Cryptocurrency Security Under Siege: A New Episode in Garden Finance’s Hack

The post Crypto Shows Mixed Reaction To Rate Cuts and Powell’s Speech appeared on BitcoinEthereumNews.com. Jerome Powell gave a speech justifying the Fed’s decision to push one rate cut today. Even though a cut took place as predicted, most leading cryptoassets began falling after a momentary price boost. Additionally, Powell directly addressed President Trump’s attempts to influence Fed policy, claiming that it didn’t impact today’s decisions. In previous speeches, he skirted around this elephant in the room. Sponsored Sponsored Powell’s FOMC Speech The FOMC just announced its decision to cut US interest rates, a highly-telegraphed move with substantial market implications. Jerome Powell, Chair of the Federal Reserve, gave a speech to help explain this moderate decision. In his speech, Powell discussed several negative economic factors in the US right now, including dour Jobs Reports and inflation concerns. These contribute to a degree of fiscal uncertainty which led Powell to stick with his conservative instincts, leaving tools available for future action. “At today’s meeting, the Committee decided to lower the target range…by a quarter percentage point… and to continue reducing the size of our balance sheet. Changes to government policies continue to evolve, and their impacts on the economy remain uncertain,” he claimed. Crypto’s Muted Response The Fed is in a delicate position, balancing the concerns of inflation and employment. This conservative approach may help explain why crypto markets did not react much to Powell’s speech: Bitcoin (BTC) Price Performance. Source: CoinGecko Sponsored Sponsored Bitcoin, alongside the other leading cryptoassets, exhibited similar movements during the rate cuts and Powell’s speech. Although there were brief price spikes immediately after the announcement, subsequent drops ate these gains. BTC, ETH, XRP, DOGE, ADA, and more all fell more than 1% since the Fed’s announcement. Breaking with Precedent However, Powell’s speech did differ from his previous statements in one key respect: he directly addressed claims that President Trump is attacking…

TLDR Nvidia announced a $683 million investment in Nscale, a UK AI infrastructure company that spun off from crypto miner Arkon Energy in May 2024 The partnership aims to scale the UK’s AI capacity to 60,000 GPUs by 2026 as part of the government’s national AI infrastructure push Nscale is part of the “neocloud” industry [...] The post Nvidia Partners with Former Crypto Miner Nscale for UK AI Infrastructure Project appeared first on CoinCentral.

PANews reported on September 18 that according to Cointelegraph, South Korean crypto asset custody service provider BDACS launched the first stablecoin backed by the Korean won, KRW1, on the Avalanche blockchain after successfully passing the proof of concept. The stablecoin is fully collateralized by the Korean won deposited in Woori Bank.