Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
The three major indices of the U.S. stock market are showing an upward trend. The Nasdaq Composite Index is trading at 17,845.26 points, up 0.60% from the previous day as of 00:22 on the 9th. The Dow Jones Index is up 0.46% at 41,304.84 points, and the S&P 500 Index is up 0.41% at 5,654.50 points.
The three major U.S. stock indices closed with gains. The Nasdaq Composite Index rose 0.27% from the previous day to 17,738.16 points on the 8th. The Dow Jones Index rose 0.70% to 41,113.97 points, and the S&P 500 Index closed up 0.41% at 5,629.67 points.
On the 7th (local time), according to CNBC, Jerome Powell, the Chair of the United States Federal Reserve (Fed), stated that he has "no comment" on whether he plans to remain on the Federal Reserve Board even if he is no longer the Chair. He added, "I am focused on making the best decisions for the American people," and "I have never requested a meeting with President Donald Trump, nor do I plan to."
On the 7th (local time), according to CNBC, Jerome Powell, the Chair of the United States Federal Reserve System (Fed), responded to a reporter's question asking, 'You previously predicted two interest rate cuts this year. Is that still unchanged?' by stating, "Depending on how future conditions unfold, we may cut rates or maintain the current level." He further stated, "There is no reason to make a hasty decision," adding, "Another FOMC meeting is scheduled to be held in a few weeks, and we will act according to the situation."
On the 7th (local time), according to CNBC, Jerome Powell, the Chair of the U.S. Federal Reserve (Fed), stated that "the economic impact from tariff data has not yet been significant," and "there are no signs of a recession in the current economic data." He added, "Concerns among businesses and households are growing. If nothing occurs to alleviate these concerns, it is expected to be reflected in the data within weeks or months."
According to CNBC on the 7th (local time), Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), stated, "As negotiations and discussions on tariffs progress, we will be able to secure more data," and added, "If problems arise, we are in a position to respond quickly." He continued, "The uncertainty of tariffs is too great. If the tariff policy continues, it may be difficult to achieve this year's goals," and added, "A preemptive rate cut is a challenging situation."
According to CNBC on the 7th (local time), Jerome Powell, the Chair of the U.S. Federal Reserve (Fed), stated that "The key to inflation is the scale and timing of tariffs and data," and "Overall core inflation is good. It seems prudent to wait until the direction of government policy becomes clear before hastily changing policies or directions." He continued, "We cannot know what situation will unfold. I don't think the Fed needs to rush to adjust rates," adding that "patience is needed at this time."
According to CNBC on the 7th (local time), Jerome Powell, the Chair of the United States Federal Reserve (Fed), stated that "President Donald Trump's request for a rate cut does not affect our work in any way."
On the 7th (local time), according to CNBC, Jerome Powell, the Chairman of the U.S. Federal Reserve (Fed), stated, "Respondents to the survey cited tariffs as a major factor raising inflation expectations. The tariffs were much larger than previously anticipated. If the announced large-scale tariff increases continue, inflation will rise and employment will decrease." He continued, "Economic outlook uncertainty has further expanded. FOMC members have determined that the risks of unemployment and inflation have increased," adding, "Tariffs and trade policies have significantly shaken GDP and various data. It is still unknown what impact the economic uncertainty caused by these policies will have in the future."
According to Walter Bloomberg on the 7th (local time), the US stock and virtual asset (cryptocurrency) trading app Robinhood plans to implement blockchain for trading US assets in Europe.
Bitcoin (BTC) temporarily returned the $96,000 level. Meanwhile, BTC is trading at $95,954.93, up 1.39% from the previous day, based on the Binance Tether (USDT) market as of 3:10 on the 8th.
The Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) announced in an official statement on the 7th (local time) that "recent economic indicators remain robust, but the benchmark interest rate will be frozen. Future adjustments will be determined based on data." It continued, "The unemployment rate has stabilized at a low level in recent months, and the labor market remains strong, but inflation is slightly high," adding, "Recently, economic outlook uncertainty has increased, and the risks of high unemployment and high inflation have both risen." Furthermore, "All members, including Chairman Jerome Powell, agreed to freeze the interest rate at this meeting," it added.
The Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) announced on the 7th (local time) through an official statement that it will hold the interest rates steady. This aligns with market expectations. As a result, the US interest rate remains at 4.25%~4.50%.
On the 7th (local time), according to the Chicago Mercantile Exchange FedWatch, traders are predicting a 97.7% probability that the Federal Reserve (Fed) will hold the benchmark interest rate steady at the FOMC meeting. The probability of a 0.25% cut was at 2.3%.
Crypto in America host Eleanor Terrett reported on the 7th (local time) via X (formerly Twitter) that New York State Democratic Assemblyman Ritchie Torres has submitted a bill to prevent federal employees and their immediate families from profiting from meme coins and stablecoins.
On the 7th (local time), according to the cryptocurrency specialized media Watcher Guru, Changpeng Zhao, the founder of Binance, revealed in an interview that he applied for a pardon to former U.S. President Donald Trump about two weeks ago. In March of this year, Bloomberg and The Wall Street Journal reported that the Trump family was discussing acquiring a stake in Binance US and a pardon for Changpeng Zhao, which he refuted as groundless. Changpeng Zhao said, "After the media reports came out, I decided to apply for a pardon. If such reports are coming out, I thought it might be better to officially apply for a pardon," and added, "The lawyers in charge are proceeding with this. We will follow the legal procedures for the pardon process."
