Planet Daily Federal Reserve Dot Plot Suggests Four Rate Cuts by 2025 Trump Hopes All Remaining Bitcoins Will Be Manufactured in the United States June 13

Top News
Federal Reserve Dot Plot Suggests Four Rate Cuts in 2025
The Federal Reserve dot plot suggests four rate cuts in 2025 (with three expected in March).
Trump: Hopes All Remaining Bitcoin Is Made in the USA
Former US President Trump posted on Truth Social stating that Bitcoin mining may be the final line of defense against CBDCs. He hopes all remaining Bitcoin is made in the USA, which would help the US dominate the energy sector.
US May Core CPI Rate 3.3%, Expected 3.40%, Previous 3.40%
The US May core CPI rate was 3.3%, lower than the expected 3.40%, with the previous rate also at 3.40%. The US May seasonally adjusted core CPI rate was 0.2%, expected 0.30%, previous 0.30%. The US May core CPI rate was 3.4%, expected 3.50%, with the previous rate at 3.60%. The US May seasonally adjusted CPI rate was 0%, expected 0.10%, with the previous rate at 0.30%.
Industry News
Market News: Federal Reserve Dot Plot May Have Been Voted Through, Two Rate Cuts Likely This Year
Cfra’s Chief Investment Strategist, Sam Stovall, mentioned that unexpectedly low inflation led to rising futures prices and a significant drop in the 10-year US Treasury yield. This is likely to benefit the Federal Reserve. The dot plot may have been voted through by now, with two rate cuts expected in 2024 instead of one. However, they still believe that by mid-2026, there will be a 25 basis points rate cut each quarter. Inflation data allows investors to be more optimistic about the possibility of lower rates by the end of the year. As a result, risk assets surged, and growth sectors showed strong performance in the first hour of trading.
Tether CEO: Plans to Launch New Type of Digital Asset Product on June 17th
Tether CEO Paolo Ardoino announced on the X platform that after a year of effort, Tether will launch a new type of digital asset product on June 17th.
Trump: Hopes All Remaining Bitcoin Is Made in the USA
Former US President Trump on Truth Social stated that Bitcoin mining may be the final line of defense against CBDCs. He hopes that all remaining Bitcoin is made in the USA, which would help the US dominate the energy sector.
10x Research: Bitcoin Could Hit All-Time High if It Breaks $72,000
In its latest market analysis report, 10x Research stated that tonight’s double macro events, CPI and FOMC, seem unpredictable after last week’s higher-than-expected US job data, causing most Wall Street banks to delay their initial rate cut expectations until September or later. While the rate-sensitive Nasdaq continued to hit new highs, Bitcoin dropped from $71,000 to $67,000. If the price climbs above $72,000, it could reach a new high. However, over-allocating to Ethereum (leveraged) futures could have a negative impact on Bitcoin, as Bitcoin is more favored than Ethereum (BTC dropped 5% last week, ETH dropped 9%). SEC Chairman Gary Gensler’s comment on the approval of the Ethereum ETF S-1 seems more likely to start unwinding leveraged long positions rather than repricing Wall Street’s rate expectations. Enthusiasm around the Ethereum ETF has significantly decreased, with the ETH/BTC exchange rate continuing to decline.
Matrixport: Ethereum May Underperform Again
Matrixport’s analysis stated that since the merger of PoW and PoS chains in September 2022, the ETH/BTC exchange rate has been clearly declining. Although Ethereum occasionally briefly surpasses Bitcoin, it has not been sustained. With the exchange rate approaching the top of the downward channel, Ethereum may underperform again.
US Core CPI Falls to Three-Year Low, Traders Expect Increased Likelihood of Fed Rate Cut
The US May core CPI rate recorded 3.4%, below the expected level of 3.5%, marking the lowest level since April 2021. Traders expect an increased likelihood of a Fed rate cut.
Market Expects 100% Probability of Fed Rate Cut of 25 Basis Points in November
Swap contracts indicate that the market expects a 100% probability of a 25 basis points Fed rate cut in November.
Project News
DWF Labs Alliance: Launching a Fund Focused on Specific Project Areas
DWF Labs’ Andrei Grachev announced on the X platform that after months of effort, planning, and strategic determination, they will launch a fund focused on specific project areas.
Solana Labs Introduces Customer Loyalty Platform Bond
Solana Labs, the development company behind Solana, has launched a customer loyalty platform called Bond for enterprises looking to launch loyalty programs on the blockchain. This platform is Solana Labs’ third product to be listed, alongside GameShift and Solana Mobile, which helps game developers create Web3 games. The latter is currently accepting pre-orders for its second-generation Solana integrated smartphone.
Ethereum Beacon Chain Staking Total Surpasses 33 Million ETH, Staking Rate at 27.55%
Data from Dune shows that the Ethereum Beacon Chain staking total has surpassed 33 million ETH, reaching 33,019,764 ETH, with 1,031,868 validators and staked ETH accounting for 27.55% of the total supply. The staking share of the liquidity staking protocol Lido is 28.76%.
Sushi DAO to Continue Operations, Sushi Labs Focused on Driving Rapid Product Innovation
According to official information, Sushi provided further clarification on recent developments: Sushi DAO will continue to operate in a decentralized manner. The Sushi DAO has not been replaced or dissolved and will continue to operate, playing a crucial role in governance and decision-making. Sushi Protocol remains permissionless, with its services fully open to the public. Sushi Bar revenue distribution continues to be allocated to the bar, where xSUSHI holders have the right to share a portion of platform transaction fees. Sushi Labs aims to build better products faster for users. Sushi Labs complements Sushi DAO, driving faster and more efficient development to help Sushi maintain its leading position in the competitive DeFi space. While Sushi Labs will drive innovation, governance and decision-making processes will remain decentralized. The new governance structure includes a committee to ensure community engagement and transparency. Sushi has adopted a board structure to enable the community to effectively manage resources. The new structure includes four committees: Sushi High Kitchen, Treasury Council, Grants Council, and Ambassador Council.
Ripple CEO: Ripple’s New Stablecoin Named RLUSD
At the XRP Ledger Community Summit in Amsterdam, Ripple’s CEO Brad Garlinghouse revealed that Ripple’s new stablecoin is named RLUSD.
Wormhole: Stake for Governance Currently Supports EVM Chains Only
According to official information, while the Stake for Governance feature utilizes the MultiGov multi-chain governance system, it currently only supports EVM chains (Ethereum, Arbitrum, Optimism, Base). Support for Solana will be added later. Therefore, current users looking to participate in W staking governance must transfer W on Solana to any supported EVM chain through Wormhole NTT. Users need to follow the instructions on the Wormhole governance portal to complete the transfer or use the Portal Bridge to transfer W to a supported EVM chain in advance.
Security Risk
SafePal CEO and Co-Founder X Account Hacked, Do Not Interact with It
SafePal posted on X stating that its CEO and co-founder’s X account (@V_SafePal) has been hacked. All other channels and platforms remain secure, and operations are unaffected. Do not interact with any posts or messages from that account until access is regained. The X team has been notified and will provide updates upon restoration of access.