The Federal Reserve keeps benchmark interest rates unchanged Tether issues 1 billion USDT

Reprinted from jinse

05/08/2025·19D

Headlines

▌The Federal Reserve keeps the benchmark interest rate unchanged, in line with market expectations

The Federal Reserve announced that it would maintain the target range of federal funds rate between 4.25% and 4.50%, in line with market expectations. This is the third time since January this year that the Federal Reserve has kept interest rates unchanged. The minutes of the meeting showed that uncertainty in the U.S. economic outlook further increased, and the committee judged that the risks of rising unemployment and inflation had intensified.

▌ Tether issues 1 billion USDTs on Tron Network

According to whale Alert monitoring, Tether issued an additional USDT on Tron Network at 23:25 Beijing time.

Quotes

As of press time, according to Coingecko data:

BTC's recent transaction price is US$97,045.18, with an intraday increase and fall of +0.1% ;

ETH's latest transaction price is US$1,812.92, with an intraday increase and decrease of -0.3% ;

BNB's recent transaction price is US$602.93, with an intraday increase and decline of -0.1% ;

SOL's latest transaction price is US$147.25, with an intraday increase and decrease of +0.3 % ;

DOGE's latest transaction price is US$0.1722, with an intraday increase and decrease of -0.1 % ;

XPR's recent transaction price is US$2.13, with an intraday increase and decrease of -1.3 % .

policy

▌US OCC: Banks can buy and sell crypto assets custodian by customers and outsource related services

The U.S. Currency Complaints Agency (OCC) issued an explanatory letter Wednesday, clarifying that banks can "buy and sell crypto assets they hold custody at the request of their customers." The OCC also noted that banks “can outsource cryptocurrency-related activities to third parties, including custody and execution services.” The new policy continues the agency's shift to previous policies starting in March, which means banks no longer require regulatory approval before advancing crypto businesses.

▌The US Treasury Department will hold multiple roundtables for the crypto industry next week

Jacquelyn Melinek, a former Tech Crunch reporter, posted on social media that the U.S. Treasury Department will hold a series of private roundtables with members of the crypto industry next week to discuss ecosystem issues covering different fields such as DeFi, banking, and cybersecurity.

▌U.S. Treasury Secretary: The United States should become the preferred destination for digital assets

US Treasury Secretary Scott Becent recently said that the United States "should be the preferred destination for digital assets." This statement comes as lawmakers have a fierce debate on the formulation of a cryptocurrency regulatory framework.

When attending a hearing on the House Financial Services Committee on Wednesday, Becent was asked why the United States needs to stay ahead of the crypto field. “We firmly believe that the United States should be the first choice for digital assets,” Becent responded, “as this committee and colleagues in the Senate are working to achieve – establishing a sound market structure – to make American industry standards a global model.”

Blockchain application

▌ Stripe launches stablecoin account service in more than 100 countries around the world

Stripe announced on May 7 that will allow platform customers to “send, receive and hold dollar stablecoin account balances, similar to how traditional fiat bank accounts operate.” The account supports Circle's USDC and Bridge's USDB, which was acquired by Stripe in October 2024. The service will cover more than 100 countries including Argentina, Chile, Türkiye, Colombia and Peru.

▌ Robinhood plans to launch a blockchain-based platform to support European users to trade US stocks

Robinhood is planning to launch a blockchain-based platform that enables European users to trade U.S. securities, according to Bloomberg, citing anonymous sources. The plan “may be launched through a partnership with a digital asset company”, while “Layer 2 blockchain Arbitrum is being considered as a potential partner for this collaboration.” Robinhood has provided cryptocurrency trading services in Europe since 2023, but has not yet opened up U.S. stock trading.

Cryptocurrency

▌Binance releases a new period of reserve certificate, with a BTC reserve ratio of 102.06%

Binance released a new period of reserve certificate (snapshot date May 1), with user BTC assets of 604,411, Binance wallet balance of 616,886.378, and a reserve ratio of 102.06%; user USDT assets of 29.05 billion, Binance wallet balance of 29.66 billion, and a reserve ratio of 102.07%; user ETH assets of 5.281 million, Binance wallet balance of 5.29 million, and a reserve ratio of 100.16%.

▌ DeFi Development approves 1 split and continues to bet on Solana

The board of directors of DeFi Development Corp. has approved a split of its issued common shares of 1 split and 7 shares. The split increases the company's outstanding shares from about 2 million shares to 14 million shares, but the authorized share capital remains unchanged. The company said: "The stock split is intended to improve liquidity and make stocks more accessible to the wider investor community. The company will continue to implement a corporate vault strategy centered on accumulating SOL and infrastructure ownership." Each shareholder will receive an additional six shares on May 19, and if approved by Nasdaq, trading will resume on May 20 as adjusted for the share split.

