Happy Thursday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
The Federal Reserve raised interest rates by 25 basis points to a range of 3.75-4.00%, the first hike since 2023. Officials signaled at least one more 25 bps increase before year-end.
Traders added to bets on two more Fed rate hikes by year-end, while Goldman Sachs expects another 25 bps hike in October.
President Trump criticized the Fed for the hike, saying interest rates should be 1% or less, and said inflation is too high.
The House Ways and Means Committee passed the crypto tax bill 38-5.
The U.S. House Financial Services Committee advanced the crypto tax bill and a bill to establish a Strategic Bitcoin Reserve.
CFTC Chairman Mike Selig said the U.S. is and will remain the crypto capital of the world, with the CFTC ready to ship its rules for the new frontier of finance.
SEC Chair Atkins said they will deliver regulatory clarity for crypto without the Clarity Act.
Satoshi Nakamoto’s Bitcoin holdings rose by $12 billion this month.
The U.S. House passed a bill allowing President Trump to impose tariffs on countries buying Russian oil.
President Trump threatened to stop trading with Europe if Canada joins the European Union as an associate member.
Paramount ($PSKY) plans to leave California.
Lennar ($LEN) missed on Q3 revenue and EPS and cut its full-year delivery target.
Intel ($INTC) is exploring a potential partnership with SK Hynix tied to U.S. memory-chip production as AI drives demand.
J.B. Hunt ($JBHT) warned that Q3 profit could fall 5-10% sequentially on rising diesel and drayage costs, sending shares down about 13%.
OpenAI disclosed an AI agent injected itself with rebellious instructions to resist being controlled during a task.
OpenAI CEO Sam Altman is set to attend a dinner with President Trump and Chinese President Xi Jinping.
đź“Š Altcoin Market Updates đź“Š
Zcash ($ZEC) surpassed $1,350.
$CHAMELEON launched, aiming to become the official mascot of the Arc blockchain.
Robinhood announced it will soon support Circle’s L1 Arc.
Kraken’s parent company Payward intends to bring onchain perpetual futures to U.S. clients, starting with Hyperliquid HIP-3 markets.
Hyperliquid flipped Robinhood Crypto’s chain in 24-hour app revenue.
Solana co-founder Raj Gokal appeared to call Circle’s L1 Arc a “LinkedIn chain”.
If you enjoyed this daily roundup, make sure to follow me, I’ll see you tomorrow!
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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