Key Trends: Jobs Data and Crypto Innovations
Coinbase launched Agent Wallets, an AI-powered solution that blends smart technology with digital asset management for enhanced user experience.
US nonfarm payrolls rose by 130,000 in January, beating the expected 185,000, showcasing the economy's strength.
Traders now expect a Fed rate cut in July, pushing back earlier assumptions for a June move amid shifting economic signals.
Former President Trump praised the jobs report and urged the Fed to slash rates to the 'lowest in the world.'
White House economic advisor Hasset stated the Fed still has significant room to cut rates and support growth.
SEC Chair testified in Congress, pushing for streamlined disclosures, lower compliance costs, and a clearer regulatory framework for crypto.
A major crypto investor noted that 5% to 10% of Bitcoin could eventually shift into privacy-focused crypto assets.