By George Glover

Crypto stocks were rising on Wednesday, on Federal Reserve Chair Jerome Powell's latest comments about interest-rate cuts.

Shares in Bitcoin treasurer Strategy climbed 1%, and major crypto exchange Coinbase Global added 0.6% after slumping 4.7% and 4.3%, respectively, in Tuesday's session. The S&P 500 was 0.7% higher.

The moves came after Powell signaled that weakness in the labor market weakness showed there was room for the central bank to lower rates more.

Traders then firmed up bets that the Fed will slash borrowing costs by another half-point by the end of the year. Their actions propped up crypto prices, which have tumbled on the increased trade tensions between the U.S. and China.

The platforms will need cryptos to pare back their losses to spark a rebound. Shares in Strategy, formerly called MicroStrategy, are down 33% over the past three months, probably on worries that the value of its Bitcoin pile will fall if the token's slump carries on.

As of Monday, the company owned 640,250 Bitcoins, a position that would be valued at $72 billion based on current prices.

Write to George Glover at george.glover@dowjones.com

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October 15, 2025 10:05 ET (14:05 GMT)

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