● Analysis: Major US economic indicators still point to a slowdown, but no longer indicate a recession

According to PANews, data released by research firm The Conference Board on Tuesday showed that major U.S. economic indicators still point to economic slowdown, but no longer indicate a recession. This is a positive signal for risk assets including cryptocurrencies. The organization's leading economic indicator (LEI) fell 0.6% to 100.4 in July after falling 0.2% in June.

According to data source MacroMicro, the indicator peaked in the second quarter of 2022 and has been declining since then. The LEI includes several forward-looking indicators, such as average weekly hours worked in manufacturing, average weekly initial claims for unemployment insurance, ISM new orders index, stock prices and leading credit index. It helps identify changes in economic trends and turning points in financial markets and is considered one of the most reliable signals of a recession (defined as consecutive quarterly contractions in growth rates). The continued decline in the leading index indicates that the economy is about to encounter headwinds. However, the annualized six-month rate of change of the leading index narrowed to -2.1% in July from -3.1% in June, indicating that the risk of a recession is waning.

● Nasdaq and S&P 500 end 8-day winning streak

According to Bloomberg, the US Nasdaq and S&P 500 ended their eight-day winning streak, and futures showed that Tokyo, Hong Kong and Sydney stock markets would fall by at least 0.5%. Matt Maley, managing director and equity strategist at quantitative hedge fund Miller Tabak, said it was healthy for the stock market to take a break for a day or two because no market would continue to rise in a straight line.

● The US Bitcoin ETF has had net inflows for 7 of the past 9 days

According to Odaily Planet Daily, HODL15 Capital posted on the X platform that the inflow of US Bitcoin ETF is divided by day. In the past 9 days, there have been 7 days of net inflow.

● 60% of the world’s top 25 hedge funds have disclosed their Bitcoin ETF holdings

According to Foresight News, Bitcoin Magazine revealed that 60% of the world's top 25 hedge funds have disclosed their Bitcoin ETF holdings. Among them, Millennium Mgmt. holds 27,263 BTC, with 1,429 new BTC this quarter; G.S. Asset Mgmt. holds 6,202 BTC, with 6,202 new BTC this quarter; and Schonfeld Str. Advsrs. holds 6,734 BTC.

● Mt.Gox address transferred about 12,000 BTC, worth about $709 million

According to PANews, on August 21, Arkham data showed that at 7:39 Eastern Time, the Mt.Gox address (starting with 1MUQEi) transferred about 12,000 BTC worth about US$709 million to another address (starting with 1PuQBj).

● Binance has prevented $2.4 billion in potential user losses by 2024

According to Binance News, from January to July 2024, Binance successfully prevented more than $2.4 billion in potential fraud and scam losses through its comprehensive risk management and real-time monitoring system, protecting more than 1.2 million users worldwide. Binance's risk engine combines AI technology and manual review to dynamically detect and mark suspicious transactions to ensure the safety of users' funds. Users are called upon to remain vigilant and adopt strong security measures to deal with potential threats and ensure the security of the crypto ecosystem. Binance uses an advanced internal risk engine that uses a hybrid approach based on artificial intelligence (AI) and manual review for real-time monitoring around the clock. Of the $2.4 billion in prevented losses recorded so far this year, withdrawals related to suspected cryptocurrency scams are over $1.1 billion, accounting for about 45% of the total amount.

“User-centricity has always been Binance’s top priority, as reflected in our commitment to building and maintaining industry-leading technical tools and security processes that enable us to protect users and their assets around the clock,” said Rohit Wad, Binance CTO. “We expect users to remain vigilant and take responsibility for their own security. While our team has implemented extensive measures to protect your funds, users themselves always play the greatest role in protecting their assets. Stay informed, use strong security measures, and be wary of potential scams.”

● Binance Labs announces investment in Corn

According to a Binance blog post, Binance Labs announced an investment in Corn to simplify the use of Bitcoin in decentralized finance. This is the first super-yield network built around Bitcoin.

Corn is an Ethereum L2 network dedicated to building a DeFi hub for Bitcoin. Corn has launched BTCN, a hybrid tokenized Bitcoin that enhances Bitcoin’s use in DeFi. BTCN integrates multiple custodians, smart contracts, and bridge protocols to provide a more secure, scalable, and versatile solution. This hybrid approach ensures that Bitcoin holders can manage their assets according to their risk preferences while using them in a variety of DeFi applications.