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Federal Reserve chairman Jerome Powell announced the first rate cut of the year with a 25bps reduction, bringing the federal funds rate between 4% and 4.25%: Markets are reportedly anticipating further cuts in both October and December in response to a slowing job market and moderate inflationary pressures. |
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PayPal will let US users send bitcoin, ether and other supported cryptos directly across PayPal and compatible wallets: The rollout will also introduce one-time send/request links for crypto transfers and exempts transfers from IRS 1099-K reporting, according to the company. |
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London Stock Exchange Group has launched a tokenization platform to help issuers create and settle tokenized private funds: Investment manager MembersCap has already used the service with further platform features yet to be announced.
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Ethereum’s total stablecoin supply reached an all-time high of $166 billion, up from just under $150 billion a month prior: The growth was largely led by the two leading stablecoins USDT and USDC, which have a combined $135.8 billion worth of tokens on the network. |
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Pump.fun generated $3.38 million in daily protocol revenue on Monday, overtaking Hyperliquid: The Solana memecoin launchpad has led a comeback partially fueled by a buyback program which purchases its native token, PUMP. |
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| IRAs can own bitcoin and other cryptocurrencies. Crypto IRAs offer many advantages, the foremost reason being that the gains made on selling crypto with an IRA are generally not taxable. And if you have a Roth IRA, the profits may come out entirely tax-free at retirement (age 59 ½). For traditional IRAs, the gains are tax-deferred, and owners are taxed as they draw funds out at retirement. These tax outcomes apply to Roth IRAs and Traditional IRAs when buying and selling stocks or mutual funds as well as crypto. |
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| This material is for informational purposes only and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Gemini. Gemini, its affiliates and its employees do not make any representation or warranty, expressed or implied, as to accuracy or completeness of the information or any other information transmitted or made available. Buying, selling, and trading cryptocurrency involves risks, including the risk of losing all of the invested amount. Recipients should consult their advisors before making any investment decision. Any use, review, retransmission, distribution, or reproduction of these materials, in whole or in part, is strictly prohibited in any form without the express written approval of Gemini. |
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