Daddy Powell went full lumberjack 🪓

GM Builders! 🚧

Welcome back for another edition of the BW3 newsletter—a special post-FED meeting edition 🤑 

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Please reply to this email with why you’re excited about Web3, or just say hello. 👋 

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THE FED PIVOTS: LET THE CUTS BEGIN 😏 

This week just got spicier than expected—let's dive into the latest headline-grabbing moment: The Fed’s (somewhat) surprise 50 basis point interest rate cut. ✂️ 

Jerome Powell and the Fed dropped the hammer with a 50 bps rate cut, catching most of Wall Street off guard on the size of his… rate cut. 🏦 

Many analysts had only predicted a 25 bps cut, but Polymarket traders were ahead of the game, betting on the larger cut with a 52% chance. 🎲 

As the dust settled, some of the reactions were gold, while others were skeptic 🤔 

Scottie Pippen made an unexpected appearance in the crypto conversation, tweeting that Satoshi Nakamoto visited him in a dream, showing him what happened to Bitcoin the last time the Fed cut rates. 💤 

Could this be a sign of a bullish run (like the Bulls back in the 90’s) on the horizon for BTC? 🐂 

Meanwhile, Arthur Hayes turned the spotlight on a different player in the global economy: the Japanese Yen. 💴 

With the Fed's move causing ripples across international markets, the Yen is now in focus. Hayes suggests that the next big wave in markets might not come from the U.S., but from Japan’s financial moves. 🇯🇵

Crypto Twitter is buzzing with excitement, with many speculating that this could be the “banana zone” moment for digital assets. 🍌 

What’s fueling this optimism you ask?

The upcoming $16B distribution to FTX creditors in just two weeks. That’s right, a massive liquidity injection could be on its way into the market, which has folks predicting a possible bullish rally for crypto from it.

BUT, hold your horses! 🛑 

Not everyone’s convinced we’re on the verge of a crypto bonanza. Some are calling the Fed’s rate cut the biggest mistake since 2007, drawing comparisons to the lead-up to the 2008-09 recession. 📉 

The skeptics argue that this could be the final straw before another financial crisis. 🧃 

What’s the verdict? 

We’ll have to wait and see how the markets react in the coming weeks.

Whether we’re about to yonder into the banana zone or brace for a recession storm, one thing’s for sure: It’s never a dull moment in the world of crypto and finance. 😵‍💫 

MEME CITY 🏙️ 

Until next time, Builders! 🏗️ 

Keep chugging and watch out for the geese. 🦆