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BUZZ-Crypto stocks rise after bitcoin jumps on Fed's interest rate cut

Reuters · 21h ago

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BUZZ-Crypto stocks rise after bitcoin jumps on Fed's interest rate cut

** Shares of cryptocurrency- and blockchain-related companies rise as bitcoin jumps after the Federal Reserve cut interest rates for the first time in four years

** Bitcoin BTC=, the world's biggest cryptocurrency, rise ~1.5%, while Ether ETH= edges up ~0.5%

** Crypto exchange Coinbase Global COIN.O up ~1.7%, U.S.-listed shares of blockchain farm operator Bitfarms Ltd BITF.O edge lower ~0.2%

** Crypto miners Riot Platforms Inc RIOT.O, Hut 8 Mining HUT.O and Marathon Digital MARA.O down between ~1.4% and ~2.9%

** Interest rate cut is expected to continue to improve investor sentiment towards crypto, which are interest-rate sensitive-assets like bonds and commodities

** Federal Reserve cuts interest rates by half of a percentage point, kicking off what is expected to be a steady easing of monetary policy

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com))

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