Russian President Vladimir Putin has signed a law allowing cryptocurrency mining in the country, state-owned media has reported, as lawmakers brainstorm how to skirt sanctions in the pariah state. #siamstr #Siamstr
On Aug. 5, Bitcoin dropped to as low as $49,000, rebounded, then fell again. However, as the US market opened, the price of digital assets began to recover, reaching around $56,000. Could we have bottomed already? #siamstr #Siamstr
Sens. Elizabeth Warren along with other Democratic lawmakers urged U.S. Commodity Futures Trading Commission Chair Rostin Behnam to "promptly" finalize a rule that would ban event contracts that allow bets on political events. Event markets, such as Kalshi and Polymarket, allow users to bet on the outcome of future events, including on the upcoming U.S. elections. Behnam said there has been a "significant uptick" in event contracts listed for trading on exchanges registered with the CFTC since 2021. #Siamstr #siamstr
As financial markets awoke to massive, cascading hits across the globe on Monday, multiple analysts used the same analogy to describe the downturn: a perfect storm. Jeremey Siegel on Monday called on the Fed to make an emergency 75 basis-point cut in the federal funds rate and another 75 bps cut in September. #siamstr #Siamstr
MicroStrategy does not look to slow down the expansion of its portfolio and is one of the largest institutional holders of Bitcoin. Looking forward, MicroStrategy files with the SEC for the green light to sell up to $2 billion in shares as the company continues buying up Bitcoin. The firm upsized its convertible senior notes offering by another $800 million and unveiled a 10-for-1 stock split, which is effective August 7. #siamstr #Siamstr
#siamstr #Siamstr
#siamstr #Siamstr
The Federal Reserve most likely won’t lower interest rates on Wednesday, but it could tee up a September cut—or pour cold water on the market’s hopes. The Fed’s policy making body will publish a statement and interest-rate decision at 2 p.m. ET today. Fed Chair Jerome Powell will deliver remarks and answer questions at a news conference beginning at 2:30 p.m. #siamstr #Siamstr
Trump’s statement, delivered with his characteristic bravado at the Bitcoin conference, tapped into a wellspring of frustration within the crypto community. Trump promised that if reelected, he would remove Gary Gensler from his position as Chair of the Securities and Exchange Commission (SEC). Data shows the Bitcoin Open Interest has shot up to a new all-time high (ATH) following the asset’s break beyond the $69,000 mark. #Siamstr #siamstr
#siamstr #Siamstr
