• US presidential candidate Vivek Ramaswamy has become the second to accept Bitcoin donations for the upcoming 2024 elections.
• Cryptocurrency prices remain flat as the SEC shows no signs of compromise on its claim to be the industry’s lead regulator.
• Federal Reserve Chair Jerome Powell said stress in banking sector might allow central bank to ease back on rate hikes and curb hot inflation.
US Presidential Candidate Accepts Bitcoin Donations
Vivek Ramaswamy has become the second US presidential candidate to accept Bitcoin donations for the upcoming 2024 elections, following Robert F. Kennedy Jr.’s groundbreaking move two days prior. This is a major step forward in cryptocurrency adoption and recognition by government entities.
Crypto Prices Remain Flat
The prices of Bitcoin and Ethereum have remained relatively stagnant over the past three weeks due to lack of movement from the U.S Securities and Exchange Commission (SEC). The SEC still holds its claim as industry leader when it comes to regulations and compliance standards around cryptocurrencies, causing a standstill in any further progress or development in this area.
Fed Looks To Curb Inflation
Bitcoin continued to hold below $27,000 as U.S Federal Reserve Chair Jerome Powell stated that stress in the banking sector may allow them to ease back on rate hikes with an aim of curbing hot inflation. Other major cryptocurrencies also fell slightly, including XRP which dropped 2.2%, Litecoin which fell 0.9%, and Ethereum which plummeted 1%.
Today’s Economic Calendar
Today’s economic calendar includes three important events: US 3-Month Bill Auction at 15:30 GMT, US 6-Month Bill Auction at 15:30 GMT, and Eurozone Consumer Confidence at 14:00 GMT. Treasury bills are short-term securities maturing in one year or less with yields representing returns investors will receive by holding bonds until maturity date. The auctions set average yield rates on bills auctioned by US Department of Treasury as well as other related information about these investments instruments such as liquidity levels, market trends etcetera .
This news reaffirms Bitcoin’s presence within mainstream politics and finance while also demonstrating how big players like central banks are reacting accordingly in order to maintain stability amidst economic turmoil caused by rising inflation numbers seen throughout 2021 so far .