Crypto News: BTC, ETH FUD, Tether, ICP, INJ, Fed Cuts & MORE!!

Coin Bureau Weekly Crypto News Round-Up

Key Points:

  • Market slump potentially triggered by Elizabeth Warren's anti-crypto bill, which could effectively ban crypto in the US.
  • BTC is sitting above a key support, but risk of further correction exists.
  • ETH is underperforming against BTC, and worries about Layer 2s overtaking the main chain have arisen.
  • JP Morgan predicts ETH will outperform BTC in 2024.
  • Stablecoins face increased regulatory scrutiny; Tether's reserves are managed in part by financial firm Canor Fitzgerald.
  • The Fed plans to start cutting interest rates next year, which could eventually lead to an increase in asset prices, including crypto.
  • Top performing cryptos last week include Internet Computer, Bonk, Osmosis, Injective, and Helium, each with specific catalysts.

Detailed Summary:

Crypto Market Slump

  • Elizabeth Warren's anti-crypto bill requires KYC for all crypto activities, creating a potential ban in the U.S.
  • BTC experienced a >10% drop, now sits above the Bollinger Band moving average - a critical support.
  • ETH's price in USD almost mirrors BTC, also showing potential for a double bottom bounce.

Ethereum Updates

  • Vitalik Buterin considers keeping more functions on the Ethereum main chain due to rising Layer 2 dominance.
  • JP Morgan shifts to a bullish stance on ETH because of the upcoming upgrade, despite earlier criticism.

Stablecoin Regulatory Scrutiny

  • Canor Fitzgerald's CEO, Howard Lutnick, reveals involvement with Tether's USDT reserves.
  • Tether faces regulatory pressures, seeking compliance to avoid actions like asset seizure.

Federal Reserve Interest Rates

  • Fed signals interest rate cuts next year, potentially leading to a rally across financial markets.
  • Rate cuts could indicate anticipation of future economic problems, possibly including issues with China's economy.

Top Performing Cryptos

  • Internet Computer (ICP): Rally likely due to exposure at an environmental summit.
  • Bonk: Pumped because of Coinbase listing and a related airdrop.
  • Osmosis (OSMO): Surge in trading volume and upcoming liquid staking feature.
  • Injective Protocol (INJ): Increased trading volumes on its derivatives DEX.
  • Helium (HNT): Continues to gain on the low-cost mobile plan hype in the US.


The video reviews the weekly developments in the crypto market, analyzing potential effects of regulatory moves, market technicals, and specific project updates. It also highlights possible bullish catalysts and global economic factors that could impact market performance, concluding with a roundup of the week’s top-performing cryptocurrencies.

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