June’s softer-than-expected US inflation data has bolstered the case for interest rate cuts as early as September, providing welcome relief for investors amid a difficult economic landscape.
Meanwhile, this week proved challenging for Elon Musk, and US Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam advocated for expanded regulatory authority over cryptocurrencies.
Stay informed on the latest developments in the tech world with the Investing News Network’s round-up.
Amid investor optimism triggered by Powell’s congressional testimony, the Bitcoin price trended up mid-week, reaching a notable value of US$59,322 on Tuesday. Ethereum’s valuation reached US$3,184 on Thursday.
IDC told Bloomberg that a more affordable version, which is expected to be released in 2025, could boost sales, but reiterated that the success of the Vision Pro will depend on the variety and quality of content available.
In regulatory news, the CFTC’s Behnam testified before the US Senate Committee on Agriculture, Nutrition and Forestry’s Hearing on the Oversight of Digital Commodities on Wednesday.
While the hearing did not lead to any immediate legislative action, it provided an opportunity for lawmakers to engage with Behnam on the complex issues surrounding cryptocurrency regulation.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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