Gate Alpha Launches 116th Airdrop of BLUAI Tokens

The post Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps appeared on BitcoinEthereumNews.com. The Federal Reserve has made its first Fed rate cut this year following today’s FOMC meeting, lowering interest rates by 25 basis points (bps). This comes in line with expectations, while the crypto market awaits Fed Chair Jerome Powell’s speech for guidance on the committee’s stance moving forward. FOMC Makes First Fed Rate Cut This Year With 25 Bps Cut In a press release, the committee announced that it has decided to lower the target range for the federal funds rate by 25 bps from between 4.25% and 4.5% to 4% and 4.25%. This comes in line with expectations as market participants were pricing in a 25 bps cut, as against a 50 bps cut. This marks the first Fed rate cut this year, with the last cut before this coming last year in December. Notably, the Fed also made the first cut last year in September, although it was a 50 bps cut back then. All Fed officials voted in favor of a 25 bps cut except Stephen Miran, who dissented in favor of a 50 bps cut. This rate cut decision comes amid concerns that the labor market may be softening, with recent U.S. jobs data pointing to a weak labor market. The committee noted in the release that job gains have slowed, and that the unemployment rate has edged up but remains low. They added that inflation has moved up and remains somewhat elevated. Fed Chair Jerome Powell had also already signaled at the Jackson Hole Conference that they were likely to lower interest rates with the downside risk in the labor market rising. The committee reiterated this in the release that downside risks to employment have risen. Before the Fed rate cut decision, experts weighed in on whether the FOMC should make a 25 bps cut or…

The post Reform UK Gets Britain’s Biggest Political Donation Ever From Tether Investor appeared on BitcoinEthereumNews.com. In brief Reform UK landed a record-breaking $11.4 million (£9 million) donation from Christopher Harborne, the largest gift ever made to a UK political party by a living donor. The contribution helped push Reform’s Q3 fundraising to more than $12.9 million (£10.2 million), more than double that of the Tories. Harborne, a longtime donor across the British political spectrum, was listed as a shareholder of Bitfinex and Tether parent company DigFinex between 2017 and 2018. A Thailand-based investor in crypto firms just handed Nigel Farage’s Reform UK $11.4 million (£9 million), the largest single donation to a British political party from a living donor. Christopher Harborne, who has been listed as a shareholder in the parent company of stablecoin issuer Tether, pushed Reform UK’s total donations to more than $12.9 million (£10.2 million) between July and September, according to Electoral Commission figures released Thursday. That’s more than double what the Conservatives raised at $5.8 million (£4.6 million), and miles ahead of Labour’s $2.7 million (£2.1 million) and the Liberal Democrats’ $1.3 million (£1 million). The donation points to crypto-related funds making serious inroads into British politics ahead of the next general election. It also marks the first quarter since last year’s general election that Reform UK has out-fundraised the Conservatives, as Farage’s party leads in national opinion polls. Reform UK has already staked out a position for itself as the crypto industry’s champion in Westminster, with Farage promising to slash capital gains taxes on cryptocurrency and force the Bank of England to establish a Bitcoin reserve. Harborne’s donation dwarfed all other Q3 contributions, with the next-largest being games programmer Jeremy Elliott San’s $1.3 million (£1 million) to the Conservatives, followed by Labour’s $459,000 (£362,625) from Unite and the Liberal Democrats’ $63,300 (£50,000) from Neale Powell-Cook. Mega donor The reclusive Harborne…