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- 💥 Gate Square Event: #PostToWinPORTALS# 💥
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👉 https://www.gate.com/announcements/articl - 🌕 Gate Square · Creator Incentive Program Day 10 Topic– #Fed Cuts Rates By 25 Bps# !
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🔥 Day 10 Hot Topic: Fed Cuts Rates By 25 Bps
The Fed lowered its benchmark rate by 25 basis points to 4.00%–4.25%, in line with market expectations. This marks the restart of the rate-cut cycle since the pause last December. Lower rates often boost liquidity and risk appetite, which could be - 🚀 Gate Square Newbie Village · Episode 1 ✖️ @Ryakpanda Community
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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas, - 🌕 Gate Square · Mid-Autumn Creator Incentive Program is Now Live!
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The Head of the US Treasury is Now Crypto Friendly: What Had Promised? - Coin Bulletin
The new Treasury Secretary of the United States is crypto-friendly Scott Bessent.
The US Senate has approved Scott Bessent, who is known for his positive view of the cryptocurrency sector, as the new Treasury Secretary. Bessent will replace Janet Yellen. In the Senate vote on Monday, Bessent was appointed with 68 votes in favor and 29 against.
Last November, former President Trump nominated billionaire hedge fund manager Bessent as head of the Treasury Department. Bessent had previously expressed positive views on cryptocurrencies, stating that crypto was about freedom and that the crypto economy had a "permanent" structure.
Bessent has also opposed the idea of central bank digital currency (CBDC) issuance and stated that the US does not need such a currency. Bessent stated, "In my opinion, central bank digital currency is for countries without other investment alternatives".
As the Treasury Secretary, Bessent is expected to be part of the "Digital Asset Markets Presidential Working Group" created by an executive order signed by Trump last week.
This working group will work to develop a federal regulatory framework for digital assets, including stablecoins, and evaluate the creation of a "strategic national digital asset stockpile".
Bessent also said he would sell $700 million worth of Bitcoins to prevent conflicts of interest.
Ripple CEO congratulated
Ripple CEO Brad Garlinghouse, in a post on the X ( old Twitter) platform, congratulated Scott Bessent, the new Treasury Secretary, and expressed his belief that he will implement sensible economic policies by working with the administration and Congress to promote technology and crypto innovation in the United States.
Meanwhile, Reuters reported that Bessent is a "strong advocate" of Trump's agenda of cutting taxes and implementing high tariffs, while opposing criticisms that Trump's economic policies would worsen inflation, arguing that the administration's efforts to increase oil production will control inflation.