By Kapil Rajyaguru
Bitcoin Breaks $63K After Fed Rate Cut; Ethereum Reclaims $2700
According to some articles, Bitcoin has touched $63K for the first time. The Fed decided to increase rates by 0.5%. The coin Ethereum, which reached $2,700, has absorbed the shock of the rate cut. The price of several other cryptocurrencies, for example, Ripple (XRP) and Polkadot (DOT), has soared. The meme coin market’s pump increased its value by $45 billion.Kont (NEIRO) expresses gratitude for the meme market capitalization. The meme coin grew by 1,400%. MicroStrategy’s intention to sell $700 million worth of its stock in Bitcoin is also running on us.
BitGo Introduces USDS Stablecoin, Aiming to Shift Market Dynamics.
BitGo has introduced the upcoming stablecoin USDS, set to launch internationally in January 2025. Only composed of U.S. dollars, USDS will receive additional backing from government bonds and cash to maintain liquidity. To give clients a transparent verification of the stablecoin’s collateral, BitGo plans to provide a real-time realization of its reserves.
Binance Clarifies ‘WazirX Ownership Allegations’ Amid $235mn Hack.
Due to a $235 million hack, Binance disassociated WazirX and made it clear that Binance neither ran nor owned it. Earlier, the exchange claimed Binance had incorporated it, but Binance denied any such agreement, citing the contract’s ultimatum as the reason. Furthermore, the inefficiency in isolating the hacked data is a significant concern.Binance has criticized WazirX. Binance has criticized WazirX for its handling of a cyber-attack that led to the loss of customer funds.
German Authorities Shut Down 47 Crypto Exchanges Involved in Criminal Activities.
German law enforcement closed down 47 cryptocurrency exchanges with the alleged connection to illegal activities.These platforms faced accusations of enabling extensive money laundering activities. The shut-down exchanges failed to comply with anti-money laundering (AML) and Know-Your-Customer (KYC) guidelines. Furthermore, Singapore launched an investigation into Worldcoin accounts and tokens, focusing on the unauthorized third parties’ resale.
Solana Reveals Details of Its New Seeker Crypto Smartphone.
With a lighter model, an improved camera, and a longer-lasting battery than its predecessor Saga, Solana Mobile has just introduced its latest Seeker crypto smartphone, set for release in 2025. This piece of information caused Solana’s native token (SOL) to pop up by 6%, proving the public’s increasing excitement about the device’s enhancement as well as its affordable price point.
Burgers and Bitcoin: Donald Trump Demonstrates Support for BTC at NYC Bar.
Donald Trump displayed his stand on Bitcoin by using it to order burgers when he appeared at a bar in New York City. This incident heightened interest in digital assets. The Trump-like meme coin, MAGA (TRUMP), experienced a 6.5% price rise during the incident, but experienced a nearly 25% price drop at the beginning of the week following Trump’s escape in the second assassination attempt.
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