The European Central Bank cuts interest rates by 25 basis points to 2.5%, suggesting that the pace of easing may be nearing its end.
The European Central Bank lowers the deposit facility rate by 25 basis points to 2.5%, marking the sixth rate cut since last June. The statement mentioned that monetary policy is becoming 'significantly less restrictive,' implying that the rate-cutting cycle may be close to its end.
Bullish Index: ★★★☆☆
The rate cut will help increase market liquidity and may have a positive impact on risk assets, including cryptocurrencies.
Singapore officials warn the public to stay away from cryptocurrencies.
Singapore's Minister of State for Home Affairs Sun Xueliang stated that cryptocurrencies accounted for one-quarter of the total losses from scams last year. She advised the public to stay away from cryptocurrencies, emphasizing that the risk of being 'burned' is very high, and the chance of recovering any money if one becomes a victim of a scam is very slim.
Bearish Index: ★★★☆☆
Warnings from government officials may lead to a decline in investor confidence in the cryptocurrency market, negatively impacting market sentiment in the short term.
The United States begins to release some of the seized Chinese-manufactured crypto mining machines, but a large amount of equipment remains unreleased.
Recently, the United States started releasing some of the previously seized Chinese-manufactured cryptocurrency mining machines, with thousands of devices released, but a majority remain unreleased.
Bullish Index: ★★☆☆☆
The release of mining machines may increase the hash power of cryptocurrencies like Bitcoin, but has limited impact on market prices.
The Russian Ministry of Finance states it will not include crypto assets in the national welfare fund's investment structure.
Russian Deputy Finance Minister Vladimir Kolychev stated that the Ministry of Finance does not plan to add crypto assets to the national welfare fund due to their high volatility. Currently, the maximum share of the fund's structured assets can be up to 60% in RMB and up to 40% in gold.
Bearish Index: ★★☆☆☆
The Russian government maintains a cautious attitude towards crypto assets, which may limit their mainstream acceptance in the country.
Tether freezes $27 million USDT on Garantex exchange, platform suspends operations.
Stablecoin issuer Tether has frozen over 2.5 billion rubles (approximately $27 million) in USDT wallets on the Russian crypto exchange Garantex, leading to Garantex suspending all trading and withdrawal services, with the website entering maintenance mode. Tether has not yet responded to this freezing incident.
Bearish Index: ★★★★☆
This incident may exacerbate market concerns regarding the compliance of cryptocurrency exchanges, especially in cases involving sanctions and regulations, which could negatively impact the secondary blockchain market.