Welcome back to another Crypto Daily 3 at 3. What's going on, guys? It is Wednesday, September 18th, and we got a good one today. First, we're going to talk about Fed rate cuts and repo action to get the market stimulated, what it means for Bitcoin, what people are talking about. Number two, we're going to talk about

Binance U.S.'s launch with a big surprise. And number three, we're going to talk about a Bitcoin

ETF proposal withdrawal. But let's start on the big topic for today, the rate cuts. So

last month, the Fed cut rates for the first time in Bitcoin's 10-year life, and now they're

prepared to engage in a second rate cut, right? So they're going to lower the recommended rate

from 2 to 2.5%, which is where it is now, to 1.75 to 2% to 2% target. And so this has kind of been anticipated, right? There's been a lot of

pressure, as we've discussed before, on the Fed to lower rates, to be more aggressive with its

monetary policy. Trump has been tweeting about it and really exerting all the pressure that he can. Basically,

he's worried about the strength of the dollar compared to the rest of the world and what it means.

And so the rate cut has been anticipated. And in fact, in a lot of ways, we function in an economy

now where it's not just about the rate cuts, but it's about the projections and the Fed

signaling what it's likely to do in the future, not just right now, that drives markets.

So that's going on. But that was not the only Fed action this week that we need to talk about.

So Pomp captures the essence of it right here. He says, wow, the Federal Reserve has injected over $100 billion into the financial system in the last 48 hours. That's more than 50% of the total market cap of Bitcoin. Rather than fix the structural issues, they just keep trying to print their way out of this mess. Bitcoin rocket fuel.

So that's the standard Bitcoin take, which is totally fine. But let's figure out what's actually

going on. So this is from Bloomberg, Fed Prep's second $75 billion blast with repo market still

on the edge. Well, what's a repo market? This op-ed from the Financial Times, I think, did a really good job of explaining it. So the

op-ed is titled, why is the Federal Reserve pouring money into the financial system? And it starts,

one of the most important sources of financial market lubrication came under severe strain this

week, raising concerns that the Federal Reserve's attempt to unwind post-financial crisis intervention may have gone too far. Repurchase agreements,

that's what you hear when you hear someone say repo, are the grease that keeps the financial

system wheels spinning, allowing different market participants to borrow and lend to each other

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