Trump-Linked Website Is Selling 'Bitcoin Sneakers;' Tether Reports Record Net Profits This Year

A Trump linked website is selling crypto sneakers and tether reported record profits. You're watching coin desk daily. I'm your host, Jen Sani presidential candidate Donald Trump has already shown his support for Bitcoin, but he reiterated the message with a new line of merch. A Trump linked website is offering several ranges of Bitcoin themed sneakers with prices as high as $500 a pair. There are just 1000 pairs of the bright orange version and they've already sold out. Some preorder purchases are already being advertised on ebay for a high is $2500. The site mentions that it has nothing to do with Trump's political campaign and says the sneakers are not designed sold or manufactured by Trump or related associates. And as expected, the Federal Reserve has kept its benchmark fed funds rate range unchanged at 5.25 to 5.5%. Central bank wrote in its policy statement that inflation has eased over the past year but remains somewhat elevated at his post meeting. Press conference chairman Jerome Powell indicated the central bank was moved closer to the point where it might cut rates. The price of Bitcoin edged lower in the minutes following the more hawkish than expected statement as of story time, the lead in Cryptocurrency by market cap is trading down below $65,000 down 3% on the day. And stablecoin issuer, Tether reported a record $5.2 billion of net profits in the first half of 2024. As US TT S market cap surged to new all time highs. The company said it generated $1.3 billion of net operating profits over the second quarter of the year. A part of those profits were reinvested in strategic projects. The increase in net profits comes as the flagship US DT saw its market value jump to 100 and $14 billion from 91 billion earlier this year. That's according to data from coin gecko. That's it for coin desk daily, get more updates on Coin desk.com and we'll see you next time.