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FED Interest Rate Decision Announced
The US Federal Reserve (Fed) cut its benchmark interest rate by 25 basis points to a range of 4.50%-4.75%, in line with market expectations. This was the second rate cut in a row. The decision was unanimous with the policy statement largely unchanged. The Fed emphasized the importance of keeping a close eye on its dual target but gave no clear signal on future rate cuts and did not comment on the US election results. In addition, the phrase “more confident that inflation is moving toward target in a sustainable manner” was removed from the policy text
by Darkex Research – 1 min read
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Powell After Interest Rate Decision
Federal Reserve Chairman Jerome Powell said at a press conference that the Fed’s main objective is still to control inflation at the 2% target and that it will not deliberately keep inflation below 2% to compensate for the overshoots of the past few years, the report said. He pointed out that the US economy is currently outperforming the rest of the world, the labor market remains strong and core inflation remains elevated despite easing. The Fed’s current pace of policy remains restrictive, and Powell said it will continue to adjust interest rates cautiously to avoid the economic risks of moving too fast or too slow.
by Darkex Research – 1 min read
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New ATH in Bitcoin
Bitcoin, which broke a record after Republican candidate Donald Trump won the US elections, renewed its record after the Fed cut interest rates. After the Fed cut the policy rate by 25 basis points at its first meeting after the US elections, it rose above 76 thousand 956 dollars and broke a new record.
by Darkex Research – 1 min read
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Ethereum Foundation Publishes 2024 Report
The Ethereum Foundation (EF) has released its 2024 report, highlighting that its core values include long-term thinking, decentralization, and value preservation. According to the report, EF spent $134.9 million in 2023, of which 37.2% was spent on internal operations, 35.2% on supporting the development of new institutions and 25.7% on L1 R&D. EF has assets of $970 million and maintains a conservative financial strategy to respond to market volatility.
by Darkex Research – 1 min read
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MakerDAO voted to change its brand name to “Sky”
According to The Block, MakerDAO has voted to retain its rebranding as “Sky”, part of the “Endgame” plan proposed by founder Rune Christensen, which aims to launch a new stablecoin and establish a “sub-DAO” to build crypto applications and infrastructure. While some members of the community have doubts about the rebranding of the decentralized protocol, only four of the nearly 20 voting organizations control around 80% of the voting power, and all of them support keeping the Sky brand.
by Darkex Research – 1 min read
China Announces $1.4 Trillion New Financial Stimulus Package
China’s top law-making body, the Standing Congress, has announced a support plan for local governments whose debt burden has increased dramatically. Rising up to 10 trillion yuan, i.e. about 1.4 trillion dollars, and spread over many years, the program mostly provides for the restructuring and reduction of local governments’ debts. No details were given on the consumer support expected by the markets.
by Darkex Research – 1 min read
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BTC and ETH Options Expire Today
The options market reported today that it has launched centralized delivery of BTC and ETH options. According to the data, 49,000 BTC options expired with a Put Call Rate of 0.72 and a maximum pain point of $69,000 and a notional value of $3.7 billion, while in terms of ETH options, the number of expiring contracts reaches 295,000 with a Put Call Rate of 0.65 and a maximum pain point of $2,500 and a notional value of $860 million.
by Darkex Research – 1 min read
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BlackRock Bitcoin ETF IBIT
According to Spot on Chain, 11 Bitcoin ETFs in the US recorded the largest single-day inflows, totaling $1.372 billion, a 167-day high. Among them, BlackRock’s Bitcoin ETF (IBIT) saw an inflow of $1.169 billion yesterday, making it the largest one-day inflow since its launch.
by Darkex Research – 1 min read
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South Korean Regulators
According to the Korea Economic Daily, South Korea’s financial regulators will strengthen their monitoring of the market, with a particular focus on Donald Trump-related stocks and increased volatility in the cryptocurrency sector. This decision follows the recent election results in the United States and the recent statement from the Federal Open Market Committee (FED).
by Darkex Research – 1 min read
