Goolsbee, an important official of the Federal Reserve, publicly stated that the interest rate cut policy may continue in the next year, and affirmed the latest 50 basis point interest rate cut, which clearly reflects the Fed's current high attention and support for the recovery of the job market.
Following the Fed's pace of drastic interest rate cuts, Goldman Sachs adjusted the future trend of the US dollar, predicting that the US dollar will gradually lose its strong position and enter a depreciation channel. Due to the decline in yields, the US dollar has weakened its appeal to other currencies such as the euro, pound and yen, so Goldman Sachs has raised its appreciation expectations for these currencies. Goldman Sachs strategist Kamakshya Trivedi emphasized that although the high valuation of the US dollar is solid, the risk of its depreciation has been reduced. Specifically, Goldman Sachs predicts that the pound-dollar exchange rate will rise to 1.40 in the next 12 months, higher than the previous forecast of 1.32.
The Ethereum Foundation completed the sale of 1,050 ETH during September, with a total transaction amount of approximately US$2.53 million. The selling price of this batch of ETH ranged from $2,301 to $2,645, with some of the 100 ETH sold at $2,645.
In order to enhance its legal response capabilities, Coinbase announced the hiring of Ryan VanGrack as vice president of litigation. VanGrack has extensive legal experience and previously served as general counsel for Citadel Securities.
Mango Markets is actively negotiating with the Commodity Futures Trading Commission (CFTC) and is expected to reach a six-figure settlement agreement to resolve its violations in the cryptocurrency trading process.
At the close of the U.S. stock market, all three major indexes achieved a slight increase. The Dow and Nasdaq both rose 0.14%, while the S&P 500 rose 0.28%, showing an overall positive trend in the market.
About 212 bitcoins were transferred from the Coinbase Prime platform to the Grayscale Bitcoin Mini Trust. Based on the market price at the time, the total value of this batch of bitcoins was approximately US$13.5 million, showing institutional investors' recognition of the long-term value of Bitcoin.
Federal Reserve official Kashkari publicly predicted that the policy interest rate will remain at 4.4% by the end of 2024, and is expected to fall further to 3.4% by the end of 2025. He emphasized that the decision to cut interest rates by 50 basis points was based on an in-depth analysis of the current economic situation.