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1ïžâŁ Bitcoin Jumps to $105,000 as Fed Fears Fade đŻ
The price of BTC has rebounded back to $105,000 after experiencing a dip down to $101,800 yesterday. Notably, the dip came after the Federal Reserve announced its decision to leave its benchmark interest rate unchanged, keeping it within the target range of 4.25% to 4.50%. The interest rate pause comes after three consecutive rate cuts since September, which slashed the federal funds rate by 100 basis points. During a post-meeting press conference, Fed Chair Jerome Powell explained that continued economic strength and persistent inflation influenced the decision to hold rates steady.
2ïžâŁ Phantom Wallet Adds Support For Layer 1 Sui In Latest Multi-Chain Push đ§
Crypto wallet platform Phantom reportedly added support for the Sui blockchain on Wednesday. This makes Sui, Phantomâs fourth Layer 1 blockchain integration. Sui is also the first Move-based chain on the Phantom Wallet. The integration allows Phantom users to manage their SUI, access Sui-native tokens like BLUE and SEND, swap assets and interact with dApps like Suilend, Navi, Aftermath and Bluefin. The plan to integrate Sui was first unveiled in December last year.
Sui Foundation Managing Director Christian Thompson stated,
The launch of Sui as the first Move-based chain on the Phantom Wallet validates what the community has accomplished in the past year. Suiâs time has arrived, and it is clear that the ecosystem is ready to onboard the next billion users into crypto.
3ïžâŁ Trump Media Partners With Charles Schwab, Expands Into Crypto Financial Services âŒïž
The Trump Media and Technology Group (TMTG), a media conglomerate partially owned by US President Donald Trump, is reportedly expanding its operations into financial services and cryptocurrencies under the brand name âTruth.Fi.â The move is part of TMTGâs plan to diversify the companyâs cash and cash-equivalent reserves of over $700 million as of December 31, 2024. To that effect, the board has approved the investment of up to $250 million. This investment capital, which will be custodied by Charles Schwab, will reportedly be invested in traditional investment vehicles, separately managed accounts (SMAs), exchange-traded funds (ETFs), "bitcoin and similar cryptocurrencies or crypto-related securities."
4ïžâŁ Digital Currency Group Spins Out New 'Self-Mining' Crypto Mining Subsidiary đž
Digital Currency Group (DCG) has announced the launch of Fortitude Mining - a new self-mining/solo-mining cryptocurrency mining subsidiary focused on âachieving strong returns by mining Bitcoin and other high-growth digital assets in emerging ecosystems with attractive return profiles.â
According to the announcement, Fortitude Mining has been established as DCGâs standalone mining business. The mining operation was previously part of Foundry, a decentralised mining and staking service. Fortitude Miningâs website lists Andrea Childs as the CEO. Childs joined Foundry in 2020 before heading the new DCG subsidiary.
5ïžâŁ Robinhood Teases Bitcoin Futures Trading In Addition To Oil And Gold âĄïž
Online trading platform Robinhood is reportedly rolling out futures trading for several assets, including the âS&P 500, oil, Bitcoin, and more.â The platform noted the new service is "coming soon." This is the latest in a series of moves that seek to offer the platformâs users additional crypto-related investment opportunities.
6ïžâŁ Lawmakers In El Salvador Rush New Bitcoin Reform After IMF Deal â¶ïžAccording to a Reuters report, El Salvadorâs Congress has approved legislation that amends its Bitcoin laws to make them more compliant with the terms of a $1.4 billion loan deal struck with the International Monetary Fund (IMF). Notably, the terms of the IMF deal seek to adjust the countryâs exposure to crypto. It also requires the government to make the acceptance of BTC payments optional and voluntary for private-sector merchants. The bill was ratified by the countryâs Legislative Assembly just minutes after President Nayib Bukele sent in the legislation.