Fed may delay rate cuts. White House releases crypto report

Hey, traders! 👋

It’s been a strong week for the crypto market, but what exactly went down over the past seven days? Let’s break down the key events in this weekly digest 👇

quick weekly news

Fed rate cuts may not occur at the next meeting

Yesterday, the Fed held an interest rate meeting followed by a press conference. During the event, Fed Chair Jerome Powell stated that due to the ongoing risks associated with tariffs, no decision has been made yet regarding a potential rate cut in September.

“A pretty reasonable base case is that this will be a one-time price increase, and in the end, we’ll make sure that that’s the case…. We’re just trying to do that efficiently, and efficiently means getting the timing right,” Powell said.

He also added: “If we cut rates too soon, maybe we didn’t finish the job with inflation. History is dotted with examples of that… If you cut too late, then maybe you’re doing unnecessary damage to the labor market.”

While the decision to hold rates steady in this meeting was largely expected by the market, Powell’s suggestion that there may be no rate cut in September caused confusion among traders. As a result, market confidence in a September rate cut dropped to 39%, down from 63%, according to the CME FedWatch Tool.

However, a September rate cut is still on the table. Not only is President Donald Trump publicly calling for rate reductions, but two Fed governors, Christopher Waller and Michelle Bowman, also opposed the decision to keep the federal funds rate unchanged. This marks the first time since late 1993 that multiple governors have cast dissenting votes on a rate decision, according to CNBC.

That said, the arguments for maintaining current rates remain valid. Although the U.S. has reached trade agreements with key allies, the newly set 15% tariff rates are still significantly high and may impact domestic inflation. Meanwhile, tensions with major U.S. trade partners, Brazil, India, and China, continue to escalate. These frictions are no longer just about economic competition but also involve geopolitical concerns, such as the risk of secondary sanctions on Russian oil.

White House releases long-promised crypto report

The U.S. President Donald Trump’s Working Group on Digital Assets has released a long-awaited crypto policy report, outlining its stance on the future of crypto regulation in the country. The report covers key areas such as the crypto market structure, jurisdictional oversight, banking regulations, taxation of cryptocurrencies, and the promotion of U.S. dollar hegemony through stablecoins.

One of the most significant points is the establishment of a clear “taxonomy” of digital assets, aiming to define which crypto assets should be classified as securities and which as commodities. The White House proposes dividing responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

According to the report, crypto assets classified as commodities should fall under CFTC oversight, while the SEC would regulate tokens defined as securities. Notably, the proposal also suggests giving the CFTC authority over spot crypto markets, a shift from the current structure.

Finally, the Working Group emphasized the importance of allowing banks to offer digital asset services, including crypto custody, to their customers. The report urges banking regulators to streamline the bank chartering process and make the regulatory requirements more transparent.

Strategy buys 21K Bitcoin with 2025’s biggest public offering

Michael Saylor’s Strategy completed its largest Bitcoin acquisition this year, adding 21,021 $BTC for around $2.46B at an average price of $117,256 per token, bringing its total holdings to 628,791 $BTC. The acquisition was funded through a $2.5B raise from its fourth preferred stock offering, $STRC, which emerged as the biggest U.S. IPO in 2025 so far, surpassing Circle’s $1B listing in June.

The transaction priced 28M shares of Variable Rate Series A Perpetual Preferred Stock (STRC) at $90 each and now trades on Nasdaq. STRC is the first U.S.-listed perpetual preferred security of a Bitcoin treasury company, offering monthly, board-adjusted dividends to income-focused investors.

This move comes in line with Strategy’s pattern of leveraging equity and debt products to accumulate its Bitcoin treasury, a path that has been followed by over 160 public companies seeking to generate crypto holdings.

Bitcoin ETF institutional investors will now be able to redeem shares for BTC

The SEC has approved in-kind creations and redemptions for crypto-based ETFs, a major shift from the previous cash-only model for spot Bitcoin and Ethereum funds. This means authorized participants can now swap ETF shares directly for the underlying $BTC or $ETH, avoiding forced sales through market makers and reducing costs.

SEC Chair Paul Atkins called the move part of a “fit-for-purpose regulatory framework” for digital assets, aiming to lower expenses and improve efficiency for investors. The change applies broadly to all approved Bitcoin and Ethereum ETFs, following months of anticipation and filings from issuers like BlackRock, Grayscale, and Bitwise.

The decision comes as crypto ETFs hit record inflows of over $11B in July, with Ethereum products drawing $1.6B last week alone.

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