Market Update 08/15/2024

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I. Market News

1. US CPI falls below expectations, back to 2, down for the 4th consecutive month.

2. Fed: The debate at the September Fed meeting will focus on cutting interest rates by 25 basis points or more than 50 basis points.

3. Binance Futures launches BANANA/USDT-margined perpetual contract

4. OKX will launch DOGS spot and pre-market trading of DOGS.

5. Pump.fun's fee-receiving account has sold all 222,073 SOL in the past 3 months, earning 35.54 million USDC.

6. Grayscale transfers 700 BTC to an unmarked address, worth 42.76 million USD

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II. Project Updates

1. Scam project ZKasino has yet to refund 10,515 ETH to users.

2. Oyi will delist leveraged and perpetual contracts for the FITFI and BLOCK tokens.

3. $GM token will have a 6% trading tax buy/sell, expected to be removed in a few weeks.

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III. Investment Updates

1. Stablecoin Payments app Sling Money has completed a $15 million Series A funding round led by USV.

2. Ethereum Layer-2 Parfin has completed a $10 million Series A funding round led by ParaFi Capital.

3. Smart account developer Crystal has completed a $5 million seed round led by 1kx.