$BTC surged to $64,955 after Fed Chair Jerome Powell hinted at rate cuts, boosting the crypto market by 4% to $2.27T. Technical indicators show bullish momentum with a ‘Golden Cross’ pattern. Options traders target $100K by year-end.
Major RIA invests millions in Bitwise Bitcoin ($BITB) and Ethereum ($ETHW) ETFs amid record inflows. Bitcoin ETFs saw $252M on August 23, totaling $506.4M for the week, while Ethereum ETFs faced $44.5M net outflows, with Bitwise’s ETHW gaining $1.4M.
Federal Court Rules in Favor of SEC in Kraken Lawsuit. The court denied Kraken’s motion to dismiss, citing securities law violations. Kraken must respond within 20 days; next hearing on Oct 15, 2024. This ruling may set a precedent for future crypto regulatory actions.
Ripple CLO Stuart Alderoty criticizes SEC’s approach in $KRAKEN lawsuit. Federal court rules Kraken tokens are not securities. @Kraken’s Marco Santori emphasizes SEC’s flawed tactics. SEC faces a tough challenge in proving each transaction as a security.
Ethereum Foundation’s $94.07M ETH Transfer to Kraken: What’s Next? The @Ethereum Foundation has moved 35,000 $ETH ($94.07M) to @krakenfx, the largest transfer in 2024, continuing its trend of strategic sales during market peaks. This highlights potential market volatility and strategic financial positioning.
AI, staking, and data tokens lead crypto recovery. $LDO and $RPL surged by 18.8% and 34.4%, respectively, while AI-related tokens grew 23.8%. Data services tokens like $ARKM, $BTT, and $GRT increased by 23.3%, outpacing memecoins and DeFi tokens.
Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek urge Europe to adopt open-source AI to spur innovation and economic growth. They call for simplified regulations, noting Europe’s lead in open-source developers positions it uniquely for AI advancement.
DMM Crypto partners with Progmat Inc. to launch a Japanese regulation-compliant stablecoin on the Progmat Coin platform, integrated into the Seamoon Protocol. This digital asset will facilitate payments within DMM Group’s entertainment offerings, enhancing cross-border transactions and cryptocurrency adoption.
Wyoming to launch a state-backed stablecoin pegged to the US dollar in 2025, supported by US Treasury bills and repurchase agreements. This initiative aims to boost Wyoming’s economy and reinforce its leadership in digital asset regulation.
Spot $BTC ETFs surged by $64.91M on Aug 22, 2024, while $ETH ETFs saw $874,610 in outflows for the sixth consecutive day. Grayscale and Bitwise reported significant $ETH outflows, marking Bitcoin’s market dominance at a 40-month high.
$BTC breaks $62K following @federalreserve’s Jerome Powell’s speech hinting at easing regulations. Market reaction shows crypto’s sensitivity to macroeconomic policies and a potentially favorable environment for high-risk assets with diminished inflation risks.
Michelle Bond, partner of ex-FTX exec Ryan Salame, charged by DOJ for using $400,000 in FTX funds for her 2022 Congressional campaign. Both accused of concealing illegal financing. Salame seeks to annul his guilty plea.
Fed Chair Jerome Powell hints at rate cuts due to slowing inflation and labor market weakness. $BTC surged to $62,320 before stabilizing at $61,700. $ETH briefly hit $2,700, settling at $2,666, reflecting a 2% increase in 24 hours.
ASIC wins lawsuit against Kraken subsidiary Bit Trade for compliance failure on a new product. The court’s ruling avoids harsher penalties but sets a precedent for increased regulatory scrutiny in the crypto industry. Kraken agrees to comply.
