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[Harris senior campaign adviser: Harris will adopt a "supportive policy" for the encryption industry]
According to Bloomberg, Harris' senior campaign adviser, Brian Nielsen, the U.S. Treasury Department's undersecretary for terrorism and financial intelligence, said in an interview with Bloomberg that Vice President Harris will "support policies that ensure that emerging technologies and such industries can continue to grow." Nielsen mentioned in the interview that the industry said they need "stable rules."
A report released Wednesday by consumer advocacy group Public Citizen found that cryptocurrency companies have spent $119 million in 2024, with almost all of the money going to super PACs, particularly Fairshake PAC, which the group said ranked second among all election-related spending.
[ Federal Reserve meeting minutes: Policymakers strongly prefer to cut interest rates in September]
Fed officials last month strongly favored a rate cut at their September policy meeting, with several even willing to cut borrowing costs immediately, according to minutes from the Fed's meeting. Fed officials kept interest rates unchanged at the FOMC meeting last month but left the door open to a rate cut at the Sept. 17-18 meeting.
The minutes showed that at the July meeting, a “vast majority” of policymakers “believed that if data continued to move in line with expectations, it would likely be appropriate to ease policy at the next meeting.” They also noted that “many” Fed officials viewed the stance of interest rates as restrictive and that “some participants” believed that, with inflation pressures continuing to cool, an unchanged rate would mean that monetary policy would increase the drag on economic activity.
The minutes also showed that while all Fed officials agreed to keep interest rates steady in July, "several" policymakers said that progress in reducing inflation amid rising unemployment "provided a reasonable case for lowering the target range by 25 basis points at this meeting, or that they could have supported such a decision."
[ Binance's new CEO: Binance does not need financing or IPO, and is planning a "century strategy"]
Richard Teng , the new CEO of Binance, told CoinDesk : “Our financial situation is very strong, so there is really no need for us to consider any financing or IPO at the moment. Binance has been profitable since its fifth month of operation and has been very cautious in spending. So IPO is not a topic that is brought up.”
Richard Teng also said that Binance's efforts to improve transparency - including spending 36% more on compliance last year than in 2022 and its ongoing search for places to put down roots - are aimed at building better relationships with global regulators, thereby guiding the company in a more future-proof direction. He said: "It's really about building a sustainable business that will not only succeed in the next few years, but continue to thrive in the next 50 to 100 years, which is certainly our desire."
When asked if Binance was considering raising funds to dilute CZ ownership of the company, Richard Teng demurred and said such matters should be decided by the exchange’s shareholders and board of directors.
[ FTX : All classes of creditors have voted to approve the restructuring plan]
Bankrupt cryptocurrency exchange FTX has announced that all classes of creditors have voted to approve the reorganization plan, including classes of FTX US and FTX Dotcom customers. Unofficial voting reports indicate that over 95% of voting creditors voted in favor of the plan, representing 99% of the value of the claims voted. More than 2/3 of all solicited claims, by vote value, participated in the debtor's solicitation process. Based on these results, the plan is expected to exceed the acceptance threshold under the Bankruptcy Code.
“The Plan’s innovative structure provides for non-government creditors to receive 100% of bankruptcy claims plus interest and resolves complex disputes with dozens of government and private stakeholders,” said John J. Ray III, CEO and Chief Restructuring Officer of FTX. “We will continue to work constructively with creditors and the Court in the coming weeks leading up to the confirmation hearing.”
FTX will submit its final vote results to the U.S. Bankruptcy Court for the District of Delaware prior to a confirmation hearing scheduled to begin on October 7, 2024.
[ Goldman Sachs US election prediction: Harris has a big chance of winning, but will become a "lame duck president"]
Goldman Sachs said in a research report released this week that under the current situation, this year's US election may end with a "lame duck president Harris". Goldman Sachs said that at the national poll level, Harris is about 1.5 percentage points ahead of Trump and has taken the lead in the key swing state of Pennsylvania.
Overall, Harris's chances of winning in November are about 52%-54%. Since she took over the banner of fighting Trump from Biden, her election prospects have continued to rise over the past month. Since August 1 this year, the probability of the Republicans winning the election has dropped by 10 percentage points, and the probability of the Democrats winning but the Republicans controlling both the Senate and the House of Representatives or at least one of them has risen by 11 percentage points. Goldman Sachs also pointed out that although this is the most likely implicit scenario at present, the result is still highly uncertain.
[The total number of non-farm payrolls in the United States in March was revised down to 818,000, and the U.S. Treasury yield rose slightly]
Data from the U.S. Bureau of Labor Statistics showed that the initial estimate of the annual benchmark revision showed that the total number of U.S. non-farm payrolls in March 2024 was revised down by 818,000, a decrease of 0.5%. After the revision of the U.S. employment data, U.S. Treasury yields rose slightly.
[The governor of Wyoming said the state plans to issue a stablecoin pegged to the US dollar in 2025]
According to Cointelegraph, Wyoming Governor Mark Gordon recently attended the Wyoming Blockchain Seminar to discuss how the state embraces blockchain innovation and highlighted the state’s plan to issue a stablecoin pegged to the US dollar in 2025.
Gordon, chairman of the Wyoming Stable Coin Committee, said the state is currently working to support stablecoins through U.S. Treasury bills and repurchase agreements. It will then contact exchange partners for listing sometime in the first quarter of 2025.
Author: BitpushNews Mary Liu
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