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#### Jerome Powell Hints at Imminent Interest Rate Cuts

**Central Bank's Strategy to Strengthen Labor Market**

Jerome Powell has indicated that the Federal Reserve plans to implement interest rate cuts soon. This move aims to counteract any additional weakening in the U.S. labor market. Powell stated, "We do not seek or welcome further cooling in labor market conditions. The time has come for policy to adjust."

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Big news from Celsius! The platform has swiftly distributed over $2.53 billion to around 251,000 creditors, covering about two-thirds of eligible claims and 93% of the total value at January 16 prices.

Here’s the scoop:
- $1.7 billion (65%) was distributed within the first two weeks.
- $2 billion (80%) was distributed by the end of the first month.

Yet, around 121,000 creditors still need to claim their payouts, averaging $1,500 each. Many are owed less than $100, with others due between $100 and $1,000.

Some delays are due to incomplete claims and missing info, but progress is strong. Make sure to check your status and claim what’s yours! 🚀💰

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Bitcoin Transaction Fees Surge 10x Amid Network Demand Spike

The sharp increase was primarily driven by heightened network demand.

Bitcoin transaction fees skyrocketed on August 22, with the average cost per transaction surging by a staggering 937.7%, rising from $0.74 to $7.679.

The sharp increase was primarily driven by heightened network demand, a significant shift from the relatively stable fees that had been observed since July.

Until mid-August, Bitcoin transaction fees had consistently remained below the $2 mark, reaching as low as $0.558 on August 18.

Lower Fees Led to Reduced Miner Revenues

While low fees made Bitcoin transactions more accessible to the general public, they simultaneously threatened to reduce miners’ revenues, as lower fees translate to lower earnings for miners who validate transactions on the network.

The sudden spike in fees on August 22 was linked to an overwhelming demand for network bandwidth, which led to a substantial increase in the cost of sending and receiving Bitcoin.
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