Crypto Markets Surge After Powell Hinted At Rate Cuts, Cynthia Lummis Doubts Kamala Harris’ Crypto Support And More: Top Crypto Updates #CashNews.co

As the week rolled in, the world of cryptocurrencies saw a flurry of activity. From market surges to political tensions, the crypto landscape was anything but dull. Here’s a quick round-up of the top stories that made headlines.

Bitcoin, Ethereum, and Dogecoin Witness ‘Golden Cross Formation’ – The cryptocurrency markets traded higher on Friday following hints from Federal Reserve Chair Jerome Powell about a potential shift towards cutting interest rates. Read the full article here.

Ron Conway Cuts Ties With Pro-Crypto PACs – Prominent Democratic donor Ron Conway announced his decision to sever ties with a coalition of influential cryptocurrency super PACs. This move came after the PACs committed $12 million to opposing Sen. Sherrod Brown (D-Ohio), a decision Conway claims he was not informed about in advance. Read the full article here.

See Also: Bitcoin, Ethereum, Dogecoin Welcome The Weekend With ‘Golden Cross Formation,’ Trader Says ‘Cycle Can Trump The 2016-2017 Cycle’

Sen. Cynthia Lummis Doubts Kamala Harris’ Crypto Support – Sen. Cynthia Lummis (R-Wyo.), a known cryptocurrency and Bitcoin advocate, claimed there is nothing to suggest that Democratic presidential candidate Kamala Harris will support the industry. Lummis contrasted the Democratic Party’s stance with the Republican Party platform, which pledged to protect and promote cryptocurrency activities in the country. Read the full article here.

Crypto Industry Invests $119M in 2024 Elections – The cryptocurrency industry has reportedly committed a staggering $119 million to the 2024 presidential election, in a coordinated effort to boost industry-friendly candidates. Major companies, primarily Coinbase and Ripple, have channeled the majority of these funds, almost exclusively into super political action committees (PAC) dedicated to promoting pro-cryptocurrency candidates. Read the full article here.

Anthony Scaramucci Foresees Bitcoin Hitting $100K – Anthony Scaramucci, the CEO of investment firm SkyBridge Capital, expressed optimism about Bitcoin’s progress this year and hopes the leading cryptocurrency will reach $100,000. Scaramucci recalled how Bitcoin was “decimated” in the fall of 2022 and how the regulatory approval of ETFs earlier this year helped boost demand and sentiment. Read the full article here.

Read Next: Amid Heated Trump-Harris Battle, Crypto Industry Pours ‘Unprecedented’ $119M Into 2024 Elections – Here Are The Biggest Donors

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This story was generated using Benzinga Neuro and edited by Anan Ashraf.