🚀 Japanese Banks to Trial Stablecoin Platform for Cross-Border Transfers
#JapaneseBanks #Stablecoin #CrossBorderTransfers #ProjectPax #Blockchain #Progmat #SBIHoldings #JapanExchangeGroup #Datachain #TOKI #SWIFT #FinancialInstitutions #AntiMoneyLaundering #Compliance #FiatCurrency #Commercialization2025
According to BlockBeats, on September 6, Mitsubishi UFJ Bank, Sumitomo Mitsui Bank, and Mizuho Bank announced plans to trial a stablecoin platform aimed at facilitating cross-border transfers. The pilot project, named 'Project Pax,' will utilize stablecoins issued by blockchain startup Progmat, which is supported by SBI Holdings and the Japan Exchange Group. The initiative will be operated by Progmat, Datachain, and TOKI to test cross-chain transactions.
The project intends to leverage SWIFT's existing bank API framework to direct Progmat for settlement on blockchain networks. This approach aims to address anti-money laundering and other compliance challenges. The project statement highlighted that this method allows financial institutions to avoid operational redundancies associated with fiat currency transfers and minimize investment costs. 'Project Pax' will begin with a prototype, with the goal of commercializing the platform by 2025.#JapaneseBanks #Stablecoin #CrossBorderTransfers #ProjectPax #Blockchain #Progmat #SBIHoldings #JapanExchangeGroup #Datachain #TOKI #SWIFT #FinancialInstitutions #AntiMoneyLaundering #Compliance #FiatCurrency #Commercialization2025
🚀 Bitcoin(BTC) Surpasses 56,000 USDT with a Narrowed 1.25% Decrease in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #trading #marketdata
On Sep 06, 2024, 10:19 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 56,000 USDT benchmark and is now trading at 56,008 USDT, with a narrowed narrowed 1.25% decrease in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #trading #marketdata
🚀 US Business Leaders Endorse Kamala Harris for President
#KamalaHarris #BusinessLeaders #USPresidentialElection #Support #Leadership
According to BlockBeats, on September 6, CNBC reported that 88 current and former executives from the American business community have expressed their support for U.S. Vice President Kamala Harris to become the next President of the United States. This group includes notable figures such as James Murdoch, the former CEO of 21st Century Fox and heir to the Murdoch media empire, as well as Chris Larsen, co-founder of the Ripple blockchain platform.#KamalaHarris #BusinessLeaders #USPresidentialElection #Support #Leadership
🚀 Rare Ape-Themed CryptoPunk NFT Sells For $1.5 Million
#CryptoPunks #NFT #Ape #Ether #NFTsales #Crypto #digitalcollectibles #blockchain #washtrading #markettrends
According to Cointelegraph, the CryptoPunks non-fungible token (NFT) collection made headlines when a rare Ape-themed CryptoPunk sold for over $1.5 million on September 5. CryptoPunk #6915 was sold for 620 Ether (ETH), equivalent to around $1.48 million. This particular NFT is one of only 24 Ape-themed CryptoPunks and features three distinct attributes: a cap, an earring, and an eye patch.
Although the NFT sold for over a million dollars, the owner had received higher offers for the piece earlier this year. According to CryptoPunks data, in March 2024, when monthly NFT sales volume was approximately $1.6 billion, offers for Punk #6915 ranged from $5 million to $6 million. This means that the NFT’s value decreased by 78% since March.
The crypto community noticed the sale and shared their thoughts on X. One community member found it “weird” that the owner refused higher offers earlier this year, while another X user said that $1.5 million on a CryptoPunk in 2024 is “crazy.” Meanwhile, one community member thinks that the owner conducted a wash sale. The X user believes that a huge percentage of NFT sales are “insiders trying to create some kind of hype.” Wash trades are done to deceive market participants about an asset’s price or liquidity. It occurs when a trader buys and sells the same asset. In October 2021, CryptoPunk #9998 was sold for almost $500 million. However, data showed that the seller returned the ETH to the buyer to repay a flash loan.
