1. U.S. Treasury Secretary Yellen said that the Federal Reserve expects interest rates to fall further and hopes that the labor market and inflation will remain stable.
2. BlackRock's head of digital assets said Bitcoin is seen as an emerging global currency alternative as concerns about U.S. Treasuries grow.
Robert Mitchnick, head of digital assets at BlackRock, said in an interview with Bloomberg: "When we think of Bitcoin, we primarily view it as an emerging global currency alternative. As concerns about U.S. Treasuries grow, Bitcoin becomes an attractive alternative reserve asset that is unrelated to the value of the U.S. dollar." BlackRock's report said that because of this, Bitcoin is valuable in helping investors diversify their portfolios.
3. BlackRock increased its holdings of 4,460 bitcoins in the past two days, bringing the total to 362,192.679 bitcoins.
BlackRock has increased its holdings of 4,460 bitcoins (worth about $289 million) in the past two days, bringing its total bitcoin holdings to 362,192.679, worth about $22.9 billion.
4. The number of initial jobless claims in the United States fell to a four-month low, which may prompt the Federal Reserve to consider cutting interest rates at a faster pace.
The number of Americans filing for unemployment benefits fell to a four-month low of 218,000. Claims have remained low in recent months even as the U.S. unemployment rate has risen and job creation has slowed. Economists say that's because workers eligible for such benefits aren't losing their jobs. While weekly layoff applications remain low, several large companies have announced or implemented layoffs this month. Paramount Global conducted its second round of layoffs on Tuesday. General Motors announced last week that it would temporarily lay off two-thirds of the workers at an assembly plant in Kansas until mid-2025. If layoffs increase in the coming months and more Americans find themselves out of work, Federal Reserve officials may consider cutting interest rates faster than currently expected. -Original
5. Donald Trump called for an insider trading prosecution against Nancy Pelosi.
6. Bank of New York Mellon has obtained approval from the U.S. Securities and Exchange Commission to provide cryptocurrency custody services.
7. The U.S. Foreign Affairs Committee passed a resolution calling for the release of Nigerian Binance executive Tigran Gambarian.
Tigran Gambaryan, a former IRS agent and head of financial crime compliance at Binance, was detained after arriving in Nigeria in February. The resolution, passed by voice vote on Thursday, calls on the Nigerian government to release Gambaryan and provide him with "unrestricted medical care." The legislative measure will next go to the full House for a vote.
8. The Federal Reserve has launched a benchmark interest rate committee to help the market use and understand the benchmark interest rate.
Fed Chairman Williams said that the Fed has launched a benchmark interest rate committee, and the new committee will help the market use and understand the benchmark interest rate. Williams did not comment on the economy and monetary policy. In addition, Fed Chairman Powell did not discuss monetary policy or the economic outlook in his brief opening speech at the New York Fed.
9. Federal Reserve Board Governor Bowman said that the Federal Reserve is not responsible for ensuring that every bank can continue to exist, and it is reasonable to conduct in-depth research on deposit insurance.
Federal Reserve Governor Bowman said that we are not responsible for ensuring that every bank can continue to exist. It is reasonable to study deposit insurance in depth. $250,000 may not be a "magic number." (Jinshi) Earlier, Castle Island Ventures partner Nic Carter said that the bankrupt cryptocurrency-friendly bank Silvergate Bank might have survived if it had not been forced into voluntary liquidation by US regulators who were trying to "strangle" the cryptocurrency industry. He cited Silvergate's recent bankruptcy filing and conversations with sources that the Biden administration told the bank that it must limit crypto deposits to 15%, otherwise it would bear the consequences. -Original text
10. Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, said Bitcoin is not a security.
According to Watcher.Gura’s disclosure on the X platform, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, said that Bitcoin is not a security.
11. A New York judge ruled that the case of Tornado Cash developer Roman Storm will proceed to trial.
The U.S. Department of Justice’s (DOJ) case against Tornado Cash developer Roman Storm will proceed to trial, a New York judge ruled in a telephone hearing on Thursday.
12. Robinhood and Revolut are exploring the launch of their own stablecoins.
According to market news, Robinhood and Revolut are exploring the launch of self-issued stablecoins.
13. South Korea's financial regulator warned that crypto scammers with profits exceeding $4 million will face life imprisonment.
South Korea’s financial regulator has issued a stark warning that cryptocurrency scams with profits exceeding $4 million (about 5 billion won) will be punished with life imprisonment. The warning follows the enactment of South Korea’s Virtual Asset User Protection Act in July 2024, which aims to prevent cryptocurrency crime and was partly inspired by the incident of Terra/Luna founder Do Kwon and the collapse of the FTX exchange. Lee Bok-hyun, director of the Financial Supervisory Service (FSS), told 16 digital asset industry executives that financial regulators will continue to strictly enforce the bill. The new law also stipulates other penalties, including fines of 3 to 5 times the illegal profits and up to one year in prison. In addition, the bill requires virtual asset service providers (VASPs) to store at least 80% of customer funds in cold wallets and establish reserves for cybersecurity incidents. -Original text
14. PeckShield disclosed that OnyxDAO became the latest victim of a precision vulnerability attack, with losses exceeding US$3.8 million.
According to PeckShield, OnyxDAO has become the latest victim of a precision vulnerability attack, with losses exceeding $3.8 million. The attack stems from a known precision issue in the CompoundV2 fork code it used. The stolen assets include 4.1 million VUSD, 7.35 million XCN, 5,000 DAI, 0.23 WBTC, and 50,000 USDT. The attacker took advantage of an almost empty market to manipulate the exchange rate and successfully stole the funds. -Original text
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