1. Last week, digital asset investment products attracted $245 million in capital inflows
Bitcoin saw an inflow of $519 million, bringing its inflows so far this month to $3.6 billion and its year-to-date inflows to a record $19 billion. The launch of the US spot Ethereum ETF brought in $2.2 billion in inflows to the ETH ETF, but existing outflows offset this inflow, resulting in a net outflow of $285 million for Ethereum.
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2. Musk: No plans to promote any cryptocurrency
Elon Musk answered questions about his current views on Bitcoin, Dogecoin and cryptocurrencies in the "X Takeover" podcast. He said that Bitcoin and some other cryptocurrencies are valuable. He has a preference for the original MEME coin Dogecoin because he likes "dogs and memes." Musk made it clear that he does not intend to promote any cryptocurrency. At most, he will do it in a "joking way." If anyone sees a video of him promoting cryptocurrency, it must be a deep fake.
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3. A British computer hacker was sentenced to three and a half years in prison for stealing more than 500 Coinbase accounts in 2018-2019
Elliot Gunton, a British computer hacker, pleaded guilty to conspiracy to commit fraud and money laundering outside the UK and was sentenced to three and a half years in prison. He and his accomplices hacked into more than 500 Coinbase accounts through phishing websites and stole more than $900,000 in 2018-2019 when he was only 17-18 years old. Gunton was sentenced to 20 months in prison in 2019 for stealing TalkTalk customers' personal data in exchange for hundreds of thousands of dollars in cryptocurrency, but successfully avoided jail time due to a 12-month rehabilitation order.
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4. Compound proposed to transfer $24 million COMP tokens from the treasury to the protocol designed by Golden Boys, which the community accused of being a governance attack
Compound Finance security consultant Michael Lewellen discovered that several addresses were hoarding COMP tokens in large quantities on the open market, and proposed multiple proposals to transfer COMP to the goldCOMP product created by an organization called Golden Boys. But after Proposal No. 289 passed, Humpy, the leader of Golden Boys, defended the proposal, claiming that the requested investment was set up through a trust with binding actions, rather than stolen/misappropriated funds. However, Ogle, one of the five members of the Golden Boys multi-signature, said he was completely unaware of the proposal.
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5. An error occurred in the latest version of Google that caused the user's saved passwords to disappear. It has now been fixed
Google has fixed a bug in Chrome's password manager that caused users' saved passwords to briefly disappear for more than 18 hours. The outage began on July 24 and affected about 2% of users who upgraded to Chrome 127 (the latest version of the browser) and relied on Chrome's built-in tool to store and autofill passwords.
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6. Wu said this week's macro indicators and analysis: Federal Reserve interest rate decision, non-agricultural data
Summary
This week sees the "central bank super week" of the United States, Japan and the United Kingdom, as well as the release of U.S. non-farm data. The focus is on the Federal Reserve's interest rate decision and the U.S. non-farm data for July. The market generally believes that the Federal Reserve will remain on hold this time, but is expected to release clearer interest rate cut information in July to pave the way for a formal rate cut in September.
Last week review
●The Bank of Canada announced a 25 basis point interest rate cut, lowering the benchmark interest rate to 4.5%.
●The number of initial jobless claims in the United States for the week ending July 20 was 235,000, lower than the market expectation of 238,000 and the previous value of 243,000.
●The initial estimate of the U.S. real GDP annualized quarterly growth in the second quarter was 2.8%, exceeding the expected 2% and far exceeding the previous value of 1.4%.
●The initial value of the U.S. core PCE price index annualized quarterly in the second quarter was 2.9%, exceeding the expected 2.7% and significantly slowing down from the previous value of 3.7%.
●The annual rate of the U.S. core PCE price index in June was 2.6%.
●The final value of the University of Michigan Consumer Confidence Index in July was 66.4, in line with expectations of 66.
This week's key events & indicators
July 31
●China's official manufacturing PMI for July (09:30)
●Japan's central bank target rate until July 31 (11:00)
●U.S. ADP employment in July (10,000 people) (20:15)
August 01
●Federal Reserve announces interest rate decision (02:00)
●Fed Chairman Powell holds a monetary policy press conference (02:30)
●Bank of England announces interest rate decision, meeting minutes and monetary policy report (19:00)
August 02
●U.S. unemployment rate in July (20:30)
●U.S. July seasonally adjusted non-farm payrolls (10,000 people) (20:30)
