According to the official announcement of the Department of Justice, Liu Zhou, the founder of crypto financial services company "MyTrade", pleaded guilty to market manipulation and conspiracy to commit fraud. U.S. District Judge Angel Kelley plans to sentence him on February 27, 2025. MyTrade provides financial services to cryptocurrency customers through its "MyTrade MM" website and online application, the Justice Department said. These services include laundering customers' cryptocurrencies on...
Analysts at Presto, the trading and financial services firm, said the US election could trigger a meltdown in the bond market, with implications for other assets such as bitcoin. Presto analysts Peter Chung and Min Jung issued the warning following a CNBC interview on Tuesday with prominent investor Paul Tudor Jones, in which Jones said he was bullish on bitcoin, gold, commodities and Nasdaq stocks in the current risk environment.
Global financial services firm Ebury said it expected the Federal Reserve to cut interest rates by 25 basis points later, and hinted that further cuts would be gradual, which would provide some short-term support for the dollar. "A 50 basis point rate cut does not appear to be coming, and we do not believe the FOMC will be ready to fully support market pricing of interest rates," said Matthew Ryan, market strategist at Ebury, in a note. He said futures pricing for a 115 basis point rate cut this...