☄️The Fed lowered the rate by 0.5%, to 5%

This is the first cut since March 2020.

Also from the accompanying letter:
- Economic activity continues to expand at a solid pace.
- Job growth has slowed.
- The unemployment rate has risen but remains low.
- Inflation is moving steadily toward the 2% target.
- The economic outlook is uncertain. The Fed's further QE depends on macro data.

#fed

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🗣️ A 50 bp rate cut should not be perceived as the new normal" - Fed chief

During the press conference Jerome Powell said that the Fed will make rate decisions from meeting to meeting based on economic data and conditions.

He indicated that the US central bank may slow the pace of rate cuts or pause if it deems it necessary.

He also noted that the US economy is in good shape and the risks to the Fed's mandate of maximising employment and price stability are broadly balanced.

Inflation has declined but remains above the 2% target.

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💵Digital bank Revolut to launch its own stablecoin

The fintech giant serves more than 45,000,000 customers.

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🎉 The Tron network has approved a 50% reduction in commissions.

The change will come into effect tentatively at 15:00.

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💀 US lawmakers hint that cryptocurrency law will be passed before year's end

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💸 Tether invested $1,500,000 in Sorted Wallet

Sorted Wallet offers secure crypto transactions for unbanked users with simple phones or low-powered smartphones in developing regions.

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🚨 The BingX exchange has been hacked

BingX has been subjected to a hack in which more than $26 million in various crypto assets were stolen.

According to the exchange's statement, the funds remain safe at the moment.

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😭 A judge dismissed Consensys' lawsuit against the SEC and sided with the other side

Recall that Consensys sued the SEC in April, in part because of the agency's classification of ether as a security.

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💀 Institutionalists are no longer aggressively shorting bitcoin

This was stated by CryptoQuant CEO Ki Yoon Ju.

According to his observations, CME Futures net positions have decreased by 75% over the past 5 months.

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💀 This year, the turnover of crypto prediction markets exceeded $1.4bn

The prediction market emerged back in 2015, but the hype around the platforms started in 2024. Overall, the amount of funds blocked in the sector (TVL) reached $162 million.

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