A pre-Christmas Fed rate cut could boost spending, shift bond yields, lift risk assets and increase demand for crypto. The Fed’s Dec. 9-10 meeting carries unusual weight as markets wait to see whether another rate cut will arrive before Christmas, shaping bonds, equities and crypto. After two cuts in 2025, rates now sit at 3.75%-4.00%. Labor weakness and softer inflation support further easing, but officials remain divided because inflation risks have not fully cleared. A cooling job market, easing inflation and the end of quantitative tightening could justify another reduction and align with year-end liquidity needs. Read more
The Czech National Bank invested $1 million to test a crypto reserve that includes Bitcoin, a stablecoin and tokenized bank deposits. The Czech National Bank (CNB), the central bank of the Czech Republic, announced on Thursday the purchase of cryptocurrencies worth $1 million for the first time to test a digital asset reserve and gain “practical experience” in handling digital assets. CNB’s reserves will include Bitcoin (BTC), one US dollar-pegged stablecoin and one tokenized bank deposit, according to the announcement. The bank said that while the test is intended to study crypto and prepare the bank for international adoption to remain globally competitive, it is not planning to adopt a digital asset reserve in the “near future.” CNB governor Aleš Michl said: Read more
Bitcoin and crypto market sentiment hit seven-month lows, with the BTC price still above $100,000, while gold and silver received a post-shutdown boost. Bitcoin (BTC) and crypto traders are their most afraid in over six months as BTC price action clings to $100,000. Key points: Bitcoin and altcoins plunge to their deepest “extreme fear” levels since March this year. Read more
Acurast raised $11 million to launch a smartphone-based confidential compute network that claims tamper-resistant execution on consumer phones. Smartphone-based decentralized confidential compute project Acurast has raised $11 million, claiming tamper-resistant execution on consumer phones and secure hardware verification. According to a Thursday announcement shared with Cointelegraph, Acurast raised $11 million from Ethereum co-founder and Polkadot founder Gavin Wood, MN Capital founder Michael van de Poppe and GlueNet founder Ogle, among others. The project aims to launch its mainnet on Nov. 17, and plans to release its native token ACU alongside it. Acurast founder Alessandro De Carli said “billions of smartphones are the most battle-tested hardware on earth” and that the company hopes to reduce costs by leveraging them for “verifiable, confidential compute.” Read more
Unknown whales continue to increase their Ether exposure as technical indicators suggest a short-term ETH price rally to $4,000. Despite the Ether (ETH) price drawdowns, whales continue to buy hundreds of thousands of ETH, sparking hopes for a short-term recovery. Key takeaways: An Ether whale increases stash to $1.3 billion in ETH, signaling accumulation. Read more