According to Odaily, New York Federal Reserve President John Williams indicated on Monday that the Federal Reserve might further lower its interest rate targets as inflationary pressures continue to ease. Speaking at a meeting of the Queens Chamber of Commerce in New York, Williams emphasized that monetary policy remains in a restrictive range to support the sustainable return of inflation to the 2% target. Looking ahead, Williams stated, "I expect that over time, it will be appropriate to continue moving towards a more neutral policy setting." He highlighted that the policy path will be data-dependent, reflecting the lessons learned over the past five years about the persistent uncertainty of economic forecasts. However, Williams did not provide specific guidance on the timing of potential rate cuts or whether he anticipates the Federal Reserve will lower its rate targets at this month's Federal Open Market Committee (FOMC) meeting.

According to Odaily, recent on-chain data reveals that approximately one hour ago, Tether Treasury minted an additional 1 billion USDT on the Ethereum blockchain. This development marks a significant increase in the supply of the stablecoin, which is widely used in cryptocurrency trading and transactions. The minting of such a large amount of USDT could have various implications for the cryptocurrency market. Tether, known for its role in providing liquidity and stability, often sees increased issuance during periods of heightened trading activity or demand for stablecoins. The Ethereum blockchain, being one of the most popular platforms for decentralized finance (DeFi) and other blockchain applications, continues to be a preferred choice for Tether's operations. This latest minting event underscores the ongoing demand for USDT in the digital asset ecosystem. As traders and investors seek stable assets amidst market volatility, Tether's role as a stablecoin becomes increasingly crucial. The issuance of USDT on Ethereum also highlights the blockchain's capacity to handle large-scale transactions efficiently, further solidifying its position in the cryptocurrency landscape.

According to CME's "Fed Watch", the probability that the Fed will maintain the current interest rate unchanged by December is 25.5%, and the probability of a cumulative interest rate cut of 25 basis points is 74.5%. The probability of maintaining the current interest rate unchanged by January next year is 20.6%, the probability of a cumulative interest rate cut of 25 basis points is 65.1%, and the probability of a cumulative interest rate cut of 50 basis points is 14.3%.

On-chain data showed that about an hour ago, Tether Treasury minted 1 billion new USDT on the Ethereum blockchain.

Vivek Ramaswamy, another head of the Department of Government Efficiency (DOGE) appointed by Trump, posted that most government projects should have clear deadlines. That's why we set one for the Department of Government Efficiency: July 4, 2026. Musk forwarded the post saying that the last step of the Department of Government Efficiency is to lay off itself. Earlier, Trump said at Mar-a-Lago in Florida that the "Department of Government Efficiency" will release its last report on July 4, 2026. In the view of Newsweek, although the "Department of Government Efficiency" led by Musk has taken the lead at the moment, its biggest role is to serve the US mid-term elections and give a "big gift package" to the 250th anniversary of the founding of the United States in 2026.

According to Odaily, Grayscale has announced on the X platform that its Grayscale XRP Trust is now accessible to qualified investors interested in investing in XRP. This fund supports the distributed XRP ledger, which is utilized for cross-border payments. The opening of the Grayscale XRP Trust marks a significant development for investors seeking exposure to XRP, a digital asset known for its role in facilitating international transactions. By providing a structured investment vehicle, Grayscale aims to offer a secure and regulated means for investors to engage with the XRP market. This move aligns with the growing interest in digital currencies and blockchain technology, particularly in the realm of cross-border financial transactions. Grayscale's initiative reflects the increasing demand for diversified investment options within the cryptocurrency sector. As digital assets continue to gain traction, investment trusts like the Grayscale XRP Trust provide a pathway for institutional and accredited investors to participate in the evolving digital economy. The trust's focus on the XRP ledger underscores its potential in enhancing the efficiency and speed of cross-border payments, a critical aspect of global financial systems.

New York Fed President John Williams said on Monday that the Federal Reserve may further lower its interest rate target as inflation pressures continue to cool. "Monetary policy remains in a restrictive range to support a sustainable return to the 2% target for inflation," Williams said in a speech at a meeting of the Queens Chamber of Commerce in New York. Looking ahead, "I expect that it will be appropriate to continue to move to a more neutral policy setting over time," Williams said, and the policy path will depend on the data. If we have learned anything over the past five years, it is that the outlook remains highly uncertain. Williams did not give clear guidance on the timing of a rate cut or whether he thinks the Fed will lower its interest rate target at this month's FOMC meeting.

Fed Governor Waller said he favors a rate cut in December unless data surprises. The policy rate is already restrictive enough, so even if it is cut in December, there is ample room to slow down the pace of rate cuts in the future if needed. If data show that the forecast of slowing inflation is inaccurate, he will support keeping interest rates unchanged in December.

Grayscale announced on the X platform that Grayscale XRP Trust, which powers the XRP Ledger, a distributed network used for cross-border payments, has opened to qualified investors seeking to invest in XRP.

According to developer documentation, the US crypto exchange Coinbase is integrating Apple Pay into its fiat-to-cryptocurrency deposit and withdrawal service. The product, called Coinbase Onramp, offers a one-click purchase feature that aims to reduce the cumbersome procedures that users need to go through when recharging their self-hosted wallets. Coinbase said in a statement that using cryptocurrencies often involves "a lot of friction, so users give up." Formerly known as Coinbase Pay, Onramp is essentially a software development kit (CDK) and a series of APIs that enable programmers to embed fiat-to-cryptocurrency conversion functionality into their mobile or web applications and browser extensions.

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Golden Finance launches Golden Web3.0 Daily to provide you with the latest and fastest news on games, DeFi, DAO, NFT and Metaverse industries.

In November 2024, a total of 21 hacking incidents occurred, resulting in a loss of approximately US$76.86 million, of which US$25.5 million was returned. The causes of the incidents involved contract loopholes, account hacking, and price manipulation.

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For stablecoins pegged to the US dollar like USDC, MiCA stipulates that their issuers must obtain an Electronic Money Institution (EMI) license and ensure that the reserves of the stablecoin match its circulation.

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AI-powered virtual pets are gaining popularity in China, driven by the demand for emotional support and low-maintenance companionship. These pets, like Cupboo and Moflin, offer interactive experiences with advanced AI that can remember past interactions, engage in conversations, and even assist with tasks, appealing to a wide range of consumers.