CMC Market Pulse | Weekend
Highlight of the Week
Michael Saylor’s Strategy acquires 525 BTC for a total of $60.2M, bringing their total holding to 638,985 BTC.
Solana treasury company, Forward Industries, announces a $4B ATM offering to facilitate the acquisition of more SOL.
The SEC approves generic listing standards, paving the way for the next wave of crypto ETFs.
Narrative of the Week
The #FedRateCut25bps cuts rates by 25 bps, with projections indicating another 50 bps in cuts likely for 2025.
Analysts highlight the historical track record of rate cuts when the S&P 500 is within 2% of highs, predicting a rally into the next 12 months.
Major Project Updates
#coinbase L2, Base, announces plans to explore a token for the network, although no definitive plans have been released yet.
#MetaMask founder and CEO, Joseph Lubin, hints that a MetaMask token is coming “sooner than you would expect”.
#Tether announces USAT, a US-regulated stablecoin, with Bo Hines, the former Executive Director of the President's Council of Advisers on Digital Assets, as their CEO.
The Ethereum Foundation unveils their decentralized AI (dAI) team, designed to focus on developing the AI economy and AI stack on Ethereum.
PayPal rolls out PayPal Links, a peer-to-peer payment system integrating Bitcoin, Ethereum and #PYUSD .
Tether-backed stablecoin L1, Plasma, announces their upcoming TGE for 25 September.