Headlines
▌Harris: Ready to debate with Trump on September 10
U.S. Vice President Harris told reporters that she is ready to debate with Trump on September 10.
She said: "I agreed to the previously agreed debate on September 10. He (Trump) also agreed before, but now, he is backing off. I am ready. I think voters should see the division of this campaign on the debate stage, so I am ready. Let's start."
Harris has reportedly received enough delegates to become the Democratic nominee. The Democratic National Convention will be held in Chicago from August 19 to 22.
▌OpenAI will launch AI search engine SearchGPT to compete with Google
OpenAI announced its entry into the search market and will launch the AI search engine SearchGPT. SearchGPT is an artificial intelligence-driven search engine that can access information on the Internet in real time.
OpenAI is reportedly testing a set of new search features with a small group of users that will answer questions with more timely information and prominent source links. This is the company's most direct challenge to Google to date. SearchGPT will be released as a prototype for a web browser and provide users with a standalone search experience, which can later be added to ChatGPT.
OpenAI declined to give a timeline for the launch of SearchGPT but said it would initially be open to users who sign up for a waiting list. It also said it is working with creator and publisher partners to get feedback on the new tool and plans to integrate the most successful search features into ChatGPT.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $65,750.43, with a daily change of +0.6%;
The latest transaction price of ETH is 3174.15 yuan, with a daily change of -4.9%;
BNB's latest transaction price is $570.96, with a daily change of -0.6%;
SOL's latest trading price is $171.81, with a daily change of -3.5%;
DOGE’s latest trading price is $0.1253, with a daily change of -2.2%;
XPR's most recent trading price is $0.6, with a daily change of -3.0%.
policy
▌Satoshi Action Fund founder: Key supporters in the U.S. Senate withdraw support for bill banning Bitcoin self-custody
Dennis Porter, founder of Satoshi Action Fund, said on social media that key supporters in the U.S. Senate withdrew their support for the bill to ban Bitcoin self-custody. "The letter-writing campaign of the Satoshi Action played an important role. The letter-writing campaign launched on December 21 last year won a major victory. Seven months later, Roger Marshall withdrew his support for the bill."
US regulators seek information on banks' relationships with fintech firms
The Federal Deposit Insurance Corporation (FDIC) and two other major U.S. bank regulators want more information about banks' relationships with fintech companies. The FDIC, the Federal Reserve and the Office of the Comptroller of the Currency are asking for details about those arrangements, including those related to deposit, payment and lending products and services. The regulators said in a joint statement Thursday that officials want industry and public input on "the nature and impact of banks' arrangements with fintech companies and effective risk management practices."
Jersey City Pension Fund in New Jersey, USA will invest in Bitcoin ETF
Jersey City, New Jersey, Mayor Steven Fulop announced on Thursday that the city’s pension fund will allocate a certain percentage of its investments to a Bitcoin exchange-traded fund (ETF).
Fulop wrote on social media platform X that Jersey City's pension fund is updating its documents with the SEC, similar to the pension fund in Wisconsin. The mayor estimates that the process will be completed by the end of the summer. Fulop said: "The question of whether cryptocurrencies and Bitcoin will continue to exist is basically over. Cryptocurrencies and Bitcoin have won. I have always believed in cryptocurrencies (experienced ups and downs), but in a broad sense, in addition to cryptocurrencies, I do believe that blockchain is one of the most important new technological innovations since the Internet."
Blockchain Applications
▌Arkham announces Coinbase Wallet integration
Arkham announced at X that it has integrated Coinbase Wallet. Users can now connect Coinbase Wallet to Arkham to track holdings and transactions directly on the platform.
Cryptocurrency
▌Independent US presidential candidate Kennedy hopes that US BTC holdings will match the size of US gold reserves
As rumors grow that President Donald Trump wants to build up a U.S. Bitcoin reserve, rival independent candidate Robert F. Kennedy Jr. says he’ll go a step further. In an interview on Wednesday, the independent candidate said he would urge the federal government to buy Bitcoin until its BTC holdings match the size of the country’s gold reserves.
▌Paradigm submits comments on CFTC's overly broad proposed rules on political event contracts and prediction markets
Paradigm said that the United States will hold a presidential election this year, and the results of the November election will have a profound impact on the world, the country, and especially cryptocurrencies. The prediction market has recently become the focus and predictive indicator of potential election results. The CFTC still decided to advance a proposed rule that completely bans political event contracts, while also significantly limiting the potential scope of implementation of the prediction market.
Paradigm raises significant concerns with the Event Contracts NPRM, which proposes a broad and unfettered ban on a wide variety of products that “prediction markets” that could otherwise further the Commodity Exchange Act’s goal of promoting responsible innovation. Urge the CFTC to completely revise or repeal this ill-conceived and technologically biased rule. Elections and democracy as a whole depend on accurate, real-time information; regulations should not ignore the forest for our democracy in favor of regulatory thickets.