▌A giant whale increased its investment of USDC by 1.8 million and shorted HYPE by 5 times leverage, and its current floating loss reached US$1.24 million

According to Spot On Chain, a crypto whale once again injected US$1.8 million into the Hyperliquid platform, increasing its short position in HYPE tokens. The giant whale has invested a total of US$10.36 million in one week to establish a 5-fold leverage position, currently worth US$29.1 million, with a floating loss of US$1.24 million, and a liquidation price of US$25.01.

Important economic trends

▌Powell : Tariffs "far exceed expectations", and the Fed's process of achieving its goals may be postponed until next year

Federal Reserve Chairman Powell said at a press conference that the tariffs imposed by US President Trump on April 2 local time were "far more than expected." Current tariff levels could lead to slowing economic growth and could drive long-term inflation to rise. "If the announced significantly increased tariffs continue to be implemented, inflation and unemployment may rise and economic growth may slow. The impact on inflation may be short-lived, reflected in one-time changes in price levels, but may also be more durable," Powell said. Powell said that given the scope and size of the tariffs, the risk of inflation and rising unemployment will certainly increase. If tariffs are ultimately maintained at current levels, the Fed's process to achieve its goals could be delayed until next year.

▌Trump : The US economy performs well and is about to take off in unprecedented ways

Trump posted on TruthSocial, a social media subsidiary, saying that we have made great progress in advancing that "large and beautiful bill." Our economy is doing well, but it is about to take off like never before. We will achieve: tax-free tips, social security payments for the elderly, tax-free overtime income, and more preferential measures. This will be the largest tax cut to date for middle-class and working-class Americans. It's time for ordinary people to win once.

▌The three major U.S. stock indexes closed up collectively

US stocks rose rapidly in the late trading, with the three major indexes collectively closing up, with the Dow Jones Industrial Average rising 0.7%, the S&P 500 rising 0.43%, the Nasdaq rising 0.27%, and the Philadelphia Semiconductor Index rising 1.74%. Google fell more than 7%, while Apple fell more than 1%, after Apple said it planned to add AI search function to its browser. Nvidia rose more than 3%, Amazon rose 2%, Meta, Netflix, Intel rose more than 1%, and Microsoft and Tesla rose slightly.

▌Summary of the Federal Reserve ' s FOMC statement and Powell 's speech: The Federal Reserve's policies are moderately restricted

The Federal Reserve announced that it would maintain the target range of federal funds rate between 4.25% and 4.50%, which is the third consecutive time the Federal Reserve has kept interest rates unchanged since January this year.

The FOMC statement shows that the committee judges that the risks of rising unemployment and inflation have increased. Inflation is still at a slightly higher level. Uncertainty in the U.S. economic outlook further increased. Economic activities continue to expand at a steady pace.

Powell said: The Fed does not need to rush to adjust interest rates. The Fed's policies are moderately restricted. Trump's call for a rate cut will not affect the work of the Federal Reserve at all. Inflation has dropped sharply. Short-term inflation expectations have risen, while long-term inflation expectations are consistent with the target. Survey respondents pointed out that tariffs are the main factor driving inflation expectations. The impact of tariffs has so far been much greater than expected.

▌Powell : The Fed does not need to rush to adjust interest rates

Federal Reserve Chairman Powell said that the potential inflation situation is good, the Federal Reserve does not need to rush to adjust interest rates, the cost of waiting is quite low, and the Federal Reserve's policies are moderately restricted. In some cases, it is appropriate to cut interest rates this year, and in some cases it is not appropriate to lower interest rates. You cannot confidently say that you know the right interest rate path. It also states that if there is a contradiction between the dual goals, the distance with the goal and the time to bridge the gap should be considered. As things develop, the Fed can act quickly if the time is right.

Golden Encyclopedia

▌What is general artificial intelligence

Unlike narrow-minded artificial intelligence (ANI) (using artificial intelligence to solve a single problem), general artificial intelligence (AGI) refers to artificial intelligence that can understand, learn, and apply knowledge in a way that is indistinguishable from human cognition. AGI is still in the theoretical stage, but the prospect of artificial intelligence being able to replace human input and judgment in an all-round way naturally attracts widespread attention, and researchers, technologists and scholars are working to turn the concept of AGI into reality.

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