The week started off with a lot of activity in the crypto world. From market surges to political tensions, the crypto situation was far from boring. Here is a quick rundown of the top stories that made headlines.
Bitcoin, Ethereum, and Dogecoin witness “golden cross formation” – Cryptocurrency markets rose on Friday following a tip from Federal Reserve Chairman Chai.r Jerome Powell aRegarding the potential shift towards lower interest rates. Read the full article here.
Ron Conway cuts ties with pro-cryptocurrency PAC – Prominent Democratic donor Ron Conway announced his decision to cut ties with the influential cryptocurrency super PAC Coalition. The move comes after the PAC donated $12 million to Sen. Sherrod Brown (D-Ohio), and Conway claims he was not informed of the decision beforehand. Read the full article here.
Also read: Bitcoin, Ethereum, Dogecoin Head into Weekend with 'Golden Cross Formation,' Trader Says 'Cycle May Surpass 2016-2017 Cycle'
Senator Cynthia Lummis questions Kamala Harris' support for cryptocurrency Senator Cynthia Lummis (R-Wyo.), a known advocate for cryptocurrencies and Bitcoin, argued that there is nothing to indicate that Democratic presidential candidate Kamala Harris supports the industry. Lummis contrasted the Democratic Party's position with the Republican Party platform, which has pledged to protect and promote cryptocurrency activity in the country. Read the full article here.
Crypto industry to invest $119 million in 2024 elections – The crypto industry has reportedly poured a staggering $119 million into the 2024 presidential election as part of a concerted effort to boost industry-friendly candidates. Big companies, primarily Coinbase and Ripple, are putting most of these funds almost exclusively into super political action committees (PACs) dedicated to promoting pro-crypto candidates. Read the full article here.
Anthony Scaramucci predicts Bitcoin will hit $100,000 Anthony Scaramucci, CEO of investment firm SkyBridge Capital, expressed optimism about Bitcoin's progress this year, expecting the leading cryptocurrency to hit $100,000. Scaramucci reflected on how “catastrophic” Bitcoin was in the fall of 2022 and how regulators' approval of an ETF earlier this year helped boost demand and sentiment. Read the full article here.
Read next: Amid tight Trump-Harris battle, crypto industry pumps 'unprecedented' $119 million into 2024 elections — here are the biggest donors
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This story was produced by Benzinga Neuro and edited by Anan Ashraf.
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