Salvadoran President Meets with White House Digital Asset Policy Advisor Bo Hines to Discuss Bitcoin and Digital Asset Collaboration

On June 6th, US President Trump posted on social media, stating, "The United States is currently in a state of heat! Six months ago, it was as cold as ice! The border is closed, and prices are declining while wages are increasing!"

June 6th. As per Fortune magazine, the crypto industry has been in the pursuit of a "killer app" to successfully bring blockchain into the mainstream financial sector. And it seems that stablecoins might just be the answer they have been longing for. A stablecoin is a digital token that is pegged to a fiat currency like the US dollar. Banks and fintech companies are quickly adopting this technology. Now, even major tech companies are showing interest in getting involved. According to sources with knowledge of the matter, Apple, X (formerly Twitter), Airbnb, and Google are all in the initial stages of discussions with crypto companies to figure out how to incorporate stablecoins. These sources, who spoke to Fortune magazine on a condition of anonymity, said that these tech companies believe that using stablecoins can lower transaction costs and simplify cross-border payment processes. Not only these four companies but Meta (formerly Facebook) has also once again entered

On June 6th, analysts from institutions gave their comments on the US non-farm payroll report. They stated, "Positive wage data in the US may further lower expectations of rate cuts and have a negative impact on the front end of the yield curve. Overall, we believe that the employment data has reinforced our view of the Fed's 'holding the line' - at least until the fourth quarter of this year." The analysts pointed out that the slight rise in wages, coupled with the stable 4.2% unemployment rate, clearly indicates that the Fed will remain on hold. As a result, the probability of a Fed rate cut in September, which was fully priced in earlier this week, has dropped to around 75%. (FXStreet)

On June 6th, the UK Financial Conduct Authority (FCA) declared the removal of the ban on Exchange-Traded Notes (ETNs) in order to promote growth and competitiveness in the UK. (FXStreet)

On June 6th, an analyst from the "New York Times" stated that the employment report had reinforced the Federal Reserve's cautious attitude towards further interest rate cuts. The Fed is almost certain to once again decide not to cut interest rates at the meeting later this month (June 18). (FXStreet)

On June 6th, a senior official from the White House stated that Trump is giving thought to either selling or presenting away the red Tesla which he purchased earlier this year. Trump acquired the vehicle with the intention of promoting Musk's business within the White House. As of Thursday evening, the car remained parked outside the West Wing of the White House. (Golden Finance)