A U.S. bill aimed at clarifying the regulatory framework for decentralized finance and stablecoins is close to final approval, though its progress has been slowed by a review process. Major banks are expanding crypto services; for example, PNC Bank has partnered with Coinbase to let private‑bank clients trade spot bitcoin directly through the bank’s platform. Ethereum ownership remains highly concentrated, with the top ten holders controlling about 70 % of the circulating supply, many of which are linked to staking or custodial pools, and new staking options for ETH and SOL are now available through Robinhood.

The Federal Reserve cut its benchmark rate by 25 basis points, a move that historically provides liquidity that can lift Bitcoin, though the effect may be delayed. Bitcoin trades between $90,000 and $95,000, with the CoinDesk 20 index slipping about 2 % recently, while Standard Chartered now projects Bitcoin to reach $100,000 by the end of 2025. GameStop’s Bitcoin treasury fell $9.2 million over three months, leaving a balance of $19.4 million, and Iren secured a $9.7 billion contract with Microsoft to shift from mining to AI data‑center services, boosting revenue and stock price. These developments illustrate the evolving regulatory, institutional, and market dynamics shaping the crypto sector.

The Federal Reserve lowered its target federal‑funds range by 25 basis points to 3.50 %–3.75 %, marking the third cut of 2025 and the lowest level in more than three years. The move was widely expected and was followed by a positive market reaction: the S&P 500 closed near its record high, the Russell 2000 reached a new all‑time high, and Micron Technology shares hit a record peak. In related corporate news, Nvidia will sell its H200 chips to Chinese firms, with 25 % of the revenue earmarked for the U.S. government, while Google announced a capital‑expenditure plan of over $90 billion for AI infrastructure by the end of 2025.

On the international front, more than 1.9 million Afghans have returned to Afghanistan from Pakistan and Iran, and a combined 4.5 million Afghan migrants have been deported from those two countries, a trend attributed to economic strain and rising xenophobia. Fed Chair Jerome Powell noted that the central bank faces a “no‑risk‑free path” in balancing employment and inflation, and that officials hold differing views on the appropriate stance. The Fed’s latest Summary of Economic Projections forecasts one additional rate cut in 2026.

The Federal Reserve’s 25‑basis‑point cut to a 3.5‑3.75 % target range was followed by gains across major U.S. indices, with the S&P 500 approaching a record close and the Russell 2000 hitting a new all‑time high. Oracle Corp. reported Q2 FY 2026 revenue of $16.06 B, slightly below estimates, but delivered a strong earnings beat with an adjusted EPS of $2.26; its cloud revenue grew 34 % YoY to $8 B and cloud infrastructure revenue rose 68 % YoY to $4.1 B, while software revenue slipped 3 % YoY. Broadcom’s shares have surged 132 % year‑to‑date, driven by AI‑powered networking solutions and a 41× forward earnings valuation, reflecting the company’s shift toward higher‑margin software through its VMware acquisition.

Adobe Inc. posted Q4 earnings with an EPS of $5.50 and revenue of $6.19 B, both exceeding estimates, and the stock held steady at $345.18 after the release. Nvidia announced sales of its H200 chips to Chinese firms, earmarking 25 % of the revenue for a specified purpose, while Micron Technology reached a record high following the Fed cut. The Spheria Global Opportunities Fund posted a -1.7 % return in Q3 2025, underperforming its benchmark, and Microsoft shares fell about 3 % after a letter from state attorneys‑general warned about AI chatbot risks.

The Fed cut the federal‑funds target range to 3.5‑3.75 % in a 9‑3 vote, the third rate cut of 2025. Three members dissented, with two voting “no” and one voting for a half‑point cut. The decision follows a series of moderate easing moves that keep the policy rate in a neutral range.

The dot plot released with the decision shows only one additional cut in 2026 and one in 2027, indicating a slower pace of future reductions. Inflation is projected to fall to 3 % in 2025 and 2.5 % in 2026, while the Fed will resume buying $40 billion of Treasury bills starting Friday, with purchases expected to remain high for a few months before tapering. These actions reflect the Fed’s assessment that economic conditions remain supportive of gradual rate adjustments.

Oracle Corp. reported Q2 FY 2026 adjusted earnings per share of $2.26, a 54 % year‑over‑year increase that exceeded the consensus estimate of $1.64. Revenue reached $16.06 B, slightly below the $16.21 B estimate, but the company’s cloud segment grew 34 % to $8 B, with cloud infrastructure up 68 % to $4.1 B. Traditional software revenue fell 3 %, contributing to a 14 % year‑over‑year revenue rise overall.

The Federal Reserve lowered the federal funds target range by 25 basis points to 3.5 %–3.75 %, marking the third cut of 2025. The rate reduction helped lift Micron Technology’s shares to a new all‑time high, reflecting market optimism about lower borrowing costs for the semiconductor industry. The Fed’s policy shift also signals a continued focus on easing monetary conditions while monitoring inflation and employment data.