1. U.S. Treasury Secretary Yellen said that the Fed’s actions are a very positive signal for the U.S. economy, and the U.S. labor market is normal and healthy, similar to its pre-epidemic state.
2. Standard Chartered Bank predicts that Bitcoin and digital assets will continue to rise after the Federal Reserve’s recent interest rate cut, driven by favorable macroeconomic conditions.
Standard Chartered’s Geoff Kendrick predicts that Bitcoin and digital assets will continue to rise after the Federal Reserve’s recent rate cut, driven more by favorable macroeconomic conditions than the outcome of the U.S. presidential election.
3. After the Federal Reserve cut interest rates, cryptocurrency prices generally rose, and stocks linked to Bitcoin prices climbed, with Coinbase up 5% and MicroStrategy up 5%.
Cryptocurrency prices rose as part of a broad market rebound after the Federal Reserve cut interest rates for the first time in more than four years. Bitcoin prices rose 3.5% on the day to $62,417.48, according to Coin Metrics, after rebounding ahead of the central bank's decision on Wednesday. Bitcoin, like stocks, rose initially but fell back as traders digested the news. Stocks tied to the price of bitcoin climbed. Bitcoin exchange operator Coinbase rose 5%. MicroStrategy, which is widely used as a high-risk investment vehicle for bitcoin prices, rose 5%. Yuya Hasegawa, a crypto market analyst at Japanese bitcoin exchange Bitbank, said the Bank of Japan is likely to keep its policy rate unchanged this time tomorrow, but signs of further rate hikes could boost the (yen) and could trigger a reversal of the yen carry trade, which could lead to a sell-off in Japanese stocks and risk aversion could spread to crypto markets. The next possible short-term target is around $65,000. -Original text
4. Ethereum developers confirmed that the hard fork Pectra will be split into two parts to minimize the risk of mistakes or errors. Pectra is expected to become Ethereum's largest hard fork to date.
5. Robert Kennedy Jr. said that Bitcoin mining is a powerful new tool to support renewable energy-intensive power grids, and miners actively participate in demand response projects to reduce consumers' electricity costs.
Robert Kennedy Jr. recently stated in a letter to The Economist that Bitcoin mining is a powerful new tool to support renewable energy-intensive power grids. He pointed out that although the power grid is facing pressure from manufacturing, electric vehicles and data centers, the electricity consumption pattern of Bitcoin mining is different from traditional electricity consumption and can have a positive impact on the power grid. Kennedy emphasized that unlike facilities such as data centers, Bitcoin mines only operate when electricity is cheap and abundant. When electricity scarcity causes prices to rise, mines will reduce electricity consumption within seconds. In addition, Kennedy pointed out that Bitcoin miners actively participate in demand response projects, allowing grid operators to control their electricity consumption to stabilize the power grid. The participation of Bitcoin miners in these projects helps to bid in the open market and reduce consumers' electricity costs. -Original text
6. ZachXBT disclosed the details of the theft of $243 million in crypto assets from Genesis creditors and the three masterminds. More than $9 million in funds have been successfully frozen.
Chain detective ZachXBT published an article on the X platform, detailing a major crypto asset theft against a Genesis creditor. He pointed out: On August 19, 2024, three hackers stole $243 million worth of crypto assets from a Genesis creditor through a highly sophisticated social engineering attack. The attackers first impersonated Google customer service and deceived the victim over the phone, successfully hacking into his personal account. Later, they disguised themselves as support staff of the Gemini exchange, claiming that the account was hacked, inducing the victim to reset the two-factor authentication and transfer the funds in the Gemini account to the controlled wallet. Finally, the hackers induced the victim to share the screen using the AnyDesk remote desktop software, thereby stealing the private key of the Bitcoin Core wallet. ZachXBT identified three main suspects: 1. Veer Chetal (alias Wiz) received the largest share of the stolen money, about $34.5 million, and the address is still 0x3c7a5f2795e73d2b94a9120a643f608cfc45c935. 2. Malone Iam (alias Greavys) lived a lavish life in Los Angeles and Miami, spending up to $250,000 to $500,000 a day, and even gave Hermès handbags to women. 3. Jeandiel Serrano (alias Box) was responsible for impersonating Gemini customer service to commit fraud. With the joint efforts of ZachXBT, CFInvestigators, Zeroshadow and the Binance security team, more than $9 million in funds have been successfully frozen, of which more than $500,000 have been returned to the victims. It is worth noting that Malone and Jeandiel have been arrested in Miami and Los Angeles respectively. Law enforcement anticipates that additional funds may be seized during the arrests as significant fund transfers were observed before and after the arrests.
7. Commerzbank will provide BTC and ETH trading services through its Deutsche Boerse subsidiary to meet the needs of German customers.
Crypto Finance, a subsidiary of Deutsche Boerse, the operator of Germany's largest stock exchange, has signed a deal with Commerzbank to provide trading services to the bank's corporate clients, just two weeks after it reached a similar agreement with Switzerland's Zürcher Kantonalbank (ZKB). Commerzbank will provide custody services, the two companies said in a press release on Thursday. Commerzbank is Germany's second-largest bank by the number of branches. The trading services provided by the Deutsche Boerse unit will be aimed at German customers and will initially focus on Bitcoin and Ethereum trading. - Original text
8. The CFTC urged the appeals court to block election betting during the Kalshi dispute, arguing that election gambling undermined the integrity of the prediction market case.
CFTC argues election betting undermines integrity of Karsh prediction market case. Judge questions distinction between election betting and other forms of gambling. Karsh defends contract, claims compliance with know-your-customer protections.
9. U.S. White House officials said the Fed's interest rate cut clearly sent a signal that inflation has fallen, but they believe that the economic condition is good.
But it believes the economy is in good shape, there are no significant risks to the outlook, and the Fed's interest rate cut clearly sends a signal that inflation has fallen. -Original text
10. Out of concern for Sun, DeFi lender Sky approved to stop supporting Bitcoin packaging and use wrapped Bitcoin as collateral.
Decentralized finance lender Sky, formerly known as MakerDAO, will move forward with a plan to use wrapped Bitcoin (WBTC) as collateral, with overwhelming support from the project’s community.
11. Two suspects were accused of stealing $230 million in cryptocurrency, and federal prosecutors formally filed charges.
Federal prosecutors have formally charged two cryptocurrency scam suspects, Malone Lam and Jeandiel Serrano, with stealing more than $230 million worth of cryptocurrency.
12. The judge dismissed Consensys' lawsuit against the SEC regarding MetaMask and Ethereum claims, siding with the SEC.
On Thursday, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas, Fort Worth, dismissed Consensys’ lawsuit and sided with the SEC. Over the past year, the SEC and Consensys have experienced a long tug-of-war.
13. The Banana Gun team confirmed that hackers may have attacked nearly 50 TG accounts and withdrawn funds. The attack seems to have ended.
Banana Gun community member yannickcrypto.eth posted on X: “The Banana Gun team confirmed that hackers may have attacked nearly 50 TG accounts and withdrawn funds through these accounts. This fits the pattern of wallets being drained. The attack seems to be over.” - Original text
14. Arkham released the latest ranking of government Bitcoin holdings. The United States topped the list with holdings of US$12.16 billion, while Germany's holdings fell to zero.
Arkham released the latest government Bitcoin holdings rankings on X. The United States topped the list with $12.16 billion in holdings. The top four countries are: United States: $12.16 billion; United Kingdom: $3.67 billion; Bhutan: $782.46 million; El Salvador: $351.75 million; It is worth noting that Germany dropped from $3.56 billion to zero, becoming a special nomination.
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