Inflation is Falling!
Financial markets are holding their breath, waiting for September 18, when the Fed decides on interest rates. For the first cut to happen, the central bank must be confident that U.S. inflation is decreasing. And—heads up!—that's exactly what's happening. According to the latest reading, the rate of price increase has fallen from 3% to 2.9%.
Even if this isn’t enough to convince Jerome Powell to reduce the current rates from 5.25%-5.5%, the recent unemployment data might. Unemployment has risen from 4.1% to 4.3%. All signs point to the possibility that on September 18, the Fed will yield and cut rates. These cuts would likely lead to an increase in the value of assets such as stocks, cryptocurrencies, and gold.
Source: tradingeconomics.com
MetaMask Partners with Mastercard
MetaMask, in collaboration with Mastercard and Baanx, is launching a payment card. What's unique about this? The card will allow users to spend cryptocurrencies without banks. This innovative solution could drive further adoption in the market.
The card is currently available, but only in test version. To participate in the pilot, users need to check if they've been invited. To do this, simply open the MetaMask app. If there's a "Card" tab, click on it and complete account verification.
Source: MetaMask
Donald Trump Jr. Entering the Crypto Market?
Recently, Donald Trump's Bitcoin statements during his election campaign. Now, his son, Donald Trump Jr., wants to become a crypto enthusiast. He has admitted that he plans to enter the blockchain market.
What exactly does this involve? A project in the DeFi space. However, the details remain unclear. What we do know is that Trump Jr. aims to challenge banks and assist those who are financially excluded—those without access to banking services.
Source: X
Ripple Testing a Stablecoin
Ripple also has ambitious plans. The company is working on its own stablecoin, Ripple USD, with tests currently underway on the Ethereum network and the XRP Ledger.
What do we know about this project? The value of Ripple USD will be backed by short-term U.S. Treasury bonds and USD deposits. These reserves will be regularly audited by an external accounting firm.
The stablecoin will enter the market once Ripple secures the necessary regulatory approvals.
Source: Coindesk