Many experts voiced concerns that the confirmation of Kevin Warsh as Federal Reserve chair would lead to uncertainty about the central bank’s independence, particularly in setting interest rates. Kevin Warsh is set to be sworn in as the next chair of the US Federal Reserve Board of Governors on Friday amid speculation about whether he'll do what US President Donald Trump hopes he does: Lower interest rates once in office. On Wednesday, the US Senate voted largely along party lines to confirm Warsh as the next Fed chair, succeeding Jerome Powell. While Trump nominated both Fed governors in different terms, the president repeatedly threatened to fire Powell in recent months, saying that the Fed chair “should be lowering interest rates.” Source: Kalshi Read more
The NYDFS approvals allow GalaxyOne Prime NY to offer trading and financing services to institutional investors in one of the most tightly regulated US crypto markets. Galaxy Digital, a crypto-focused financial services company led by Mike Novogratz, has received a BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS), allowing it to expand regulated digital asset services to institutional clients in the state. The company said Monday that the approvals were granted to its subsidiary, GalaxyOne Prime NY, which provides trading and financing services to institutional investors. The licenses extend Galaxy’s regulatory reach into New York, one of the most tightly regulated jurisdictions for cryptocurrency businesses in the United States. Read more
Bitcoin positions itself for a rally above $80,000 after Strategy's $2 billion BTC buy, crumbling investor confidence in the US Treasury and a potential US-Iran deal. Key takeaways: Bitcoin (BTC) faced a rejection following a failed attempt to break above $82,000 on Thursday. A subsequent retest of the $76,000 level on Monday triggered $400 million in liquidations for bullish Bitcoin positions over a four-day period. While traders’ confidence took a hit from the 7% price decline, the prospects for recovering the $80,000 mark remain valid. Read more