🚀 Fed's Bostic Confident in Inflation Returning to 2%
#Fed #Bostic #Inflation #EconomicPolicy #SoftLanding #PricePressures #Employment
According to Odaily, Federal Reserve's Bostic has expressed increased confidence in the sustainable return of the inflation rate to 2%. He noted that price pressures are rapidly and broadly diminishing. Bostic also mentioned that the risks associated with inflation and employment are now balanced. The previously elusive soft landing might be within reach, although he is not yet ready to declare victory over inflation.#Fed #Bostic #Inflation #EconomicPolicy #SoftLanding #PricePressures #Employment
🚀 John Deaton Wins Republican Nomination for Massachusetts Senate Race
#JohnDeaton #MassachusettsSenate #RepublicanNomination #crypto #ElizabethWarren #cryptoLawyer #election2023 #politics #cryptocurrency #supporters
According to CoinDesk, prominent crypto lawyer John Deaton has secured the Republican nomination in the Massachusetts Senate race, setting up a contest against incumbent Sen. Elizabeth Warren. Deaton, who is well-known in crypto legal circles, received nearly two-thirds of the vote in the Republican primary, defeating engineer Robert Antonellis. Deaton's victory is seen as a significant moment for crypto enthusiasts who have been critical of Warren's stance on the industry.
Sen. Warren, a leading progressive and vocal critic of the crypto sector, has a substantial financial advantage, having raised almost $20 million for her campaign. Her previous electoral successes and current polling suggest she holds a strong lead against any Republican challenger. Warren's legislative efforts have included proposals that could significantly impact the crypto industry, making this race particularly noteworthy for those in the sector.
Despite the financial disparity, Deaton's win has energized his supporters. He received about $1.3 million in super-PAC support from the Commonwealth Unity Fund, backed by notable crypto figures such as Ripple Labs and the Winklevoss brothers. This support, however, pales in comparison to the spending by the Fairshake political action committee, which has heavily invested in other races to support crypto-friendly candidates.
Deaton's primary campaign raised approximately $1.8 million, including $1 million of his own money. His opponent, Ian Cain, who had the endorsement of crypto advocate Sen. Cynthia Lummis, raised about $400,000. Cain acknowledged his defeat but emphasized the progress made in highlighting the issues with current representation in Massachusetts.
As the general election approaches, Deaton's victory in the primary may bolster his argument for further industry support. However, the significant financial and political challenges posed by Warren's campaign suggest a tough battle ahead for Deaton and his supporters.#JohnDeaton #MassachusettsSenate #RepublicanNomination #crypto #ElizabethWarren #cryptoLawyer #election2023 #politics #cryptocurrency #supporters
🚀 Dune To Support Sonic Labs Network Data Upon Mainnet Launch
#Dune #SonicLabs #blockchain #dataanalytics #mainnet
According to BlockBeats, on September 4, Sonic Labs, formerly known as Fantom, announced via social media that the blockchain data analytics platform Dune will support viewing data on the Sonic network immediately after its mainnet launch.#Dune #SonicLabs #blockchain #dataanalytics #mainnet
🚀 Harvest Protocol Anticipates Historic Event This Week
#HarvestProtocol #HistoricEvent #YieldAggregation #CryptoNews #MajorUpdate
According to Odaily, the yield aggregation protocol Harvest has hinted at a significant announcement expected this week. In a recent post on the X platform, Harvest indicated that a historic event is on the horizon, suggesting that a major update or development may be unveiled in the coming days.#HarvestProtocol #HistoricEvent #YieldAggregation #CryptoNews #MajorUpdate
🚀 Stacks Network Partners With Anchorage For Token Custody Support
#StacksNetwork #Anchorage #TokenCustody #Bitcoin #Layer2 #Collaboration #STX
According to Foresight News, Bitcoin Layer 2 network Stacks has entered into a partnership with Anchorage. This collaboration will see Anchorage providing custody support for tokens on the Stacks network.#StacksNetwork #Anchorage #TokenCustody #Bitcoin #Layer2 #Collaboration #STX
🚀 Bitcoin(BTC) Surpasses 57,000 USDT with a Narrowed 1.60% Decrease in 24 Hours
#Bitcoin #BTC #Cryptocurrency #USDT #Binance #MarketData #Finance
On Sep 04, 2024, 14:44 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 57,000 USDT benchmark and is now trading at 57,022.011719 USDT, with a narrowed narrowed 1.60% decrease in 24 hours.#Bitcoin #BTC #Cryptocurrency #USDT #Binance #MarketData #Finance
