Cut Too Late? ($)
View in Browser
Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 🧑⚖️ Congress Roasts SEC in Hearing Over 'Politicized' Regulation. The SEC faced a new grilling in Congress over its heavy-handed approach to crypto.
- 🇺🇸 GOP Lawmakers Demand SEC Clarity on Crypto Airdrops. Republican leaders want answers from Gensler over policy surrounding crypto airdrops.
- 🪙 Fintech Giant Revolut Planning Stablecoin Launch. The London-based fintech firm is reportedly planning a deeper crypto push.
📸 Daily Market Snapshot: Stock and crypto markets shrugged off today's news. A 50 basis point rate cut from The Fed apparently wasn't enough to juice token prices today, but crypto interestingly neither bought nor sold the news, instead shrugging it off with prices largely flat across the board.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.09T | ↗ 0.1% | ↗ 3.0% |
|
BTC $60,399 | ↗ 0.1% | ↗ 5.4% |
|
ETH $2,337 | ↘ 0.4% | ↘ 0.2% |
|
SKY $1,488 | ↘ 1.2% | ↘ 6.6% |
The Fed just cut interest rates for the first time since COVID, as expected, lowering its key policy rate by an aggressive 50 basis points. This long-awaited decision sparked immediate excitement among investors across stocks and crypto.
Powell’s money printer has finally been reactivated, and here’s why many people in the market are feeling positive that these rate cuts might kickstart another crypto bull run. 👇
Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.
Jerome Powell and the Federal Reset have finally cut rates, but the question on everyone’s mind is… What happens next?
Alfonso Peccatiello, known as "Macro Alf," is a macroeconomic analyst and investment strategist, and he’s joining the pod to help us figure this out.
Hear all of the analysis! 👇
Each week, Citizens get a curated list of market opportunities that the Bankless team is watching 👇
- 🦑 Bridging on the Squid 2.0 platform
- ⛓️ Exploring Ethervista’s new Arbitrum and Base deployments
- 🪙 Lending on Base with Silo Protocol
- 🧡 Swapping into Coinbase Wrapped Bitcoin (cbBTC)
- 🌊 Providing liquidity to new cbBTC pools on Aerodrome
- 👀 Trying the new SAX attention betting market on Base
- 🌈 Getting a 2x multiplier on swaps with Proof of Rainbow