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Bitcoin jumped above $94,000 Wednesday after the Federal Reserve announced a 25 basis-point rate cut, then quickly slid back to $92,000 as Fed Chair Jerome Powell delivered a mixed message on the economy. It’s now down to $90,000.

Stripe has hired the team behind Valora, a mobile crypto payments app built on the Celo blockchain, as part of its growing focus on stablecoin payments.

Gemini has received approval to launch regulated prediction markets in the U.S., the company said Wednesday. Its affiliate, Gemini Titan, is now licensed by the CFTC as a Designated Contract Market.

Top stories in the Crypto Roundup today:

• Bitcoin Falls Back After Brief $94K Spike as Fed Rate Cut Sends Mixed Signals
• Stripe Acqui-Hires Valora Team to Strengthen Push Into Stablecoin Payments
• Gemini Wins CFTC Approval to Launch U.S. Prediction Markets, Stock Jumps 14%

Bitcoin Falls Back After Brief $94K Spike as Fed Rate Cut Sends Mixed Signals

Bitcoin jumped above $94,000 Wednesday after the Federal Reserve announced a 25 basis-point rate cut, then quickly slid back to $92,000 as Fed Chair Jerome Powell delivered a mixed message on the economy. It’s now down to $90,000.

While Powell acknowledged signs the labor market may be softening, he stressed that inflation remains too high. That cautious tone undercut early optimism across crypto markets.

“The Fed made clear this cut doesn’t mark the start of an aggressive easing cycle,” said Daniela Hathorn, analyst at Capital.com.

The Fed also said it will begin buying short-term Treasuries, up to $40 billion over the next month, in a move aimed at easing financial conditions without restarting full-scale stimulus.

Ether  edged higher, holding above $3,300 before dropping to $3,180, while bitcoin struggled to break through resistance at $94,500. Analysts say spot ETF inflows could be the key to pushing prices higher if the cost of capital continues to fall.

Stripe Acqui-Hires Valora Team to Strengthen Push Into Stablecoin Payments

Stripe has hired the team behind Valora, a mobile crypto payments app built on the Celo blockchain, as part of its growing focus on stablecoin payments.

Valora founder Jackie Bona said the move would help speed up efforts to expand access to stablecoins. While the team joins Stripe, Valora’s intellectual property returns to Celo developer cLabs.

A Stripe spokesperson said the team’s experience in crypto wallets and onchain tools will support the company’s blockchain efforts.

The move follows Stripe’s recent acquisitions of crypto firms Bridge and Privy, as well as the launch of Tempo, a payment-focused blockchain developed with Paradigm.

Gemini Wins CFTC Approval to Launch U.S. Prediction Markets, Stock Jumps 14%

Gemini has received approval to launch regulated prediction markets in the U.S., the company said Wednesday. Its affiliate, Gemini Titan, is now licensed by the CFTC as a Designated Contract Market.

The license allows Gemini to offer event contracts—yes/no bets on real-world outcomes like Bitcoin’s price or regulatory actions. U.S. users will be able to trade them using dollars on Gemini’s web platform, with mobile access coming later.

The move puts Gemini alongside Kalshi as one of the few regulated U.S. venues for prediction markets. Offshore platforms like Polymarket remain unlicensed. Gemini also plans to expand into crypto derivatives, pending further development.

State of the Crypto by Top Tier Exchange Volume

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