📉 It seems that the US might be heading into a recession. The stock market tumbled, and Bitcoin wasn't spared initially, dipping to around $62,350. However, I believe this situation could benefit Bitcoin in the long run.

The weaker USD, spurred by poor job numbers and rising unemployment, means that Bitcoin could break away from traditional market trends.

Unlike stocks, Bitcoin’s value isn't tied to earnings but to liquidity. If the Fed cuts interest rates as expected, we might see a boost for Bitcoin as a fixed-supply asset.

💡In unstable times, Bitcoin can be that powerful force everyone hopes for. So, while the short-term may look shaky, I think the long-term prospects for Bitcoin remain promising.

💵 Tether CEO announces the launch of a new product

Tether CEO Paolo Ardoino announced the launch of a new product by the issuer of the USDT stablecoin. The developing service will become one of the key components of the firm's "futuristic ecosystem," the businessman stated.

According to him, the product will use open-source code. However, Ardoino did not go into details or provide any launch timelines.

Users online speculate that it might involve a partnership with Holepunch. Another part of the community mentioned potential cooperation between the Lightning Network and the USDT issuer.

✔️ BNP Paribas Launches Slovenia's Blockchain Bond

Slovenia made history by issuing the first sovereign digital bonds in the eurozone using the Canton blockchain platform for blockchain settlement.

💸 Slovenia issued the first sovereign digital bonds in the eurozone as part of an on-chain transaction organized by the French banking giant BNP Paribas, utilizing the tokenized money solution from the Bank of France.

The digital bond from Slovenia was issued using BNP Paribas' Neobonds platform, which operates on the Canton blockchain.

"BNP Paribas is committed to contributing to wholesale digital settlement solutions led by the Eurosystem, which will make bond settlements more efficient and secure," said Frédéric Zorzi, Global Head of Primary Markets at BNP Paribas CIB.

BNP Paribas reports that Neobonds recorded legal ownership of the digital bonds, allowing network participants to manage the operational structure for issuing and trading bonds on secondary markets.

The bond, with a nominal value of €30 million, carries a 3.65% coupon and matures on November 25.

🇺🇸 Donald Trump on Bitcoin 2024:

1️⃣ Trump believes that Bitcoin will one day surpass the market capitalization of gold.

2️⃣ Trump reaffirmed his previous intentions to make the US a more favorable jurisdiction for crypto business. If we don’t do this (regarding Bitcoin and the US) — China will.

3️⃣ The US will become the cryptocurrency capital of the world and the global Bitcoin superpower.

4️⃣ Trump promised to fire SEC Chairman Gary Gensler.

5️⃣ If Kamala Harris becomes president — she will crush Bitcoin. She doesn’t understand anything about it.

6️⃣ The digital dollar (CBDC) is evil. There will be no CBDC while I am president.

7️⃣ When wars cease, cryptocurrencies will soar to unprecedented heights.

8️⃣ Trump promised not to sell the BTC held on the US balance sheet.

💸 US Presidential Candidate Robert F. Kennedy Jr. Calls for Federal Government to Purchase Bitcoins Until Cryptocurrency Reserves Equal Gold Holdings

The US government is the largest holder of gold, possessing 8,134 tons ($615 billion). At current prices, this is equivalent to 9.4 million BTC, or nearly 45% of the supply.

"I would like the federal government to start buying bitcoins and ultimately have an equivalent amount of bitcoins equal to gold during my time in office," said Kennedy.