CRCL, COIN, MSTR Among Crypto Stock Rally as Powell Signals Possible September Rate Cuts
Crypto-linked stocks and digital assets surged on Friday after Federal Reserve Chair Jerome Powell signaled that the central bank could begin cutting interest rates as soon as September.
The tone marked a shift after weeks of growing investor doubt that the Fed would act before year-end.
Bitcoin and ether (ETH) both moved higher following Powell’s remarks, as did the S&P 500 and Nasdaq. Shares tied directly to the crypto sector posted some of the sharpest moves of the day.
At the time of writing, Circle (CRCL) led the pack with a 7% jump. eToro (ETOR) and Marathon Digital (MARA) each climbed 6%, while Coinbase (COIN) rose 5%. MicroStrategy (MSTR), which holds billions in bitcoin, gained 4%, and Robinhood (HOOD) advanced…
