The past week could mark a turning point for the market. Not only has the Federal Reserve started cutting interest rates, but another major central bank followed suit. As a result, Bitcoin's price is on the rise.
Bitcoin is now priced at $65,350, reflecting a 2.2% increase over the week. Ether has also crossed the $2,600 mark and is now at $2,645, showing a 4% gain over the past 7 days. Both cryptocurrencies have surpassed key psychological barriers. What is driving this growth?
Source: Cointelegraph
This week, the People’s Bank of China followed, reducing the reserve requirement ratio by 50 basis points, which is expected to release 1 trillion yuan ($142 billion USD) into the banking system. This could potentially boost the stock markets, and some of these funds might find their way into the cryptocurrency market.
Source: APNews
Kamala Harris reiterated her stance on blockchain during a meeting at the Economic Club of Pittsburgh. She stated:
"We will invest in biomanufacturing and aviation, maintain our lead in AI and quantum computing, blockchain, and other emerging technologies [and] expand our advantage in innovation and clean energy production."
However, it’s still unclear whether she explicitly supports the cryptocurrency sector.
Source: Cointelegraph
We’re addressing a recent fake news story circulating on social media and traditional media claiming that the SEC has classified Bitcoin miners as securities. This misinformation stems from a misinterpretation of documents related to the SEC’s lawsuit against the Green United scam.
Green United was selling investors "green boxes" that supposedly allowed access to mining GREEN tokens. The project turned out to be a scam, and the founder misused investors' funds for private investments.
The confusion about miners being classified as securities came from an X (formerly Twitter) account called WatcherGuru. However, the lawsuit documents contain no such statement, making this claim entirely false.
Source: Bloomberg Law
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