TL;DR

• U.S. prosecutors have charged four companies and 14 individuals for manipulating and defrauding the cryptocurrency market.

• Animoca Brands plans to increase its PROS token holdings by purchasing more from the open market.

• Federal Reserve meeting minutes reveal that the majority of members support a 50 basis point interest rate cut.

• The U.S. SEC Chairman stated that cryptocurrencies are unlikely to become mainstream forms of currency.

• The Ethereum Foundation has sold another 100 ETH.

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Alpha of the Day

Crypto Crime Doesn’t Pay: U.S. Prosecutors Go After Fraudsters

The crypto Wild West isn’t so wild anymore. U.S. prosecutors have slapped charges on four companies and 14 individuals for their role in manipulating and defrauding the cryptocurrency market. It’s like the financial equivalent of a reality show where everyone’s the villain, except now the real-world consequences are catching up. While most of us are just trying to figure out how to pronounce “DeFi,” these masterminds were busy rigging the system—and now, the law has come knocking.

Animoca Brands Goes Shopping: More PROS Tokens, Please!

If you thought Animoca Brands was done with PROS tokens, think again. The company is back in the market, planning to scoop up even more of these bad boys. It’s kind of like that one friend who claims they’re on a shopping ban but then buys "just one more" item in every sale. Except, instead of clothes, Animoca is stocking up on PROS tokens like it’s the Black Friday of crypto. They’re clearly betting big on the future of PROS—what’s next, a full-blown takeover?

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Fed’s Fifty Shades of Rate Cuts

The Federal Reserve is ready to play the interest rate game, with most members agreeing to a 50 basis point cut. According to the meeting minutes, they’re cutting rates, but not out of panic—more like they’re saying, “Let’s chill things out, but let’s not get crazy.” Think of it as a mild haircut for the economy, not a full buzzcut. It’s their way of saying, “We’ve got this under control,” but with just enough trimming to make everyone feel a little better.

Cryptos Aren’t Going Mainstream, Says SEC Chair

Sorry, crypto fans—according to the U.S. SEC Chairman, your favorite digital currencies won’t be hitting the mainstream anytime soon. In his words, they’re more of a niche player in the financial world, not the next big thing that’ll replace fiat currency. So, while Bitcoin enthusiasts are dreaming of a future where we pay for coffee with Satoshis, the SEC is giving them a polite reality check. Guess we’re sticking with boring old dollars for now, folks.

Ethereum Foundation Does It Again: 100 ETH Sold

The Ethereum Foundation has dropped another 100 ETH into the market, proving once again that they’re not shy about cashing in some of their digital assets. It’s kind of like when you finally decide to sell that one stock you’ve been holding onto for ages, except this is Ethereum we’re talking about, so the stakes are just a bit higher. Are they timing the market, or just making room in their wallets for something new? Either way, it’s always fun to see what the Foundation’s next move is.

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Fox News Election Showdown: Harris vs. Trump?

Mark your calendars (or don’t), because Fox News has suggested that the Harris-Trump election debate could go down on October 24 or 27. Picture it: a primetime event that’s half political debate, half WWE match. Sparks will fly, microphones might get slammed, and we’ll all be glued to our screens with popcorn in hand. Whether it happens or not, you know this debate would break the internet in more ways than one.

Fed Says Relax: Big Rate Cuts Aren’t a Red Flag

According to the latest Federal Reserve meeting minutes, that juicy interest rate cut you’ve been hearing about doesn’t mean the economy is spiraling down the drain. It’s more of a proactive move than a panic button, reassuring us that everything is still under control—kind of like when you cancel plans "just to rest" and not because you're exhausted from life. So, don’t panic; the Fed’s got this… allegedly.

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