Latest Developments in the Cryptocurrency Market
Here are the key updates from January 15 to early January 16:
- Federal Reserve Governor Bowman reiterated the need for a 150 basis-point rate cut this year to address the current economic climate.
- Crypto security startup Project Eleven successfully raised $20 million, drawing attention in the industry.
- According to Republican sources, Federal Reserve Chair Powell may skip the semiannual congressional testimony this year.
- Coinbase CEO stated the current version of the Senate cryptocurrency bill draft is not acceptable.
- The U.S. SEC concluded its multi-year investigation into the Zcash Foundation, confirming no enforcement action will be taken.
- The Fed's Beige Book noted that most regions anticipate modest to moderate growth over the coming months.
- The Senate's market structure bill for cryptocurrency has entered a critical phase, with more than 70 amendments awaiting votes.
- Some amendments will be voted on Thursday, but the review session has been postponed to January 27.
These developments highlight the ongoing evolution of the cryptocurrency market in terms of policy, regulation, and industry funding.