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An unimaginable scenario is playing out in the global financial markets in 2025 as allies are turning into foes. Reuters reported that some European central banking and supervisory officials are questioning whether they can continue to rely on the US Federal Reserve to provide dollar funding in times of market stress. The development comes amid the de-dollarization agenda kick-started by emerging economies and now European agencies are questioning the US dollar’s usage amid tariff and trade tensions. Also Read: De-Dollarization: BlackRock CEO Speaks On US Dollar’s Future Six people familiar with the matter said on the condition of anonymity that some European officials have held informal discussions as their faith in the White House is shaken. Two sources close to the development revealed that European authorities are discussing whether they can find alternatives to the US central bank. The move coincides with the de-dollarization initiative which has inadvertently reached Europea...

Ripple featured CBDC tech for years, dumped it after Trump victory For years, Ripple funded Central Bank Digital Currency (CBDC) initiatives aimed at using its XRP Ledger (XRPL) for inter-central bank settlements. However, while the company once hoped that US Democrats like Kamala Harris would help bring its technology into the largest central bank of them all — the US Federal Reserve — it swiftly downplayed this stance during the closing stages of Donald Trump’s second successful run for president. Ripple’s CBDC initiatives date back to 2015, and it continued pushing for them through mid-2024. Indeed, as recently as June last year, Ripple.com was prominently featuring CBDCs on the “Solutions” tab of its homepage. But within a few days of Trump’s Bitcoin 2024 conference speech in which he promised to prohibit any US dollar CBDC, Ripple scrubbed any reference to CBDCs from its homepage . Ripple deleted their pro-CBDC page afte...

1. Federal Reserve Cuts Interest Rates by 50 Basis Points link The Federal Reserve announced a rate cut to 5%, lower than the anticipated 5.25%, marking the first rate reduction since March 2020. The median forecast indicates two 25-basis point cuts in 2024, totaling a 100-basis point reduction. Fed Governor Miki Bowman voted against the action, favoring only a 25-basis point cut, making this the first dissent from a board member since 2005. At the press conference, Jerome Powell stated that the 50-basis point cut would help sustain economic and labor market strength, reflecting the Fed’s confidence that inflation is moving toward the 2% target. China International Capital Corporation (CICC) remarked that the Fed’s move was more aggressive than expected. The Fed’s focus seems to have shifted from controlling inflation to prioritizing employment. Despite Powell denying victory over inflation, he now appears to be concentrating solely on employment. The Fed’s tolerance for rising unemplo...

The implications of the federal rate cut have already started to show their ripple effect. In his recent address, Jerome Powell, the Federal Reserve chair, shared his stance on the latest rate cut expectations, adding how a policy change is already under consideration. Powell’s remark has potentially caused a domino effect on the current US economy, with investors and organizations bracing for a headstrong economic collision that may either break or make the economy’s robustness. The new currency dynamics are also at play, which may change the course of the USD in the long haul. Also Read: Investors Pivot To ASEAN Amid Weak US Data Assumptions How US Interest Rates Cut May Strengthen Yuan? Source: Gina Sanders / Fotolia via Wodicka According to Bloomberg, Chinese companies may look forward to selling their $1 trillion worth of dollar-denominated assets once the rate cut expectations are finalized. This phenomenon can trigger an “avalanche” in space, amping the price of yuan by at least...

In a meeting that is massively important, the Federal Reserve has opted to leave interest rates unchanged at 5.25%–5.50% in July 2024. The US central bank has kept rates at its current 23-year high for more than a year. However, they are expected to begin cutting those rates in the coming months. The Fed has been consistent in its position regarding those highly anticipated cuts. It has held firm to its 2% inflation target, while adopting a wait-and-see approach to that figure coming into view. With inflation cooling and job gains slowing, those cuts are likely to happen soon. BREAKING: Federal Reserve leaves interest rates unchanged, remains at 5.25% – 5.50%. — Watcher.Guru (@WatcherGuru) July 31, 2024 Also Read: Federal Reserve Leave Interest Rates Unchanged in May 2024 Federal Reserve Leaves Interest Rates Unchanged as Cuts Near Entering 2024, the US interest rates were a massive point of discussion. After the Federal Reserve ended its year-long tightening campaign, Wall...

Join us as we discuss the significance of Bitcoin reaching $29,000 and why it seems to be unaffected by all the regulatory pressure and collapsing banks. In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem. We start things off with our main topic for today: Bitcoin (BTC) touched $29,000, a new high for 2023, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. This could also suggest the crypto market does not seem too bothered about the Commodity Futures Trading Commission’s lawsuit against Binance and its CEO Changpeng “CZ” Zhao. Even the Crypto Fear & Greed Index — which aims to numerically present the current “emotions and sentiments” toward Bi...

BTC price keeps traders and analysts in the dark as a week of macro triggers dawns, while Bitcoin network fundamentals plan new all-time highs. Bitcoin (BTC) starts a new week with consolidation in the air amid some of the least volatile conditions ever. Despite losing 5% in an hour last week, Bitcoin’s subsequent lack of volatility is on every trader’s mind. The question is whether that will change in the coming days. There are plenty of potential catalysts, from macroeconomic data to exchange setups and more, but which will win out — and in which direction it will send BTC price — remains to be seen. Behind the scenes, it remains business as usual for Bitcoin network fundamentals, with miners preserving their newfound buoyancy and ready for new all-time highs in difficulty. Cointelegraph takes a look at these major market-moving factors and summarizes opinions as to how they might shape BTC price action this week. Bitcoin price stays paralyzed after weekly close While anything can ...

Chances of a crypto bull market in 2023 decrease as the Fed maintains a hawkish stance and threats of a recession in the U.S. economy continue to appear. Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November, the most important reason was the U.S. Federal Reserve policy of tapering and raising interest rates. Bitcoin’s price had dropped 50% from its peak to lows of $33,100 before the LUNA-UST crash, thanks to the Fed rate hikes. The first significant drop in Bitcoin’s price was due to growing market uncertainty around potential rate hike rumors in November 2021. By January 2022, the stock market had already started showing cracks due to the increasing pressure of imminent tapering, which also negatively impacted crypto prices. BTC/USD daily price chart. Source: TradingView Fast forward year, and th...