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Will Surprise 0.5% Fed Rate Cut Send Crypto to the Moon or Recession Concerns Skyrocketing?

Based on initial market reactions, the answer might be both!

Author

Austin Hodge
September 19, 2024 • Read Time: 10 minutes

In a major move to address recession concerns, the Federal Reserve slashed interest rates by 50 basis points, igniting a 3% jump in Bitcoin and 4% growth in Ethereum! On the other hand, the unexpectedly large cut sent ripples through the financial sector, sparked a $126 million wave of liquidations in cryptocurrency short positions, and was met with mixed feelings of enthusiastic crypto hopes for Q4 amidst recession concerns throughout the banking and economic world. To top it all off, the digital currency & CBDC movement i heating up - Let's dive in!

  • The Federal Reserve slashed interest rates by 50 basis points, initiating its first rate cut in four years. — Read More

  • 134 countries are now exploring digital currencies, marking a worldwide trend and representing 98% of global GDP. — Read More

  • USDC now available in Brazil and Mexico through local bank transfers and real-time payment systems, PIX and SPEI. — Read More

  • BitGo launches USDS stablecoin, taking on Coinbase and Tether in the competitive stablecoin market. — Read More

  • Solana's new Seeker smartphone offers advanced Web3 features at half the price of its predecessor. — Read More

  • Privado ID merges with Disco to unify digital identity infrastructure across Web2 and Web3. — Read More

  • Powell expresses confidence in economic resilience, citing growth, cooling inflation, and a strong labor market. — Read More

  • Trump becomes first former US president to use Bitcoin at NYC restaurant, handing out 'crypto burgers'. — Read More

  • Google Cloud launches a Blockchain RPC service to streamline decentralized application development on Ethereum. — Read More

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