Fed's Goolsbee: Employment data below expectations, but no signs of recession yet
According to Jinshi, Fed's Goolsbee said that the Fed has been in a tightening mode. Such strict measures are only necessary if there is a concern about overheating of the economy; the current data does not show signs of overheating in the economy. The employment data was lower than expected, but there is no sign of recession yet. On the other hand, the GDP data was slightly stronger than expected. Nevertheless, there are still some warning indicators in other data, such as corporate defaults. Economic growth continues to maintain a stable level. When asked about the possibility of an emergency rate cut, Fed's Goolsbee said that options including rate hikes and rate cuts have been on the table; if the economy deteriorates, the Fed will take measures to repair it. The Fed will respond based on the economic situation. Fed's Goolsbee said that the Fed can wait for more data before the September meeting. It is not the Fed's job to react to one month's employment data.
Japanese and South Korean stock markets rebounded sharply, with the Nikkei 225 index rising 8% in early trading and then expanding its gains to 10%.
Following the plunge on Monday, the Nikkei 225 index opened up 2% on Tuesday, the Topix index rose 2%, and the South Korean KOSPI index opened up 3.7%. The Japanese stock market rebounded violently by 10%. The Nikkei 225 index rose by 10%, rising by more than 3,000 points during the day. Subsequently, the Japan Topix index futures triggered the circuit breaker mechanism upward.
Forbes reporter Eleanor Terrett wrote on the X platform that a meeting hosted by California Congressman Ro Khanna to help U.S. Vice President Harris repair encryption relations was moved from Monday to later this week, with the specific date to be determined. The reason for the postponement of the meeting has not yet been stated, but one participant speculated that Democratic leaders need more time to come up with an official policy position on encryption. Given that Trump's actions are ongoing, they must take a stand.
Trump: US government should not sell cryptocurrencies
According to The Block, Trump said in a latest interview that the US government should not sell cryptocurrencies. When asked about the recent sale of cryptocurrencies by the US government and whether he would still support cryptocurrencies if he won the November election, Trump said that the US government should not sell cryptocurrencies and they should work hard to build them. In addition, Trump called cryptocurrency a "very modern currency" and compared it to artificial intelligence. He has previously expressed his hope that the United States will become a major Bitcoin mining country. According to Arkham Intelligence monitoring, a wallet marked as belonging to the US government last week transferred $2 billion worth of Bitcoin to an unknown wallet address. The US government currently still holds about $11.1 billion worth of cryptocurrencies.
Guy Young, founder of Ethena, posted on the X platform that USDe processed more than $50 million in redemptions overnight, the largest redemption to date, without any problems. The ratio of USDe collateral assets and reserves to USDe supply has always remained above 101%. The next monthly custody asset certificate was originally planned to be released at the end of the month, but in order to provide the community with greater transparency, it will be released ahead of schedule this week.
Binance Labs Fund Announces Second Batch of Projects for Season 7 Incubation Program
Binance Labs Fund announced the second batch of projects for the seventh season of the incubation program on the X platform, including Aarc, a modular protocol that simplifies dApp chain abstraction, FluxLayer, a full-chain intent liquidity layer powered by EigenLayer, and TonTon Games, a project that is unlocking Telegram Gaming.
Musk reopens lawsuit against OpenAI and its CEO Sam Altman
According to a report by Jinshi citing the New York Times, Musk has reopened his lawsuit against OpenAI and its CEO Sam Altman. Musk once again claimed that OpenAI puts profits and commercial interests above the public interest.
Zircuit Announces ZRC Token Economics: 21% Allocated to Airdrops and Community Rewards
The EVM-compatible zkRollup network Zircuit announced the ZRC token economics in the official document. The total supply of ZRC tokens is 10 billion, and the specific distribution is as follows: 21% is allocated to airdrops and community rewards (7% of which is allocated to the first quarter airdrops and 14% is allocated to future airdrops and community rewards); 12.61% is allocated to community regulations; 17.93% is allocated to ecosystem development; 18.70% is allocated to the foundation; 18.74% is allocated to the team; 11.02% is allocated to investors.
Regarding the first quarter airdrop, 7% of the total supply of ZRC is allocated to the first quarter points, and 262,200 unique addresses are eligible to claim. The first quarter airdrop snapshot was taken at 00:00 on July 8, 2024, Beijing time. The document also mentioned that as ZRC gets closer to TGE (transferability), the information will be updated.
US listed company Semler Scientific buys 101 Bitcoins for $6 million
According to PR Newswire, Semler Scientific, a US-listed medical technology company, announced that it had purchased an additional 101 bitcoins for $6 million. Since announcing the adoption of a bitcoin asset reserve strategy on May 28, 2024, the company has purchased a total of 929 bitcoins for a total of $63 million.
ARK Invest bought about $14.81 million worth of Coinbase shares yesterday
According to Ark Invest Daily data, ARK Invest bought 13,003 shares of Coinbase through its ARKW fund and 65,165 shares of Coinbase through its ARKK fund on August 5, worth approximately $14.81 million based on the closing price of $189.47 on the same day.
Hedge Fund Giant Capula Holds About $420 Million Worth of Bitcoin Spot ETF
According to The Block, a document filed by hedge fund giant Capula Investment Management with the U.S. Securities and Exchange Commission (SEC) on Monday showed that as of June 30, the company held $464 million in BlackRock and Fidelity Bitcoin spot ETF shares. As Bitcoin has fallen in recent days, the prices of BlackRock and Fidelity Bitcoin ETFs have also fallen. As of 1:11 p.m. EST on Monday, the total position value held by Capula fell to approximately $420 million. Capula is headquartered in London and is one of the largest hedge fund management companies in Europe.
Justin Sun address withdrew 14,884 ETH from Binance, worth $34.7 million
According to on-chain analyst @ai_9684xtpa, five minutes ago, a suspected Justin Sun address 0x435…Ef7cB withdrew 14,884 ETH from Binance, worth $34.7 million; currently Justin Sun holds more than 700,000 ETH.
According to Coinglass data, the cryptocurrency market had a total of $1.223 billion in liquidation in the past 24 hours, including $959 million in long positions and $264 million in short positions. The total amount of BTC liquidation was $459 million, and the total amount of ETH liquidation was $379 million.
The US government address transferred 0.041 ETH, which may be a transfer test
Arkham data shows that last night, the US government address transferred 0.041 ETH, which may be a transfer test.
According to HODL15Capital, BlackRock IBIT's trading volume was $2.92 billion, Fidelity FBTC's trading volume was $848.45 million, and Grayscale GBTC's trading volume was $689.40 million on August 5. Coinglass data showed that the total trading volume of Bitcoin ETFs on August 5 was approximately $5.7 billion.
Data: Grayscale Ethereum Trust ETF trading volume on August 5 was approximately US$260 million
BTC breaks through $56,000 , ETH breaks through $2,500
OKX market data shows that BTC has broken through $56,000 and is now trading at $56,038 per coin, up 3% on the day. ETH has broken through $2,500 and has risen more than 2% on the day.
SOL recovers above $140, BNB recovers above $488
The market shows that SOL rebounded above $140 and is now at $140.25 per coin, up 7.35% on the day. BNB rebounded above $488 and is now at $488.5 per coin, up 5.71% on the day. DOGE broke through $0.1 and rose more than 5% on the day. PEPE rose more than 8% on the day. XRP broke through $0.51 and rose 4.68% on the day. NEAR rose more than 6%.
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