White House adviser: Cryptocurrency bill is "very close" to passage

The world's most valuable chip company is betting big on its struggling rival, creating an alliance that follows the Trump administration's own Intel bailout

The post Fed forecasts only one rate cut in 2026, a more conservative outlook than expected appeared on BitcoinEthereumNews.com. Federal Reserve Chairman Jerome Powell talks to reporters following the regular Federal Open Market Committee meetings at the Fed on July 30, 2025 in Washington, DC. Chip Somodevilla | Getty Images The Federal Reserve is projecting only one rate cut in 2026, fewer than expected, according to its median projection. The central bank’s so-called dot plot, which shows 19 individual members’ expectations anonymously, indicated a median estimate of 3.4% for the federal funds rate at the end of 2026. That compares to a median estimate of 3.6% for the end of this year following two expected cuts on top of Wednesday’s reduction. A single quarter-point reduction next year is significantly more conservative than current market pricing. Traders are currently pricing in at two to three more rate cuts next year, according to the CME Group’s FedWatch tool, updated shortly after the decision. The gauge uses prices on 30-day fed funds futures contracts to determine market-implied odds for rate moves. Here are the Fed’s latest targets from 19 FOMC members, both voters and nonvoters: Zoom In IconArrows pointing outwards The forecasts, however, showed a large difference of opinion with two voting members seeing as many as four cuts. Three officials penciled in three rate reductions next year. “Next year’s dot plot is a mosaic of different perspectives and is an accurate reflection of a confusing economic outlook, muddied by labor supply shifts, data measurement concerns, and government policy upheaval and uncertainty,” said Seema Shah, chief global strategist at Principal Asset Management. The central bank has two policy meetings left for the year, one in October and one in December. Economic projections from the Fed saw slightly faster economic growth in 2026 than was projected in June, while the outlook for inflation was updated modestly higher for next year. There’s a lot of uncertainty…

The post There Are Now More Crypto Millionaires and Billionaires Than Ever Before Amid Bitcoin Boom appeared on BitcoinEthereumNews.com. In brief The number of crypto millionaires, centi-millionaires, and billionaires are all up in the last year as asset prices have risen. Bitcoin’s rise played a big role, with Bitcoin millionaires jumping 70% as the asset made a new all-time high above $124,000. The count of Bitcoin centi-millionaires and billionaires also rose at least 55% in the last year. The total number of crypto millionaires and billionaires has grown by 40% and 29% respectively over the course of the last year, according to the Crypto Wealth Report published by investment consultants Henley & Partners.  Based on data ending on June 30, the report indicates there are approximately 241,700 crypto millionaires and 36 crypto billionaires globally, setting new records for crypto wealth. “This significant growth coincides with a watershed year for institutional adoption, highlighted by the first-ever cryptocurrencies launched by a sitting U.S. president and first lady,” the report reads.  Bitcoin’s sharp rise played the biggest role in creating new wealth, with Bitcoin millionaires alone jumping 70% in the last 12 months to 145,100. The count of new Bitcoin centi-millonaires, or those with at least $100 million, and Bitcoin billionaires have also jumped 63% and 55%, respectively.  The largest cryptocurrency by market cap has seen its price rise 78% in the last year, now changing hands at $112,881—or more than 5% higher than it was on June 30, the final day of data collection for the newly published report. Bitcoin has continued to rise to new peaks over the course of 2025 so far after hitting the $100,000 price mark for the first time ever in December. The current BTC record price stands at $124,128 as set in August, according to CoinGecko. Some of that rise should be attributed to the increasing acceptance of cryptocurrency’s role in the future of…