FameEX Morning Crypto News Recap | May 9, 2025
2025-05-09 02:51:45Trump Unveils UK Trade Pact While Bitcoin Tops $100,000
Trump's first trade deal with the UK since imposing tariffs signals easing tensions. The announcement sparked renewed market optimism, pushing Bitcoin above $100,000 amid growing investor confidence in global economic stability.
U.S. Senate Blocks GENIUS Act Amid Concerns on Money Laundering and National Security
The U.S. Senate did not move forward with the GENIUS Act after some Democratic senators withdrew their backing. The shift stemmed from concerns about anti-money laundering and national security measures added to the latest version, resulting in the bill’s procedural failure during Thursday’s vote.
SEC Commissioner Criticizes Flawed Bitcoin ETF Approval Process
SEC Commissioner Hester Peirce called the spot Bitcoin ETF approval process “severely mismanaged,” criticizing the agency for offering poor explanations behind its changing regulatory position.
Bank of Canada Governor Voices Support for Fed Chair Powell’s Independence
Bank of Canada Governor Macklem affirmed support for Fed Chair Powell’s independence, calling central bank autonomy “sacrosanct.” He emphasized that independent monetary policy delivers crucial benefits to Canadians and the broader global economy through objective and effective economic governance.
PIMCO Expects Federal Reserve to Start Cutting Interest Rates in September
Tiffany Wilding of PIMCO noted that the Federal Reserve is monitoring key economic indicators as inflation and unemployment concerns grow. She anticipates that rate cuts could start in September, driven by rising unemployment and steady long-term inflation expectations, with further reductions likely continuing into next year.
Real Vision Founder Predicts Bitcoin Dominance Top, Signals Incoming Altcoin Season
Raoul Pal, Real Vision founder and ex-Goldman Sachs executive, stated that Bitcoin dominance has likely peaked, citing daily, weekly, and monthly DeMark top signals. He noted each cycle's peak is lower, suggesting a shift toward altcoins and signaling the potential start of a new altcoin season.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.