Supreme Court justice sends shockwaves in dissent: 'Rules for thee, but not for me'

BitcoinWorld USD/JPY Price Forecast: Resilient Pair Holds Critical Gains Near 157.00 Monthly Peak TOKYO, May 2025 – The USD/JPY currency pair demonstrates remarkable

The post ‘Groundbreaking’: Barry Silbert Reacts to Approval of ETF with XRP Exposure appeared on BitcoinEthereumNews.com. A “combo” ETF  Crypto ETF trailblazer  Digital Currency Group founder Barry Silbert has reacted to the approval of the Grayscale Digital Large Cap Fund  (GDLC), the very first multi-crypto exchange-traded fund (ETF), describing it as “groundbreaking.”  “Grayscale continues to be the first mover, driving new product innovations that bridge tradfi and digital assets,” Silbert said while commenting on the news.  Peter Mintzberg, chief executive officer at Graysacle, claims that the team behind the world’s leading cryptocurrency asset manager is working “expeditiously” in order to bring the product to the market.  A “combo” ETF  The ETF in question offers exposure to Bitcoin (BTC), Ethereum (ETH), as well as several other major altcoins, including the Ripple-linked XRP token, Solana (SOL), and Cardano (ADA). XRP, for instance, has a 5.2% share of the fund, making it the third-largest constituent.  The fund initially debuted as a private placement for accredited investors back in early 2018, and its shares later became available on over-the-counter (OTC) markets.  In early July, the SEC approved the conversion of GDLC into an ETF, but it was then abruptly halted for a “review” shortly after this.  As of Sept. 17, the fund currently has a total of $915.6 million in assets.  Crypto ETF trailblazer  It is worth noting that Grayscale is usually credited with kickstarting the cryptocurrency ETF craze by winning its court case against the SEC.  The SEC ended up approving Bitcoin ETFs in early 2024 and then followed up with Ethereum ETFs.  Grayscale’s flagship GBTC currently boasts more than $20.5 billion in net assets, according to data provided by SoSoValue.  Source: https://u.today/groundbreaking-barry-silbert-reacts-to-approval-of-etf-with-xrp-exposure

The post Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps appeared on BitcoinEthereumNews.com. The Federal Reserve has made its first Fed rate cut this year following today’s FOMC meeting, lowering interest rates by 25 basis points (bps). This comes in line with expectations, while the crypto market awaits Fed Chair Jerome Powell’s speech for guidance on the committee’s stance moving forward. FOMC Makes First Fed Rate Cut This Year With 25 Bps Cut In a press release, the committee announced that it has decided to lower the target range for the federal funds rate by 25 bps from between 4.25% and 4.5% to 4% and 4.25%. This comes in line with expectations as market participants were pricing in a 25 bps cut, as against a 50 bps cut. This marks the first Fed rate cut this year, with the last cut before this coming last year in December. Notably, the Fed also made the first cut last year in September, although it was a 50 bps cut back then. All Fed officials voted in favor of a 25 bps cut except Stephen Miran, who dissented in favor of a 50 bps cut. This rate cut decision comes amid concerns that the labor market may be softening, with recent U.S. jobs data pointing to a weak labor market. The committee noted in the release that job gains have slowed, and that the unemployment rate has edged up but remains low. They added that inflation has moved up and remains somewhat elevated. Fed Chair Jerome Powell had also already signaled at the Jackson Hole Conference that they were likely to lower interest rates with the downside risk in the labor market rising. The committee reiterated this in the release that downside risks to employment have risen. Before the Fed rate cut decision, experts weighed in on whether the FOMC should make a 25 bps cut or…