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🌙 Bitcoin Is Up 6% Since the Fed Rate Cut

Industry watchers say that while the rate cut has so far proved to be a short-term catalyst for crypto, the longer-term economic outlook remains uncertain.

Author

Mike Gavela
September 19, 2024

Crypto Roundup - September 19

Bitcoin prices have risen following the Fed's recent rate cut, reflecting the broader market’s positive response to the monetary policy shift. Meanwhile, ConsenSys’ lawsuit against the SEC has been dismissed, halting any immediate regulatory challenges to the company's business. Additionally, Terraform Labs is winding down and facing bankruptcy proceedings, marking a significant downfall for the organization amid its ongoing legal and financial troubles.

Top Stories

  • Bitcoin rises following the Fed's rate cut, signaling market optimism.

  • ConsenSys' lawsuit against the SEC is dismissed, ending the regulatory battle.

  • Terraform Labs winding down and entering bankruptcy, facing continued legal challenges.

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TOP STORIES

Bitcoin is up 6% since the Fed rate cut. What’s next?

Despite the short-term boost, a Bybit exec warns investors of “potential challenges posed by economic uncertainty and market fluctuations.”

blockworks.co/news/btc-up-since-fed-rate-cut

Texas court dismisses Consensys lawsuit against SEC

The Consensys suit was originally filed in April and included the allegation that the SEC had opened an investigation into Ethereum.

blockworks.co/news/consensys-lawsuit-against-sec-dismissed

Court approves Terraform Labs winding down in bankruptcy hearing

After eight months in court, Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware approved Terraform Labs’ bankruptcy plan.

cointelegraph.com/news/terraform-labs-winding-down-bankruptcy

FUNDRAISING

Exclusive: Female-led Drift raises $25 million to expand Solana exchange and become 'Robinhood of crypto'

Multicoin Capital led the round with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.

fortune.com/crypto/2024/09/19/drift-solana-multicoin-crypto-funding-series-b

Foresight Ventures announces multimillion-dollar investment in Aptos to accelerate ecosystem growth

The funding will be used to accelerate product development and support the advancement of Aptos' Layer-1 blockchain infrastructure.

www.theblock.co/post/317036/foresight-ventures-announces-multimillion-dollar-investment-in-aptos-to-accelerate-ecosystem-growth

OTHER HEADLINES

German Government Shuts Down 47 Exchanges, Says They're Tied To ‘Illegal Activity’

The country’s Federal Criminal Police Office and its Central Office for Combating Cybercrime said the platforms failed to comply with KYC requirements and allowed for illegal activities such as money laundering.

www.coindesk.com/business/2024/09/19/german-government-shuts-down-47-exchanges-tied-to-illegal-activity

BlackRock’s new laser-eyed Bitcoin screed lays out why to invest in ‘flight to safety’ asset

Bitcoin is still risky, says BlackRock, just not in the same way as the S&P 500.

www.dlnews.com/articles/markets/blackrock-bitcoin-report-outlines-flight-to-safety-and-risk

US prosecutors oppose Mango Market exploiter's motion for acquittal

The Mango Markets exploiter, Avraham Eisenberg, seeks to have his case thrown out and prosecutors for the Southern District of New York are opposing the motion.

cointelegraph.com/news/us-prosecutors-oppose-mango-market-exploiter-s-motion-acquittal?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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