There was good news on the U.S. inflation front in May as both the headline and core rates of the Consumer Price Index rose less than forecast.

The CPI rose X.1% in May, according to the Bureau of Labor Statistics. Economist forecasts had been for 0.2% and April’s pace was 0.2%.

On a year-over-year basis, the CPI climbed 2.4% against estimates for 2.5% and April’s 2.3%

Core CPI, which strips out the volatile food and energy categories, rose 01% last month versus forecasts for 0.3% and 0.2% in April. Year-over-year core CPI was 2.8% versus an expected 2.9% and 2.8% in April.

Markets hold to rate-cut outlook

Bitcoin rose about 0.6% in the moments following the news, trading at $109,800, up 0.3% over the past 24 hours.

Despite continued uncertainty around inflation’s trajectory, the market remains confident that the Federal Reserve will begin easing policy later this year. According to the CME FedWatch Tool, traders are fully pricing in two rate cuts, with the first expected in September and the second in December.

Binance Wallet rolled out its Binance Alpha Earn Hub on Wednesday. The hub will reward users that provide liquidity on Alpha token token pools, offering a form of annual interest generated by trading fees generated from these pools.

The introduction of the hub comes as Binance Wallet surpassed $12.5 billion in daily on-chain volume, a record high spurred by increased activity around Binance Alpha, a platform that which hosts token launches and airdrops.

“Reaching a new all-time high of $12.5 billion in daily on-chain trading volume reflects the growing demand from users actively engaging with Binance Alpha on Binance Wallet,” said Winson Liu, Global Lead of Binance Wallet.

The recent release also means that liquidity providers will also earn points for managing positions on decentralized exchange PancakeSwap, which accessed via the Binance Alpha Earn Hub.

Points can be used to increase allocation of newly-issued tokens and will all eventually be converted into token airdrops.

Fitness-equipment manufacturer Interactive Strength (TRNR) said it entered into a securities purchase agreement to raise as much as $500 million for buying Fetch.ai’s FET token as a crypto treasury strategy.

The Nasdaq-listed company is already in the process of buying the tokens after raising $55 million of new capital from ATW Partners and DWF Labs, it said in a release shared with CoinDesk.

“Digital assets are rapidly becoming an essential part of global financial infrastructure and AI is the biggest technological leap in our lifetime,” CEO Trent Ward said in the statement. “We believe our strategy to acquire a significant number of $FET tokens could dramatically accelerate our mission to create significant long-term value for TRNR shareholders.”

Interactive Strength, the maker of CLMBR and FORME branded equipment, joins a long list of public companies in U.S. that are adding cryptocurrencies to their balance sheets. Most, led by Strategy (MSTR), are focused on bitcoin BTC. None of these companies has acquired AI tokens like FET.

TRNR, which has a market cap of $8.4 million, will use BitGo for trading and custody of its FET holdings, according to the press release. Its shares rose 3.5% to 83 cents in pre-market trading.