❕ Bit Digital CEO says the commercial Bitcoin mining industry is “doomed”

The “Bitcoin mining industry is going to be dead in two years” he tells, explaining the economics of profit and loss will no longer stack up from a business perspective. Even Michael Saylor reportedly agrees that Bitcoin mining is a ‘terrible’ business.

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🔝 Kalshi’s prediction market on today’s Fed decision surpassed $85M in trading volume

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⚡️ Fed cuts key interest rate by 25bps

Fed median projection shows 50bps more rate cuts in 2025. The Fed expects 50bps more of rate cuts this year.

🔜 Today's Fed decision is a perfect case study. Why? Read our post

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🔖🔖🔖🔖 to $114,932

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📣 Powell's press conference key statements:

• No widespread support for 50bps cut today.
• Don't feel need to move quickly on rates.
• Could think of today's cut as a risk management cut.
• Don't know that quarter point cut will make a huge difference.
• Markets are pricing in a rate path, though not blessing that path.

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🪙 Golden Donald Trump statue holding Bitcoin appears outside the US Capitol on Fed rate cut day

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❕ Democrats are investigating Trump crypto advisor David Sacks over a possible SGE* violation

* — Special Government Employees (like Sacks) are only allowed to serve for 130 days.

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🔥 BitGo crypto exchange wins BaFIN* nod to offer regulated crypto trading in EU

* — Germany’s Federal Financial Supervisory Authority.

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📣 Coinbase CEO says he was in DC, working to get market structure legislation passed for crypto

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⚡️ BDACS announced the official launch of KRW1, a first South Korean won-backed stablecoin on Avalanche

🔄 Earlier: Tests.

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🔥 DBS and Franklin Templeton to launch trading and lending solutions powered by tokenised money market funds and Ripple's RLUSD stablecoin

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📣 New York regulators push banks to adopt blockchain analytics

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⭐️ SEC approved generic listing standards for crypto ETFs, cutting the need for case-by-case approvals by directly approving exchanges

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🔥 Kraken and Circle partner to accelerate global access to USDC and EURC

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💎 Vitalik Buterin pushes back after weeks of staking queue FUD

Ethereum co-founder defended his blockchain’s 45-day exit queue after Galaxy Digital’s head of digital called it “troubling”, sparking backlash.

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❕ David Sacks denies overstaying his 130-day limit

🔄 Earlier: Possible SGE violation.

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⚡️ BC Card* filed a patent for a core technology enabling stablecoin payments

* — One of South Korea’s leading credit card issuers.

🔄 Earlier: Won-backed stablecoin.

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🔥 Nubank* has announced plans to pilot dollar-backed stablecoin payments through credit cards

* — Latin America’s largest digital bank.

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🔝 Decrypt: Avalanche and Hyperliquid lead crypto rally post-Fed rate cut

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⚡️ Kyrgyzstan appointed Virelint Group LLC as the new service provider to manage its stablecoin

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🔝 BNB hits new ATH

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