Bitpush editor selects Web3 news for you every day:
[ The Federal Reserve cuts interest rates by 50BP, starting a rate cut cycle]
The Federal Reserve announced its interest rate decision, starting a cycle of rate cuts, lowering the federal funds rate by 50 basis points to 4.75%-5.00%, the first rate cut since March 2020.
[Interpretation of the dot plot: The Federal Reserve will cut interest rates by another 50 basis points this year]
According to Jinshi.com, the median of the Fed's dot plot shows that the Fed will cut interest rates by 100 basis points in total in 2024. After the 50 basis point cut in September, there is an expectation of another 50 basis point cut. The Fed is expected to cut interest rates by another 100 basis points in 2025, the same as the rate cut expected in the dot plot in June.
[Trump used Bitcoin to pay for his meal at a New York bar for the first time]
According to Fox News, former US President Trump used Bitcoin to pay for his meal for the first time at a bar in New York.
[US SEC Chairman: "So-called" cryptocurrency exchanges must follow the rules]
SEC Chairman Gary Gensler said that “so-called” exchanges of cryptocurrencies must follow the rules.
[ Robinhood Markets Chief Legal Officer: Robinhood has been discussing crypto business with the SEC for a year and a half]
Dan Gallagher, chief legal, compliance and corporate affairs officer at Robinhood Markets, Inc., said Robinhood has been on calls and in discussions with the SEC for a year and a half to discuss its cryptocurrency business.
Gallagher said Robinhood is "committed" to registration and that the company has discussed with the SEC about obtaining a special purpose broker-dealer license, which would allow the company to custody cryptocurrencies. He said: "One thing we are very clear about is that the special purpose broker regime is not applicable to digital assets, so we proposed modifications to make it work, and we accept the full supervision of the Commission. We had a good relationship with the SEC staff until early 2023, when we received a very perfunctory notice from the chairman's office telling us there was no reason to talk anymore."
[ Bitwise : Ethereum fundamentals remain strong, opponents ignore 3 important information]
Bitwise officially published a statement on the X platform saying, "Ethereum's downturn has attracted some opponents. They ignore the following points: more than half of stablecoins are on the Ethereum chain. More than 60% of DeFi assets are locked on Ethereum. Polymarket landed on Ethereum. By the end of 2024, ETH looks like a potential contrarian bet."
Bitwise Chief Investment Officer Matt Hougan previously said that ETH seems to be ignored now, but its poor price performance may be reversed as the year draws to a close.
[Powell: If we see the July employment report first, we may start to cut interest rates in July]
Federal Reserve Chairman Powell said that if employment data had been released at that time (at the July interest rate meeting), we might have cut interest rates in July.
The July non-farm payrolls report showed a weak U.S. labor market. Powell said: "If we had gotten the July employment report before the meeting, would we have cut interest rates? We probably would have. We didn't make that decision, but you know, we probably would have made it."
Twitter: https://twitter.com/BitpushNewsCN
BitPush TG Exchange Group: https://t.me/BitPushCommunity
Bitpush TG subscription: https://t.me/bitpush
Btok subscription: https://btok360.com/bitpush
