Author: Max Bauer

The Federal Reserve cut interest rates by 25 basis points on Wednesday, lowering the target range for the federal funds rate to 4.50%-4.75%. While the move itself was widely anticipated, analysts are scrutinizing the accompanying statement and the surrounding context for clues about the Fed’s future policy direction. Nick Timiraos, often referred to as the “Fed mouthpiece,” confirmed the expected cut and the unanimity of the decision. However, he also noted minimal changes to the Federal Open Market Committee’s statement, leaving analysts searching for deeper meaning. Much of the post-announcement analysis focused on what the Fed didn’t say. Analyst Smialek…

The FED decided to cut interest rates by 25 basis points. The expectation was also for a 25 basis point cut. The Federal Reserve is taking action to counter ongoing inflationary pressures, cutting interest rates for the first time in four years. After a half-point reduction in September, policymakers have signaled two additional, smaller cuts in 2024, with more anticipated in 2025. Following yesterday’s post-election rally, the S&P 500 is gaining momentum, up 0.6% as investors await the Fed’s latest decision. Meanwhile, the Nasdaq continues its upward trajectory, climbing about 1.3% to another record high. Government bond yields, which initially…

Bitcoin (BTC), the world’s leading cryptocurrency, shattered its all-time high price record for the second time today, briefly reaching $76,466 before settling back slightly to around $76,000 at the time of publication. This surge came just an hour before the Federal Reserve’s highly anticipated interest rate decision, where a 25 basis point cut is widely expected. The record-breaking rally occurs amidst a backdrop of uncertainty surrounding the economic policies of newly elected US President Donald Trump. Trump’s proposed measures, including immigration reductions and new import tariffs, are anticipated by some to fuel inflationary pressures. This potential inflationary environment has led…

Changpeng Zhao (CZ), the billionaire founder of cryptocurrency exchange Binance, received a rockstar’s welcome at Dubai’s Coca-Cola Arena recently, with cheers of “the king is back!” echoing through the venue. This triumphant return follows a four-month prison sentence in the US after a plea deal with the Department of Justice. Speaking to Bloomberg a day before Donald Trump’s surprising presidential victory sent crypto prices (and CZ’s net worth) soaring, Zhao reflected on his time behind bars and his unexpected separation from Binance. Zhao, whose estimated net worth jumped to almost $53 billion following Trump’s win, stated that he has no…

The Avalanche Foundation has finalized its disentanglement from the collapsed Terra ecosystem, repurchasing $52 million worth of AVAX tokens from Do Kwon’s now-defunct Luna Foundation Guard (LFG). This marks the end of a relationship that began over two years ago and ultimately resulted in significant losses for many involved with Terra. In 2022, Do Kwon, creator of Terraform Labs, launched LFG as a mechanism to acquire $10 billion in Bitcoin and other crypto assets, including AVAX, to serve as a reserve for the then-popular algorithmic stablecoin TerraUSD (UST). The strategy involved two deals: LFG acquired $100 million in AVAX, while…

Bitcoin (BTC) has soared to a new all-time high of $75,990, driven by optimistic expectations surrounding the re-election of Donald Trump as US President. The cryptocurrency had already broken its previous record earlier in the day following confirmation of Trump’s win, but this latest surge late in the day has pushed the all-time high (ATH) even higher. At the time of writing, Bitcoin is trading at $75,977, remaining remarkably close to its peak valuation. The price surge, representing a roughly 10% increase over the past 24 hours, is largely attributed to the anticipation that Trump will implement more cryptocurrency-friendly policies…

Donald Trump’s presidential victory has transformed the regulatory landscape for cryptocurrencies, shifting from a headwind to a tailwind, according to analysts at Bernstein, a leading research and brokerage firm. The market, they argue, has yet to fully price in this significant shift. In a note to clients on Wednesday, Bernstein analysts led by Gautam Chhugani predicted the appointment of a “crypto-friendly” SEC Chair and the influence of a similarly inclined Senate Banking Committee will accelerate regulatory clarity for the industry. This marks a stark contrast to the current SEC under Gary Gensler, which has engaged in numerous legal battles with…

The US cryptocurrency industry is celebrating significant victories following Donald Trump’s re-election and a Republican surge in Congress, creating what some are calling the “most pro-crypto Congress ever.” Data compiled by Stand With Crypto, a crypto advocacy group launched by Coinbase, reveals that 247 pro-crypto candidates secured seats in the House of Representatives, compared to 113 anti-crypto members. The Senate also leans favorably towards crypto, with 15 supporters and 10 opponents. This pro-crypto majority in both chambers, combined with Trump’s re-election, has sparked optimism about the potential for clear and supportive regulation for the industry. While the House, with its…

Following Donald Trump’s victory in the presidential election, Ripple executives Brad Garlinghouse (CEO) and Stuart Alderoty (CLO) issued statements urging the new administration to prioritize cryptocurrency regulation reform. Garlinghouse offered a pointed “first 100-day checklist” for the incoming president, beginning with the immediate dismissal of current SEC Chair Gary Gensler. He suggested replacing Gensler with figures like Giancarlo (presumably referring to former CFTC Chairman Chris Giancarlo), Brooks (likely former OCC Comptroller Brian Brooks), or Gallagher (possibly former CFTC Commissioner Dan Gallagher), citing them as “massive upgrades in rebuilding the rule of law (and reputation) at the SEC.” The Ripple CEO…

Bitcoin (BTC) has tightened its grip on the cryptocurrency market, reaching a 3.5-year high in market dominance as altcoins struggle to keep pace. This surge comes as the US election casts a shadow over the market, adding to the prevailing uncertainty. While Bitcoin remains less than 4% below its recent near-record high of over $73,000, major altcoins like Ethereum (ETH) and Solana (SOL) have suffered significant losses, dropping nearly 10% from their recent peaks. The broader market, as represented by the CoinDesk 20 index, also declined by almost 6%. Smaller cryptocurrencies fared even worse. The combined market capitalization of altcoins…