Bitcoin Drops to $99K as Fed’s Hawkish Rate Outlook Sparks Sell-Off
Bitcoin's price declined below $99K after the Federal Reserve implemented a 25 basis point rate cut and Fed Chair Jerome Powell revised the 2025 inflation outlook upward to 2.5%.
This hawkish stance, influenced by anticipated policy changes from the incoming Trump administration, led to a broader sell-off in the cryptocurrency market.
USC Star Matai Tagoa’i Becomes First College Athlete to Accept Bitcoin NIL Deal
Strike has partnered with incoming USC linebacker Matai Tagoa’i to create a groundbreaking NIL deal where a portion of his earnings is paid in bitcoin. This makes him the first college athlete to accept cryptocurrency for endorsements.
“This is a game-changer for me,” said Tagoa’i. “By taking part of my NIL earnings in bitcoin, I’m setting myself up for long-term financial growth. I’m grateful to Strike, House of Victory, and 3Point0 Labs for helping me take this step. I’m proud to be part of this innovative collaboration that’s redefining the future of college athletics and finance and hope to set an example for other young athletes to think about their financial future.”
This collaboration aims to provide athletes with innovative financial tools and protection from inflation. The initiative marks a significant advancement in collegiate athletics.
Scammers Pose as Ledger, Crypto Users Tricked into Revealing Passwords
Scammers are impersonating Ledger by sending fake emails about a data breach to steal users’ seed phrases.
Ledger warns it will never request 24-word recovery phrases and urges users to protect their digital assets.
This scam is part of a rise in holiday phishing attacks as online transactions increase.
Ohio Joins Texas and Pennsylvania in Bold Move to Establish State Bitcoin Reserves
Ohio Representative Derek Merrin has introduced House Bill 703, the Ohio Bitcoin Reserve Act, seeking to create a state-managed bitcoin fund and grant the state treasurer the authority to invest public funds in the cryptocurrency.
Merrin stated that the initiative aims to protect Ohio’s finances from the declining value of the U.S. dollar and enhance the state’s financial portfolio by leveraging Bitcoin’s potential.
This legislation aligns Ohio with other states like Pennsylvania and Texas , where lawmakers are also proposing strategic Bitcoin reserves.
Crypto.com CEO Meets Trump to Influence Policy
Kris Marszalek, CEO of Crypto.com, met with President-elect Donald Trump at Mar-a-Lago this week.
A spokesperson for the company said they discussed potential appointments and the establishment of a Bitcoin reserve. This reflects the crypto industry's ongoing efforts to influence the incoming administration.
This meeting follows similar engagements by other crypto leaders, such as Coinbase’s CEO Brian Armstrong, as the new administration includes several crypto advocates in key positions.
Additionally, Crypto.com withdrew its lawsuit against the SEC in October, hoping to collaborate on developing a regulatory framework. This signaled a cooperative approach with the Trump administration to advance the digital assets sector.