▌BlackRock: Clients have little interest in cryptocurrencies other than BTC and ETH
BlackRock sees “little to no interest” from clients in cryptocurrencies other than Bitcoin (BTC) and Ethereum (ETH) and does not expect to see many cryptocurrency exchange-traded funds (ETFs) beyond the two core digital assets, Robert Mitchnick, BlackRock’s head of digital assets, said at the Bitcoin 2024 conference in Nashville, Tennessee on July 25.
▌The total market value of all stablecoins increased by $1.52 billion in the past 7 days
The stablecoin economy is experiencing new growth. The total market capitalization of all stablecoins increased by $1.52 billion over the past seven days. The growth over the past seven days was mainly driven by Tether (USDT), the largest stablecoin by market capitalization, which increased its supply by 1.2 billion. About $300 million of the growth came from Circle's USD Coin (USDC).
▌Writer Jimmy Song criticizes 2024 Bitcoin Conference for deviating from the spirit of Bitcoin
Writer Jimmy Song harshly criticized the first-day agenda at the 2024 Bitcoin Conference in Nashville, arguing that the discussions on banking, institutional investments, and U.S. exchange-traded funds that have gradually infiltrated the conference have deviated from the core value of Bitcoin. He emphasized that the greatness of Bitcoin lies in its freedom, independence, and self-sovereignty, and condemned the involvement of financial institutions such as BlackRock.
Song emphasized that Bitcoin should be kept away from the intervention of countries and multinational corporations. Independent media person Luke Rudkowski supported Song's point of view, believing that Bitcoin provides an opportunity for people to see the problems of the government and emphasizes that its decentralized nature can help individuals become independent of the national structure.
Important economic developments
▌Yellen praised Biden's "outstanding" economic performance and said the United States is on a soft landing
U.S. Treasury Secretary Yellen on Thursday praised U.S. President Joe Biden for achieving a "remarkable economic recovery" and said second-quarter GDP and inflation data confirmed that the United States is on the path of "stable growth and declining inflation." Yellen said Biden has restored America's standing in the world. This is the first time Yellen has spoken publicly on the topic since Biden ended his campaign and endorsed Vice President Harris as his successor. "I am extremely proud to serve the American people alongside him and Vice President Harris, and I look forward to continuing to advance American leadership around the world and deliver results for American families and businesses," Yellen said. Since Biden and Harris took office, the strong growth of the U.S. economy has created 15.7 million jobs. This is not an accident, but the result of the economic plan of the Biden and Harris administration, which helps maintain the resilience of the global economy.
▌Analysis: The market will usher in a wave of interest rate cuts in September
While stronger-than-expected U.S. second-quarter GDP data may ease some concerns about the economy, analysts noted that a higher-than-expected 2.9% core personal consumption expenditures price index (PCE) could spell trouble for the Federal Reserve. "While this is above target, it is falling, and combined with strong economic growth data, this reduces pressure on the Fed to cut interest rates next week," said Emma Wall of Hargreaves Lansdown in a report. "We expect the Fed, ECB and Bank of England to cut rates in September, which will be a wave of rate cuts. For investors focusing on U.S. stocks, we think there are opportunities for small-cap stocks with better value, despite the recent pullback in the Magnificent Seven."
▌The probability of the Federal Reserve keeping interest rates unchanged in August is 93.3%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 93.3%, and the probability of a 25 basis point rate cut is 6.7%. The probability of the Fed keeping interest rates unchanged in September is 0%, the probability of a cumulative 25 basis point rate cut is 88.6%, the probability of a cumulative 50 basis point rate cut is 11%, and the probability of a cumulative 75 basis point rate cut is 0.3%.
▌The three major U.S. stock indexes closed mixed, with most large technology stocks falling
The three major U.S. stock indexes closed mixed, with the Dow up 0.2%, the S&P 500 down 0.51%, and the Nasdaq down 0.93%. Most large technology stocks fell, with Google down more than 3%, Microsoft down more than 2%, Meta and Nvidia down more than 1%, Netflix and Amazon down slightly; Tesla rose about 2%. Ford Motor fell more than 18%, the largest single-day drop since 2008. Occupational health service provider Concentra Group opened below the issue price on the first day of its U.S. IPO, down more than 4%.
Golden Encyclopedia
What are Bitcoin whales?
Bitcoin whales are individuals or organizations that own large amounts of Bitcoin and are able to influence the market through their trading strategies. The term "Bitcoin whale" is often used to refer to holders who own a large amount of Bitcoin compared to smaller players, who are often referred to as "minnows" in the market. The owner of a wallet or cluster of wallets controlled by one entity may be an individual or a group that is pooling money for a large investment. Their large holdings are accumulated through mining, early investments, and other methods. Whales can hold large amounts of Bitcoin, which gives them the ability to manipulate the market through large purchases or sales of assets that cause price fluctuations. In the cryptocurrency space, large whales and extreme volatility are often linked.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
