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Kevin O’Leary expects Congress to revisit the Clarity crypto market structure bill early next year as lawmakers advance legislation to establish tax rules for digital assets, CoinDesk reports.
Bitcoin remained relatively steady after the Federal Reserve’s first rate increase since 2023 had little effect on crypto prices. Attention now turns to the central bank’s next decision and its potential impact on Wall Street and digital assets.
The Fed has kept its reserve-plumbing authority, but its current schedule shows no net reserve-management purchases, according to CryptoSlate. The update offers no confirmed signal or forecast for Bitcoin’s next rally.
Bitcoin’s Monday rebound was erased as spot and perpetual selling intensified, CryptoSlate reported. Large futures positioning remained in place, potentially magnifying the next market move ahead of the Federal Reserve.
Hong Kong-founded crypto exchange CoinEx is shutting down after nine years. The platform cited a prolonged crypto winter and rising compliance costs, while users have until December to cash out their holdings.
Crypto trading rebounded in August, but activity remained concentrated at the largest exchanges as CoinEx announced its exit after nine years, CryptoSlate reported.
CoinEx plans to end operations after nine years, citing falling trading volumes, reduced liquidity and rising regulatory and compliance costs. Withdrawals will remain open until Dec. 22, according to Cointelegraph.
Goldman Sachs has dropped its forecast that the Federal Reserve will hold rates next week, becoming the last major bank to do so. CoinDesk frames the debate as increasingly focused on Wall Street rather than inflation.
Circle’s $400 million Tazapay deal is aimed at expanding USDC in emerging markets, where Tether has long been strong. The transaction provides market links and relationships that could otherwise take years to establish.
Republicans released a revised Clarity Act draft ahead of the Senate’s return next week. The bill needs 60 votes, while changes to DeFi and credit union provisions leave its legislative outlook uncertain.
Coinbase CEO Brian Armstrong says Bitcoin reaching $400,000 by 2030 remains a reasonable target. He also believes the market bottom is in after about a year of downturn, with the next halving roughly 18 months away.
