact on the trajectory of financial markets in the coming months and years. According to QCP Capital, market participants are currently anticipating a 50 basis point interest rate cut, with a 33% probability assigned to a 25 basis point reduction. However, economists surveyed by Bloomberg are more conservative, with a majority predicting a 25 basis point cut. The firm emphasized that the uncertainty surrounding the Fed’s decision extends…
Binance, the world’s largest cryptocurrency exchange, has published an analysis on the potential impact of the Federal Reserve’s upcoming interest rate decision on cryptocurrency prices. The analysis suggests that a series of rate cuts, as anticipated by the market, could have a positive effect on digital assets. Historically, cryptocurrencies like Bitcoin have often reacted negatively to rate hikes but positively to rate cuts. Lower interest rates can lead to increased liquidity in the financial system, driving up demand for riskier assets like crypto. Additionally, Bitcoin’s anti-inflationary qualities and potential for hedging against currency devaluation could make it more attractive to…
Bitcoin reclaimed the $60,000 mark on Tuesday as investors eagerly awaited the Federal Reserve’s announcement regarding its rate cutting plans. The price of the flagship cryptocurrency surged by 4.3% to $60,394.41, according to Coin Metrics. At its peak, Bitcoin reached $61,335.83. The initial price surge was fueled by the announcement of former President Donald Trump’s new crypto venture, World Financial Liberty Coin. As the Federal Reserve began its two-day policy meeting, Bitcoin breached the $60,000 level. The market is widely expecting the central bank to cut interest rates for the first time in four years, which could positively impact risk…
The U.S. Securities and Exchange Commission (SEC) has accused two alleged fake crypto platforms, NanoBit and CoinW6, of defrauding investors through “relationship investment scams.” In its first charges alleging this type of scam, the SEC filed two complaints against five entities and three individuals in federal court. The SEC alleges that the platforms used social media platforms like WhatsApp, LinkedIn, and Instagram to target potential investors. The scammers posed as financial professionals or wealthy individuals to build relationships with victims and convince them to invest in the fake crypto platforms. “Relationship investment scams pose a significant risk to retail investors,…
A recent analysis by CryptoQuant has revealed that the number of bitcoin centralized exchange depositing addresses has reached its lowest level since 2016. This significant decrease could indicate a reduction in selling pressure and potentially positive market sentiment for Bitcoin. According to CryptoQuant’s research note, the number of bitcoin exchange depositing addresses has dropped to 132,100, a multi-year low. This metric represents the number of addresses sending inflow transactions to exchanges, and the analysis suggests that a multi-year low indicates a decrease in the number of investors selling coins on spot exchanges. Julio Moreno, Head of Research at CryptoQuant, explained…
The Securities and Exchange Commission (SEC) today announced that Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, have agreed to pay a total of $1.95 million to settle two actions alleging misconduct in their audits of the now-defunct crypto asset trading platform, FTX. In one of the actions, the SEC alleges that Prager misrepresented its compliance with auditing standards regarding FTX. According to the SEC’s complaint, Prager issued two audit reports for FTX that falsely claimed to have complied with Generally Accepted Auditing Standards (GAAS). However, the SEC found that Prager failed to follow…
Wintermute, a renowned algorithmic trading firm and liquidity provider in the digital asset space, has unveiled plans to launch a decentralized prediction market for the upcoming US presidential election. The market will feature tokens representing Donald Trump and Kamala Harris and will be built on a smart contract platform. To ensure the highest level of accuracy and reliability, Wintermute has partnered with Chaos Labs’ Edge Proofs Oracle. This innovative oracle solution provides real-time, tamper-proof data feeds across multiple blockchains, including Ethereum, Base, and Arbitrum. The multi-chain nature of the prediction market allows users to participate directly from their preferred blockchain…
MicroStrategy Incorporated today announced its intention to offer $700 million aggregate principal amount of convertible senior notes due 2028 in a private placement. The notes are expected to be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The notes will bear interest payable semi-annually and will mature on September 15, 2028, unless earlier repurchased, redeemed, or converted. MicroStrategy may redeem the notes for cash under certain conditions, and holders may also require MicroStrategy to repurchase them for cash. The notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a…
As investors eagerly await the Federal Reserve’s interest rate decision this Wednesday, some analysts are cautioning that an overly aggressive rate cut could actually harm risk-on assets like Bitcoin. While lower interest rates are generally seen as a positive for cryptocurrencies, a more substantial cut might signal deeper economic concerns, leading investors to retreat from riskier assets. Shannon Saccocia, chief investment officer at Neuberger Berman Private Wealth, told MarketWatch that a more aggressive cut could suggest a weaker-than-expected economy. Dave Birnbaum, VP of product & marketing at Coinbits, echoed this sentiment in a Forbes article. The Chicago Mercantile Exchange’s FedWatch…
Bitcoin, the world’s largest cryptocurrency, experienced a slight pullback on Monday as investors eagerly await the Federal Reserve’s highly anticipated interest rate decision. The impending policy change, scheduled for later this week, has markets worldwide on tenterhooks. Bitcoin dipped as much as 2.8% before recovering somewhat to trade at $58,655. Other major cryptocurrencies, such as Ether and Dogecoin, also faced minor declines. The much-anticipated rate cut, the first in over four years, is expected to loosen financial conditions, which typically benefits riskier assets like cryptocurrencies. However, uncertainty remains about the extent of the rate reduction and how markets will respond…