Bitcoin Plunge Sends Shockwaves Through Crypto Markets

The post Donald Trump Petitions Supreme Court To Remove Fed Governor Lisa Cook appeared on BitcoinEthereumNews.com. U.S. President Donald Trump is forging ahead with his plan to remove Fed Governor Lisa Cook, as the Justice Department has filed a petition on his behalf to allow him to remove her. This follows the FOMC meeting yesterday, in which the Fed cut rates for the first time this year, leading to a crypto market rally. Trump Petitions Supreme Court On Lisa Cook Case A court filing shows that the Justice Department, on behalf of the U.S. president, has asked the apex court to stay the preliminary injunction issued by the U.S. District Court pending appeal to the U.S. Court of Appeals and any further proceedings in the Supreme Court. The Solicitor General also requested an immediate administrative stay of the preliminary injunction. The District Court had earlier issued an injunction reinstating Lisa Cook as a Fed Governor after Trump fired her over the mortgage fraud allegations, which the president described as enough cause in line with the Federal Reserve Act. Meanwhile, the Appeals Court had rejected Trump’s petition to stay this ruling just hours before the FOMC took place on Tuesday. The Fed Governor eventually took part in the Fed meeting and voted in favor of a rate cut as the committee made the first interest rate cut this year, lowering rates by 25 basis points (bps). Trump Seeking Majority Of The Fed It is worth mentioning that the U.S. president had remarked that they would soon have the majority of the Fed around the time when he first attempted to fire Lisa Cook. His attempt to remove the Fed Governor has also come amid his criticism of the Fed for its refusal to lower interest rates, although that has now changed. Despite this, the president has shown that he wants interest rates to come down drastically, which…

The post Ripple’s RLUSD Goes Live on Binance as XRPL Support Nears appeared on BitcoinEthereumNews.com. In the latest XRP News, Ripple shared that its RLUSD stablecoin

The post SEC Clears the Way for Spot Crypto ETFs with New Generic Rules appeared first on Coinpedia Fintech News The U.S. SEC has approved new listing standards that simplify the process for launching spot crypto ETFs under the ’33 Act. Cryptocurrencies with listed futures on Coinbase, currently about 12 to 15 coins, will now qualify automatically, removing the need for separate case-by-case approvals. This change streamlines regulatory procedures, cutting delays and hurdles, while opening …