Happy Thursday!

Bitcoin is tumbling again even though the Fed cut rates and Trump announced a trade deal with China: what is going on?

JPMorgan has tokenized a private equity fund, and JPM stock is now facing a crucial test at the $312 level: here’s what you need to know.

Plus, with markets moving fast following the rate cut, if you want access to the same toolkit top investors use to decode the chaos, check out Benzinga Edge.

TOP STORY

Bitcoin Plummets Below $109,000 After Fed Rate Cut — Classic ‘Buy The Rumor, Sell The News’ Reaction?

Bitcoin has plummeted below $109,000 after the expected Fed rate cut, prompting renewed debate over whether crypto traders once again fell for a “buy the rumor, sell the news” setup.

According to on-chain data provider Santiment, while the rate cut was widely expected, Jerome Powell’s hawkish tone during the post-meeting press conference rattled markets.

The Fed Chair cautioned that another cut in December isn’t guaranteed, citing persistent inflation and limited data visibility due to the ongoing government shutdown.

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, Dogecoin are sliding following the Fed’s hawkish FOMC meeting: here’s what’s driving the market today.

Donald Trump’s pardon of Binance’s Changpeng Zhao continues to stir debate: did it follow a big stablecoin deal by Binance?

Tether now holds more U.S. debt than countries like South Korea and Germany: here’s what’s driving the growth.

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FINTECH FOCUS

JPMorgan Tokenizes Private Equity Fund As JPM Targets Key $312 Level

JPMorgan Chase & Co. has tokenized a private-equity fund on its blockchain platform for wealthy clients, marking a key milestone in its push to digitize alternative investments.

The bank said on Thursday that its new tokenized fund is available to select private-bank clients ahead of next year’s full rollout of its Kinexys Fund Flow platform. 

The system converts fund ownership into digital tokens recorded on JPMorgan’s private blockchain, simplifying transfers and settlement as per WSJ.

Read the full scoop here.

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