Trump buys a burger with Bitcoin and the rate-cutting cycle in the U.S. begins.

This is Coin Desk Daily. I'm your host, Jen Sanasi.

Former U.S. President Donald Trump continued his crypto journey when he paid for a burger with Bitcoin at Bitcoin-themed New York City Bar PubKee.

Trump made the stop at the bar ahead of his rally in Long Island on Wednesday.

The Pubkey appearance comes two days after Trump spoke in support of World Liberty Financial,

a crypto project he and several of his children are involved in.

And after much anticipation, the Federal Reserve announced the start of its rate cut cycle.

The central bank implemented a 50 basis point rate cut with expectations of further reductions

to bring the median benchmark rate to 4.4% by year end.

Despite the rate cut, market sentiment is mixed with some skepticism about the sustainability

of the crypto market rally. Bitcoin rose

briefly in the minutes following the FOMC decision. As of 9.30 a.m. Eastern time, the leading

cryptocurrency was trading above $63,000 up more than 5% on the day. And Solana has unveiled details

of a second crypto phone that it plans to release in 2025.

According to the announcement from Solana Mobile at the token 2049 conference, the upcoming device named Seeker will be a major hardware improvement over Salana's first mobile phone with better battery, a stronger camera, and a lighter design than the Sega.

The Seeker phone also incorporates improvements specific to crypto, including a specialty. a stronger camera and a lighter design than the Sega.

The Seeker phone also incorporates improvements specific to crypto, including a specialty-built crypto wallet that ties into the device's partitioned seed vault key storage.

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