On the 7th (local time), Bloomberg reported that G7 leaders are expected to address North Korea's hacking and virtual asset (cryptocurrency) theft issues as a major agenda item at the summit to be held in mid-June in Alberta, Canada. North Korean hackers have recently been found to be stealing billions of dollars worth of virtual assets from companies and exchanges, using them as a key means to evade sanctions and fund weapons of mass destruction. Meanwhile, G7 is expected to strengthen international cooperation to block illegal funding through virtual assets at the meeting.
Paolo Ardoino, the CEO of Tether(USDT), announced on the 7th (local time) via X(formerly Twitter) that "Tether AI and its goals will be announced at the Milan Artificial Intelligence(AI) Week on May 14th (local time)."
According to the cryptocurrency-focused media WuBlockchain on the 7th (local time), the global cryptocurrency exchange Binance has maintained an over 100% reserve ratio (the ratio of Binance's holdings to user assets) for 30 consecutive months. Meanwhile, the holdings of Bitcoin (BTC) and Ethereum (ETH) have slightly decreased compared to the previous month, while USDT has slightly increased.
According to cryptocurrency-focused media outlet CoinDesk on the 7th (local time), it has been revealed that New York prosecutors requested the U.S. Securities and Exchange Commission (SEC) to consider Ethereum (ETH) as a security in the 2023 lawsuit against KuCoin. This information came to light as Coinbase disclosed SEC internal documents obtained through the Freedom of Information Act (FOIA). According to the documents, Shamiso Maswoswe, then Director of the New York State Investor Protection Bureau, requested the SEC to "support the claim that ETH is a security" by submitting a court opinion. However, the SEC did not express an official position at the time as opinions on whether ETH is a security were not finalized. The media added, "The issue of whether ETH is a security could potentially influence the regulatory climate for cryptocurrencies in the United States."
American venture capitalist and Bitcoin (BTC) maximalist Tim Draper attended the Financial Times Digital Assets Summit on the 7th (local time) and argued that companies that have not yet purchased Bitcoin are irresponsible. According to Decrypt, a cryptocurrency-focused media outlet, he stated, "Everyone should buy at least a little Bitcoin," and emphasized, "Governments are also realizing that they need to add Bitcoin to their treasury." He added, "I predict that Bitcoin (BTC) will surpass $250,000 by the end of 2025," and "I want to create a fund operated with cryptocurrencies within the next five years. I want to raise funds with Bitcoin, invest in companies with Bitcoin, and pay employees with Bitcoin."
According to DL News, a cryptocurrency-focused media outlet, Arbitrum (ARB) has fallen 71% over the past year due to low governance voting participation. The Arbitrum community is discussing a proposal to lower the governance proposal approval rate from the current 5% to 4.5%. The media added, "In addition to Arbitrum, governance token projects are also considering improving voting incentives and participation."
Hayden Adams, the founder of Uniswap(UNI), announced on the 7th (local time) via official X(formerly Twitter) that "the complex text of addresses has been removed with the application of EIP-7702(account abstraction) in the Ethereum(ETH) Pectra upgrade," and "Uniswap plans to launch its own smart wallet in the future." Previously, Ethereum(ETH) applied the Pectra upgrade at epoch 364032.
The three major U.S. stock indices are showing mixed trends. As of 00:38 on the 8th, the Nasdaq Composite Index is trading at 17,610.72 points, down 0.45% from the previous day. The Dow Jones Index is up 0.50% at 41,033.90 points, and the S&P 500 Index is up 0.01% at 5,607.31 points.
On the 6th (local time), the on-chain data analysis platform Spot On Chain reported on X (formerly Twitter) that the Trump family's DeFi project World Liberty Finance (WLFI) transferred $4.51 million in virtual assets to a new wallet over the past 45 minutes. These were AVAX ($2.06 million), MOVE ($1.27 million), and SEI ($1.18 million), with a high possibility of being transferred to Binance's institutional custody platform Ceffu.
The three major indices of the US stock market closed lower. The Nasdaq Composite Index fell by 0.87% compared to the previous day, recording 17,689.66 points on the 7th. The Dow Jones Index fell by 0.95% to 40,828.69 points, and the S&P 500 Index closed at 5,603.87 points, down 0.83%.
Bitcoin (BTC) Lightning-based payment app Strike has launched a new virtual asset (cryptocurrency) lending program. According to the virtual asset specialized media The Block on the 6th (local time), this is Strike Lending, a service for individual users and businesses. Meanwhile, it has been launched for users in some regions of the United States and plans to expand internationally in the future.
James Seyffart, a Bloomberg analyst, reported on the 6th (local time) via X (formerly Twitter) that Bitwise has submitted an application (S-1) to the United States Securities and Exchange Commission (SEC) for the launch of a NEAR Exchange-Traded Fund (ETF).
Bitcoin (BTC) briefly recovered to the $95,000 level. Meanwhile, BTC is trading at $95,091.84, up 0.38% from the previous day, as of 4:04 on the 7th, based on the Binance Tether (USDT) market.
On the 6th (local time), according to the virtual asset (cryptocurrency) specialized media CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) announced that it has withdrawn its appeal against the virtual asset-based prediction market Kalshi. Previously, the CFTC had banned betting on political issues in 2023, and Kalshi filed a lawsuit claiming it was overregulation. As a result, both parties voluntarily withdrew the lawsuit and agreed to bear their own legal costs.