On August 19, CryptoPunk #5822 changed owners. Its previous owner posted on X that it's the “end of an era,” as onchain data shows that the NFT was transferred to a different wallet. The NFT investor did not disclose the sale details, leaving the community to assume it was sold at a loss. In August, NFTs had their lowest monthly sales performance in 2024, going below $400 million for the first time this year. NFT data showed that digital collectibles are down by 76% compared to its highest monthly sales volume record in 2024.#CryptoPunks #NFT #Ape #Ether #NFTsales #Crypto #digitalcollectibles #blockchain #washtrading #markettrends
🚀 Charles Hoskinson Opposes Destruction Of Cardano Treasury Funds
#CharlesHoskinson #Cardano #ADATreasury #Crypto #Blockchain #CryptoCommunity #EconomicActivities
According to BlockBeats, on September 6, Cardano founder Charles Hoskinson expressed his opposition to the destruction of over 1.5 billion ADA from the treasury on the X platform. Hoskinson emphasized that the treasury funds are not pre-mined tokens that appeared out of nowhere. Instead, they are accumulated through taxes imposed on block production and transactions. The entire treasury is derived from the efforts of people building modules and engaging in economic activities. Hoskinson argued that burning the treasury funds would essentially be stealing from every ADA holder.#CharlesHoskinson #Cardano #ADATreasury #Crypto #Blockchain #CryptoCommunity #EconomicActivities
🚀 Crypto VC Funding Sees Resurgence In August
#Crypto #VCFunding #Blockchain #Investment #Web3 #Infrastructure #AI #RegulatoryClarity #ETFs #Startups
According to Cointelegraph, crypto venture capitalist (VC) funding experienced a notable resurgence in August, despite the broader crypto market's summer illiquidity. Data from DefiLlama indicates that crypto VC funding rose to $633 million in August, marking a 15% increase from $550 million in July.
Most of this renewed VC interest was directed towards blockchain infrastructure development firms. Luca Prosperi, CEO and co-founder of M^0 Labs, a payments protocol, highlighted the ongoing investment at various levels of blockchain development. Prosperi anticipates continued investment in infrastructure, middleware, and application layers, drawing parallels to the tech boom of the late 1990s and early 2000s.
The surge in blockchain investment suggests a shift in VC interest back to crypto from the artificial intelligence (AI) sector. This trend is exemplified by VC firm Lemniscap, which secured a $70 million fund targeting early-stage Web3 startups on August 28.
Earlier in the summer, AI-related startups had dominated VC attention, with significant investments such as Sentient's $85 million funding round in June. However, Prosperi notes that as the AI sector reaches saturation, deep-tech investors are refocusing on crypto, partly due to a perceived more favorable regulatory environment.
Investors are also looking for more regulatory clarity in the crypto space, especially following the upcoming US elections in November, which could influence global regulatory frameworks for the next four years.
Despite the growing interest in blockchain infrastructure, the crypto sector still needs more real-world use cases to attract VC investment to the application layer. Ganesh Swami, CEO and co-founder of Covalent, pointed out that while infrastructure investments are currently favored, the sector needs a significant user base to drive app development. Swami also noted that the approval of Bitcoin and Ether-based exchange-traded funds (ETFs) has been a catalyst for the returning VC interest from the AI space.#Crypto #VCFunding #Blockchain #Investment #Web3 #Infrastructure #AI #RegulatoryClarity #ETFs #Startups
🚀 WHY Reaches New High In Liquidity Pool Value On BNBChain
#WHY #BNBChain #TotalValueLocked #TVL #liquiditypool #cryptocurrency
According to Odaily, official data reveals that WHY has achieved a significant milestone on BNBChain. The Total Value Locked (TVL) for WHY reached $16.7 million today, marking a new high in the value of its liquidity pool.#WHY #BNBChain #TotalValueLocked #TVL #liquiditypool #cryptocurrency
🚀 Economists Predict Rebound in Employment After Weak July Report
#Economics #Employment #JobMarket #Unemployment #FederalReserve #InterestRates #Recession #JobGrowth
According to Odaily, a Bloomberg survey indicates that economists generally expect a rebound in employment following a weak report in July. The forecast suggests an increase of 165,000 non-farm jobs and a slight decrease in the unemployment rate to 4.2%. The previous month's data showed a significant underperformance, with only 114,000 non-farm jobs added, far below the expected 175,000, and the unemployment rate rising from 4.1% to 4.3%, the highest since October 2021.
If weak employment data continues for a second consecutive month, it may reinforce the market's belief that the Federal Reserve's high-interest rates have been maintained for too long. Currently, the U.S. benchmark interest rate is at its highest level in 23 years, ranging from 5.25% to 5.5%, which could increase the likelihood of an economic recession.#Economics #Employment #JobMarket #Unemployment #FederalReserve #InterestRates #Recession #JobGrowth
🚀 Nobel Laureate Stiglitz Criticizes Fed's Rapid Rate Hikes
#NobelLaureate #JosephStiglitz #FederalReserve #InterestRates #MonetaryPolicy #Inflation #Economics #RateHikes #JPMorgan #NonFarmPayroll
According to Odaily, Nobel Prize-winning economist Joseph Stiglitz expressed his concerns on Friday at a forum in Cernobbio, Italy, stating that the Federal Reserve has moved 'too far, too fast' with its monetary policy tightening. Stiglitz emphasized that the Fed should consider lowering interest rates by 50 basis points in its upcoming meeting. He criticized the central bank for exacerbating inflation issues through its aggressive rate hikes.
