Trump, Biden Fight For Crypto Votes & Australia’s Top Exchange Gets Bitcoin ETF

Matt breaks down why cryptocurrency prices slid after the U.S. central bank’s big update. He also covers how Donald Trump and Joe Biden are warming to crypto; MicroStrategy’s latest capital raise; Bitcoin ETFs in Australia; and altcoin updates.

Key Takeaways 

• Cryptocurrency prices after the U.S. Federal Reserve said it now anticipates just one rate cut in 2024, down from the three cuts estimated in March.
• Presidential candidates Donald Trump and Joe Biden continue to up their engagement with the crypto industry, a promising development given both have historically opposed crypto. However, time will tell whether it lead to any favourable outcomes after November’s election.
• Australia’s largest stock exchange, the ASX, approved its first spot Bitcoin ETF. This milestone should bring greater credibility to Bitcoin and crypto more broadly.
• Among the altcoin updates covered: Lido’s involvement with Symbiotic and Mellow Finance, and Polygon and Arbitrum announce well-funded growth initiatives.