Regulation
US Fed Calls Emergency Meeting As Japan Markets Collapse
In an unprecedented move, the U.S. Federal Reserve (Fed) has reportedly called for an emergency meeting today. This meeting aims to reassess interest rates as global markets experience severe downturns. Moreover, analysts expect a Fed rate cut by 50 basis points (bps) after the meeting.
US Fed Emergency Meeting Amid Global Market Crash
The Japanese yen (JPY) has plummeted by 13%, while the Korean and Taiwanese markets are down nearly 10%. Furthermore, Bitcoin (BTC) has seen a drastic 18% decline over the past five days. Meanwhile, the S&P futures have dropped by 4%. According to reports, the U.S. Fed has called for an emergency meeting amid market uncertainty.
The situation has triggered significant concerns, with the Federal Reserve expected to drop interest rates by 0.5% following the emergency meeting. According to CNBC host Ran Neuner, this is a critical moment: “This is the moment we have been waiting for.” He added, “The FED will need to react really fast to avoid a meltdown that could make 2008 look like a joke. It’s an election year. I’m expecting emergency action.”
The catalyst for this financial turmoil appears to be the reversal of the Japanese cash and carry trade, which has led to widespread panic across the global markets. The September rate cut probability has now increased to 100%, reflecting the urgency of the situation.
Market analysts suggest that an interest rate cut could provide some relief. Historically, Fed rate cuts have been used as a tool to stabilize markets, notably during the 2007-2008 financial crisis. “Interest rate cuts saved the housing market in 2007,” noted one analyst.
The Federal Reserve’s quick response is crucial to preventing further economic instability. The emergency meeting underscores the gravity of the current market conditions and the need for immediate action. However, Bitcoin critic and renowned economist Peter Schiff expects a recession in case the U.S. Fed cuts interest rates.
Kritika Mehta
Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
US President Donald Trump has revealed that Tesla CEO Elon Musk and Vivek Ramaswamy will lead a newly created Department of Government Efficiency, or “DOGE.” This initiative, aimed at streamlining government operations and reducing bureaucratic waste, aligns with Trump’s “Save America” movement and promises to reshape federal spending and regulatory practices.
Following the announcement, Dogecoin (DOGE) experienced a surge in trading, with analysts predicting further growth in its value, fueled by renewed interest in the cryptocurrency market.
Donald Trump Appoints Elon Musk & Vivek Ramaswamy To Lead D.O.G.E
According to US President Donald Trump’s statement, the Department of Government Efficiency (D.O.G.E) will focus on cutting down unnecessary regulations, reducing wasteful expenditures, and restructuring federal agencies.
Elon Musk and Ramaswamy will lead this effort from outside the federal government, partnering with the White House and the Office of Management and Budget (OMB) to drive large-scale reform. Trump described the project as potentially “The Manhattan Project” of modern government, emphasizing the ambitious nature of the initiative.
The DOGE initiative has been positioned as a patriotic mission to improve government accountability and efficiency, making the federal system more responsive to “We the People.” Trump expressed confidence that this effort would create a “leaner” and “more accountable” government by July 4, 2026, in time for the United States’ 250th anniversary. Post the announcement, Tesla CEO Elon Musk echoed the sentiment, suggesting that the changes would send “shockwaves through the system.”
Dogecoin Price To Rally Post DOGE Announcement?
The announcement of the DOGE initiative had an unexpected impact on Dogecoin, which saw a sudden rally in value following the news. Dogecoin’s price increased by nearly 10%, with trading volume rising as investors showed renewed interest in the meme-inspired cryptocurrency.
Crypto analysts are now forecasting that Dogecoin could reach $2.40, with some analysts predicting even higher targets if momentum continues.
Ali Martinez, a prominent crypto market analyst, shared a bullish outlook on Dogecoin, noting that the cryptocurrency could potentially hit $2.40 if current trends hold. Martinez added that the price could climb even higher, with a speculative target of $18 if institutional interest in meme coins grows. This optimism has sparked excitement within the Dogecoin community, especially as other meme coins have also seen price increases in recent days.
