Mt. Gox Pushes Repayment Deadline; PayPal's Stablecoin Now Available to Venmo Users

Mount Gox, creditors have to wait a little longer and a stable coin debuts on Venmo. You're watching Coin Desk daily. I'm your host, Jen Senai. Let's take a look at the markets. Bitcoin is struggling to gain upside traction even after defunct crypto exchange, Mount Gox delayed its pending Bitcoin bankruptcy repayments by a year. The deadline has now been pushed out to October 31st 2024 removing supply overhang concerns for the time being. Meanwhile, the Federal Reserve kept its benchmark lending rate at a 22 year high central bank leader Jerome Powell said in a press conference that the fed will do more rate hikes if the economy remains stronger than expected. Take a listen, we're prepared to raise rates further if appropriate. And we intend to hold policy at a restrictive level until we're confident that inflation is moving down, sustainably toward our objective. The Federal Open Market Committee's next key rate decision is set for the start of November. Grayscale Investments has filed paperwork with the SEC for an Ether futures ETF. This comes after the company won a suit against the SEC last month challenging the agency's decision to block Grayscale from converting its Bitcoin Trust into a spot. Bitcoin. ETF the SEC has already approved Bitcoin futures ETF S which allow investors to bet on the future price of the world's largest Cryptocurrency by market cap, Grayscale and coin desk are both owned by DC G and a new stable coin is coming to Venmo soon, all Venmo users will be able to purchase paypal Stable coin. Py US D. In its announcement, paypal said that this would be the first time users would be able to send stable coins to each other with no cost. Although sending from Venmo to a different crypto wallet would incur fees. Paypal is the parent company of Venmo. That's a wrap for coindesk daily. Get more updates on coindesk dot com and we'll see you next time.