PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits
High U.S. Treasury interest rates are a powerful short-term motivator. Everything else is theory.
Interest Rates
U.S. Added 187K Jobs in July, Missing Estimates for 200K, Bitcoin Slips to $29,100
The unemployment rate TKTK to 3.X% versus estimates for 3.6%.
Federal Reserve Hikes Fed Funds Rate by 25 Basis Points
The move was fully anticipated by market participants who will now look to Chairman Jerome Powell’s imminent post-meeting press conference for clues about whether the central bank intends to continue tightening monetary policy.
Bitcoin Is Benefiting From Crypto’s Flight to Quality: Matrixport
Investors are shifting into bitcoin from stablecoins as well as more volatile cryptocurrencies, the report said.
Bitcoin Slips to 3-Week Low as Market Sees Federal Reserve Lifting Rates to 5.65%
The Fed funds futures show traders pricing in a higher-for-longer interest rates mantra by the Fed.