Cryptocurrency Live News & Updates : Stablecoin Demand Could Soar to Trillions
U.S. Treasury Deputy Secretary Michael Faulkender has forecasted that stablecoin demand may reach trillions of dollars, underscoring their increasing importance in finance. Recent developments in the cryptocurrency landscape highlight significant trends and market movements. U.S. Treasury Deputy Secretary Michael Faulkender has projected a surge in stablecoin demand, potentially reaching trillions, which emphasizes their growing role in the financial ecosystem. Meanwhile, U.S. Treasury Secretary Besent has advised against the removal of Federal Reserve Chair Jerome Powell, citing potential economic repercussions and the likelihood of interest rate cuts. In the crypto market, BNB has surpassed the 740 USDT mark with a 1.98% increase in just 24 hours, reflecting ongoing investor interest. Additionally, market makers for the ERA (Caldera) have been identified as GSR Markets and Amber Group, with Amber Group managing 2.5 million tokens. Lastly, a notable cryptocurrency whale has profited significantly from Ethereum transactions, accumulating 5,512 ETH since July 7, showcasing the dynamic nature of trading activities in the market. Together, these updates illustrate the evolving landscape of cryptocurrency and its intersection with traditional finance. Show more
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Economic Times
an hour ago
- Economic Times
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Gold prices saw a rise due to US trade tensions. President Trump imposed tariffs on goods from South Korea, India, and Brazil. This move created market uncertainty. Investors are turning to gold as a safe haven. The US economy grew, but the Federal Reserve is cautious. Tariffs may increase prices on imported goods. Investment markets could remain unstable. When global trade is uncertain, investors often feel anxious. During these times of unease, many turn to gold, a timeless "safe haven" for protecting wealth. Tired of too many ads? Remove Ads Why does gold matter here? Tired of too many ads? Remove Ads But isn't the US economy doing well? So, what does it mean for you? The new tariffs may raise the prices of some imported goods. Depending on where they come from, that could impact electronics, cars, or household items. Investment markets may stay shaky, especially if trade tensions continue. That could affect your retirement fund or stock investments. Gold just made a small comeback, and the reason may have something to do with rising tensions between the US and its global trading partners. On Thursday, July 31, the price of gold climbed to $3,308.83 per ounce, bouncing back after hitting a one-month silver dipped slightly, both metals have had a strong year, with gold up more than 35 per cent. That's a big deal for investors and for anyone watching the Trump announced a fresh wave of tariffs, basically extra taxes, on goods imported from several countries, including South Korea, India, and Brazil. These changes include a 15 per cent tariff on South Korean products, a 25 per cent tariff on Indian goods, and new rules for items like cheap imports also lost their previous exemptions. These moves shook up markets overnight, especially the copper market, which saw prices fall by nearly 20 per global trade becomes uncertain, investors get nervous. And when people are worried about where to put their money safely, many turn to gold, a classic "safe haven" during turbulent time is no different. Trump's tariff announcement sparked anxiety about the future of international trade and its impact on the economy. As a result, people started buying gold to protect their wealth, pushing its price US economy grew by 3 per cent in the second quarter, which was better than expected. Despite that, the Federal Reserve , America's central bank, has decided not to lower interest rates for now, saying it wants to see more data before making any changes. Inflation is also ticking up slightly, which adds to the becomes more attractive to investors, which usually signals a more cautious outlook for the global economy.
Mint
4 hours ago
- Mint
Dollar strong as Trump imposes new tariff rates; yen sinks to four-month low
TOKYO -The dollar headed for its best week in almost three years against its major peers, maintaining momentum on Friday after U.S. President Donald Trump set new tariff rates on dozens of trade partners. The yen touched a four-month low against the greenback, extending its steep decline from Thursday after the Bank of Japan signalled it was in no hurry to resume interest rate hikes. In trade-related moves, the U.S. currency gained ground on the Swiss franc after Trump set a 39% tariff rate on Swiss imports, up from the 31% he previously mooted. Canada's dollar dipped to a more than two-month trough after the country received a 35% levy instead of an earlier threatened 25%. The euro remained pinned near an almost two-month low, as it continues to be weighed down by what markets see as a lopsided trade agreement with Washington. The U.S. dollar stayed strong even though Trump continued his attacks on Federal Reserve Chair Jerome Powell overnight, calling him a "terrible" Fed Chair and calling his own decision to appoint Powell to the position a "mistake". Trump's repeated threats to fire Powell and calls for the Fed to drastically cut rates has put the central bank's independence in question, hurting the dollar in recent months. "In the short-term you can make the case for more dollar strength," said Mike Houlahan, director at Electus Financial in Auckland. "The lion's share of the tariff news has washed through." "The big move of the week has really been the euro getting rerated downwards," he said. "The net result would be the EU-U.S. trade deal is a further headwind for the euro." The U.S. dollar index - which measures the currency against a basket of six major peers including the euro, yen, Swiss franc and Canada's loonie - pushed as high as 100.10 overnight, topping 100 for the first time since May 29. The yen changed hands at 150.64 per dollar after dipping to 150.89 per dollar early on Friday, its weakest since March 28. The euro hovered around $1.1420, not straying far from Wednesday's low of $1.1401, a level not seen since June 10. The franc eased as much as 0.26% to 0.8120 per dollar. The loonie slipped 0.12% to plumb its lowest since May 22 at C$1.3872 versus its U.S. peer. This article was generated from an automated news agency feed without modifications to text.
Time of India
4 hours ago
- Time of India
Gold flat as dollar firms after US imposes fresh tariffs; jobs data in focus
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