🚀 🔥 Binance Appoints Grant Thornton as Global Accounting and Tax Advisor 🔥
#Binance #GrantThornton #GlobalAccounting #TaxAdvisor #FinancialGovernance #Transparency #RegulatoryCompliance #IFRS #Audits #FinancialReporting #Cryptocurrency #AccountingProcesses
According to a recent Binance Blog post, Binance has appointed Grant Thornton Singapore as its global accounting and tax advisor. This move aims to enhance Binance’s financial governance and prepare the company for future audits of its global businesses. Grant Thornton will assist Binance in aligning its accounting practices with International Financial Reporting Standards (IFRS), further strengthening Binance’s commitment to transparency and regulatory compliance.In 2023, Binance entities completed 25 audits, all receiving an unqualified opinion, signifying accurate and fair financial statements. Grant Thornton will offer non-audit services, including technical accounting, financial reporting, and tax advisory, to ensure robust documentation of cryptocurrency and non-crypto-related transactions in accordance with IFRS.Kaiser Ng, Binance’s Senior Vice President of Finance, emphasized the significance of this partnership in enhancing Binance's accounting processes. Chetan Hans from Grant Thornton echoed this sentiment, stating that their collaboration will help Binance meet its goal of aligning with global financial standards and preparing for future audits.#Binance #GrantThornton #GlobalAccounting #TaxAdvisor #FinancialGovernance #Transparency #RegulatoryCompliance #IFRS #Audits #FinancialReporting #Cryptocurrency #AccountingProcesses
🚀 1inch Token Sees 18% Price Increase After Team Purchase
#1inch #Token #PriceIncrease #Crypto #Blockchain #Investment #1INCH
According to Odaily, on-chain analyst Yu Jin disclosed that the price of the 1INCH token has surged from $0.22 to $0.27, marking an 18% increase. This rise follows a purchase made by the 1inch team earlier this morning.#1inch #Token #PriceIncrease #Crypto #Blockchain #Investment #1INCH
🚀 CoinDesk 20 Index Sees Decline With UNI And LTC Leading Gains
#CoinDesk #Index #UNI #LTC #MATIC #ATOM #crypto #cryptocurrency #marketanalysis
According to CoinDesk, the CoinDesk 20 Index experienced a decline, closing at 1784.85, which is a 2.1% decrease (-37.6) from the previous day's close. Out of the 20 assets in the index, only two showed positive performance. UNI led the gains with a 2.1% increase, followed by LTC with a 0.3% rise. On the other hand, MATIC and ATOM were the biggest laggards, with MATIC falling by 6.9% and ATOM by 4.2%. The CoinDesk 20 Index is a comprehensive index that is traded on various platforms across multiple regions worldwide.#CoinDesk #Index #UNI #LTC #MATIC #ATOM #crypto #cryptocurrency #marketanalysis
🚀 Wormhole Announces Global Multi-Chain Startup Program Sigma
#Wormhole #MultiChain #StartupProgram #Sigma #SigmaSprint #SeedFunding #Blockchain #Innovation
According to Foresight News, Wormhole has unveiled its global multi-chain startup initiative named Sigma. The program is structured into three segments: Sigma Sprint, Sigma Accelerate, and Sigma Seed. Sigma Sprint is set to commence on October 14, offering prizes and seed funding exceeding $1 million.#Wormhole #MultiChain #StartupProgram #Sigma #SigmaSprint #SeedFunding #Blockchain #Innovation
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🚀 Crypto Market Trends: Analyzing Post-High Corrections
#Crypto #MarketTrends #PriceCorrections #Cryptocurrency #Bitcoin #Ether #Volatility #Investing #Token #AllTimeHigh #WLD #DYDX
According to Blockworks, the cryptocurrency market has a history of significant price corrections following all-time highs. This pattern is evident across various tokens and cycles, with notable downturns occurring in 2018, 2021, and 2024. The data shows that many top cryptocurrencies experience substantial value drops, often by 80% or more, after reaching their peak prices. This trend is not limited to obscure tokens but also includes well-known cryptocurrencies like Bitcoin and Ether. Bitcoin has seen such corrections three times since 2017, while Ether has experienced it twice, albeit more quickly.
More than a dozen cryptocurrencies that set price records in the current cycle have already faced 80% drawdowns, including AEVO, STRK, WLD, W, ENA, DYM, and DYDX. Approximately three-quarters of the analyzed tokens have lost over 60% of their value. The challenge for these cryptocurrencies is to recover from these significant corrections. Historically, many tokens have struggled to return to their all-time highs, including prominent ones like Ether and Solana. The volatility of the crypto market is a key factor in these trends, with some tokens managing to bounce back while others do not.
