💥💥💥 Summary of Major News of the Day
👉 President Trump continues to call for the Fed to cut interest rates, especially after the positive CPI report. He emphasized that a 1% rate cut would help alleviate the burden of interest costs on the upcoming large debt.
👉 Vice President JD Vance stated that the Fed's refusal to cut interest rates is a “policy error in monetary policy.”
👉 Commerce Secretary Howard Lutnick mentioned that "many" new trade agreements are about to be signed.
👉 Senator John Thune affirmed that crypto will exist for a long time, arguing that stablecoins help protect national security and that it is time to integrate crypto into the mainstream financial system.
👉 Treasury Secretary Bessent warned of the risk of a crisis if the debt ceiling is not addressed, while supporting #stablecoin as a tool to bolster the dollar's dominant position.
👉 Billionaire Paul Tudor Jones stated that buying Bitcoin is one of the best ways to "combat inflation."
👉 The CEO of Bank of America noted that the bank is developing its own stablecoin.
👉 GameStop plans to raise $1.75 billion through 0% convertible bonds to support the company's general operations, including the potential purchase of #Bitcoin as a reserve asset.
👉 The U.S. Senate voted to invoke cloture by a margin of 68–30 for the GENIUS stablecoin bill, opening a debate period lasting up to 30 hours. After the debate concludes, the Senate will proceed to a final vote to decide on the passage of the bill.