Speculation Over Potential DOGE ETF Fuels Further Interest
Speculation around a possible Dogecoin exchange-traded fund (ETF) has also contributed to the cryptocurrency’s upward trend. Bloomberg senior ETF analyst Eric Balchunas has suggested that Dogecoin could be the next cryptocurrency to get the ETF treatment, given recent ETF applications for other cryptocurrencies.
There is as of now no official application for a DOGE ETF but fans of the crypto are optimistic that its approval will boost the acceptance of the digital currency.
The possibility of a Dogecoin ETF has been met with enthusiasm, as it would give institutional investors easier access to Dogecoin. Many in the crypto community view this as a key factor in Dogecoin’s potential to break through its previous all-time high.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cardano founder Charles Hoskinson has hinted at a potential collaboration with Ripple, sparking excitement across the crypto community.
In a recent post on X (formerly Twitter), Hoskinson praised Ripple CEO Brad Garlinghouse, calling him a “great CEO” and describing their interaction as “extremely collaborative.” This public exchange has fueled speculation that Cardano and Ripple might explore a strategic partnership.
Will Cardano Founder Partner With Ripple CEO?
Cardano founder Charles Hoskinson’s recent comments align with growing calls for collaboration in the cryptocurrency industry.
In his post, Ripple CEO Brad Garlinghouse echoed this sentiment, urging the crypto community to “come together” to advocate for a “level playing field” and regulatory clarity. He emphasized the need for clear “rules of the road” to foster a fair environment for all crypto assets and companies. “A rising tide lifts all boats,” Garlinghouse wrote, suggesting that a unified crypto industry could benefit the entire ecosystem.
This message of unity comes at a time when regulatory pressures and market challenges continue to affect the crypto sector. Ripple, in particular, has been embroiled in a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), a case that many believe could set an important precedent for the industry. With Hoskinson’s endorsement and Garlinghouse’s call for collaboration, the potential Ripple-Cardano partnership might aim to strengthen both companies’ positions in the market and support regulatory reform efforts.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Robinhood CEO Vlad Tenev gave his opinion on the recent Bitcoin price rally to as high as $90,000 and how US President-elect Donald Trump has contributed to this development. Tenev also suggested that the crypto industry in the US could begin to thrive now with Trump as the next president.
Robinhood CEO Comments On Bitcoin Rally And Trump’s Impact
During a CNBC interview, Vlad Tenev mentioned that the Bitcoin rally is simply what many have referred to as the ‘Trump Pump.’ He opined that the market is reacting to the widespread optimism that the Donald Trump administration will take a more positive approach to the crypto industry since the US President-elect has promised to embrace cryptocurrencies and make the US the center of crypto innovation.
The BTC price has risen over 24% in the last seven days, and Donald Trump has undoubtedly contributed to this rally, given that he took a pro-crypto stance right from the beginning of his campaign. The Robinhood CEO further explained how Donald Trump’s pro-crypto stance could matter.
He cited the US Securities and Exchange Commission’s (SEC) regulation-by-enforcement approach over the last four years and how that could change under Trump. Vlad Tenev noted how this stifled crypto innovation in the US and forced several crypto firms offshore.
He remarked that the idea is that the US SEC’s regulation-by-enforcement approach will stop under the Donald Trump administration and that there will be legislation that provides regulatory clarity. The Robinhood CEO remarked that this innovation could come through since the Republicans control the executive and legislative branches.
Potential Game-Changing Changes Under Donald Trump
The Robinhood CEO mentioned asset tokenization could become more feasible in the US under Donald Trump. He hinted at the possibility of traditional finance (TradFi) being more integrated into the decentralized finance (DeFi) space under the next administration.
Tenev used his company, Robinhood, as a case study of why such a move could matter. According to him, they spend less managing their crypto business due to the cost-effectiveness of blockchain technology. He cited an instance of how TradFi could benefit from the 24/7 trading services that the blockchain provides.
Interestingly, Robinhood Chief Legal Officer (CLO) Dan Gallagher has emerged as one of the potential candidates to replace US SEC Chair Gary Gensler. Meanwhile, a Donald Trump administration will undoubtedly be a welcome development for the Robinhood CEO and his team, considering that the US SEC warned them earlier in the year about their crypto business.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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