Bitcoin typically bottoms out between 350 and 400 days after peaking, while Ether has done so in just over 200 days at the shortest and under 350 days at the longest. Currently, it has been around 200 days since Bitcoin's last peak, raising questions about whether this marks the top of the current cycle. The ongoing volatility and the ability of cryptocurrencies to recover from these corrections remain central to the market's dynamics.#Crypto #MarketTrends #PriceCorrections #Cryptocurrency #Bitcoin #Ether #Volatility #Investing #Token #AllTimeHigh #WLD #DYDX
🚀 CFTC Charges Uniswap Labs With Illegal Digital Asset Derivatives Trading
#CFTC #UniswapLabs #DigitalAssets #DerivativesTrading #CommodityExchangeAct #Regulation #LegalActions #UNI
According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) has accused Uniswap Labs of conducting illegal digital asset derivatives trading. The regulatory body has demanded that Uniswap Labs pay a civil penalty of $175,000 and cease activities that violate the Commodity Exchange Act (CEA).#CFTC #UniswapLabs #DigitalAssets #DerivativesTrading #CommodityExchangeAct #Regulation #LegalActions #UNI
🚀 Bitcoin(BTC) Surpasses 58,000 USDT with a 0.63% Increase in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #increase
On Sep 04, 2024, 15:53 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 58,000 USDT benchmark and is now trading at 58,037.171875 USDT, with a narrowed 0.63% increase in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #increase
🚀 Ethena Updates YT Rules for Pendle sUSDe Purchases
#Ethena #YT_rules #Pendle #sUSDe #Discord #crypto #update #PENDLE
According to Odaily, Ethena has announced an update to its YT rules on Discord. Users who purchase Pendle sUSDe will no longer need to supplement the leveraged portion of USDe funds. Additionally, YT points will remain valid. The official data will be updated and take effect tomorrow.#Ethena #YT_rules #Pendle #sUSDe #Discord #crypto #update #PENDLE
🚀 SEC No Longer Pursues Hedge Fund Fee Disclosure Rule
#SEC #HedgeFund #FeeDisclosure #Finance #MarketNews
According to Odaily, market sources indicate that the U.S. Securities and Exchange Commission (SEC) has decided not to pursue the reinstatement of the hedge fund trading fee disclosure rule.#SEC #HedgeFund #FeeDisclosure #Finance #MarketNews
🚀 Unstoppable Domains Expands To Base Blockchain
#UnstoppableDomains #BaseBlockchain #OptimisticRollups #DecentralizedDomains
According to Odaily, decentralized domain service Unstoppable Domains has announced its expansion to the Base blockchain. This move signifies Unstoppable Domains' support for the cryptographic standard Optimistic Roll-ups used by Base.#UnstoppableDomains #BaseBlockchain #OptimisticRollups #DecentralizedDomains
🚀 Aevo Repurchases 1 Million Tokens at Average Price of $0.317
#Aevo #Repurchase #Tokens #Crypto #Treasury #Blockchain #AEVO
According to Odaily, Aevo announced on the X platform that it repurchased 1 million AEVO tokens on September 2 at an average price of $0.317. The repurchased tokens have been transferred to the project's treasury multi-signature address.#Aevo #Repurchase #Tokens #Crypto #Treasury #Blockchain #AEVO
🚀 Ethena Labs Updates YT Token Requirements After Community Feedback
#EthenaLabs #YTtokens #USDe #communityfeedback #cryptoupdate #blockchain
According to BlockBeats, on September 5, Ethena Labs announced on their Discord channel that they have decided to remove all requirements related to the minimum effective USDe balance concerning YT tokens after considering community feedback from YT holders.
Users holding YT tokens will no longer have these tokens considered when calculating the minimum USDe balance. While YT tokens can still be used to increase a user's current effective USDe balance, they will not count towards the minimum required balance. These changes will be reflected in the application starting tomorrow.
Ethena Labs apologized for their oversight and expressed gratitude to community members for bringing this issue to the team's attention.#EthenaLabs #YTtokens #USDe #communityfeedback #cryptoupdate #blockchain
🚀 Enzyme Acquires Majority Stake in DeFi Protocol MYSO
#Enzyme #DeFi #MYSO #acquisition #onchain #assetmanagement #structuredproducts
According to Foresight News, decentralized asset management protocol Enzyme has announced the acquisition of a majority stake in DeFi protocol MYSO. MYSO specializes in providing on-chain structured products for high-net-worth individuals and government bonds. This acquisition aligns with Enzyme's vision to simplify and enhance on-chain asset management.#Enzyme #DeFi #MYSO #acquisition #onchain #assetmanagement #structuredproducts
🚀 SEC Extends Decision Deadline for Bitcoin and Carbon Credit ETFs
#SEC #BitcoinETF #CarbonCreditETF #CryptoRegulation #InvestingNews #FinancialRegulation
According to Odaily, the U.S. Securities and Exchange Commission (SEC) announced on Tuesday that it will extend the final decision deadline for the 7RCC Spot Bitcoin ETF and the Carbon Credit Futures ETF to November 21. The SEC stated that it is necessary to designate a longer period to issue an order approving or disapproving the proposed rule changes to allow sufficient time to consider the proposed rule changes and the comments related to them.#SEC #BitcoinETF #CarbonCreditETF #CryptoRegulation #InvestingNews #FinancialRegulation