Day: December 20, 2024

Fed Signals Rattle Crypto, Bitcoin Falls Below $97K

The cryptocurrency market faced significant losses following Federal Reserve Chair Jerome Powell’s remarks on Wednesday. Bitcoin (BTC) fell to $96,493, erasing much of its post-election rally. Altcoins also retraced, with some dipping to levels seen before the November 5 U.S. election results. Powell’s cautious tone rattled investors, signaling that the Fed’s stance on rate cuts […]

Tornado Cash Co-Founder Seeks Charges Dropped

Roman Storm, co-founder of Tornado Cash, is seeking dismissal of charges against him following a key ruling by the Fifth Circuit Court. Storm’s legal team argues that the Treasury’s Office of Foreign Assets Control (OFAC) overstepped by sanctioning immutable smart contracts. The ruling clarified that autonomous software cannot be classified as “property,” as no individual […]

Russia’s Central Bank Holds Rates at 21%: What’s the Strategy?

The Russian Central Bank surprised markets by maintaining its 21% interest rate. With many expecting a hike to 22% or higher, the decision sparked curiosity. Governor Elvira Nabiullina and Deputy Governor Alexei Zabotkin explained their reasoning, pointing to a slowdown in credit growth as evidence that the current rate is already effective. Raising rates further, […]

Ark Invest Sells $3.9M in Coinbase Shares

Ark Invest, led by Cathie Wood, has sold 13,780 shares of Coinbase Global Inc. (COIN), netting approximately $3.9 million. The move came in response to Federal Reserve Chair Jerome Powell’s hawkish speech, signaling a cautious outlook on future interest rate cuts. Powell’s remarks rattled financial markets, leading to a 10% drop in COIN’s price, which […]

Is Bitcoin’s Bull Market Over or Just a Correction?

Bitcoin’s price surged to a new all-time high of $108,000 earlier this week but has since fallen to around $94,500. This downturn followed comments from Federal Reserve Chair Jerome Powell, who: These remarks triggered speculation among the crypto community: Is this just a normal bull market correction, or is the Trump-driven rally over? The Bearish […]

Cathie Wood Predicts Bitcoin to Hit $1M by 2030

Cathie Wood, CEO of ARK Invest, has reaffirmed her bold prediction that Bitcoin (BTC) will surpass $1 million by 2030. Speaking with Bloomberg, Wood highlighted Bitcoin’s fixed supply of 21 million units as a key advantage over traditional assets like gold. “When gold prices rise, production increases, but Bitcoin’s supply is fixed,” Wood explained. Spot […]