Author: Max Bauer
The Federal Reserve released minutes from its September meeting, revealing that while officials believe the risks of high inflation have diminished, they remain cautious about prematurely or excessively reducing policy restrictions. Several participants expressed concerns that easing monetary policy too quickly could hinder progress in combating inflation. The minutes noted that the staff’s outlook for the economy remained “solid,” although growth projections for the second half of 2024 were revised downward due to weaker-than-expected labor market indicators. Uncertainty about the long-term neutral interest rate level was cited by some participants as a complicating factor in assessing the appropriate extent of…
Animoca Brands, a global leader in digital entertainment and blockchain gaming, has revealed its intention to purchase additional PROS tokens from the open market, signaling its support for the evolving strategic direction of Prosper. The announcement was made via the company’s official blog. PROS is the utility token of Prosper, a platform that aims to bring institutional-grade Bitcoin mining power on-chain, offering exposure to the Bitcoin hashrate and broader ecosystem. The token has a current circulating market capitalization of $10 million USD. Animoca Brands’ decision to invest further into PROS reflects its growing interest in the Bitcoin ecosystem and its…
Canary Capital, a newly established cryptocurrency investment firm founded by Steven McClurg, the creator of Valkyrie Funds, has officially submitted an S-1 form with the Securities and Exchange Commission (SEC) to launch an XRP exchange-traded fund (ETF). In a statement to Fox Business, a spokesperson for Canary Capital expressed optimism about the potential for XRP ETF approval, citing the increasing demand from investors for exposure to cryptocurrencies beyond Bitcoin and Ethereum. The firm highlighted XRP’s role as a foundational asset in the blockchain ecosystem, particularly for enterprise-grade solutions. Nate Geraci, President of The ETF Store, echoed this sentiment, suggesting that…
Peter Todd, a prominent figure in the bitcoin community, has found himself at the center of a new theory surrounding the mysterious identity of Satoshi Nakamoto, the anonymous individual or group credited with creating bitcoin. In a forthcoming HBO documentary, filmmaker Cullen Hoback presents evidence suggesting that Todd could be the real-world persona behind the enigmatic Satoshi. The documentary, titled “Money Electric: The Bitcoin Mystery,” delves into the decades-old mystery surrounding Satoshi Nakamoto’s true identity. Hoback’s investigation has led him to believe that Todd, a bitcoin core developer with a long history of involvement in the cryptocurrency, fits the profile…
Federal Reserve Bank of Boston President Susan Collins expressed optimism on Tuesday that further interest rate cuts are likely, citing weakening inflation trends. While acknowledging the unexpectedly strong September jobs report, which initially raised questions about the Fed’s ability to implement significant cuts, Collins maintained a cautiously optimistic outlook. In a speech prepared for delivery at a conference at the Boston Fed, Collins stated that “further adjustments of policy will likely be needed.” She reiterated the Fed’s September projection of a half-percentage-point cut by year-end, but emphasized that the path is not predetermined. “Policy is not on a pre-set path…
Ki Young Ju, the founder of blockchain analytics firm CryptoQuant, has issued a warning that revealing the identity of Bitcoin’s enigmatic creator, Satoshi Nakamoto, could have a negative impact on the cryptocurrency market. In a statement, Ju argued that regardless of whether Satoshi is alive or deceased, disclosing their identity could lead to market uncertainty and potentially bearish sentiment. If Satoshi is alive, concerns about wealth concentration could arise, while if they are deceased, questions about who inherited their significant portion of the Bitcoin supply could spark conspiracy theories. Ju emphasized that Satoshi’s anonymity is essential to the integrity of…
The U.S. government has cleared a major hurdle in its efforts to sell off Bitcoin seized from the now-defunct Silk Road dark web marketplace. According to blockchain analytics firm Lookonchain, the Supreme Court’s decision not to hear a case filed by Battle Born Investments grants the government full control over 69,370 Bitcoin, currently valued at approximately $4.33 billion. This decision comes after a lengthy legal battle. The funds were initially seized in 2020 and linked to an unnamed individual associated with Silk Road, often referred to as “Individual X.” Battle Born Investments, whose claim to the Bitcoin remains unclear, had…
A new report from Standard Chartered suggests that the price of Solana could increase by fivefold by the end of 2025 if Donald Trump wins the U.S. presidential election. Standard Chartered: Solana, Ethereum and Bitcoin Could 5x,4x, 3x Respectively Geoff Kendrick, the Global Head of Digital Assets Research at Standard Chartered, outlined his predictions in a Tuesday note. He also forecasted that Ethereum could rise fourfold and Bitcoin could triple in value under a Trump presidency. However, if Kamala Harris were to become president, Kendrick expects Bitcoin to outperform Ethereum, which would in turn outperform Solana. He envisions Bitcoin reaching…
Cryptocurrency analysis firm QCP Capital has predicted that the cryptocurrency market will see a resurgence as the recent rally in Chinese stocks fades. QCP Capital Believes Cryptocurrencies Remain Strong In a statement released today, QCP Capital noted that the Chinese government’s failure to introduce new economic stimulus during a recent briefing had caused the Chinese stock market to falter after a week-long holiday. This, in turn, led to a decline in the MSCI APAC equity index, marking its largest drop in a month. Meanwhile, US equities also experienced a decline, driven by falling megacap tech stocks and rising geopolitical tensions.…
The Cosmos Hub, a blockchain network aiming to be the “internet of blockchains,” has been rocked by the ouster of the co-founder and general manager of Atom Accelerator DAO, a crypto cooperative that has distributed millions of dollars to support the Cosmos ecosystem. Several Executives Departing at Cosmos The dispute that led to the removal of Youssef Amrani centered around the issuance of performance bonuses to Atom Accelerator employees. Following a unanimous vote on September 25th, Amrani was dismissed from his position, effective September 30th. Atom Accelerator, endowed with millions in cryptocurrency, has a dual mission: to promote the Cosmos…