U.S. Inflation Cools Down in June; Trump to Speak at Bitcoin Conference in Nashville

Inflation continues to retreat and Trump to speak at a Bitcoin conference later this month. You're watching Coin Desk daily. I'm your host, Jen Sani. Inflation continued to retreat in June. That's according to the government's consumer price index report on Thursday morning. Data from the US Bureau of Labor statistics shows the June rate coming in at a negative 0.1% pace against forecasts for gain of 0.1% and May's 0% read on a year over year basis. The CPA was higher by 3% versus expectations for 3.1 and 3.3% in May. The price of Bitcoin jumped in the minutes following the report as of 10 a.m. eastern time. The leading Cryptocurrency by market cap is trading at $58,600 up 1.5% on the day. Former US President Donald Trump is set to speak at the upcoming Bitcoin conference in Nashville, Tennessee. That's according to an announcement from the conference organizer, a spokesperson told Coindesk that the presumptive Republican nominee will be speaking at 2 p.m. central time for 30 minutes on the last day of the conference which runs from July 25th to 27th. Trump has shown an embrace of digital assets since coming out in favor of the industry at his NFT Gala this spring, he has then incorporated Pro Bitcoin policies into the core Republican Party platform. Casting a strong contrast with the Biden administration and A V CEO and founder, Kathy Wood defended the company's strategy in a letter to investors stating that things will take a turn once interest rates fall. Wood first acknowledged the firm's recent underperformance due to the macro environment and some stock picks. But she stressed quote, our conviction in and commitment to investing in disruptive innovation have not wavered and quote. The Arc Innovation ETF Fund has been on a rocky road since reaching its all time high in 2021 Arc's top investments as of May 31st were Tesla Coinbase and Roku. According to LSEG data as of 10 a.m. Eastern time, the A RKK Fund is trading above $47. That's it for coin desk daily. Get more updates on coindesk.com and we'll see you next time.