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CME Group estimated a 41% probability of a 25bp rate cut and a 59% chance of a 50bp cut ahead of the September 18 FOMC meeting.
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MicroStrategy plans to spend $10bn on Bitcoin purchases next year, exceeding the total amount they've invested in BTC since 2020. Earlier the company has announced a bold "21/21 Plan" to raise $42bn over the next three years to expand its Bitcoin holdings.
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Senator Cynthia Lummis has proposed a bold plan for the U.S. government to establish a strategic Bitcoin reserve, aiming to purchase 200,000 BTC annually over five years, totaling 1m BTC—currently worth $76bn.
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Crypto supporters are making significant gains in the U.S. government. Following Trump’s victory, 247 pro-crypto candidates were elected to the House of Representatives, compared to 113 opponents. In the Senate, 15 seats went to crypto advocates, while 10 went to opponents.
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According to Binance research, high-risk investments like memecoins are becoming increasingly attractive as alternative financial assets. ⚫️Surplus Capital: Memecoins capture some investment directed at risk-on assets beyond traditional stocks and real estate ⚫️Viral Appeal: Memes’ community-driven nature now translates to financial assets through blockchain technology ⚫️Accessibility: Memecoins aim to level the playing field with fair launches and low-float tokenomics ⚫️Blockchain Insights: The popularity of memecoins underscores blockchain’s ability to unify communities around shared ideas and movements
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The U.S. presidential election begins tomorrow, with key events lined up for the week: ⚫️November 5: Beginning of elections (current Polymarket odds – Trump 57.8%, Harris 42.4%) ⚫️November 6: Election results expected ⚫️November 7: Fed rate decision; 99.7% chance of 25bps cut
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