A Trump-linked website is selling crypto sneakers and tether reported record profits.

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

Presidential candidate Donald Trump has already shown his support for Bitcoin, but he reiterated the message with a new line of merch.

A Trump-linked website is offering several ranges of Bitcoin-themed sneakers with prices as high as $500 a pair.

There are just 1,000 pairs of the bright orange version, and they've already sold out.

Some pre-order purchases are already being advertised on eBay for as high as $2,500.

The site mentions that it has nothing to do with

Trump's political campaign and says the sneakers are not designed, sold, or manufactured by Trump

or related associates. And as expected, the Federal Reserve has kept its benchmark Fed funds rate

range unchanged at 5.25 to 5.5%. The central bank wrote in its policy statement that inflation has

eased over the past year, but remains somewhat elevated. At his post-meeting press conference,

Chairman Jerome Powell indicated the central bank was moved closer to the point where it might

cut rates. The price of Bitcoin edged lower in the minutes following the more hawkish than

expected statement. As of story time, the lead in cryptocurrency by market cap is trading down below $65,000, down 3% on the day.

And stable coin issuer Tether reported a record $5.2 billion of net profits in the first half of

2024 as USDT's market cap surged to new all-time highs.

The company said it generated $1.3 billion of net operating profits over the second quarter of

the year. A part of those profits were reinvested in strategic projects. The increase in net

profits comes as the flagship USDT saw its market value jumped to $114 billion from $91 billion earlier this year.

That's according to data from Coin Gecko.

That's it for CoinDesk Daily.

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