ZKsync founder announces ZK token update proposal: to use all network revenue to buy back and burn ZK tokens.

The post Crypto Shows Mixed Reaction To Rate Cuts and Powell’s Speech appeared on BitcoinEthereumNews.com. Jerome Powell gave a speech justifying the Fed’s decision to push one rate cut today. Even though a cut took place as predicted, most leading cryptoassets began falling after a momentary price boost. Additionally, Powell directly addressed President Trump’s attempts to influence Fed policy, claiming that it didn’t impact today’s decisions. In previous speeches, he skirted around this elephant in the room. Sponsored Sponsored Powell’s FOMC Speech The FOMC just announced its decision to cut US interest rates, a highly-telegraphed move with substantial market implications. Jerome Powell, Chair of the Federal Reserve, gave a speech to help explain this moderate decision. In his speech, Powell discussed several negative economic factors in the US right now, including dour Jobs Reports and inflation concerns. These contribute to a degree of fiscal uncertainty which led Powell to stick with his conservative instincts, leaving tools available for future action. “At today’s meeting, the Committee decided to lower the target range…by a quarter percentage point… and to continue reducing the size of our balance sheet. Changes to government policies continue to evolve, and their impacts on the economy remain uncertain,” he claimed. Crypto’s Muted Response The Fed is in a delicate position, balancing the concerns of inflation and employment. This conservative approach may help explain why crypto markets did not react much to Powell’s speech: Bitcoin (BTC) Price Performance. Source: CoinGecko Sponsored Sponsored Bitcoin, alongside the other leading cryptoassets, exhibited similar movements during the rate cuts and Powell’s speech. Although there were brief price spikes immediately after the announcement, subsequent drops ate these gains. BTC, ETH, XRP, DOGE, ADA, and more all fell more than 1% since the Fed’s announcement. Breaking with Precedent However, Powell’s speech did differ from his previous statements in one key respect: he directly addressed claims that President Trump is attacking…

The post Crypto Scam Bribery Scheme Busted by Elon Musk’s X Platform appeared on BitcoinEthereumNews.com. Large-scale operation   X’s crypto scam problem   X, Elon Musk’s social media platform that was formerly known as Twitter, has uncovered a bribery network that was operating against it. Some of the suspended accounts tied to cryptocurrency scams attempted to get reinstalled by attempting to bribe the social network’s employees.  Large-scale operation   While the warning was specifically issued by X, it is worth noting that the malicious actors were also targeting other social media platforms like Instagram, YouTube, and TikTok.  The attackers have been linked to larger criminal organizations, including “the Com,” which is a notorious cybercrime group.  You Might Also Like X says that it has already initiated legal proceedings against those who took part in the sham.  “Our commitment to ensuring our platform’s integrity is absolute,” X’s Global Government Affairs team said.  X’s crypto scam problem   X (formerly Twitter) is no stranger to security incidents involving cryptocurrencies.  Back in July 2020, the popular social media sites suffered the so-called “Celebrity Bitcoin Hack.” Various high-profile individuals, including Musk himself, Bill Gates, and so on.  The hacker managed to gain control of employee access controls with the help of clever social engineering.  Of course, the platform also continues to be plagued by bots impersonating prominent personalities such as Ripple CEO Brad Garlinghouse.  Following the latest incident, X has stated that the team’s commitment to ensuring the platform’s integrity remains “absolute.” That said, some users have complained that Elon Musk’s social media platform is not doing enough to combat rampant bot networks.  Source: https://u.today/crypto-scam-bribery-scheme-busted-by-elon-musks-x-platform

CME Group, or the Chicago Mercantile Exchange, saw a significant jump in cryptocurrency futures trading volume in October.