Kevin Warsh's First Fed Meeting Could Move Bitcoin | CoinDesk Daily

**Jennifer Sanasie** (0:00)
Kevin Warsh takes charge of his first Fed meeting, and Ripple makes a big bet on Africa. This is CoinDesk Daily.
The Federal Reserve is expected to hold interest rates steady today, and it's going to be Kevin Warsh's first FOMC meeting running the central bank. Markets will be scanning the dot plot, the policy statement, and Warsh's press conference for queues. The CME FedWatch tool currently predicts a 60% chance of a rate increase by December, so anything more dovish than that could send Bitcoin higher. A bipartisan group of senators says states are getting cut out of the new stablecoin rules. The Genius Act is being written into regulations across federal agencies, including the Treasury, in a letter led by Senator Cynthia Lummis. The lawmakers argue Treasury's proposed framework never spelled out how states can certify that their oversight matches federal standards. And Ripple is making a bet on Africa with investments in Flutterwave, one of the continent's largest payments firms. The funding round values Flutterwave at $3.2 billion.
The deal will integrate Ripple's US dollar-backed stablecoin RLUSD into Flutterwave's payments infrastructure. Get more updates on coindesk.com.