✅ Bitcoin is up 6% for the week after the Fed cut the interest rate by 0.5% on Wednesday. Ethereum finally stopped underperforming after hitting the lowest point in the ETH/BTC ratio over the past 3.5 years 🤑
Weekly news digest:
💎 Crypto
🔸 Binance secretly launched their Telegram mini-app game
🔸 The LayerZero 1st airdrop claim period has ended, if you already claimed ZRO you will be eligible for bonus tokens
🔸 BitGo, a crypto custodian backed by Goldman Sachs is launching a new stablecoin USDS
🔸 Over $6 million in tokens were drained from DeltaPrime wallets due to a private key leak
🔸 MicroStrategy has announced its third debt offering of 2024, aiming to raise $700 million by issuing convertible senior notes
🔸 Solana Labs's phone designing subsidiary will ship its second crypto phone in 2025, Solana Mobile announced
🏦 Crypto exchanges
🔸 The crypto exchange BingX was hacked for $52 million
🔸 OKX CEX will relaunch its US exchange with a new mobile app in Q4
🔸 Singapore’s DBS Bank will launch OTC crypto options trading and structured notes for BTC and ETH for its institutional clients
💵 Finances and Economy
🔸 The Fed has cut interest rates by 0.5%
🔸 Stablecoin issuers like Tether have grown to become the 18th largest holder of U.S. Treasuries
🔸 Bank of England maintained the interest rate at 5%
🔸 BlackRock will launch an AI-focused fund with Microsoft worth around $30 billion
🔸 BlackRock said its clients largely view Bitcoin as insurance against a possible U.S. debt crisis
⚖️ Law and Order
🔸 SEC approved options trading for BlackRock's spot Bitcoin ETF
🔸 Louisiana has become the first state to accept crypto payments for government services
🔸 The SEC filed its proposed amended complaint against Binance
🗣 Personalities
🔸 Cardano founder will meet with the President of Argentina in October to discuss the crypto economy
Donald Trump launched his long-rumored crypto project, World Liberty Financial