Matt breaks down why cryptocurrency prices slid after the U.S. central bank’s big update. He also covers how Donald Trump and Joe Biden are warming to crypto; MicroStrategy’s latest capital raise; Bitcoin ETFs in Australia; and altcoin updates.

Key Takeaways 

• Cryptocurrency prices after the U.S. Federal Reserve said it now anticipates just one rate cut in 2024, down from the three cuts estimated in March.
• Presidential candidates Donald Trump and Joe Biden continue to up their engagement with the crypto industry, a promising development given both have historically opposed crypto. However, time will tell whether it lead to any favourable outcomes after November’s election.
• Australia’s largest stock exchange, the ASX, approved its first spot Bitcoin ETF. This milestone should bring greater credibility to Bitcoin and crypto more broadly.
• Among the altcoin updates covered: Lido’s involvement with Symbiotic and Mellow Finance, and Polygon and Arbitrum announce well-funded growth initiatives.