Weekly Highlights: Fed Frenzy Fuels Market Fireworks

1ATH.Studio
4 min readMar 22, 2024

Navigate through the aftermath of a whirlwind week in crypto, marked by strategic Fed plays and thrilling coin rallies.

Coinbase to Launch Dogecoin Futures Trading

Coinbase has announced plans to introduce futures trading for Dogecoin, alongside Litecoin and Bitcoin Cash, starting April 1st. This strategic move, outlined in recent letters to the CFTC, is driven by Dogecoin’s sustained appeal within the crypto community, marking its evolution from a meme coin to a significant player in the digital currency space

Robert Kiyosaki Critiques Peter Schiff’s Financial Strategies

Robert Kiyosaki, renowned author of ‘Rich Dad Poor Dad’ and a fervent Bitcoin supporter, has publicly critiqued financial analyst Peter Schiff for his tax avoidance strategies by residing in Puerto Rico.

Kiyosaki emphasized Schiff’s expertise in gold and silver but pointed out limitations in his understanding of debt and real estate. He advised his followers to broaden their financial knowledge in debt, real estate, and taxes to enable a global lifestyle.

Elon Musk’s First Brain Chip Patient Plays Online Chess With his Mind

Neuralink, the brain-computer interface (BCI) company founded by Elon Musk, streamed a live video on Wednesday showcasing a breakthrough moment in neurotechnology. The footage featured Noland Arbaugh, 29, the first human patient to receive Neuralink’s brain implant, demonstrating the device’s capabilities.

In the live demonstration, Arbaugh used Neuralink’s implant to control a computer mouse and play chess on a computer solely through neural signals.

Iconic ‘Dogwifhat’ Meme Sold for $4M in Ether to Trader GCR

The image that sparked the viral Dogwifhat meme coin has been acquired for a staggering $4 million in ether by renowned crypto trader GiganticRebirth (GCR). This landmark transaction took place on the Foundation auction platform, with the starting bid set at 0.15 ETH. The picture of Achi, the dog donning a pink beanie, has captivated a global audience, fueling the meme’s popularity. The intense bidding war concluded with GCR’s winning bid of 1,210 ETH, outlasting competitors like Memeland in a closely watched auction.

Next-Gen ChatGPT: OpenAI Set to Unveil GPT-5 This Summer

OpenAI, led by Sam Altman, is set to release the next version of its ChatGPT model in the upcoming months, marking a significant advancement in generative AI technology.

Demonstrations of the latest model and its enhancements to the ChatGPT tool have been provided to select enterprise customers, as confirmed by anonymous sources familiar with the company’s plans.

SEC Intensifies Efforts to Classify Ethereum as a Security

The SEC is intensifying its legal efforts to potentially classify Ethereum as a security, as evidenced by recent subpoenas issued to U.S. companies within an ongoing investigation. This development casts a shadow over the crypto industry’s optimism for an Ethereum ETF, particularly after the SEC’s approval of Bitcoin ETFs earlier this year.

SEC Sanctioned for Misconduct in DebtBox Case

An Utah judge has sanctioned the SEC for bad faith conduct in its proceedings against crypto firm DebtBox. The ruling accuses the SEC of abusing the judicial process, leading to the imposition of sanctions including the payment of DebtBox’s legal fees. Furthermore, the court denied the SEC’s motion to dismiss the charges against DebtBox without prejudice, preventing the refiling of similar charges in the future.

$122.5M Raised in a Week of Crazy Solana Presale Meta

Crypto detective ZackXBT has unveiled staggering figures from the Solana meme coin surge, with over 655,000 SOL (approx. $122.5 million) amassed from 27 presales in just one week. The recently released $Smole token leads the pack with a substantial 169,000 SOL raised, while the widely infamous $Slerf ranks third with 59,000 SOL.

Federal Reserve Leaves Interest Rates Unchanged

The Federal Reserve has decided to keep US interest rates steady at a 25-year peak of 5.25% to 5.5%, following its latest two-day meeting. This decision comes as the Fed evaluates the ongoing effects of these rates on mitigating inflation and their broader economic impact.

Despite maintaining current rates, the Federal Reserve has indicated potential rate cuts later this year, aligning with Fed Chair Jerome Powell’s recent hints at an upcoming shift in monetary policy to address the inflationary pressures initially sparked by the Covid pandemic.

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