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The Grayscale Dogecoin Trust will offer investors an opportunity to gain exposure to a token that the company believes has "transitioned from a memecoin... to a tool for global financial inclusion and a viable means of payment". Investors are hunting for gains beyond bitcoin, and firms like Grayscale are looking to tap into the growing popularity of altcoins — a term used for crypto tokens other than the world's biggest cryptocurrency. "Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system," said Rayhaneh Sharif-Askary, Grayscale's head of product and research.

Sippel will be leaving for another opportunity after a 23-year stint at the largest U.S. bank by assets, where he held various roles, including expanding its prime brokerage business and overseeing global credit trading and public finance. Earlier this month, JPMorgan reported a record annual profit as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter. JPMorgan's global markets franchise ended 2024 with a record revenue of $30 billion.

“I would like to see progress in lowering inflation resume before we make further adjustments” to the main interest rate, Federal Reserve Governor Michelle Bowman said.

Goolsbee told CNBC, however, that "there is a question mark that is coming from policy uncertainty," including over the impact of tariffs that President Donald Trump says he will impose on trading partners like Mexico and Canada as soon as Saturday. Goolsbee said he agrees with Fed Chair Jerome Powell, who on Wednesday said there should be "no hurry" in making further cuts, given the need to see more progress on inflation. Powell spoke after the central bank announced it had left its benchmark interest rate in the current 4.25%-4.50% range.

The group also increased its bitcoin holdings last quarter for the first time since March, holding nearly 84,000 BTC worth about $7.8 billion as of year-end.

WASHINGTON (Reuters) -Federal Reserve Governor Michelle Bowman said on Friday she still expects declining inflation to allow further interest rate cuts this year, but feels rising wages, buoyant financial markets, geopolitical risks, and upcoming administration policies could slow the process and keep price pressures elevated. Bowman's comments did not account for new data on inflation and employment costs released just as her remarks were published.

Wall Street's main indexes rose on Friday, driven by gains in Apple following its strong sales forecast and a reading of the U.S. central bank's favored inflation gauge which aligned with expectations that the Fed would keep borrowing costs steady. U.S. prices increased as expected in December, while consumer spending surged, suggesting that the Federal Reserve has the leeway to delay cutting interest rates for longer this year. Traders kept their bets on the Fed waiting until June to resume rate cuts at 70% after the data was released, futures that settle to the central bank's policy rate indicated.

The asset manager said the token has transitioned from a memecoin to a tool for global financial inclusion.

The Federal Reserve's preferred measure of inflation picked up in December, pushing the central bank's goal of a 2% annual rate farther into the distance.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying prices pressures showed signs of easing. The latest inflation figures arrive as President Donald Trump has threatened to impose big import taxes on goods from Canada and Mexico, potentially affecting everything from autos to avocados, which could push prices higher in the coming months. Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase.