Summary of important overnight developments:
1. Federal Reserve Governor Waller expressed support for further interest rate cuts in 2025, indicating optimism about long-term economic prospects.
2. The SEC Chairman continues to emphasize concerns in the cryptocurrency sector, labeling it as an industry “full of bad actors,” reinforcing a tough regulatory stance.
3. Vitalik Buterin, co-founder of Ethereum, urged the community to prioritize critical upgrades such as “Blob scaling,” an improvement aimed at enhancing network performance.
4. USDC Treasury has issued an additional 200 million USDC in just the past 5 hours, reflecting the growing demand for stablecoins in the market.
5. A spokesperson for the Federal Reserve stated that the minutes from the recent meeting show officials remain steadfast in not wanting to cut interest rates in the short term.
6. According to CryptoQuant, institutional investors have accumulated over 34,000 Bitcoin in the past 30 days, demonstrating increasing confidence in Bitcoin despite market volatility.
7. The minutes from the Federal Reserve meeting also indicate that while inflation is expected to continue to decline, economic policies during the Trump administration could increase the risk of price pressures.
8. In a farewell speech, the CFTC Chairman focused on cryptocurrency, highlighting the importance of the CFTC becoming the official regulatory body for this sector to address the industry's development and risks.
