In this weekly recap, we cover:
- Fed Cuts Interest Rates for First Time Since 2020: The U.S. Federal Reserve reduced interest rates by 50 basis points, signaling potential shifts for risk assets like Bitcoin.
- Sam Bankman-Fried Appeals Conviction: The former FTX CEO is pushing for a new trial, citing alleged judicial bias during his fraud and money laundering case.
- Vitalik Buterin on Crypto Usability: Ethereum’s co-founder declared that crypto is entering a new era of usability, with significantly lower transaction fees and better user experiences.
- Coinbase Denies Bitcoin IOU Rumors: CEO Brian Armstrong refuted claims that Coinbase issued uncollateralized Bitcoin IOUs to BlackRock, dismissing them as conspiracy theories.
- Trump Promotes DeFi Project on X Space: Donald Trump reaffirmed his support for crypto while promoting his DeFi project, World Liberty Financial, despite skepticism over the lack of details.
- SEC Grants Exemptions to Crypto Custody Rule: The SEC revealed that some financial institutions received exemptions from the controversial SAB 121 rule.
- BlackRock’s Bitcoin Hedge Report: BlackRock released a report highlighting Bitcoin as a unique hedge against global risks.
- Mashinsky Seeks Witness Testimony: Former Celsius CEO Alex Mashinsky, facing a 115-year sentence, is calling on key witnesses to testify in his defense as part of his legal battle.
- CZ Set for Release: Binance founder Changpeng Zhao is set to be released from prison on September 29, after serving time for violating the Bank Secrecy Act.
- Revolut Plans Stablecoin Launch: London-based fintech giant Revolut is preparing to launch its own stablecoin.
