OKX Launches the 9th Round of the Play and Win Strategy Trading, with a Total Prize Pool of 1 Million USDT

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

The development company behind Pump.fun, Baton Corporation, is hiring a Chief Legal Officer. Pump.fun founder Alon said that as the company scales, it needs a legal team aligned with its vision to mitigate key risks amid large-scale growth. The role will serve as a primary legal advisor alongside the General Counsel, overseeing regulatory affairs, product legal support, corporate governance, cross-border compliance, and other related matters. The base annual salary for the position is between $1 million and $5 million.

Ark Invest founder Cathie Wood noted in a post that during her roadshows across Asia and Europe, investors remain highly concerned about inflation. However, she argues inflation could decline sharply, driven by more than just falling oil prices. Measured by unit labor costs, U.S. year-over-year inflation has dropped to 0.5%. Wood emphasized that, as demonstrated in the 1980s and 1990s, productivity is a powerful tool against inflation. U.S. first-quarter productivity rose roughly 3% year-over-year, while hourly compensation increased 3.5% year-over-year, resulting in a "potential inflation" rate of 0.5%—meaning there is no cost-push inflation. Truflation, an index tracking real-time prices of thousands of consumer goods and services, has fallen from 11% year-over-year in 2022 to 1.8%, with core Truflation down to 1.4%. Drawing on five studies commissioned by Kevin Warsh, Wood believes Warsh not only grasps the role of productivity in curbing inflation but also recognizes the flaws in official government inflation metrics. While others anticipate interest rate hikes earlier than previously expected months ago, Warsh will deliver a masterclass on monetary policy to financial markets.