POWELL: CRYPTO IS ABOUT TO EXPLODE! (TRUMP CLAPS BACK!)
Altcoin Daily
Key Points from Fed Chair Jerome Powell's Statements
- Banks are able to serve crypto customers as long as they understand and manage the risks.
- The Federal Reserve is open to innovation and doesn't want to stifle banks from engaging with crypto activities.
- Powell suggests that a greater regulatory apparatus around crypto would be helpful.
Trump's Pressure on the Fed
- Trump has been putting public pressure on Powell to cut interest rates.
- The Fed has kept interest rates unchanged at 4.5%.
- Trump's actions may be seen as an attempt to influence the Federal Reserve, which is supposed to be independent.
Crypto Regulation and Outlook
- Fair crypto regulation is expected to be pushed through in the US in 2025.
- Pro-crypto laws are likely to be passed, which could lead to a bullish outlook for crypto.
- A strategic Bitcoin Reserve has been proposed, where the US would acquire and hold Bitcoin for 20 years.
Market Expectations
- Altcoins are expected to explode in the USA.
- A Solana futures ETF may be offered by the CME, which could lead to a Solana cash ETF.
- 2025 is expected to be a huge year for crypto, with a potential crypto cycle unlike any seen before.