00:00Will the Fed hold interest rates and gold rallies to new highs?
00:05For Ask Daily, I'm your host, Jen Sinassi.
00:10The Federal Reserve is widely expected.
00:15To hold interest rates steady on Wednesday, but the real fireworks might come from Chair Powell's press conference.
00:20With the CME FedWatch toll pricing and a 97% chance of a pause in rate cuts.
00:25Traders are focused on whether Powell will push back against President Trump's controversial new affordability.
00:30Trump recently directed the government to buy $200 billion in mortgage bonds.
00:35To lower rates, a move critics say could reignite inflation.
00:39Lastly, Powell might.
00:40Might face questions about the DOJ investigation targeting him personally, which he claims to be.
00:45Political vengeance for not slashing rates fast enough.
00:48Gold has rallied 80% in the last.
00:50Last year, as the precious metal surged to an all-time high above $5,000.
00:53But early on...
00:55CEO Bjorn Schmidtke warns that most investors are buying a hidden threat.
01:00In an interview with Coindesk, Schmidtke argued that 98% of gold exposure is essentially...
01:05...unallocated IOUs with no specific bar attached.
01:08He warns that...
01:10A seismic event or currency collapse could break the delivery mechanism, leaving ETF holders...
01:15...with nothing but paper, while physical prices soar.
01:18The firm's solution is to overhaul its...
01:20...to hold XAUT, which is backed by specific allocated bars in Swiss vaults.
01:25Schmidtke calls this durable ownership, ensuring that even in a crisis, the deed to the metal...
01:30...remains traceable on-chain.
01:32And Bitcoin's hash rate fell about 10% during a...
01:35...U.S. winter storm as the natural disaster offers a real-time stress test of the network...
01:40...mining centralization.
01:41Over the past two years, the top two mining pools have often controlled...
01:45...more than 50% of Bitcoin's hash rate, while the top six pools have consistently accounted for...
01:50...roughly 80% to 90% of all blocks, leaving much of the network's transaction processing in the...
01:55...hands of a few operators.
01:56The crypto market appears unfazed for now, as Bitcoin continues to trade...
02:00...below $88,000.
02:01However, the incident highlights how the Bitcoin blockchain is growing...
02:05...the mining concentration can turn local weather events into system-wide risks.
02:09That's it for CoinDesk.
02:10Go to CoinDesk Daily, get more updates on CoinDesk.com and we'll see you next time.
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