According to a Reuters report last week, citing unnamed sources, the cryptocurrency industry has been lobbying Trump to issue an executive order within his first 100 days in office to build up U.S. bitcoin reserves, ensure the industry has access to banking services, and create a cryptocurrency advisory council. The report also said that the industry expects at least one order to come on January 20. (Jin Ten)
According to Reuters, as of now, Trump has not nominated a successor to the next chairperson of the US Commodity Futures Trading Commission (CFTC), and the current chairperson, Rostin Behnam, has previously announced that he will resign on January 20, the inauguration day of President-elect Trump, which means that there may be a "gap" with the regulator for a period of time. Rostin Behnam led the CFTC for four years, most notably during the crackdown on cryptocurrency exchange Binance for violat...
Cryptocurrency and blockchain-related stock sellers have suffered significant losses since bitcoin surged to all-time highs on Nov. 6, according to Reuters, with data analytics firm Ortex disclosing that traders shorting MicroStrategy (MSTR. O) lost more than $1.20 billion between Nov. 6 and Nov. 8, and have lost more than $6 billion so far this year. As of the close on November 8, short sellers of cryptocurrency exchange operator Coinbase Global, crypto miner Riot Platform, MARA Holdings and Bi...
According to Reuters, the head of the international monetary fund (IMF), Kristalina Georgieva, warned on the 24th that the world is in danger of falling into a low-growth, high-debt path, which will reduce the resources that governments can use to improve opportunities for their people, tackle climate change and other challenges. The upcoming US Presidential Election on November 5 has raised concerns that Americans, who have been stimulated by high inflation during the administration of Democrat...
On July 22nd, according to Reuters, the Federal Reserve's policy meeting next week may remove the language of high inflation. If so, it would be the strongest signal yet that the Federal Reserve plans to cut interest rates as early as September and start its easing cycle. The adjustment of the description of inflation from high to more dovish words could also lead the Federal Reserve to modify another key sentence in its current policy statement: Until officials are more confident that inflation...