This Week in Crypto – Banking Giants Say the Fed Could Cut Rates At Least Twice in 2025

Did you miss the top crypto stories from September 1 to 8? Do not worry! This article highlights key developments that happened during that period.

The Fed to Cut Interest Rate At Least Twice Before 2026, Top Financial Firms Predict

Following a weak labor report for August, in which just 22,000 jobs were added, a figure way below the expectation of 75,000, several top banks are now predicting that the US Central Bank (Federal Reserve) will lower interest rates at least twice before the year ends.

Bank of America, which initially claimed that the Fed would not cut rates in 2025, has reversed its stance and is now forecasting two cuts of 25 basis points each. Its analysts told Bloomberg that the first cut could happen in September and the second one in December.

Meanwhile, investment bank Goldman Sachs sees three rate cuts this year. Its economists claim the Fed will likely announce the first cut in September, with the second and third cuts in October and December.

Trump-Linked Company Closes Deal With Crypto.com to Create a CRO Treasury

Last Friday, Trump Media, the company that operates Donald Trump’s social media platform Truth Social, entered a deal with popular cryptocurrency exchange Crypto.com to create a new entity responsible for accumulating the exchange’s native token, Cronos (CRO).

According to the agreement, Trump Media would make an initial CRO purchase of 684 million tokens, worth over $105 million, based on the current price of $0.155. Furthermore, Truth Social users will soon be able to earn Cronos within the platform once a rewards program is rolled out.

Unlock My WLFI Tokens, Tron Founder Urges World Liberty Financial Developers

Justin Sun, the brains behind the Tron blockchain, is urging the developers of World Liberty Financial, a Trump Family-affiliated crypto project, to unlock his WLFI tokens after his wallet addresses were blacklisted due to accusations of attempting to dump his massive holdings.

Sun’s wallets were restricted from selling just a few hours after promising to hold his WLFI allocation and even support the project. In an X post on Friday, the Tron founder said the move to blacklist his wallet was unreasonable and it damaged the image of Word Liberty Financial among investors.

Trump Jr.-Affiliated Media Firm to Start Mining Dogecoin

Thumzup, a media company linked to Donald Trump Jr., plans to purchase 5,000 mining rigs to mine Dogecoin after it completes the acquisition of DOGE mining firm DogeHash Technologies. The firm says it will no longer offer adtech services and will rebrand to Dogehash Technologies Holdings.

BitMine Adds $65 Million Worth of ETH to Its Treasury

BitMine, the largest institutional Ethereum holder, bought ETH worth $65 million last week, bringing its total holdings to 2,069,443 coins. Its CEO, Tom Lee, who spoke on the Level Up podcast after the massive purchase, claimed that Ethereum would soon have a “1971 moment” and rally to $60,000. For beginners, the US stock market saw significant gains on August 17, 1971, as former American President Richard Nixon took multiple measures to curb inflation and boost the USD value.

Now Lee believes that increased institutional interest in Ethereum could trigger a similar rally in the coming months.

Venus Protocol Helps Phishing Attack Victim Recover $13.5 Million

Crypto lending app Venus Protocol recovered $13.5 million worth of stolen funds for a user who was targeted through a phishing attack launched by North Korea-based criminal organization Lazarus Group on September 9.

But how did Venus Protocol recover the stolen funds? An emergency vote conducted by eligible voters permitted the platform to liquidate the wallet of the attacker, enabling stolen assets to be seized and transferred to the affected user’s wallet.

Bitcoin Could Plunge to $50k During Bear Market, Analyst Claims

According to crypto analyst Jao Wedson, the bear market could begin in the coming month as he claims that the bull market is in its last stage based on historical data. He predicts a severe bearish move to $50,000 if BTC breaks below the $80,000 major support.