Crypto Prices Helped By U.S. Central Bank; Ledger Wallet Security Woes; Bitcoin ETF Progress

The team discusses the latest Ledger security issue and whether they still trust the company’s hardware wallets. They also break down the U.S. central bank’s new outlook to cut rates multiple times in 2024—which should help cryptocurrency prices—and other key events from the past week.Key Takeaways Cryptocurrencies and other risk-on assets jumped on the news that the U.S. central bank expects to cut rates three times in 2024, more than previously expected.Ledger suffered a security breach impacting users of various dapps. The issue was fixed within an hour, with some users losing funds. Ledger’s internal security practices continue to attract criticism. Ultimately, the hardware wallet itself was unaffected by this news.Bitcoin ETFs continue to dominate the crypto news and market’s attention. We still expect the SEC to approve most or all spot ETF applications by January 10.Senator Elizabeth Warren’s anti-crypto bill continues to threaten the U.S. crypto industry. Monitoring this bill’s progress will be important for investors in 2024.