Fed Decision and Its Impact on the Dollar
According to foreign press analyses, markets have already fully priced in a 25-basis-point interest rate cut. While the dollar index is hovering near its lowest levels in 41 months, the S&P 500 and Nasdaq indices have hit record highs. If the Fed only implements the expected 25 bp cut, there is a high probability of a “buy the rumor, sell the fact” reaction, which could lead to a dollar rebound and US stock markets facing profit-taking. Although the probability of a 50 bp cut appears to be only 3% in the markets, the possibility that downward revisions in employment data could force the Fed to take a bigger step is not being ruled out.
US-UK Crypto Cooperation
The US and UK have decided to cooperate more closely on crypto regulations. Representatives from institutions such as Bank of America, Barclays, Circle, Citigroup, Coinbase, and Ripple participated in the talks. Cassie Craddock, Ripple’s UK-Europe President, said this cooperation would contribute to the UK becoming a leading digital asset center.
Trump’s UK Visit and Crypto Strategy
Trump’s visit to the UK brought to the agenda expectations of a friendly regulatory framework for the crypto sector, in addition to tariffs and artificial intelligence. The crypto industry is closely monitoring whether the UK will adopt more innovative regulations after this visit.
Citibank’s Expectation
Citibank predicts that Fed members Waller, Bowman, and Mester may vote for a 50 bp cut at the meeting. This indicates that different views may emerge at the September meeting.
Crypto Companies and Senate Meeting
Leading representatives of the crypto sector will hold a roundtable meeting tomorrow with the Senate Banking Committee leadership. Discussions will cover critical topics such as market structure law, the distinction between securities and commodities, and DeFi transactions. Industry leaders such as Michael Saylor may be among those attending the meeting.
EU Prepares 19th Sanctions Package
European Commission President Ursula von der Leyen said a new round of sanctions against Russia will be announced soon. This round will specifically target crypto assets, banks, and the energy sector.
Tether Returns to the US
Tether executives announced that the company will return to the US market and aims to become the dominant stablecoin issuer in the country. The new token, USAT, will be developed specifically for the US. The company announced that it earned $13.7 billion in profit last year and does not need to raise capital, but instead plans to invest $5 billion in the US.
Crypto Fraud Case in the US
A court in Colorado found Pastor Eli Regalado and his wife guilty of $3 million in crypto fraud. The Regalados raised funds from at least 596 investors by issuing INDXcoin and Sumcoin tokens through their churches. The court found that some of these funds were used for luxury spending.
Trump Extends TikTok Ban Again
Trump has extended the recognized period for the TikTok ban for the fourth time.
Malta Objects to Centralized Crypto Regulation in the EU
According to Reuters, the Malta Financial Services Authority has opposed the EU’s plan to regulate crypto companies from a single center (ESMA). Malta is resisting regulatory centralization on the grounds that it would create more bureaucracy.
Vitalik’s Ethereum Goals
Vitalik Buterin announced at a conference in Japan that Ethereum’s short-term goal is to increase the L1 gas limit. He mentioned interoperability between L2s in the medium term and a quantum-resistant, simple, and formally verified Ethereum vision in the long term.
New ETF Applications from Tuttle Capital
Tuttle Capital has filed applications for three ETFs linked to BONK, Litecoin, and SUI.
US House of Representatives Moves to Ban CBDCs
The House plans to add a CBDC ban to the market structure bill.
Bitcoin and Ethereum ETF Data
- On September 16, $292 million flowed into Bitcoin spot ETFs; the largest inflow was into BlackRock’s IBIT ETF ($209M).
Ethereum spot ETFs saw $61.7 million in outflows on the same day. The largest outflow was from Fidelity’s FETH ETF ($48.1M), while Bitwise’s ETHW ETF saw $6.7 million in inflows.
