Fed Holds Steady as Crypto Industry Sees $12.86 Billion in Q2 Financing

The Federal Reserve has maintained its interest rates unchanged in recent times. This decision comes as a relief to some market players, who were expecting a change in the monetary policy.

Meanwhile, a certain exchange based in the US is planning to launch a prediction market and will be applying for permission from the CFTC next month.

In Tennessee, Hawkins County has become the latest jurisdiction to ban crypto mining facilities and data centers. The move aims to protect local residents from potential environmental hazards associated with these operations.

Meta's revenue has reached an all-time high, but its stock price is under pressure due to increasing AI costs. In a statement, Walsh reiterated the 2% inflation target, emphasizing that there is no 'soft target' for monetary policy.

JPMorgan has announced that it has completed the unwinding process of leveraged ETFs in South Korea's stock market. Additionally, hedge funds have reportedly finished deleveraging to the tune of 90%.

Ethereum Institutional has successfully completed its initial fundraising round, with notable investors BitMine and SharpLink among others participating.

The total amount of financing and mergers & acquisitions in the crypto industry reached $12.86 billion in Q2, with debt financing emerging as a significant source.

Metaplanet is continuing to offer its users the option to borrow funds to buy coins, having launched its first Bitbonds issuance in Japan. The annual interest rate on these bonds can reach up to 4%.