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On Thursday, the Federal Reserve lowered interest rates by 25 basis points to a range of 4.25%-4.50%, marking the third consecutive rate cut, in line with expectations. In the three monetary policy meetings from September to December, a total of 100 basis points were cut, including one 50 basis point cut and two 25 basis point cuts. This meeting leaned toward hawkish rate cuts, reducing the expected number of cuts next year from four to two while cutting by 25 basis points. U.S. stock indices fell, with the Nasdaq down 2% at one point, the S&P 500 down 1.5%, and the Dow Jones down 1.2%.
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Derek Merrin, a member of the Ohio House of Representatives in the United States, proposed HB 703 (the Ohio BTC Reserves Act), which aims to grant the state treasury the power to purchase BTC in 'appropriate asset allocation,' but does not mandate the purchase of BTC. The statement indicates that the dollar is rapidly depreciating, and Ohio must embrace technology to protect tax revenue from erosion. The European Securities and Markets Authority (ESMA) has released final guidance to assist member states in implementing upcoming regulations. The EU's specific regulation for the cryptocurrency industry, known as the Markets in Crypto-Assets (MiCA), is set to take effect on December 30 across 27 member states. ESMA Chief Verena Ross stated: Looking ahead, as the transition period progresses, we will continue to provide guidance and work with all National Competent Authorities (NCAs) to ensure the smooth implementation of MiCA and support a fair competitive environment through regulatory convergence actions. (Wall Street Journal) reports: The AI unicorn Databricks completed a $10 billion Series J financing round with a valuation of $62 billion, led by Thrive Capital. Santiment released data showing that there are currently 104 whale addresses holding at least 100,000 ETH, accounting for 57.35% of all existing ETH, worth approximately $333.1 billion. On December 18, MtGox-related addresses sent 1,130 BTC to two addresses. BitME co-founder Arthur Hayes stated that the cryptocurrency market will experience a downturn around the time of Trump's inauguration on January 20, 2025. If the market breaks through around January 20, he will acknowledge his prediction error and will re-enter after licking his wounds.