🌙 Fed Holds Interest Rates

US equities and cryptos stay in the green!

Author

Mike Gavela
July 31, 2024

In partnership with

Crypto Roundup - July 31

The Federal Reserve decided to maintain the current interest rates, contributing to positive movements in both the stock and cryptocurrency markets. This decision reflects a cautious approach amid mixed economic signals. In regulatory news, the SEC amended its lawsuit against Binance, removing allegations that Solana and several other cryptocurrencies are unregistered securities, which marks a significant shift in its stance. Additionally, Tether reported a record-breaking profit for the second quarter of 2023, driven by the increasing demand for its stablecoin in a volatile market.

Top Stories:

  • Federal Reserve holds interest rates, maintaining a steady economic approach amid mixed economic data.

  • SEC revises Binance lawsuit, dropping allegations against Solana and other cryptocurrencies.

  • Tether reports record-breaking Q2 profit, highlighting significant growth in the stablecoin sector.

SPONSORED BY
MOOD GUMMIES

This cannabis startup pioneered “rapid onset” gummies

Most people prefer to smoke cannabis but that isn’t an option if you’re at work or in public.

That’s why we were so excited when we found out about Mood’s new Rapid Onset THC Gummies. They can take effect in as little as 5 minutes without the need for a lighter, lingering smells or any coughing.

Nobody will ever know you’re enjoying some THC.

We recommend you try them out because they offer a 100% money-back guarantee. And for a limited time, you can receive 20% off with code FIRST20.

TOP STORIES

Fed holds interest rates, US equities and cryptos stay in the green

The FOMC said it would be holding interest rates, marking the central bank’s eighth-straight pause since it stopped hiking rates a year ago.

blockworks.co/news/fed-holds-interest-rates-crypto-green

SEC Amends Binance Lawsuit, Drops Security Claims for Solana and Other Cryptocurrencies - The Defiant

The SEC’s lawsuit against Binance had classified SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as securities.

thedefiant.io/news/regulation/sec-amends-binance-lawsuit-drops-security-claims-for-solana-and-other-cryptocurrencies

Tether reports record-breaking $5.2B profit in first half of 2024

Tether reports record-breaking $5.2B Q2 profit, with US Treasury reserves reaching $97.6 billion.

cointelegraph.com/news/tether-reports-record-breaking-profit-q2

FUNDRAISING

A16z Crypto leads $9 million Series A round for DePIN project Daylight

Daylight, a DePIN project focused on energy distribution, has raised $9 million in a Series A funding round led by A16z Crypto.

www.theblock.co/post/308589/a16z-crypto-depin-project-daylight-funding

OTHER HEADLINES

XRP Surges 7% Amid Ripple-SEC Settlement Hopes, $600M Token Unlock

XRP trading activity is heightening in South Korea, where traders tend to get euphoric about rallying tokens.

www.coindesk.com/markets/2024/07/31/xrp-surges-7-amid-ripple-sec-settlement-hopes-600m-token-unlock

USDC trading volume soars 48% in July, driven by MiCA, market growth

The market cap for USDC surged in July as a result of compliance with new European rules governing stablecoins.

cointelegraph.com/news/usdc-trading-volume-soars-july-mica-market-growth

Degens Can Now Make Memecoins From Tweets - The Defiant

Degens of the world unite, for now there’s an even easier way to create memecoins.

thedefiant.io/news/defi/degens-can-now-make-memecoins-from-tweets

CRYPTO TWITTER (X)

SHARE!

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 85,000 investors and crypto degenerates who read Midas Crypto daily!