Stiglitz's comments came ahead of the release of the non-farm payroll data for August, which investors are closely monitoring for indications of the Fed's potential rate cut this month. Stiglitz, who was awarded the Nobel Prize in Economics in 2001 for his market analysis, joined JPMorgan's chief U.S. economist in calling for a significant rate cut this month.#NobelLaureate #JosephStiglitz #FederalReserve #InterestRates #MonetaryPolicy #Inflation #Economics #RateHikes #JPMorgan #NonFarmPayroll
🚀 Libre Launches Web3 Protocol To Bring Investment Funds To Aptos Network
#Libre #Web3 #Aptos #InvestmentFunds #Tokenization #DeFi #Blockchain #RealWorldAssets #TradFi #Cryptocurrency #SmartContracts #AssetTokenization #CollateralizedLending #MarketNeutralFund #APT
According to Cointelegraph, infrastructure provider Libre is introducing a new Web3 protocol aimed at bringing investment funds to the Aptos network. The initial funds to be deployed on the Aptos layer-1 include Brevan Howard Master Fund, Hamilton Lane’s Senior Credit Opportunities Fund, and BlackRock’s ICS Money Market Fund, which collectively manage over $91 billion in assets.
Libre, a joint venture between WebN Group and Nomura’s Laser Digital, will act as the core infrastructure for integrating real-world assets (RWAs) on Aptos. Libre’s Gateway DeFi DApps will enable accredited, professional, and institutional investors to access these funds onchain. This initiative follows previous deployments of the same portfolio on the Solana and Near blockchains.
Tokenization, the process of converting real-world assets into digital tokens, allows for fractional ownership and trading on blockchain systems. This method is particularly beneficial in private equity markets, where it enables smaller investors to trade and gain exposure to large, illiquid assets. Data from Dune Analytics indicates that over $1.6 billion in securities had been tokenized as of September 5, with global bank Citi predicting the tokenization market could reach $5 trillion by 2030.
Mo Shaikh, co-founder and CEO of Aptos Labs, highlighted that Libre is leveraging Aptos Ascend, a product developed by Aptos Labs, to deliver new asset classes and financial services. This ensures users benefit from the reliability and sophistication of traditional finance (TradFi) combined with the decentralization and security provided by the Move programming language on Aptos.
The Libre protocol, which went live in the first quarter of 2024, supports asset tokenization and smart contracts on the Polygon network. It also facilitates collateralized lending and automated rebalancing of separately managed accounts (SMAs), and offers crypto-native funds, including Laser Digital’s new Market Neutral Fund.#Libre #Web3 #Aptos #InvestmentFunds #Tokenization #DeFi #Blockchain #RealWorldAssets #TradFi #Cryptocurrency #SmartContracts #AssetTokenization #CollateralizedLending #MarketNeutralFund #APT
🚀 Market Awaits US Nonfarm Payroll Data Amid Volatility Concerns
#USNonfarmPayroll #MarketVolatility #ImpliedVolatility #UnemploymentRate #EconomicData #Deribit
According to Odaily, Deribit's Asia-Pacific Business Head, Lin, stated on the X platform that the market is anxiously awaiting the release of the US nonfarm payroll data at 8:30 PM UTC+8. The implied volatility (IV) in the options market has surged as a result. The current market sentiment is highly sensitive, and if the data is unfavorable, with the unemployment rate falling below 4.3%, a significant downturn is expected.#USNonfarmPayroll #MarketVolatility #ImpliedVolatility #UnemploymentRate #EconomicData #Deribit
🚀 JPMorgan Reports Decline in Cryptocurrency Market Value
#JPMorgan #Cryptocurrency #MarketValue #Decline #ResearchReport #RetailParticipation #CryptoEcosystem #MacroeconomicFactors
According to Odaily, JPMorgan released a research report on Friday indicating that the total market value of cryptocurrencies stood at $2.02 trillion at the end of last month, marking a 24% decline from its peak in March. The report suggests that the market is currently awaiting the next catalyst to boost retail participation.
