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DOGE, XRP Down 3% as Bitcoin Traders Eye Wednesday Fed Decision

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The crypto market was little changed-to-lower on Tuesday, with dogecoin (DOGE) and XRP leading declines among major tokens with losses of just over 3% in the past 24 hours. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell 2%.

The lack of volatility comes as bitcoin (BTC) traders largely brace for the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday, which could set the tone for monetary policy and influence risk assets including cryptocurrencies.

The Federal Reserve’s decision on interest rates — widely expected to remain unchanged at 4.25%–4.50% — and any comments from Chair Jerome Powell could sway investor sentiment. A hawkish stance, signaling tighter policy or a slower path to rate cuts, might pressure bitcoin and lead to more pronounced losses in altcoins. Conversely, a dovish tilt hinting at future easing could spark a relief rally.

“A rate cut this Wednesday remains highly unlikely as the U.S. pivots away from fiscal dominance, where government spending fueled growth, toward [President Donald] Trump’s push for deficit reduction,” traders from QCP Capital shared in a broadcast message Tuesday. “The shift puts the burden back on monetary policy. While we do not anticipate a surprise cut, any dovish signal from Powell could be the catalyst that sparks upside momentum.

“Capital may be rotating out of Trump-driven momentum trades like NASDAQ and Bitcoin and into long-overlooked European and Chinese markets. Historically, crypto prices have lagged shifts in global liquidity conditions,” QCP Capital traders added.

Agne Linge of WeFi noted that broader market volatility remains elevated, with the crypto fear and greed index at 22 — indicating «extreme fear» — as investors grapple with uncertainties around inflation, trade wars, and geopolitical tensions.

“In the United States, the S&P 500 and Nasdaq Composite recorded their fourth consecutive weekly declines last week, with the Dow Jones dropping by 3.1% to record its worst weekly turnover in about 24 months. While the previous week saw an unusual drawdown, more uncertainty lies ahead for the rest of the month,” Linge said, noting any macroeconomic headwinds could ultimately weigh down bitcoin prices.

At Bitget Research, chief analyst Ryan Lee said bitcoin remains in a tight range with a move to either $75,000 or $90,000 equally likely, based on how traders react to the U.S. rate decision.

“Bitcoin’s recent pullback has traders watching key support levels between $82,000 and $85,000. It’s a classic post-rally consolidation phase that is healthy but also a test of whether the recent momentum has real staying power,” Lee said in an email to CoinDesk. “Any unexpected FOMC moves could throw a wrench into the market.

“If sentiment turns bearish, we could see Bitcoin dip toward $75,000–$80,000, though a bullish macro backdrop could send it climbing back to $90,000,” he added.

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Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Read more: Stablecoin Payments Projected to Top $1T Annually by 2030, Market Maker Keyrock Says

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Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

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on

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Read more: Stablecoin Payments Projected to Top $1T Annually by 2030, Market Maker Keyrock Says

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Gemini Shares Slide 6%, Extending Post-IPO Slump to 24%

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Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss, has seen its shares tumble by more than 20% since listing on the Nasdaq last Friday.

The stock is down around 6% on Tuesday, trading at $30.42, and has dropped nearly 24% over the past week. The sharp decline follows an initial surge after the company raised $425 million in its IPO, pricing shares at $28 and valuing the firm at $3.3 billion before trading began.

On its first day, GEMI spiked to $45.89 before closing at $32 — a 14% premium to its offer price. But since hitting that high, shares have plunged more than 34%, erasing most of the early enthusiasm from public market investors.

The broader crypto equity market has remained more stable. Coinbase (COIN), the largest U.S. crypto exchange, is flat over the past week. Robinhood (HOOD), which derives part of its revenue from crypto, is down 3%. Token issuer Circle (CRCL), on the other hand, is up 13% over the same period.

Part of the pressure on Gemini’s stock may stem from its financials. The company posted a $283 million net loss in the first half of 2025, following a $159 million loss in all of 2024. Despite raising fresh capital, the numbers suggest the business is still far from turning a profit.

Compass Point analyst Ed Engel noted that GEMI is currently trading at 26 times its annualized first-half revenue. That multiple — often used to gauge whether a stock is expensive — means investors are paying 26 dollars for every dollar the company is expected to generate in sales this year. For a loss-making company in a volatile sector, that’s a steep price, and could be fueling investor skepticism.

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