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Bond-Market Pros Are Unimpressed With Baby Whales From Crypto
Bond-Market Pros Are Unimpressed With Baby Whales From Crypto
(Bloomberg) -- They are turning into the strangest of bedfellows in the financial world: The famously safe securities issued by the US Treasury and the notoriously not-so-safe world of cryptocurrencies.
Issuers of crypto stablecoins meant to track the dollar one-for-one have become noticeable players in the Treasury market as they seek the safest and most-liquid assets to back the value of their tokens.
For crypto promoters, it’s a
(Bloomberg) -- They are turning into the strangest of bedfellows in the financial world: The famously safe securities issued by the US Treasury and the notoriously not-so-safe world of cryptocurrencies.
Issuers of crypto stablecoins meant to track the dollar one-for-one have become noticeable players in the Treasury market as they seek the safest and most-liquid assets to back the value of their tokens.
For crypto promoters, it’s a
What I Said
I think BTC will hit 59.5k$BTC
Kamala Harris is thinking about making Gary Gensler the next Treasury Secretary if she wins the 2024 election. The same Gary Gensler who’s been SEC Chairman and has had crypto firms feeling like they’re walking on eggshells.
Word on the street, according to some senior Senate staffers, is that Kamala is pretty serious about this, and you can bet your bottom dollar Republicans will lose their minds.
Republicans are not here for this
Representative Tom Emmer from Minnesota, a guy who’s made it pretty clear he’s not Gensler’s biggest fan, had some choice words. He straight-up said,
“Gary Gensler needs to move on. His career in government should be over.”
Emmer added that Gensler’s been throwing lawsuits around like confetti at a parade but isn’t really winning any of them.
Other Republican Senate staffers are prepared for a fight if Kamala actually puts Gensler’s name out there. They’re talking about coming together to block this nomination.
Why? Because they believe Gensler’s appointment could mess with the economy, especially if he brings his current vibes over to the Treasury.
Democrats might back him… maybe
There are a few Democrats who might have his back. People like Elissa Slotkin from Michigan and Ruben Gallego from Arizona.
These folks have some interesting ties to the crypto industry, thanks to support from groups like Fairshake PAC. But they’ve both been pretty anti-crypto in Congress. So, whether they’ll support Gensler is still up in the air.$BTC
Kamala Harris Wants SEC Chair Gary Gensler for Treasury Secretary
Word on the street, according to some senior Senate staffers, is that Kamala is pretty serious about this, and you can bet your bottom dollar Republicans will lose their minds.
Republicans are not here for this
Representative Tom Emmer from Minnesota, a guy who’s made it pretty clear he’s not Gensler’s biggest fan, had some choice words. He straight-up said,
“Gary Gensler needs to move on. His career in government should be over.”
Emmer added that Gensler’s been throwing lawsuits around like confetti at a parade but isn’t really winning any of them.
Other Republican Senate staffers are prepared for a fight if Kamala actually puts Gensler’s name out there. They’re talking about coming together to block this nomination.
Why? Because they believe Gensler’s appointment could mess with the economy, especially if he brings his current vibes over to the Treasury.
Democrats might back him… maybe
There are a few Democrats who might have his back. People like Elissa Slotkin from Michigan and Ruben Gallego from Arizona.
These folks have some interesting ties to the crypto industry, thanks to support from groups like Fairshake PAC. But they’ve both been pretty anti-crypto in Congress. So, whether they’ll support Gensler is still up in the air.$BTC
Kamala Harris Wants SEC Chair Gary Gensler for Treasury Secretary
#PowellAtJacksonHole Wall Street Awaits Fed Chair Powell’s Speech at Jackson Hole
According to BlockBeats, market data on August 19 indicates that Wall Street is betting on Federal Reserve Chair Jerome Powell confirming an imminent rate cut at the Jackson Hole annual meeting. However, as the focus shifts from 'whether there will be a rate cut' to 'how much the rate cut will be,' stock traders might face disappointment.
Steward Partners Global Advisory's Managing Director Eric Beiley stated, 'If traders hear about an imminent rate cut, the stock market will react positively. If they don't hear the desired information, it could trigger a massive sell-off.' The market fully expects the Federal Reserve to begin rate cuts at the September meeting. However, Powell's speech on Friday could easily keep the timing of the rate cuts under wraps. Given his cautious nature, he might reveal the extent of rate cuts in a vague manner after the Fed completes its easing measures. 'The market is confident that rate cuts are imminent,' Beiley added. If Powell does not emphasize this as the future path, it will be a significant surprise.
According to BlockBeats, market data on August 19 indicates that Wall Street is betting on Federal Reserve Chair Jerome Powell confirming an imminent rate cut at the Jackson Hole annual meeting. However, as the focus shifts from 'whether there will be a rate cut' to 'how much the rate cut will be,' stock traders might face disappointment.
Steward Partners Global Advisory's Managing Director Eric Beiley stated, 'If traders hear about an imminent rate cut, the stock market will react positively. If they don't hear the desired information, it could trigger a massive sell-off.' The market fully expects the Federal Reserve to begin rate cuts at the September meeting. However, Powell's speech on Friday could easily keep the timing of the rate cuts under wraps. Given his cautious nature, he might reveal the extent of rate cuts in a vague manner after the Fed completes its easing measures. 'The market is confident that rate cuts are imminent,' Beiley added. If Powell does not emphasize this as the future path, it will be a significant surprise.
BREAKING:
🇵🇸 The Israeli army announces the end of operations in Gaza
Israeli Broadcasting Authority:
"According to security officials, Israeli army operations in general have ended in Gaza"
🇵🇸 The Israeli army announces the end of operations in Gaza
Israeli Broadcasting Authority:
"According to security officials, Israeli army operations in general have ended in Gaza"