✅ 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