FameEX Morning Crypto News Recap | February 13, 2025

Fed Chairman Powell hints at potential interest rate changes to counteract tariff policies

Federal Reserve Chairman Powell indicated that while progress is being made on inflation, the target has not yet been reached. The Fed aims to maintain a tight policy and may adjust interest rates as needed to address the impact of tariff policies on the economy.

Bitcoin Reserve Bills Across 20 U.S. States Could Lead to $23 Billion in Purchases

Matthew Sigel, VanEck’s digital asset research director, analyzed Bitcoin reserve bills across 20 U.S. states. If passed, the bills could drive $23 billion in Bitcoin purchases, equivalent to 247,000 BTC. This would not involve pension funds, and additional funds could flow in if lawmakers proceed with further legislation.

Federal Reserve Governor Waller Advocates for Direct Action on Stablecoin Risks

Federal Reserve Governor Waller urged U.S. regulators to address stablecoin risks, suggesting regulation would help stabilize the market and expand the global role of the dollar. He also proposed that both banks and non-banks should be permitted to issue stablecoins.

Bitcoin Price Stays Near $96,000, With New Whale Support at $89,200

Axel Adler Jr. from CryptoQuant highlighted that the new whale group’s cost base is at $89,200, providing strong support for Bitcoin’s current consolidation. According to Glassnode, short-term holders sold Bitcoin at a loss totaling $834 million, while those holding for one to six months experienced smaller losses of $126.5 million.

Bitcoin Network Transaction Confirmation Time Hits Record 19 Minutes

Bitcoin’s average on-chain transaction confirmation time has reached a historic 19 minutes, driven by network congestion, block size limits, and fluctuating fees. These factors are causing delays in transaction processing and extended confirmation periods.

US Customs Confiscates $5 Million in Bitcoin Mining Equipment

U.S. Customs and Border Protection has started seizing Bitcoin mining ASIC equipment, including devices from MicroBT and Canaan, at the Federal Communications Commission’s request. The equipment contained AI chips that lacked FCC approval. The affected companies reported the seized devices are valued at $5 million.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.