AICoin Daily Report (January 30)

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23 hours ago

1. Federal Reserve Focuses on Trump's New Policies

Odaily Planet Daily reports that Federal Reserve Chairman Jerome Powell stated at a press conference that it is too early to say what President Donald Trump's policies will entail, and the Federal Reserve will take time to assess what the new government's policy framework means. Federal Reserve officials are "waiting" to see what policies the new president will implement. He said, "We do not know what will happen with tariffs, immigration, fiscal policy, and regulatory policy. We will closely monitor what is being implemented. The Federal Reserve will not rush to formulate a policy so that we have time to understand what our policy responses should be." -Original

2. Robinhood Launches Bitcoin Futures Trading

Trading platform Robinhood has revealed that it will launch futures trading for Bitcoin, oil, and gold, stating that the new service is "coming soon." -Original

3. SEC to Seek Comments on Litecoin ETF

The SEC announced that it will seek comments and request submissions within 21 days after publication in the Federal Register. Bloomberg's senior ETF analyst Eric Balchunas stated that Nasdaq's 19b-4 filing is the first "recognized" altcoin ETF. -Original

4. Tesla's Bitcoin Holdings Valuation Adjusted Upward

Elon Musk's Tesla (TSLA) appears to have utilized a new accounting rule that allows for the valuation of held digital assets at market value each quarter. The company's fourth-quarter earnings report shows that as of the end of 2024, its holdings of 9,720 Bitcoins are valued at $1.076 billion. This figure is higher than the $184 million from previous quarters. In addition to this change, Tesla also recorded a GAAP revenue increase of $600 million from its digital assets. In the long term, the company's GAAP total revenue for the fourth quarter was $2.3 billion. A new regulation from the Financial Accounting Standards Board (FASB) requires corporate holders of digital assets to mark these assets to market at the beginning of each quarter, no later than the first quarter of 2025. Companies can choose to utilize the new rule before this deadline, and Tesla seems to have done so. Before this new regulation, corporate holders of digital assets had to report these assets at the lowest valuation during the holding period. Tesla's adjusted earnings per share for the fourth quarter were $0.73, below the expected $0.76. Nevertheless, the stock price rose by 3.5% in after-hours trading. According to data from Bitcoin Treasury, Tesla holds 9,720 Bitcoins, making it the sixth-largest publicly traded company holding Bitcoin on its balance sheet. -Original

5. Traders Expect Fed Rate Cut in June

Odaily Planet Daily reports that traders expect the Federal Reserve to wait until June to cut interest rates. -Original

6. Federal Reserve Maintains Stable Interest Rates

As expected, the Federal Reserve kept the benchmark federal funds rate range unchanged at 4.25%-4.50%, marking the first pause since the central bank began easing policy last September. The accompanying policy statement noted that the unemployment rate has stabilized at "low levels," while inflation remains "slightly elevated." After facing pressure for most of the week, Bitcoin (BTC) prices fell to $101,800 shortly after the announcement. Since the Fed's first rate cut in September, the federal funds rate has been lowered by 100 basis points. However, the yield on the U.S. 10-year Treasury bond has moved in the opposite direction, rising from 3.6% to 4.6%—a rare divergence between short-term and long-term rates. This divergence, along with a series of stronger-than-expected economic and inflation reports, did not go unnoticed by the Fed. After the bank's December meeting, Chairman Jerome Powell clearly stated that there would not be further rate cuts for the time being. Powell's post-meeting press conference is about to begin, and market participants will seek further guidance on future policies. -Original

7. Cardano Hard Fork Launching Soon

The nonprofit organization supporting the project, Cardano Foundation, stated on X that the proof-of-stake blockchain Cardano will transition to decentralized governance after the Plomin hard fork takes effect later on Wednesday. "The Plomin hard fork marks the transition to fully decentralized governance. ADA holders gain real voting rights—on parameter changes, treasury withdrawals, hard forks, and the future of the blockchain," said the Cardano Foundation. "[This is] a milestone in blockchain governance." According to data from CoinDesk, as of the time of writing, Cardano's ADA token was trading at $0.93, up 1.4% for the day. A hard fork is a non-backward-compatible change to blockchain programming. The Plomin hard fork requires stake pool operators to upgrade their nodes and approve the upgrade with a 51% vote. As of last week, nearly 80% of nodes had upgraded to the new version. -Original

8. MicroStrategy Cultivates Bitcoin Expertise

MicroStrategy posted on the X platform that the company is currently cultivating Bitcoin expertise within its team through structured training programs and certifications. MicroStrategy requires the entire company to understand Bitcoin standards, helping colleagues grasp how enterprises can effectively integrate Bitcoin into their operations, ensuring that everyone at MicroStrategy understands the fundamentals of Bitcoin and its alignment with the company's financial strategy. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com)

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