CoinDesk

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.

The majority of cryptocurrencies in the index experienced gains over the past week, with the exception of Cosmos and Aptos, which did not participate in the broader market rally.

According to a trader's statement, there is a possibility that bitcoin's value could surpass the $70,000 mark over the upcoming weekend. This prediction is attributed to an increasing appetite for alternative assets among investors, which could drive up the demand for the cryptocurrency.

A recent report has indicated that a particular cryptocurrency does not face significant supply-side pressures, such as token unlocks or miner sell-offs, which could potentially impact its market dynamics.

The U.S. Treasury Department is seeking to bolster anti-money laundering and counter-terrorist financing measures related to digital assets as part of its broader strategy to combat illicit financing. This move comes amidst ongoing legislative efforts in the U.S. Congress to address cryptocurrency regulation and oversight.