Slowing Inflation Data Brings Positive Price Action to Bitcoin
- The US CPI remained flat in May, beating forecasts and lifting bitcoin prices by nearly 4% on Wednesday: But bitcoin prices quickly retreated on Thursday as traders grappled with the possibility of just one rate cut by the Federal Reserve by the end of the year.
- Trump voices support for Bitcoin mining at Mar-a-Lago: President Biden’s campaign also consulted the crypto industry on his digital asset policy.
- Gensler confirms spot ether ETFs are coming soon: In a Senate Banking hearing on Thursday, SEC chairman Gary Gensler said he expects spot ether ETFs will begin trading this summer.
- GameStop's stock drops 12%, impacting related meme tokens: The dip comes after recent highs and announcements of new share sales and declining quarterly sales.
- HSBC Bank's China branch begins offering e-CNY services to corporate clients: It’s the first foreign bank to support the digital yuan to facilitate transactions and asset management.
- The ZKsync Association will airdrop 3.675 billion ZK tokens next week: Early users and contributors will receive the distributions, with claims available until January 2025.
🗝️ Topic of the Week: Crypto and Retirement Accounts: 401ks and IRAs
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