U.S. employment growth in March exceeded expectations.
The United States announced the non-farm payroll data for March, with the employment population rising by 228,000, exceeding the expected 135,000; the unemployment rate was recorded at 4.2%, higher than the expected 4.1%. -Original
2, The probability of the Federal Reserve cutting interest rates in May has risen to 43.3%.
According to CME's "FedWatch" data, the probability of the Federal Reserve cutting interest rates by 25 basis points in May is 43.3%, up from 39.9% before the non-farm payroll data was released, while the probability of keeping the interest rate unchanged is 56.7%. The probability of the Federal Reserve maintaining the interest rate until June is 0, with a cumulative probability of a 25 basis point cut at 52.1%, a cumulative probability of a 50 basis point cut at 44.3%, and a cumulative probability of a 75 basis point cut at 3.5%. -Original text
Trump calls on the Federal Reserve to lower interest rates as soon as possible.
Trump calls on Federal Reserve Chairman Powell to cut interest rates as soon as possible, stating that now is the best time to lower rates, and believes Powell "always moves too slowly," urging Powell to "stop the political manipulation." -Original text
The SEC clarifies that most stablecoins are not securities.
The U.S. Securities and Exchange Commission stated that regulated dollar stablecoins (mainly USDT and USDC) are not securities, and those involved in the "minting" and redemption of these stablecoins do not need to register transactions with the Commission. The U.S. Securities and Exchange Commission stated that regulated stablecoins "maintain a stable value relative to the dollar" and are backed by reserves, which is how the two major stablecoin issuers, Tether and Circle, operate.
Powell says progress on inflation target has slowed.
Federal Reserve Chairman Powell delivered a speech on the economic outlook, stating that recently, our progress toward the 2% inflation target has slowed. Over the 12 months ending in February, the PCE price index rose by 2.5%. Excluding the more volatile food and energy categories, the core PCE price index rose by 2.8%. Looking ahead, higher tariffs will play a role in our economy and may raise inflation in the coming quarters. Most indicators show that long-term inflation expectations (inflation expectations for the coming years) remain well anchored and are consistent with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to the 2% target.
Bakkt faces a collective lawsuit from investors
The American cryptocurrency custody and trading platform Bakkt has been collectively sued by investors, accusing it of making false or misleading statements without adequately disclosing its revenue's heavy reliance on key clients such as Webull. The lawsuit was led by investor Guy Serge A. Franklin and was filed on April 2 in the Southern District of New York federal court, seeking a jury trial. The plaintiffs claim that Webull contributed 74% of Bakkt's cryptocurrency services revenue from 2023 to 2024, while Bank of America accounted for 17% of its loyalty services revenue in the first three quarters of 2024. The termination of the collaboration between the two companies would lead to a 73% plunge in the company's overall revenue. The defendants also include the company's former CEO Gavin Michael, current CEO Andrew Main, and interim CFO Karen Alexander. Investors believe that Bakkt failed to timely disclose the risks associated with the termination of contracts with key clients, violating U.S. securities laws and causing significant losses.
The total value locked in DeFi has fallen below $95 billion.
US stock market opens with Nasdaq down over 493 points.
The above is a selection of hot topics in the past 24 hours. For faster news, please download AiCoin (aicoin.com)
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AiCoin Daily Report (April 5)
The United States announced the non-farm payroll data for March, with the employment population rising by 228,000, exceeding the expected 135,000; the unemployment rate was recorded at 4.2%, higher than the expected 4.1%. -Original
2, The probability of the Federal Reserve cutting interest rates in May has risen to 43.3%.
According to CME's "FedWatch" data, the probability of the Federal Reserve cutting interest rates by 25 basis points in May is 43.3%, up from 39.9% before the non-farm payroll data was released, while the probability of keeping the interest rate unchanged is 56.7%. The probability of the Federal Reserve maintaining the interest rate until June is 0, with a cumulative probability of a 25 basis point cut at 52.1%, a cumulative probability of a 50 basis point cut at 44.3%, and a cumulative probability of a 75 basis point cut at 3.5%. -Original text
Trump calls on Federal Reserve Chairman Powell to cut interest rates as soon as possible, stating that now is the best time to lower rates, and believes Powell "always moves too slowly," urging Powell to "stop the political manipulation." -Original text
The U.S. Securities and Exchange Commission stated that regulated dollar stablecoins (mainly USDT and USDC) are not securities, and those involved in the "minting" and redemption of these stablecoins do not need to register transactions with the Commission. The U.S. Securities and Exchange Commission stated that regulated stablecoins "maintain a stable value relative to the dollar" and are backed by reserves, which is how the two major stablecoin issuers, Tether and Circle, operate.
Federal Reserve Chairman Powell delivered a speech on the economic outlook, stating that recently, our progress toward the 2% inflation target has slowed. Over the 12 months ending in February, the PCE price index rose by 2.5%. Excluding the more volatile food and energy categories, the core PCE price index rose by 2.8%. Looking ahead, higher tariffs will play a role in our economy and may raise inflation in the coming quarters. Most indicators show that long-term inflation expectations (inflation expectations for the coming years) remain well anchored and are consistent with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to the 2% target.
The American cryptocurrency custody and trading platform Bakkt has been collectively sued by investors, accusing it of making false or misleading statements without adequately disclosing its revenue's heavy reliance on key clients such as Webull. The lawsuit was led by investor Guy Serge A. Franklin and was filed on April 2 in the Southern District of New York federal court, seeking a jury trial. The plaintiffs claim that Webull contributed 74% of Bakkt's cryptocurrency services revenue from 2023 to 2024, while Bank of America accounted for 17% of its loyalty services revenue in the first three quarters of 2024. The termination of the collaboration between the two companies would lead to a 73% plunge in the company's overall revenue. The defendants also include the company's former CEO Gavin Michael, current CEO Andrew Main, and interim CFO Karen Alexander. Investors believe that Bakkt failed to timely disclose the risks associated with the termination of contracts with key clients, violating U.S. securities laws and causing significant losses.
The total value locked in DeFi has fallen below $95 billion.
US stock market opens with Nasdaq down over 493 points.
The above is a selection of hot topics in the past 24 hours. For faster news, please download AiCoin (aicoin.com)