Wall Street banking giant UBS forecasts further Fed rate cuts later this year. This comes as Fed Governor Stephen Miran claims the US-Iran war and tariffs will not have long-term impacts on inflation, but expects three rate cuts instead of four in 2026. Bitcoin and gold will rise further if the Federal Reserve proceeds with
The post UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks appeared first on CoinGape.
]]>Senator Cynthia Lummis calls out Fed Chair Jerome Powell for sidelining Bitcoin-friendly Governor Stephen Miran. President Donald Trump appointed Miran as Fed Governor after the Powell-led Federal Reserve did not act on his requests to lower interest rates. Since his appointment in September, Governor Miran has repeatedly pushed for aggressive rate cuts. The Fed lowered
The post Sen Cynthia Lummis Slams Powell for Keeping Bitcoin-Friendly Gov Miran Off Fed Board Committees appeared first on CoinGape.
]]>The Royal Government of Bhutan has continued its Bitcoin selling streak during the recent downturn in the market. This came as the BTC price fell to around $66,000 amid bearish projections. February Bitcoin Sale by Bhutan Hits $30 Million According to Arkham, the Royal government has made more sales from its BTC portfolio. They transferred
The post Bhutan Gov. Dumps More Bitcoin Amid $410M Institutional Sell-Off in BTC ETFs appeared first on CoinGape.
]]>Bitcoin and crypto market rebound slightly as a US district court has temporarily halted President Donald Trump from firing Federal Reserve Governor Lisa Cook on late Tuesday, continuing the legal battle further. This comes as President Trump seeks to challenge the long-held independence of the Federal Reserve for delaying interest rate cuts. Bitcoin and Crypto
The post Bitcoin, Crypto Market Rise as Court Halts Trump’s Bid to Oust Fed Gov Lisa Cook appeared first on CoinGape.
]]>Dogecoin Faces Big Changes As Elon’s Gov. Position & Shiba Inu Comes Under Massive Price Pressure From The Launch Of Panshibi CryptoDaily
Source link ]]>
Texas Lieutenant Governor Dan Patrick has announced plans to establish a Bitcoin reserve for the state as part of his top 40 priority bills for the 2025 legislative session. The proposal, listed as Senate Bill 21, aligns with growing efforts by several U.S. states to integrate Bitcoin into financial strategies.
Texas Joins States Exploring Bitcoin Reserves in 2025
In a recent press release, Texas Lieutenant Governor Dan Patrick confirmed that the state intends to establish a Bitcoin reserve. The initiative is part of his legislative agenda for 2025 and is included among 40 priority bills. The proposal will position Texas as a leader in digital asset adoption.
The Texas Bitcoin Reserve would serve as a state-held asset, aligning with legislative efforts seen in other regions.
In addition, the Texas Bitcoin Reserve is part of an effort to integrate digital assets into the state’s financial policies. Advocates believe it could provide Texas with an alternative asset class while strengthening its position in the crypto sector. The reserve would be managed under state guidelines to ensure compliance with financial regulations.
Moreover, the proposal follows past initiatives by Texas lawmakers to support cryptocurrency adoption. Texas has previously introduced policies favorable to Bitcoin mining and blockchain technology, making the reserve a logical step.
Earlier this week, Utah’s committee approved a bill to establish a Strategic Bitcoin Reserve, marking it the second state after Arizona to consider such a measure. This could lead to wider adoption among states.
Other States and Federal Reserve Discussions
Several states, including Oklahoma and Massachusetts, have proposed Bitcoin reserves as part of their legislative agendas. These efforts coincide with federal-level discussions on cryptocurrency reserves. Senator Cynthia Lummis has advocated for a national Bitcoin reserve, pushing for decisive action on the proposal ahead of the Czech Republic.
Despite growing interest in state and federal Bitcoin reserves, former President Donald Trump has not introduced a national reserve plan. Instead, he recently announced a crypto stockpile initiative that includes multiple digital assets. While this approach differs from direct Bitcoin reserves, it reflects a shift in government strategies toward crypto.
Senate Bill 14 Introduces Texas DOGE Initiative
In addition to the Bitcoin reserve proposal, Senate Bill 14 outlines the creation of a Texas DOGE initiative. The program is designed to improve government efficiency by utilizing blockchain-based solutions. This follows the precedent set by the U.S. government’s Elon Musk DOGE initiative, which has already been implemented in some sectors.
Texas’ legislative moves signal a growing trend among states adopting cryptocurrency-related policies.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin Surges 17% After DOGE Gov Launches Website with DOGE Logo Crypto Times
Source link ]]>
Elon Musk DOGE Gov Meme Fuels Political Speculation Before 2024 Election CoinChapter
Source link ]]>
Elon Musk’s ‘DOGE’ gov meme sends political speculation soaring Cointelegraph
Source link ]]>
Bank of Japan (BOJ) Governor on Tuesday said the central bank will raise interest rates further if the economy and prices perform as expected. Japanese yen rose toward 146 against US dollar, rebounding from two-week lows amid a hawkish outlook on Bank of Japan monetary policy. Is another Bitcoin price crash imminent due to Japanese yen carry trades?
BOJ Gov Reiterates Interest Rates Hike
Bank of Japan Governor Kazuo Ueda in a document submitted to a government panel chaired by outgoing Prime Minister Fumio Kishida reiterated further rate hikes, Bloomberg reported on September 3.
The recent affirmation reminded investors that despite the market meltdown triggered by the BOJ’s July rate hike, the central bank will raise borrowing costs provided the bank’s forecasts materialize. Japanese yen rose over 146 against the US dollar today after the remark.
Two-thirds of economists surveyed pointed to a rate hike again by the BOJ by the end of the year. Notably, 41% of respondents expect December as the most likely timing. On the contrary, Pacific Investment Management expected a rate hike in January.
Japan’s 10-year government bond yield climbed above 0.92%, hitting a four-week high on hawkish outlook by Bank of Japan.
Can Bitcoin Price and Crypto Market Crash?
As CoinGape earlier reported, Japan’s biggest brokerage firm Nomura Holdings confirmed that Japanese yen carry trades that crashed markets were making a comeback. Should the interest rate differences between the US and Japan remain elevated, more investors will enter Yen carry trades. This risks another Black Monday-type Bitcoin price crash, triggering sell-offs in the broader crypto market.
However, US Fed Chair Jerome Powell hinted at Fed rate cuts starting in September. According to CME FedWatch data, there’s a 67% odds of a 25 bps rate cut in September, with markets still expecting 100 bps rate cuts this year. This would prevent a market meltdown as the differential will narrow.
BTC price struggles to break above $60,000 amid market uncertainty. BTC pared today’s gains, with the price currently trading at $59,104. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating decline in interest among traders.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: