Bitcoin erases all its 2025 gains and dangerously approaches the CME gap

The post Trump and WLFI Debate Escalates! US Democrats Make New Move to Anger Trump! appeared on BitcoinEthereumNews.com. As the US tries to recover from the effects of the government shutdown, a new move has been made from the Democratic wing against President Donald Trump. US Senators Elizabeth Warren and Jack Reed have requested an investigation into World Liberty Financial (WLFI), a cryptocurrency project linked to President Donald Trump’s family, according to CNBC. Senators Warren and Reed, known for their anti-cryptocurrency stance, demanded an investigation into World Liberty Financial over alleged illicit funding connections. Accordingly, Warren and Reed, in a letter to the Department of Justice and the Treasury, expressed their concerns that WLFI may have ties to illicit actors in North Korea and Russia. In their letter, the senators highlighted reports that WLFI sold its tokens to entities linked to North Korean hacking groups, Russian sanctions-violating platforms, and cryptocurrency exchange Tornado Cash. The senators cited a report published in September by a non-governmental organization called Accountable.US, which alleged that the company sold 600,000 WLFI tokens worth $10,000 to suspicious entities linked to North Korea, Iran, and Tornado Cash, a money laundering service. Senators stated that World Liberty Financial’s AML (anti-money laundering), KYC (know your customer) and sanctions controls were inadequate, and that this situation could pose a risk to national security. Senators also criticized the company’s website for listing Donald Trump’s three sons – Eric Trump, Donald Trump Jr. and Barron Trump – as founders. As you may recall, Elizabeth Warren had previously stated that there was a conflict of interest in World Liberty Financial. Now, the two senators stated in the letter that 75% of the revenue from token sales also went to the Trump family, and criticized that “3/4 of the revenue from WLFI sales goes to the Trump family.” WLFI has not yet commented on the matter. *This is not investment advice. Follow our…

What are the possible scenarios if the Bitcoin (BTC) price continues to decline? Experts have listed the possibilities. Continue Reading: What Are the Biggest Bear Scenarios for the Bitcoin (BTC) Price? Experts Listed Them

The post December Fed Rate-Cut Odds Rise Above 50% on Weak Jobs Reports appeared on BitcoinEthereumNews.com. The odds of a December Fed rate cut are back above 50% following the release of two significant jobs reports today, which show that the labor market is still weakening. UBS economists also predict the Fed will lower rates at next month’s FOMC meeting, which is a positive for Bitcoin and the broader crypto market. December Fed Rate Cut Odds Now Back Above 50% CME FedWatch data show that the odds of a 25 basis points (bps) rate cut at the December FOMC meeting are now back over 50%. Meanwhile, the odds of interest rates remaining unchanged have dropped to 49.6%. Source: CME FedWatch CoinGape reported last week that the odds of a 25 bps Fed rate cut had fallen to as low as 44%, as Fed officials raised concerns about rising inflation. Fed President Jeff Schmid warned that further cuts would have a lasting impact on inflation and would do little to help the weakening labor market. However, the release of the weekly jobless claims and ADP job report has raised optimism of another cut at the December FOMC meeting. Department of Labor data shows that U.S. jobless claims rose to 232,000 in the week that ended October 18, above the expected 223,000. Furthermore, an ADP report revealed that private employers shed an average of 2,500 jobs a week throughout October, signaling a slowdown in job growth. With the weak labor market persisting, this could influence the FOMC to make another Fed rate cut next month. UBS economists also predict that the Fed will lower rates next month. They stated that, despite mixed views among Fed officials, the incoming data won’t be enough to halt the growing support for a third rate cut this year. The economists further noted that soft hiring and rising layoffs highlight continued economic weaknesses. Meanwhile, UBS…