Stablecoins drive demand for Treasuries and are fundamental to the US economy

Stablecoins drive demand for Treasuries and are fundamental to the US economy – Cantor Fitzgerald CEO

As stablecoin adoption in the U.S. and around the world accelerates, Cantor Fitzgerald CEO Howard Lutnick says USD-pegged stablecoins actually benefit the U.S. economy.The SEC has issued a Wells notice to Uniswap Labs, the main developer behind the Uniswap decentralized exchange, suggesting that a lawsuit against the platform is imminent.

-The gold market is holding its ground near record highs as the European Central Bank continues to hold interest rates unchanged.In a much-anticipated move the ECB said it would leave interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 4.50%, 4.75% and 4.00% respectively.The gold market is not seeing much movement in initial reaction to the latest monetary policy decision. Spot gold last traded at €2,177.

- The gold market continues to ignore solid U.S. economic data has it hold initial support above $2,350 an ounce even as the U.S. labor market remains relatively healthy.Initial claims for state unemployment benefits dropped by 11,000 to a seasonally adjusted 211,000 for the week ended April 6, the Labor Department said Thursday. The labor market data was better than expected; according to consensus estimates, economists were looking for a reading of around 216,000 claims.

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