J Pow Says No To Rate Cuts

The world order shifting, trade wars are pending, inflation is still rising, and smart investors are turning to gold. Protect your wealth before it’s too late.

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Crypto asset manager Grayscale has officially filed for the first Cardano (ADA) ETF with the NYSE. ADA is the ninth largest cryptocurrency with a market cap of over $25 billion. Announcement of the filing caused ADA to surge 15%.

Proton, the company behind the world’s largest encrypted email service, Proton Mail, has rolled out its self-custodial Bitcoin wallet to its 100 million users. Proton Wallet will allow users to buy, store, and transfer bitcoin, incorporating features like sending bitcoin via email. Proton is no newcomer to bitcoin, having taken it as payment since 2014 as well as holding the asset as part of its treasury.

Tokyo-listed mobile game studio Gumi plans to drop 1 billion yen (~$6.58M) on BTC by May, looking to boost its blockchain pursuits and strengthen its “node operation business.” According to the statement, Gumi will also became the first listed company in Japan to participate in bitcoin staking protocol Babylon, where the company expects to earn secondary revenue from staking its surplus bitcoin funds.

In an odd brotherly moment, the SEC and Binance have jointly filed a motion to pause their ongoing legal battle for 60 days. The reason? Both sides anticipate a shift in regulation under the Trump administration. The motion cites that the establishment of the new crypto task force may “impact and facilitate the potential resolution of this case.” If the case is ultimately thrown out, there’s a high chance so will the ongoing cases against Ripple, Kraken, & Coinbase.

Fed Chair Jerome Powell told the Senate Banking Committee that it’s time to “take a fresh look” at the whole debanking situation that took place last term – insisting there’s no “intentional” crackdown. Otherwise, not much new from the J Pow testimony today. The Fed is on hold and no rush to cut was the message (unless they’re somehow forced to panic cut again!). All eyes will now be on the inflation data coming out tomorrow.

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