In today's crypto news, Coinbase Institutional anticipates a robust year-end rally for Bitcoin, fueled by an increase in global M2 supply and potential US Federal Reserve rate cuts. Their report suggests that improved liquidity and a 92% chance of rate cuts could lead to a December recovery, following previous predictions of October weakness. This aligns with seasonal trends known as the 'Santa Claus rally.' Meanwhile, Western Union plans to launch a 'stable card' aimed at users in high-inflation regions, addressing issues like the drastic devaluation of remittances in countries like Argentina. CFO Matthew Cagwin highlighted the card's utility in preserving value for recipients. Additionally, Strategy CEO Phong Le discussed the firm's recent $1.44 billion USD reserve, established to reassure investors amid Bitcoin's downturn. This reserve, raised through a stock sale, aims to cover dividend obligations for up to 24 months, countering fears of financial instability in the crypto market.
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