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In Brief The article highlights Worldcoin's recent 2.53% price increase. The "OneGov" initiative is a key factor in this rise. Technical indicators suggest cautious optimism for continued growth.
In Brief SEC announces first Project Crypto directive, exempting specific liquid staking applications from securities laws. This decision empowers institutional investors to engage in new, flexible liquidity strategies. Regulatory clarity could significantly accelerate growth in the liquid staking sector and beyond.
CleanSpark confronts potential $185 million tariff penalties after US Customs claimed the company’s 2024 Bitcoin mining equipment imports were of Chinese origin despite supplier documentation stating otherwise.
Ethereum broke through $4,050 resistance on August 8 following Sharplink Gaming’s $200 million direct offering announcement to expand their Ethereum treasury beyond $2 billion.
A pink knit cap tied to the dogwifhat meme coin fetched nearly $800,000 in a Bitcoin auction, sparking price rallies for both WIF and SHIB coins.
Quick Take BlackRock, which currently lists and trades bitcoin ETFs and Ethereum ETFs, said that it does not have plans for an XRP ETF or a SOL ETF. Some sources said if BlackRock wanted to list an XRP ETF, it would have done so already.
- 20:23Institution: The Federal Reserve expects the economy may continue to achieve a soft landingJinse Finance reported that Maulik Bhansali, Senior Portfolio Manager at Allspring Global Investments, stated that what has a greater impact on the credit market is not the 25 basis point rate cut, but rather the "Summary of Economic Projections." These data indicate that there may be two more rate cuts this year, while GDP growth expectations have been slightly raised. Despite growing concerns about the labor market, the unemployment rate is expected to decline slightly. All these factors combined suggest that the economy may continue to achieve a soft landing, which is very favorable for the credit market. Yields remain attractive, especially at the longer end of the curve, which should keep investors focused on the credit market despite high valuations. What we need to pay attention to now is that, as the rate-cutting cycle restarts and the stock market reaches new highs, leveraged M&A activity may accelerate, which could catch some credit investors off guard.
- 20:23U.S. Treasury bonds fall as Powell dampens market hopes for significant rate cutsJinse Finance reported that the first interest rate cut by the Federal Reserve in nine months triggered a rise in US Treasury bonds, as the market expected the Fed to launch a series of aggressive rate cuts to support the economy. However, Fed Chairman Powell stated that Wednesday's rate cut was a risk management decision, and there is no need to adjust rates rapidly; the Fed will make decisions on a meeting-by-meeting basis. This cautious statement dampened market hopes for significant rate cuts, causing US Treasuries to fall and yields to rise. Gennadiy Goldberg, Head of US Rates Strategy at TD Securities, said that Powell was reluctant to express an overly dovish stance, which affected the direction of interest rates, especially when Powell mentioned that this rate cut was an "insurance" measure.
- 20:23Powell: The job market is no longer very strongJinse Finance reported that after the Federal Reserve cut interest rates by 25 basis points, Federal Reserve Chairman Powell pointed out at a press conference that the labor market is showing increasing signs of weakness. He said: "Labor demand has slowed, and the recent pace of job creation appears to be below the breakeven point needed to keep the unemployment rate stable." He added: "I can no longer say that the labor market is very strong." Looking ahead to the prospects for interest rate adjustments, Powell expressed caution, stating that the Federal Reserve is now in a situation of "making decisions meeting by meeting."