KEYTAKEAWAYS
- The Federal Reserve cut interest rates by 25 basis points, with only one rate cut expected in 2026.
- Gemini Receives CFTC Approval to Enter Prediction Markets, May Expand to Crypto Futures, Options, and Perpetual Contracts in the Future
- Maji Reduces ETH Long Position by 2100 Tokens, Losing $130,000
- KEY TAKEAWAYS
- Maji Reduces ETH Long Position by 2100 Tokens, Losing $130,000
- Gemini Receives CFTC Approval to Enter Prediction Markets, May Expand to Crypto Futures, Options, and Perpetual Contracts in the Future
- The Federal Reserve cut interest rates by 25 basis points, with only one rate cut expected in 2026.
- DISCLAIMER
- WRITER’S INTRO
CONTENT
Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.
Maji Reduces ETH Long Position by 2100 Tokens, Losing $130,000
As ETH fell below $3200, Maji (Huang Licheng) reduced his ETH position by 2100 tokens, incurring a loss of $130,000.
Maji’s long position’s latest liquidation price is $3193.9, and liquidation could be triggered at any time. The remaining 9000 tokens have a floating loss of $630,000.
Gemini Receives CFTC Approval to Enter Prediction Markets, May Expand to Crypto Futures, Options, and Perpetual Contracts in the Future
Crypto exchange Gemini Space Station, Inc. (ticker symbol GEMI) has received approval from the Commodity Futures Trading Commission (CFTC) on Wednesday to operate a Designated Contract Market (DCM). In a statement, Gemini said its prediction platform, named “Gemini Titan,” will initially offer classic binary event contracts, which “pose simple ‘yes or no’ questions about future events.” In the future, the platform may expand to other derivatives markets under CFTC regulation, such as cryptocurrency futures, options, and perpetual contracts.
The Federal Reserve cut interest rates by 25 basis points, with only one rate cut expected in 2026.
On December 10th local time, the Federal Reserve announced a 25 basis point cut to its benchmark interest rate, lowering it from the current 3.75%-4% range to 3.5%-3.75%. This is the Fed’s third consecutive rate cut, bringing the cumulative reduction to 75 basis points. In its statement, the Fed said that current indicators show economic activity is expanding at a moderate pace, but job growth has slowed this year, and the unemployment rate rose before September. Recent indicators are consistent with these developments. Notably, significant divisions emerged again among members of the Federal Reserve’s Monetary Policy Committee in the vote. This marks the third consecutive time that Governor Milan has voted against the cut; his term expires in January. Schmid voted against the cut for the second consecutive time. Three members voted against the cut, a situation that has not occurred since September 2019.
The closely watched “dot plot” of future policy projections shows that the Federal Reserve will cut interest rates only once in 2026 and once more in 2027, after which the federal funds rate will reach its long-term target of approximately 3%. These projections are unchanged from the September update, but the chart reflects the internal disagreement within the committee regarding the direction of interest rates. In addition to the interest rate decision, the Federal Reserve also announced that it will resume purchasing Treasury bonds.
