Bitget’s UNTOLD Dubai Spectacle: LED Tower Revolution and Global Fan Frenzy

Dubai's skyline just got a crypto-powered upgrade—Bitget's monumental LED tower at UNTOLD Festival isn't just lighting up the desert, it's setting the stage for Web3's global takeover.

The Immersive Experience

Massive LED installations pulse with real-time crypto data streams while thousands of festival-goers interact through decentralized platforms. No middlemen, no traditional banking delays—just pure digital asset integration.

Global Community Impact

Fans from 150+ countries accessed exclusive NFT drops and real-time trading features while traditional finance executives probably wondered why their boring PowerPoint presentations couldn't generate this level of engagement.

The Future is Now

While legacy financial institutions debate blockchain adoption, Bitget just showed how crypto experiences can dominate global entertainment—proving once again that in the race for digital relevance, being early beats being late every single time.

Bessent warns that higher interest rates risk deeper economic pressure

Bessent told CNN over the weekend that the Federal Reserve’s restrictive policy may have contributed to a recession in several parts of the economy, particularly the housing sector. Bessent also argued that the central bank now has room for more rate cuts.

Bessent warned that higher interest rates risked deeper economic strain, particularly for households with Leveraged positions.  He cited recent data from the National Association of Realtors, which showed that pending home sales were flat in September. He also believes that other portions of the economy could fall into a recession without more interest rate cuts.

“I think we are in good shape, but I think that there are sectors of the economy that are in recession. The Fed has caused a lot of distributional problems with their policies. I think that there are sections of the economy that could go into recession.”

-Scott Bessent, Treasury Secretary of the U.S.

The Fed cut interest rates by a quarter-point on Wednesday amid the ongoing government shutdown that has put a hold on the release of critical economic data. The Fed chair, Jerome Powell, still revealed that there was room for another rate cut by year-end.

The central bank has cut interest rates for the second time this year. The change in monetary policies came as President Donald TRUMP has called for more aggressive rate cuts since taking office in January. He has also criticized the Fed’s Chair for interest rates remaining stable for the first nine months of the year.

Fed chair hints at another rate cut by year-end

Stephen Miran, who Trump appointed to the Board of Governors in August, called for a much larger half percentage point reduction at the Fed’s meeting on Wednesday. He argued that the central bank risks triggering a recession if it doesn’t lower rates quickly. 

Kansas City Fed president and CEO Jeffrey Schmid argued against cutting rates at all. He suggested that the Fed should ensure that monetary policy leans against demand growth, allowing space for supply to expand and relieving pressures in the economy. However, Bessent cited that reduced government spending has aided disinflation by helping lower the U.S. deficit-to-GDP ratio from 6.4% to 5.8%.

Schmid acknowledged that inflation has been running above the Fed’s 2% target for more than four years. He argued that the outcome of the Fed’s policy decisions will affect inflation expectations. The U.S. official also noted that the economy is showing continued momentum, with consumption remaining solid, and data for July and August suggesting an acceleration through the summer. 

Two members of the Federal Reserve committee voted against another 25% rate cut. Powell argued that the disagreement among the 12-person committee was not about the most recent cut but how the committee should proceed in December’s meeting.

Powell maintained that the goal of cutting rates is to keep both unemployment low and minimize price increases. He also acknowledged that the majority of Fed officials are currently more concerned about the labor market than rising inflation, but opinions on the next monetary policy differ widely.

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