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🌙 Fed Cuts Interest Rates by 50 Basis Points

Market participants were uncertain about the size of the rate cut prior to the Fed meeting, laying the groundwork for market volatility.

Author

Mike Gavela
September 18, 2024

Crypto Roundup - September 18

The Federal Reserve has cut interest rates by 0.5%, which is expected to have significant implications for both the traditional financial markets and the crypto space. Meanwhile, the SEC has settled charges with Rari Capital, which was accused of operating as an unregistered broker-dealer in its decentralized finance (DeFi) operations. Additionally, Sky Finance, following a major rebranding effort, has launched a new decentralized application (dApp) and released updated tokens to enhance its DeFi platform.

Top Stories

  • The Federal Reserve cuts interest rates by 0.5%, impacting markets and crypto.

  • The SEC settles with Rari Capital for operating as an unregistered broker in DeFi.

  • Sky Finance completes its rebranding with a new dApp and token launch for its platform.

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TOP STORIES

The Fed opts for jumbo 0.5% rate cut — what it means for crypto

More than two years after the Federal Reserve began fighting inflation, interest rates are finally coming back down.

www.dlnews.com/articles/markets/the-fed-cuts-rates-by-05-and-what-it-means-for-crypto

DeFi startup Rari Capital settles with the SEC 

The SEC claimed Rari operated in unregistered broker activities and “misleadingly” claimed investors would receive a higher annual yield.

blockworks.co/news/sec-settlement-rari-capital-unregistered-broker

Sky Completes Rebrand By Launching New dApp and Tokens - "The Defiant"

Sky's new governance token SKY and stablecoin USDS are now live.

thedefiant.io/news/defi/sky-completes-rebrand-by-launching-new-dapp-and-tokens

FUNDRAISING

Bitget, Foresight Ventures invest $30 million in TON blockchain

The Open Network has secured $30 million from crypto exchange Bitget and Foresight Ventures to help grow ecosystem.

www.theblock.co/post/316975/bitget-foresight-ventures-invest-30-million-in-ton-blockchain

OTHER HEADLINES

BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin

BitGo says USDS is an "open participation" stablecoin that provides rewards to institutions for providing liquidity to the ecosystem.

www.coindesk.com/markets/2024/09/18/bitgo-to-enter-stablecoin-market-with-reward-bearing-usds-coin

Donald Trump makes his first bitcoin purchase on a burger at PubKey Bar in New York City

Republican presidential candidate Donald Trump made his first purchase using Bitcoin on a cheeseburger.

www.theblock.co/post/317197/donald-trump-makes-his-first-bitcoin-purchase-on-a-burger-at-pubkey-bar-in-new-york-city

BlackRock's new bitcoin paper outlines the cryptocurrency's qualities as 'unique' hedge against global risks

Bitcoin has outperformed all other major asset classes in seven of the last 10 years, according to BlackRock's whitepaper.

www.theblock.co/post/317126/blackrocks-new-bitcoin-paper-outlines-the-cryptocurrencys-qualities-as-unique-hedge-against-global-risks

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