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The market originally expected a "hawkish rate cut" from the Federal Reserve, but in reality, there were no additional dissenters, no higher dot plot, and the anticipated tough stance from Powell did not materialize.
Although this rate cut was as expected, there was an unusual split within the Federal Reserve, and it hinted at a possible prolonged pause in the future. At the same time, the Fed is stabilizing year-end liquidity by purchasing short-term bonds.
The surge in LUNA’s price and huge trading volume are not a result of fundamental recovery, but rather the market betting with real money on how long Do Kwon will be sentenced on the eve of his sentencing.
What have foreigners been most concerned about in the past 24 hours?
Cyber co-founder starts a new venture.
A cryptocurrency practitioner who once held libertarian ideals became disillusioned after reflecting on a career spent building "financial casinos," sparking a profound reflection on the divergence between the original aspirations and the current reality of the crypto space.
Powell pointed out that the U.S. labor market is cooling, with hiring and layoffs slowing down and the unemployment rate rising to 4.4%. Core PCE inflation remains above the 2% target, but service inflation is slowing. The Federal Reserve has cut interest rates by 25 basis points and started purchasing short-term Treasury bonds, emphasizing that the policy path needs to balance risks between employment and inflation. Future policies will be adjusted based on data. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its generated content are still in the process of iterative improvement.
The surge in LUNA's price and the enormous trading volume were not a fundamental resurgence but rather the market placing a bet in the form of significant money and assets on the eve of Do Kwon's sentencing, speculating on how long he will be sentenced for.
While this interest rate cut was as expected, there was a rare internal Federal Reserve divergence, hinting at a potential extended pause in the future. At the same time, they stabilized year-end liquidity by purchasing short-term bonds.
RaveDAO is rapidly growing into an open cultural ecosystem driven by entertainment, becoming a key infrastructure for Web3 to achieve real-world adoption and mainstream breakthrough.
- 07:04US OCC: 9 major banks previously refused to provide financial services to crypto firmsChainCatcher news, according to Cointelegraph, the US Office of the Comptroller of the Currency (OCC) released preliminary investigation results on Wednesday, showing that from 2020 to 2023, the nine largest banks in the United States imposed financial service restrictions on politically sensitive industries such as cryptocurrency. The OCC report pointed out that these banks made improper distinctions based on customers' legitimate business activities, either implementing restrictive policies or requiring enhanced scrutiny before providing services. In addition to cryptocurrency issuers and exchanges, the restricted industries also include oil and gas exploration, coal mining, firearms, private prisons, tobacco, and adult entertainment. Comptroller of the Currency Jonathan Gould criticized that large banks abuse government charters and market power. The OCC is continuing its investigation and may submit the findings to the Department of Justice. The banks under review include JPMorgan, Bank of America, Citibank, Wells Fargo, and nine other large national banks.
- 07:01Analyst: Stablecoin inflows to exchanges drop by 50%, putting pressure on bitcoin priceJinse Finance reported that CryptoQuant analyst Darkfost stated that one of the core reasons for bitcoin's current difficulty in rebounding is the lack of incremental liquidity. In the cryptocurrency market, the liquidity we refer to mainly points to stablecoins. Since August, the scale of stablecoin inflows into exchanges has gradually declined from $158 billion to the current approximately $76 billion, which means incremental liquidity has shrunk significantly by 50%. Meanwhile, the 90-day average inflow has also decreased, from $130 billion to $118 billion. This phenomenon indicates that bitcoin is facing a dilemma of shrinking demand, and the weakness in market demand is no longer sufficient to absorb the current selling pressure. At present, the market's downward trend remains unchanged, and the minor rebounds that have occurred during this period are mainly driven by a reduction in selling pressure rather than a resurgence of buying interest. For bitcoin, the key to starting a true bull market lies in whether new liquidity can successfully enter the market.
- 06:54The total value of tokens repurchased by Pump.fun exceeds $205 million, accounting for 13.8% of the circulating supply.According to ChainCatcher, as monitored by SolanaFloor, the total value of PUMP token buybacks by Pump.fun has exceeded $205 million, surpassing Raydium and making it the project with the highest cumulative buyback amount among all Solana ecosystem protocols. This buyback program has been running for only five months and has already repurchased 13.8% of the circulating supply.