Kris Marszalek, CEO of crypto currency exchange Crypto.com, believes that in the fourth quarter of the year, digital asset markets will come to life with interest rate cuts of the US Federal Reserve.
It happened last year too
In an interview with Bloomberg, Marszalek said that reducing interest rates will provide more liquidity and increase interest in risky investments. CEO reminded that crypto markets gained 57 %with the reduction of interest rates of FED from 5.5 %to 4.5 %in the September-December period of last year, and that a similar picture could be experienced this year.
Marszalek looks at the FED on September 17th to go to interest rate cuts. Following the FED President Jerome Powell’s Jackson Hole’s speech on August 22, the probability of interest reduction in CME futures markets rose to 91.7 %. This strengthens the expectations of markets for loose monetary policy.
On the other hand, Marszalek said that the company has the necessary financial data for the public offering, but they prefer to remain as a private company for the time being. CEO, last year, $ 1.5 billion and approximately 1 billion dollars of gross profits, this year’s performance would be better. Stating that the idea of the public offering is attractive, Marszalek said that there was no definite decision yet.
Another issue that attracted attention in the interview was the preparation of Crypto.com to enter the estimation markets. Marszalek announced that they think that this area will grow a lot in the future and that they aim to become a “liquidity center for these markets in the USA. Although platforms such as Polymarket and Kalshi come to the fore, Marszalek stated that they will follow a competitive strategy.
Trump Media Partnership and Cro Rise
On August 26, Crypto.com announced that former US President Donald Trump has established a partnership with Trump Media & Technology Group, owner of Truth Social, the social media platform. Within the scope of this agreement, a treasury strategy will be created for Cronos (CRO), the local token of the stock market. Following the partnership announcement, the price of Cro Token increased by 150 %to $ 0.38 %, but then fell to $ 0.27. This price is less than 72 %of the highest level of token’s highest levels in November 2021.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
