Nine Out of 18 FOMC Members Anticipate Interest Rate Hikes This Year
The Federal Reserve (Fed) maintained its benchmark interest rate, but hinted at potential rate increases later this year, causing Bitcoin (BTC) prices to dip to around 64,000 USD.
As of 9:15 a.m. (Korean time) on Thursday, the South Korean Bitcoin price on Bithumb fell 0.53% to 97.33 million KRW (approximately 63,950 USD).
Simultaneously, CoinMarketCap reported that the global Bitcoin price dropped 1.72% to 64,534 USD. The cryptocurrency briefly traded around $66,000 earlier in the morning before reversing course.
Analysts attribute this decline to the Fed’s decision to hold interest rates steady while signaling a hawkish monetary policy stance.
On Wednesday, the Fed concluded its Federal Open Market Committee (FOMC) meeting, opting to keep the interest rate at 3.50% to 3.75% annually.
However, the published dot plot revealed that among the 18 members who provided future interest rate projections, 9 anticipated a rate hike this year, while 8 expected rates to remain unchanged. Only one member predicted a rate cut.
Consequently, market observers suggest that the Fed has effectively dampened expectations for interest rate cuts this year, while leaving the door open for further rate increases if necessary.
Following the meeting, the Fed also removed language hinting at possible rate cuts from its statement, adding the phrase that it will achieve price stability.
Kentucky Sues Calci and Polymarket for Unlicensed Sports Betting Operations
The state of Kentucky has filed a lawsuit against prediction market platforms Calci and Polymarket.
According to CoinDesk on Wednesday, Kentucky Attorney General Russell Coleman initiated legal action, alleging that Calci and Polymarket offered contracts for sports-related events without state government approval.
Kentucky argues that these prediction market platforms essentially operate as sports betting services without the required licenses.
The state also criticized related service providers, including Coinbase and Robinhood, for failing to establish systems to prevent and support gambling addiction.
FIFA Implements Avalanche Blockchain to Combat World Cup Ticket Scalping
The International Football Federation (FIFA) has introduced a ticketing system using Avalanche blockchain technology to fight ticket scalping and fraud for the 2026 North American World Cup.
CoinDesk reported on Wednesday that FIFA’s Web3 digital collectibles platform, FIFA Collect, is operating the new ticketing system in partnership with Avalanche and digital asset arbitrage platform Modex.
This system assigns two types of rights to tickets: the Right to Buy (RTB) and the Right to Receive Tickets (RTT). Users can acquire the Right to Buy on FIFA Collect or trade it in the secondary market, which can then be converted into the Right to Receive Tickets for purchasing actual game tickets.
FIFA expects this system to curb bot purchases, ticket fraud, and excessive markup transactions.
Fidelity Launches Money Market Fund for Stablecoin Reserves
American asset management giant Fidelity is set to launch a money market fund (MMF) designed to manage reserves for stablecoin issuers.
CoinDesk reported on Wednesday that Fidelity plans to unveil the Fidelity Reserves Digital Fund on Thursday.
This product is tailored as an MMF to help stablecoin issuers manage their reserves safely.
Recently, State Street also launched a similar product, the State Street Stablecoin Reserve Money Market Fund (SSCXX), intensifying competition among traditional financial firms to capture this emerging market.,