Ethereum

Thomas

President Trump

BlackRock

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The crypto market responded positively to the first Fed rate cut in four years, with Bitcoin and Ethereum seeing gains.</li>
 <li>Former US President Trump made a transaction using Bitcoin, and Wisdom Tree launched an RWA tokenization platform on Ethereum.</li>
</ul>
<p>The crypto market experienced a positive reaction following the first Fed rate cut in four years.</p>
<p>On September 18, the U.S. Fed reduced interest rates by 0.50% (50 basis points), a move that surprised many economists who had anticipated a 25 bps cut.</p>
<h2 id="bitcoin-and-ethereum-gain">Bitcoin and Ethereum Gain</h2>
<p>After the Fed’s decision, <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> saw a 2.3% increase during the intraday trading session on Wednesday. The following day, during the early Asian hours, BTC’s value rose to $62.5K.</p>
<p>At the time this article was written, BTC was worth $62.1K, with significant gains observed across the sector. <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> had risen by 5% in the past 24 hours.</p>
<p>However, experts have expressed caution, suggesting that the Fed’s significant cut may indicate a slowing economy that could unsettle risk assets in the short term.</p>
<h2 id="trump-s-bitcoin-transaction">Trump’s Bitcoin Transaction</h2>
<p>On September 18, Donald Trump, the former US president, visited the well-known New York PubKey bar and made a payment using BTC.</p>
<p>He purchased food and drinks for his supporters and paid the bill in BTC. PubKey owner Thomas Pacchia referred to the event as “history.”</p>
<p>Trump, who has become a supporter of BTC, has even announced plans to make it a strategic reserve asset if he is re-elected as president.</p>
<h2 id="wisdom-tree-s-ethereum-platform">Wisdom Tree’s Ethereum Platform</h2>
<p>Wisdom Tree, an asset manager with $110 billion of assets under management, has introduced an RWA (real-world asset) tokenization platform that operates on <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>.</p>
<p>The product, named Wisdom Tree Connect, will facilitate integration between TradFi and DeFi, according to the company.</p>
<p>Wisdom Tree will join other asset managers such as BlackRock and Franklin Templeton, which offer similar products designed to provide yield-bearing products for crypto firms seeking exposure to US treasury bonds as a reserve.</p>

Today’s Crypto Recap: Fed Rate Cuts, Trump, and Bitcoin’s Upward Stride

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CoinEagle.com

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