#interest

On November 7, the Fed announced a 25 basis point cut in the interest rate, bringing it to a range of 4.5-4.75%, aligning with market expectations. This move marks the second consecutive reduction in 2024 following a period of sustained high rates.

FalconX is accelerating its efforts to expand through acquisitions. The company plans to focus on acquiring top-tier, smaller companies, with a primary interest in tokenization, institutional infrastructure, and data analytics.

The U.S. Federal Trade Commission (FTC) criticized several social media companies, including Meta, Google, and ByteDance, for collecting and processing user data without sufficient oversight or transparency. The collected data often includes age, gender, language, income, and other information of interest to advertisers.

The chance that the U.S. Federal Reserve will cut interest rates by 50 basis points in September surged to 47%, according to CME Group data at the time of publication.

Bernstein analysts report a growing investor interest in Bitcoin mining companies that are shifting their focus to the artificial intelligence (AI) and high-performance computing (HPC) sectors.

Xapo Bank, a crypto-focused financial institution, received a license in the UK and officially launched interest-bearing accounts in USD and BTC. The Bitcoin account offers an annual interest rate of 1% paid directly in BTC, without the need to lock funds or lend to other users.

TSMC's U.S. operations are set to receive a $6.6 billion grant for constructing facilities in Arizona, along with an additional $5 billion in low-interest government loans. The company aims to launch the production of 2-nanometer technology chips by 2028.

Google Trends data shows that searches for "Bitcoin" have dropped to a 12-month low, scoring just 27 out of 100. The search interest peaked (100 points) in March 2024.

On September 18, the U.S. Federal Reserve announced a 50 bps reduction in its benchmark interest rate, bringing it down to 5%.

Japanese company Agile Energy X started using surplus renewable energy for Bitcoin mining. According to company president Kenji Tateiwa, this initiative will help balance supply and demand in the energy grid while boosting the popularity of green energy sources.

The Colorado House of Prayer has issued tokens to fund the purchase of a 19th-century stone church building, valued at $2.5 million, which their congregation has rented since 2022. This fundraising initiative is spearheaded by Pastor Blake Bush, known for his keen interest in cryptocurrencies, including investments in Ripple (XRP).

Pavel Durov, creator of Telegram, has been actively learning Ukrainian, a language closely connected to his maternal Ukrainian roots. He discussed this revelation with his audience following a survey that showed strong interest in Ukrainian as the next topic from the esteemed entrepreneur and coder.

Kyle Davies, the co-founder of the now-bankrupt crypto fund Three Arrows Capital (3AC), tried convincing LayerZero's leadership to hand over their entire treasury to the fund just days before declaring bankruptcy. LayerZero Labs CEO Bryan Pellegrino revealed Davies offered enticingly high-interest rates for the deal.