FTX to Dispense $1.6 Billion in Bankruptcy Repayments This Month

The post Bitcoin Steady as Fed Delivers First Rate Cut in 9 Months appeared on BitcoinEthereumNews.com. The Federal Reserve announced today a cut in interest rates by 25 basis points, citing unsteady labor market conditions and increased inflation.  For the typical American, these rate cuts mean lower borrowing costs and may be a positive catalyst for the crypto market. However, the decision also carries intensified inflation risks and increased concerns over the Fed’s independence. Fed Cuts Rates for the First Time in 9 Months Bitcoin’s price held steady immediately after the US Federal Reserve cut interest rates by 25 basis points on Wednesday. Sponsored Sponsored The Federal Open Market Committee (FOMC) did what many economists and traders predicted: It cut the benchmark federal funds rate to a lower range of between 4.00% and 4.25%. This is the first rate cut in nine months, and follows a 25 basis-point cut in December 2024. 93% of Polymarket voters predicted a rate cut of 25 bps during today’s FOMC meeting. Source: Polymarket. “In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4-1/4 percent,” the Federal Reserve said in a statement. “Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated.” Regarding the possibility of further rate cuts, it said: “In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.” The decision’s impact on Bitcoin may also positively affect the rest of the crypto market in the coming days.  A Positive Catalyst for Crypto? The crypto market was cautiously optimistic before the Fed…

PANews reported on October 13th that Shentu Chain announced the official launch of OpenMath, the world's first DeSci platform focused on mathematics. The platform was developed in a strategic partnership between Shentu Chain and CertiK, the world's largest Web3 security company and a leader in formal verification. OpenMath is committed to building a DeSci ecosystem centered around verifiable mathematical truth. Researchers and verifiers can collaborate to propose and solve mathematical problems, and then verify their logic using Rocq-based formal verification technology, ensuring rigorous and accurate reasoning with mathematical precision. Participants who successfully complete verification will receive token rewards, effectively integrating transparency in the research process with an effective incentive mechanism. OpenMath is deployed on the Shentu Chain, formerly the CertiK Chain, which was incubated by Yale University professors Zhong Shao and Ronghui Gu. In August 2021, Shentu officially separated from CertiK and operates independently. The launch of OpenMath is a joint exploration of the application of blockchain and formal verification in mathematical scenarios, based on a new partnership between the two parties.

Top crypto presale to join are back in the spotlight as Bitcoin and Monero both flash strength heading into October’s […] The post Bitcoin and Monero Rise as MoonBull ($MOBU) Becomes the Top Crypto Presale to Join appeared first on Coindoo.