The recent endorsement of rate cuts by Federal Reserve Chairman, Jerome Powell, has sparked a new wave of speculation in the financial markets. While the current benchmark rate for overnight money market loans hovers around 5.25% to 5.5%, Powell’s announcement at Jackson Hole, Wyoming indicated a clear intention to lower interest rates in the near
Gains
Cryptocurrency analyst @XForceGlobal recently shared a video chart analysis focusing on Cardano (ADA), a digital asset that some are referring to as a “dinosaur coin” in the current market landscape. The analysis delves into Cardano’s position within the Elliott Wave cycle, suggesting a potential strong upward trajectory in the near future. XForceGlobal drew comparisons between
The US Securities and Exchange Commission (SEC) has pushed back against Hex founder Richard Heart’s attempt to dismiss the $1 billion securities fraud lawsuit filed against him. The SEC filed an opposition brief in a New York federal court, arguing that Heart’s motion to dismiss does not adequately address the allegations in the complaint and
Indian cryptocurrency exchange WazirX has recently faced significant challenges following a major security breach on July 18. The exchange has expressed concerns that external parties not invested in the platform may be attempting to prolong its restructuring process for their own gains. These parties are allegedly creating and maintaining “uncertainty” rather than working towards a
The European Union’s regulatory structure is viewed as a hindrance to artificial intelligence (AI) innovation by Meta CEO Mark Zuckerberg and Spotify CEO Danie Ek. They highlight the fragmented nature of the EU’s AI regulatory framework, which they believe is impeding the progress of businesses in the region. According to them, the lack of clear
Recently, Ripple made headlines by announcing its plans to launch a stablecoin named Ripple USD (RLUSD) on both the XRP Ledger and Ethereum platforms. This move is intended to bridge the gap between the cryptocurrency industry and traditional finance, according to Ripple’s CEO Brad Garlinghouse. In a recent development, Ripple minted the first batch of
The DeFi Education Fund and the Blockchain Association have raised significant privacy and security concerns regarding the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT). The CAT, launched in April, aims to track all securities trades across US markets, creating the largest government-mandated collection of personal financial data in history. The NCLA initiated a
A US federal judge has denied crypto exchange Kraken’s request to dismiss the lawsuit filed by the Securities and Exchange Commission (SEC) over allegations of operating an unregistered securities exchange, despite Kraken’s argument that the SEC’s allegations are unfounded. The decision comes after Kraken requested a dismissal of the case filed by the SEC in
Cardano (ADA) has experienced a surge in price over the last seven days, with a gain of over 14%. However, despite this recent positive movement, there are concerns about how investors will react to this price increase. On-chain data provides valuable insights into the potential behavior of Cardano investors in response to the recent price
The month of August has been a rollercoaster ride for Bitcoin investors, with the cryptocurrency experiencing significant price fluctuations. Starting off on a positive note, Bitcoin saw a 30% crash in the first week of the month, causing a market-wide downturn. While there has been a partial recovery since then, the price is still far