🇺🇸 Treasury Secretary Bessent says he's ready to replace Fed Chair Jerome Powell if President Trump wants him to.#DYMBinanceHODL $ETH | Arletha Loos y4xX on Binance Square

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🇺🇸 Treasury Secretary Bessent says he's ready to replace Fed Chair Jerome Powell if President Trump wants him to.#DYMBinanceHODL $ETH 

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🇺🇸 USDC issuer Circle applies for national trust bank license in the US. Circle, the issuer of the USDC stablecoin, has applied for a national trust bank license with the US Office of the Comptroller of the Currency. This move aims to enable Circle to self-custody its USDC reserves and provide custodial services for digital assets to institutional clients. The national trust bank license would allow Circle to manage its USDC reserves directly and offer custodial services for tokenized traditional assets, such as stocks and bonds. The proposed entity, First National Digital Currency Bank, N.A., would operate as a federally regulated trust institution, subject to OCC oversight. Circle's application aligns with emerging US regulations, including the GENIUS Act, which requires stablecoin issuers to maintain liquid asset backing and provide monthly reserve disclosures. This move could accelerate mainstream adoption of stablecoins among traditional financial institutions and retailers, further cementing Circle's position as a bridge between traditional finance and the digital asset economy. Circle joins Anchorage Digital, which received a national trust bank charter in 2021, as one of the few crypto firms with such a license.#REX-OSPREYSolanaETF $ETH

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🇺🇸 Senator Cynthia Lummis calls for Congress to end unfair taxes on Bitcoin and crypto. "For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it. It's time to stop this unfair tax treatment and ensure America is the world's Bitcoin and Crypto Superpower. #StrategyBTCPurchase $BTC

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US President Donald Trump is escalating pressure on the Federal Reserve, demanding a drastic cut in interest rates to 1% and suggesting he'd prefer Fed Chair Jerome Powell to resign. Trump criticized the Fed for keeping borrowing costs high, saying, "I think we should be paying 1% right now." He also made it clear that any successor to Powell would need to align with his economic agenda, particularly on rate cuts. Trump wants the Fed to cut rates to 1%, significantly lower than the current range of 4.25-4.50%. Powell's term as Fed Chair runs until May 2026, and Trump has indicated he'll nominate a successor who shares his views on rate cuts. The Fed, however, remains cautious about cutting rates too quickly, citing concerns over reigniting inflation. Trump's demands have sparked debate over the independence of the Federal Reserve and the potential implications for the US economy.#DYMBinanceHODL $BTC

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🇺🇸 Treasury Secretary Bessent says crypto stablecoin legislation could be finalized by mid-July. US Treasury Secretary Scott Bessent predicts stablecoin market capitalization could reach $2 trillion by 2028, driven by rising demand and potential regulatory clarity through the GENIUS Act, which aims to establish a regulatory framework for stablecoin issuers. The GENIUS Act has cleared a major procedural vote in the Senate, with a final vote expected soon. Senate Majority Leader John Thune has urged the House to act quickly to get the bill on President Donald Trump's desk. While there's no exact confirmation of a mid-July deadline, Senate Banking Chair Tim Scott mentioned holding a hearing on broader crypto regulation in July. The bill might pass by fall, but stablecoin legislation could be finalized sooner. The GENIUS Act aims to establish a regulatory framework for US-based stablecoin issuers, focusing on investor protection, anti-money laundering standards, and full asset backing. The stablecoin market is predicted to grow significantly, potentially reaching a $2 trillion market cap by 2028, driven by rising global demand, US Treasury backing, and regulatory clarity. It's essential to note that the progress of the bill and its potential impact on the market are being closely watched by industry stakeholders and lawmakers alike.#StrategyBTCPurchase $ETH

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🇺🇸 Treasury Secretary Bessent says they are working to select Fed Chair Jerome Powell's replacement in coming weeks. The White House is set to begin interviewing candidates to replace Federal Reserve Chair Jerome Powell this fall, six months before his term ends in May 2026, ensuring a smooth transition while respecting the Fed's operational independence. According to Treasury Secretary Scott Bessent, the White House plans to start interviewing candidates this fall, with Powell's term ending in May 2026. This allows for a six-month lead time to ensure a smooth transition. The White House will begin interviewing potential successors to Jerome Powell this fall, providing ample time for selection and preparation. Despite public calls for lower interest rates, Bessent reassured that the administration respects the Federal Reserve's operational independence. Bessent highlighted the distinction between the Fed's monetary policy decisions and its regulatory responsibilities, suggesting more discussion may focus on the latter. Regular meetings between Bessent and Powell indicate stability in financial markets with no significant concerns requiring emergency planning.#DYMBinanceHODL $BTC

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