According to Odaily Planet Daily, Greeks.live macro researcher Adam said that the Bank of Canada's announcement of a 25 basis point interest rate cut was in line with market expectations.
The crypto market has been falling recently due to the drag of the macro economy and the U.S. stock market, so the employment data in the next two days are worth paying attention to. If the economic data is weak, the possibility of a 50 basis point interest rate cut by the Federal Reserve this month will be on the table, which will help stop the decline of U.S. stocks and cryptocurrencies.
However, judging from the options data, except for the US election week, the implied volatility of other maturities is relatively stable. The big whales in the crypto market have not bet on big fluctuations this month, and generally believe that the market will be relatively stable.
● U.S. job vacancies in July fell to the lowest level since early 2021
According to Odaily Planet Daily, job vacancies in the United States fell to the lowest level since early 2021 in July, and layoffs increased, consistent with signs of slowing demand for workers.
The Bureau of Labor Statistics' Job Openings and Labor Turnover Survey showed job openings fell to 7.67 million in July from a downwardly revised 7.91 million in the previous month, missing all economists' expectations.
After the release of the US July JOLTs job vacancies, the Federal Reserve interest rate swaps showed that the Federal Reserve will further ease monetary policy in 2024.
According to Odaily Planet Daily, Federal Reserve Chairman Bostic said that confidence in the sustainable return of inflation to 2% has increased, price pressures are weakening rapidly and broadly, and inflation and employment risks are now balanced.
Bostic said the elusive soft landing may be within reach, but was not ready to declare victory over inflation.
According to BlockBeats, on September 5, the European Parliament will elect a new European Commission this fall, which will decide the EU's cryptocurrency policy for the next five years.
● Nvidia denies receiving antitrust subpoena from US Department of Justice
Nvidia denied receiving an antitrust subpoena from the U.S. Department of Justice and its stock price rose slightly in after-hours trading, Cointelegraph reported.
An Nvidia spokesperson said the company had not received a subpoena but was willing to answer any questions from regulators. Nvidia emphasized that its products win by performance and customer value, and customers are free to choose the best solution.
The Justice Department has reportedly recently asked tech companies questions about Nvidia’s business practices, including hardware bundling, following reports that the department had subpoenaed Nvidia and other companies in its investigation.
● CFTC charges Uniswap Labs with illegal trading and fines it $175,000
According to Odaily Planet Daily, the U.S. Commodity Futures Trading Commission (CFTC) accused Uniswap Labs of providing illegal digital asset derivatives transactions and required Uniswap Labs to pay a civil penalty of US$175,000 and stop violating the Commodity Exchange Act (CEA).
● Binance Research: Blockchain payment will be a new starting point for the payment industry
According to a report released by Binance Research, the global payment industry, while developing rapidly, still relies mainly on 50-year-old banking infrastructure. Modern payment technologies such as Stripe, Mastercard, and Visa have improved the user experience, but the multiple intermediaries involved in each transaction increase costs. Blockchain technology provides a new global payment infrastructure that can significantly reduce the cost and speed up cross-border payments. Institutions such as Visa have begun piloting global payment settlements on public blockchains, and individual users also enjoy fast, low-cost cross-border transfers through products such as Binance Pay.
● Binance appoints Grant Thornton as global accounting and tax advisor
According to the Binance blog, Binance announced that it has appointed Grant Thornton Singapore, a leading business and professional services firm, to provide global accounting and tax advisory services to prepare for future audits of its global business. In the 2023 fiscal year alone, Binance entities have completed 25 audits to date and received unqualified opinions.
