The Federal Reserve has raised rates by 25 basis points to a range of 3.75–4.00% – the first increase in more than three years. The decision was unanimous. At the press conference, Kevin Warsh noted that the economy is stable, the labor market is strong, but inflation remains too high for too long. The probability of two more hikes by the end of 2026 has risen to 40% from 10% a week earlier. The Dow fell by 600 points, and the yield on 10-year bonds rose to 5.02%.
The crypto market reacted with a brief decline and recovery. Bitcoin was at $75,700 after the decision, then rose to $76,300. ETH – $2,430, SOL – $100, Hyperliquid – $80. Altcoins showed double-digit growth: ZEC +12% to $1,350, NEAR +15%, LIT +12%, VVV +12%. The market did not decline despite the rate hike and the failure of regulatory initiatives in the U.S.
Crypto funds attracted $5.68 billion across 384 deals in Q2 – a 31% increase quarter-over-quarter. Late-stage funds received 78% of the capital, with only five new funds closing – the lowest since 2019. According to Henley & Partners, about 290 people worldwide own crypto assets worth over $100 million, including 23 billionaires and 135,694 millionaires, with a total of around 742 million holders. BTC ETFs recorded $295 million in net outflows on Wednesday, while ETH ETFs saw $224 million. Hackers behind the Revolut leak demanded 6,000 XMR (about $3 million) within 24 hours, threatening to sell data from at least 680 accounts. The Arc network from Circle processed over $400 million on its first day of operation. Robinhood Chain launchpads showed $400 million in volume – the lowest since August 29. Bitcoin Core 32 has entered final testing ahead of its October release.
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