Teaser: Bank of Japan Governor to Discuss Future Interest Rate Path at 2:30 PM Today
On December 19th, Bank of Japan Governor Haruhiko Kuroda will hold a press conference at approximately 3:30 p.m. local time (2:30 p.m. Beijing time) to further detail the considerations behind the central bank’s latest decision and its future interest rate trajectory. Markets widely expect the BOJ to continue raising rates in small, predictable, data-dependent steps rather than opting for aggressive tightening.
Additionally, following the rate hike announcement, the Japanese yen initially strengthened against the U.S. dollar before paring gains. It fell below the 156 level intraday, posting a 0.3% decline. Market reaction suggests investors have fully priced in the rate hike, confirming the BOJ’s assessment that the current adjustment does not significantly alter its accommodative stance—instead, it is part of a “gradual normalization” process.
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Japanese Yen Hike: The Boot Has Dropped
, Bitcoin Responds with a Jump of over 2.19%
On December 19th, per HTX market data, Bitcoin surged over 2.19% amid market concerns that the “shoe dropped” on a Japanese Yen interest rate hike, last trading at $87,489.
Prior to this, the Bank of Japan (BOJ) raised its policy rate by 25 basis points as scheduled, noting it will continue to hike rates if economic and price conditions align with its forecasts and improve in line with economic and price trends.
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The Bank of Japan has raised interest rates three times before, and each time Bitcoin has experienced a drop of over 20%.
**December 19th**
Market data shows the Bank of Japan (BOJ) has hiked interest rates three times since 2024: March 2024, July 2024, and January of this year.
For decades, a large share of global capital market liquidity has stemmed from Japan—not just the U.S. Japan’s long-running zero or negative interest rate policy (NIRP), paired with an ultra-loose monetary environment, has effectively acted as a low-cost funding ATM for the global financial system.
As a result, BOJ rate hikes have delivered a significant tightening effect on global liquidity. Bitcoin has fallen in price following each of the three hikes, with declines of 23.06%, 26.61%, and 31.89% respectively.
However, the latest BOJ rate hike was well anticipated, and the market has already priced it in. Whether this round will trigger a similar Bitcoin price drop as seen previously remains uncertain.
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Coinbase CEO: Predicts the Market is a Substitute for Traditional Media, Stronger Than Traditional Polling Signals
On December 19th, Coinbase CEO Brian Armstrong shared his take on prediction markets in an interview, emphasizing they go far beyond sports or policy betting.
“Prediction markets are actually an alternative to traditional media—one where people can glean real market signals,” he said.
Policymakers can leverage them to identify optimal policies to implement and gauge outcomes if those policies are enacted, he noted.
Armstrong added that prediction markets deliver stronger signals than traditional polls, explaining: “Telling the truth yields real incentives, while lying carries a steep economic penalty.”
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The FBI has dismantled a cryptocurrency money laundering platform operated by Russians, with the case involving more than $70 million.
December 19: The U.S. Department of Justice (DOJ) announced that the Federal Bureau of Investigation (FBI) has partnered with European law enforcement agencies to take down E-Note—a major multinational money laundering platform that provided cryptocurrency cash-out services for cybercriminals. Operated by a Russian national, the platform processed over $70 million in illicit funds since 2017, including assets extorted and stolen from U.S. victims.
The U.S. Attorney’s Office for the Eastern District of Michigan has indicted 39-year-old Russian national Mykhalio Petrovich Chudnovets on charges of money laundering conspiracy. Prosecutors allege that since 2010, the suspect has helped transnational criminal organizations launder proceeds of crime and convert cryptocurrency to cash via his controlled E-Note payment processing service. Law enforcement has seized the platform’s servers, mobile apps, and related domain names. If convicted, Chudnovets faces a maximum 20-year prison sentence.
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Coinbase CEO: Aim to Become the Leading Financial App, Also Ensure Leadership in AI
On December 19, Coinbase CEO Brian Armstrong discussed the company’s new AI financial tool, Coinbase Advisor, and its future vision.
He noted that Coinbase Advisor will help users manage their finances, pull in all details about their investment portfolios, gauge their risk tolerance, and build optimized portfolios to boost returns.
AI benefits everyone—from those with limited financial literacy to advanced traders—by cutting out repetitive tasks. AI is disrupting every industry, and financial services are no exception. Coinbase is working to stay ahead of the curve.
Its long-term goal is to become the top financial app, and that’s the direction the company is heading.
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