00:00Will the Fed hold interest rates and gold rallies to new highs?
00:05I'm your host, Jen Sinassi.
00:07The Federal Reserve is widely expected to hold interest rates.
00:10Steady on Wednesday, but the real fireworks might come from Chair Powell's press conference.
00:15AME FedWatch toll pricing and a 97% chance of a pause in rate cuts.
00:19Traders are focused on...
00:20Whether Powell will push back against President Trump's controversial new affordability measures.
00:25Trump recently directed the government to buy $200 billion in mortgage bonds to lower rates.
00:30A move critics say could reignite inflation.
00:33Lastly, Powell might face questions.
00:35About the DOJ investigation targeting him personally, which he claims to be political vengeance.
00:40For not slashing rates fast enough.
00:42Gold has rallied 80% in the last year as the precious...
00:45...that'll surge to an all-time high above $5,000.
00:47But Orlean CEO Bjorn...
00:50...Warns that most investors are buying a hidden threat.
00:53In an interview with Coindex...
00:55...Schmidtke argued that 98% of gold exposure is essentially unallocated...
01:00...IOUs with no specific bar attached.
01:02He warns that a seismic event...
01:05...or currency collapse could break the delivery mechanism...
01:07...leaving ETF holders with nothing but...
01:10...paper while physical prices soar.
01:12The firm's solution is to overhaul its treasury to hold...
01:15...XAUT, which is backed by specific allocated bars in Swiss vaults.
01:19Schmidtke calls...
01:20...this durable ownership, ensuring that even in a crisis...
01:23...the deed to the metal remains traceable...
01:25...on-chain.
01:26And Bitcoin's hash rate fell about 10% during a U.S. winter storm...
01:30...as the natural disaster offers a real-time stress test...
01:33...of the network's mining central...
01:35...over the past two years...
01:37...the top two mining pools have often controlled more than 50%...
01:40...of Bitcoin's hash rate...
01:41...while the top six pools have consistently accounted...
01:43...for roughly 80% to 90%...
01:45...of all blocks, leaving much of the network's transaction processing...
01:48...in the hands of a few...
01:50...operators.
01:51The crypto market appears unfazed for now...
01:53...as Bitcoin continues to trade below 88%.
01:55However, the incident highlights how the Bitcoin blockchain's...
01:58...growing mining concentration...
02:00...can turn local weather events into system-wide risks.
02:03That's it for Coindesk Daily.
02:04Get more updates...
02:05...on Coindesk.com and we'll see you next time.
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