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Quick Take Summary is AI generated, newsroom reviewed. BlackRock bought 33,451 ETH, worth over $145 million, to add to its crypto portfolio. This purchase expands BlackRock's significant crypto holdings, which also include a large BTC position. The transaction reinforces BlackRock's commitment to the digital asset sector. The move signals growing institutional confidence and could encourage other investors to follow suit.References JUST IN: BlackRock buys 33,451.58 $ETH worth $145.1 million.
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Quick Take “Modular exchange” and Ethereum Layer 2 network Kinto is shutting down in the wake of a July exploit that drained 577 ETH, worth about $1.55 million at the time, from lending pools and crashed the value its K token. Kinto founder Ramón Recuero said the team has been working unpaid since July, and pledged $55,000 in a personal donation to reimburse hack victims. Kinto will return existing funds to lenders from its “Phoenix” effort to restart the platform, who will recover 76% of principal.
- 18:23Fed rate cut bets surge as initial jobless claims data confirms labor market weaknessBlockBeats News, on September 11, this Thursday, a U.S. government report showed that initial jobless claims surged to a nearly four-year high. The short-term interest rate futures market continues to increase bets on Federal Reserve rate cuts, shifting from expecting at least two rate cuts by the end of this year, to betting on four consecutive rate cuts from September to January next year, to fully pricing in three rate cuts within this year, meaning the Federal Reserve will cut rates at all remaining meetings this year. However, the August CPI increase was stronger than expected, which may prevent the Federal Reserve from starting aggressive rate cuts. The probability of a 50 basis point rate cut by the Federal Reserve in September rose slightly from 8% before the announcement to 10.9%. (Golden Ten Data)
- 18:23Analyst: The rise in initial jobless claims is related to anomalies in TexasBlockBeats News, on September 11, Jordan Rochester from Mizuho Bank pointed out that the surge in initial jobless claims was mainly driven by Texas. This may be the reason why the bond market gave back its earlier gains. "It's hard to get too excited about this spike in claims, and don't assume it will be a long-term trend, as it is mainly driven by anomalies in Texas." (Golden Ten Data)
- 18:22The S&P 500 Index Hits an Intraday All-Time HighBlockBeats News, on September 11, the S&P 500 Index reached an intraday all-time high. JPMorgan expects that the scale of US stock buybacks will increase by another $600 billion on top of this year's record $1.5 trillion. In just eight months, the global buyback scale has already reached last year's $1.37 trillion, which means it could reach $1.9 trillion in 2025, an increase of 38%. Despite strong trading volume, buybacks relative to market capitalization remain below historical peaks (2.6% in 2007, 5% in 2007). While IPO activity remains sluggish, record stock buybacks are reducing stock supply for the fourth consecutive year, continuing to support the market. (Golden Ten Data)