CoinDesk

Recent polling data indicates that President Joe Biden's likelihood of securing the Democratic nomination for the 2024 presidential election remains steady at 70%. Meanwhile, California Governor Gavin Newsom has seen a significant increase in his chances, now standing at 15%. This development suggests a potential shift in the Democratic primary landscape, with Newsom emerging as a more prominent contender.

A recent report highlights the need for a more robust regulatory framework for Ether and other digital assets. The report suggests that the narrative surrounding these assets is expected to improve as the United States approaches its election season later this year. This development underscores the growing importance of cryptocurrency regulation in the context of national politics and economic policy.

Expectations of lower U.S. interest rates were dashed once again, while a significant decline in the shares of the heavily speculated GameStop stock dampened sentiment in the cryptocurrency markets.

Recent economic data indicating softening inflation, coupled with interest rate cuts by the European Central Bank and the Bank of Canada this week, have led investors to reconsider their expectations regarding the Federal Reserve's monetary policy stance. Market participants are now speculating about the possibility of the Fed adopting a more dovish approach in response to these developments.

A bullish forecast has been released in anticipation of key U.S. economic data that could impact expectations for potential interest rate cuts by the Federal Reserve. The data, set to be unveiled soon, holds significant implications for the monetary policy outlook and market sentiment.

Core Scientific, a leading bitcoin mining company, has rejected an acquisition offer from CoreWeave. The board of directors believes that CoreWeave's proposed purchase price of $5.75 per share significantly undervalues the firm. Core Scientific is a prominent player in the bitcoin mining industry, and the board's decision suggests that they believe the company's long-term prospects justify a higher valuation.

Vitalik Buterin, the co-founder of Ethereum, addressed the recent decision by his firm to file a lawsuit against the U.S. Securities and Exchange Commission (SEC) during his keynote speech at the Consensus 2024 conference. Buterin provided insights into the rationale behind this legal action, which has garnered significant attention within the cryptocurrency and regulatory spheres.

The United States Supreme Court has ruled against Coinbase Inc. in a case concerning which legal agreement should take precedence when parties are bound by two separate contracts, one of which mandates arbitration. The Court determined that Coinbase's argument was not persuasive in this matter.

The White House issued a statement on Wednesday expressing opposition to the Financial Innovation and Technology for the 21st Century Act. However, the administration did not explicitly threaten to veto the legislation. The statement outlined the administration's policy stance regarding the proposed bill.

The financial markets have anticipated the initial rejection of Ethereum-based exchange-traded funds (ETFs) by regulators. However, a fund manager expressed optimism about the potential approval of such ETFs in the following year. This development comes after the recent approval of spot Bitcoin ETFs, which facilitated increased participation from traditional asset managers and hedge funds in the cryptocurrency industry during the first quarter, as reported.