News

Jinse Finance reported that Tether is launching USAT, a US dollar-backed stablecoin planned to be issued under the US regulatory framework, and has appointed Bo Hines as the future CEO of Tether USAT. USAT will strictly adhere to the regulatory standards of the US GENIUS Act, be backed by transparent reserves, and is designed to provide businesses and institutions with a digital alternative to cash and traditional payment systems. The stablecoin will utilize Tether's Hadron technology platform, with Anchorage Digital, a federally regulated crypto bank, serving as the compliant issuer, and Cantor Fitzgerald as the designated reserve custodian. Tether CEO Paolo Ardoino stated that the launch of USAT is a natural step to ensure the US dollar maintains its dominance in the digital era. Bo Hines previously served as Executive Director of the White House Crypto Committee and possesses expertise in law, business, and policy.

Jinse Finance reported that Deutsche Bank stated it expects the Federal Reserve to cut interest rates by 25 basis points at each of the remaining three meetings this year, which is an adjustment from the previous forecast of rate cuts in September and December.