## June 10 Global Economic Briefs: Renewed US-Iran Conflict Causes Oil Price Volatility; USDT Monthly Spending Reaches $600 Million, Connecting Games to Tesla's Full Scope
On June 10, global markets experienced significant volatility, caught between escalating US-Iran conflict and rising inflation data. Following Iran's downing of a US Apache helicopter on June 9, the US launched a "self-defense" strike against Iran. As a result, WTI crude oil futures settled at $88.20 per barrel, and Brent crude fell to $91.45, having fallen more than 5% at one point during the day. US stock indices closed mixed, with the Nasdaq down 0.97% and the Philadelphia Semiconductor Index down 1.93%.
Regarding inflation, the market is focused on the US May CPI data to be released tonight. Interest rate swaps indicate that the market generally expects the year-on-year CPI growth rate to accelerate further to 4.2%-4.3% in May, potentially reaching a new high since June 2023. If the data exceeds expectations, the Federal Reserve may completely remove the "dodging bias" wording from its June 17th policy meeting, further fueling expectations of an interest rate hike.
Amid market turmoil, stablecoin payment infrastructure is expanding against the trend. According to Memento Research data, monthly spending on crypto payment cards has risen to $600 million, a six-fold increase year-on-year; cumulative on-chain transaction volume has reached $7.2 billion, completing 24 million transactions involving 1.36 million wallet addresses. 62.5% of these transactions were settled in USDT, and approximately 90% were processed through the Visa network. The total number of USDT users has reached 534.5 million, covering on-chain wallets and centralized platforms.
**USDT's consumption scenarios are fully integrated**:
- **Game top-ups**: Through cryptocurrency gift card platforms such as Bitrefill, players can directly use USDT to purchase digital gift cards for mainstream games such as Steam and PUBG Mobile. USDT payments are supported via the TRC-20 network, and can be redeemed after confirmation of receipt.
- **Buying an iPhone:** Users apply for a virtual card through an encrypted debit card platform, top up with USDT, and then link it to Apple Pay. When checking out on the Apple website, they select card payment. The payment gateway automatically converts USDT into fiat currency at the real-time exchange rate and completes the settlement, providing a completely identical experience to using a regular credit card.
- **Buying a Tesla:** The same encrypted card mechanism applies to large-value car purchases. Tesla's official website and global stores accept Visa/Mastercard. When cardholders swipe their cards at stores or place orders on the website, the system instantly converts USDT into fiat currency. Merchants receive only fiat currency throughout the process, and single transactions cover the payment needs for most Tesla models.
From Bitrefill game top-ups to purchasing iPhones with encrypted cards, and then picking up Tesla cars with cards on the official website—USDT is transforming the "digital dollar" from a transaction tool into a global infrastructure for daily consumption, building a new consumption channel independent of the traditional banking system for over 500 million users worldwide in an era of high inflation and high oil prices.
## 📌 Macroeconomic Brief
1. **US-Iran Conflict Escalates:** Iran shot down a US military helicopter, prompting a US retaliatory strike. WTI crude closed at $88.20, and Brent crude closed at $91.45, both falling sharply.
2. **Market Focuses on CPI Data:** The US May CPI, to be released tonight, is expected to rise 4.2%-4.3% year-on-year. If the data exceeds expectations, the Federal Reserve may completely remove the "dovish bias" wording from its June 17th policy meeting, fueling expectations of an interest rate hike.
3. **US Stocks Close Lower Amid Volatility:** The Nasdaq fell 0.97%, and the Philadelphia Semiconductor Index fell 1.93%, with technology stocks under pressure.
4. **Monthly Crypto Payment Card Spending Reaches $600 Million:** This represents a six-fold increase year-on-year, with 62.5% settled in USDT and 90% processed through the Visa network. USDT has over 534 million global users.
5. **USDT Consumption Achieved Across the Entire Chain:** From Bitrefill game top-ups to crypto cards linked to Apple Pay for iPhones, and even the same card used to purchase a Tesla, the digital dollar has moved from wallets into everyday life.
KXZ Store is dedicated to delivering a fast, secure, and convenient shopping experience. We offer no-registration & express checkout, making your purchase easier than ever. As a one-stop digital service platform, we cover a wide range of gift cards and top‑up services for popular platforms to meet your diverse needs. We stand by our low-price guarantee and strict security measures, ensuring every transaction delivers exceptional value and peace of mind. Above all, we prioritize information confidentiality and privacy protection, fully safeguarding your personal data.