On September 4th, due to the continued contraction of the US August ISM Manufacturing Index was less than expected, concerns about recession have risen again. Traders have fully priced in rate cuts, and overnight US stocks have fallen across the board. The cryptocurrency market has also faced selling pressure, with Bitcoin falling 2.83% to $56,228 and Ethereum falling 2.43% to $2,369 at the time of writing. $Bitcoin (BTC.CC)$ Analyst: The Fed's interest rate decision may briefly boost Bitcoin. $Ethereum (ETH.CC)$ Analysts say that the Federal Reserve's interest rate decision this month could have a significant impact on Bitcoin's short-term volatility and long-term trend. Bitfinex analysts stated that a 25 basis point rate cut could signal the start of a typical easing cycle, while a more aggressive 50 basis point cut could lead to an immediate surge in Bitcoin prices, but with increasing concerns about economic recession, a pullback may follow.
Analyst: The Fed's interest rate decision may briefly boost Bitcoin.
Analysts say that the Federal Reserve's interest rate decision this month could have a significant impact on Bitcoin's short-term volatility and long-term trend. Bitfinex analysts stated that a 25 basis point rate cut could signal the start of a typical easing cycle, while a more aggressive 50 basis point cut could lead to an immediate surge in Bitcoin prices, but with increasing concerns about economic recession, a pullback may follow.
Matrixport: Bitcoin's dominance reaches a new high in the cycle, and the season of altcoins is yet to come.
Matrixport released a chart report pointing out that there are always opportunities for a bull market in the market. Although cryptocurrencies have experienced a typical summer downturn, Bitcoin's dominance has reached a new high in the cycle. This not only means that it is not yet the season for altcoins, but also reflects the strong preference for Bitcoin in the market. For the entire industry, Bitcoin remains a reliable pillar. Since the birth of digital currency 15 years ago, Bitcoin has proven its resilience. Whether in a bear market or a bull market, this stability has always been the anchoring force of the market, especially when trading volume remains strong.
SEC Commissioner Mark T Uyeda called for the creation of a dedicated S-1 registration form for digital asset securities. Uyeda pointed out that the SEC has the flexibility to tailor registration requirements for specific financial products, and this practice should be extended to the field of cryptocurrencies and digital asset securities. He emphasized that the SEC should not create a "double bind" by requiring issuers of digital asset securities to provide irrelevant or unavailable disclosure information. Uyeda also stated that the SEC should clarify which digital assets fall within the category of securities and consider the practices of other jurisdictions globally in future rulemaking. However, digital assets are not currently included in SEC Chairman Gary Gensler's regulatory agenda.
The SEC Commissioner, Mark T Uyeda, stated at the 2024 Korea Blockchain Week event that the SEC needs to create a dedicated S-1 registration form for digital asset securities. Uyeda pointed out that the SEC has the flexibility to tailor registration requirements for specific financial products, and this practice should be extended to the field of cryptocurrencies and digital asset securities. He emphasized that the SEC should not create a 'double bind' by requiring issuers of digital asset securities to provide irrelevant or unavailable disclosure information. Uyeda also stated that the SEC should clarify which digital assets fall within the category of securities and consider the practices of other jurisdictions globally in future rulemaking. However, digital assets are not currently included in SEC Chairman Gary Gensler's regulatory agenda.
The crypto project World Liberty Financial, supported by Donald Trump, is rumored to be based on the code of Dough Finance. The project will be built on the decentralized finance platform Aave and the Ethereum blockchain, using a non-transferable governance token WLFI and a credit account system. The inspiration for this project is said to come from the DeFi protocol Dough Finance, although it has not been confirmed whether its codebase will be used. Zachary Folkman and Chase Herro, co-founders of Dough, are also involved in the project's operation. Members of the Trump family, including Donald Trump Jr., Eric Trump, and Barron Trump, are all involved in the planning of the project. The Trump family has alerted the public to potential scams and stated that official announcements will be made through their channels.
The crypto project World Liberty Financial, associated with Donald Trump, will be based on the decentralized finance platform Aave and the Ethereum blockchain, adopting a non-transferable governance token WLFI and a credit account system. The project is said to have drawn inspiration from the DeFi protocol Dough Finance, although it is yet to be confirmed whether its codebase will be used. Zachary Folkman and Chase Herro, co-founders of Dough, are also involved in the operation of this project. Members of the Trump family, including Donald Trump Jr., Eric Trump, and Barron Trump, are all participating in the project's planning. The Trump family has urged the public to be aware of potential scams and stated that official announcements will be made through their channels.
Editor/Somer