Led by analyst Kenneth Worthington, the team stated, 'Overall, we still believe the crypto ecosystem lacks significant catalysts, and therefore, we expect crypto token and asset prices to become more sensitive to macroeconomic factors.'#JPMorgan #Cryptocurrency #MarketValue #Decline #ResearchReport #RetailParticipation #CryptoEcosystem #MacroeconomicFactors
🚀 DWallet Network Rebrands To Pera To Enhance Project Development
#DWalletNetwork #Pera #Rebrand #ProjectDevelopment #ZeroTrustProtocol #DigitalAssets #Blockchain #DeveloperAccess #ZTP
According to Odaily, dWallet Network has rebranded itself as Pera in an effort to further advance the project and focus on simplifying developer access to Zero Trust Protocol (ZTP). The platform's core functionality remains unchanged, continuing to securely manage digital assets across multiple networks. The dWallet primitives still serve as the foundational building blocks that support the seamless operation of Zero Trust Protocol across various blockchains.#DWalletNetwork #Pera #Rebrand #ProjectDevelopment #ZeroTrustProtocol #DigitalAssets #Blockchain #DeveloperAccess #ZTP
🚀 Morgan Stanley Predicts Market Volatility Due To Employment Data
#MorganStanley #MarketVolatility #EmploymentData #FederalReserve #StockOptions #SP500 #ETFs #MacroeconomicData #Volatility
According to BlockBeats, on September 6, Morgan Stanley's sales and trading department indicated that the accumulation of positions and significant uncertainty regarding the Federal Reserve's interest rate decisions could lead to substantial market volatility triggered by employment data.
Morgan Stanley sales and trading experts, including Amanda Levenberg Goldsmith, stated that stock options suggest Friday's employment report will cause significant market movements. They added that such pricing is reasonable because the uncertainty surrounding the Federal Reserve's actions in two weeks is unprecedented, at least in this cycle.
The implied volatility of the S&P 500 index remains lower than the actual volatility, indicating that the stock market is becoming increasingly sensitive to macroeconomic data. Morgan Stanley's sales and trading department noted that options imply the S&P 500 index will fluctuate by 1.1% in either direction on Friday, while ETFs tracking the Russell 2000 and Nasdaq 100 indices suggest fluctuations of 1.84% and 1.37%, respectively.#MorganStanley #MarketVolatility #EmploymentData #FederalReserve #StockOptions #SP500 #ETFs #MacroeconomicData #Volatility
🚀 Symbiotic Launches Decentralized Frontend on Privacy-Preserving ENS Gateway
#Symbiotic #DecentralizedFrontend #Privacy #ENSGateway #ETHLIMO #Decentralization #UserSecurity #DeFi
According to Foresight News, the re-pledging protocol Symbiotic has announced the launch of its decentralized frontend on the privacy-preserving ENS gateway, ETH.LIMO. This development marks a significant step in enhancing privacy and decentralization within the Symbiotic ecosystem. The integration with ETH.LIMO aims to provide users with a more secure and private way to interact with the protocol, leveraging the privacy features of the ENS gateway. This move is expected to bolster user confidence and promote wider adoption of decentralized finance solutions.#Symbiotic #DecentralizedFrontend #Privacy #ENSGateway #ETHLIMO #Decentralization #UserSecurity #DeFi
🚀 US August Unemployment Rate Drops to 4.2%, Meeting Market Expectations
#US #UnemploymentRate #LaborMarket #EconomicIndicators #MarketExpectations
According to BlockBeats, the United States' unemployment rate for August has decreased to 4.2%, aligning with market expectations. This figure marks a decline from the previous month's rate of 4.3% and represents the lowest level since June of this year. The drop in the unemployment rate follows four consecutive months of increases, indicating a potential shift in the labor market's trajectory.#US #UnemploymentRate #LaborMarket #EconomicIndicators #MarketExpectations
🚀 Investors Anxious Over US Nonfarm Payroll Data, Nasdaq Futures Drop
#Investors #USNonfarmPayroll #Nasdaq #StockMarket #EmploymentData #UnemploymentRate #MarketAnxiety
According to BlockBeats, on September 6, AJ Bell Investment Director Russ Mould indicated that investors are feeling uneasy about the upcoming US nonfarm payroll data. The US stock futures opened weak, with the Nasdaq index falling by 1.2% and the VIX fear index rising. Over the past few months, the US nonfarm payroll data has caused significant disruptions in the stock market twice, and there may be more impacts this time. The market generally expects an increase of 160,000 new jobs in August, with the unemployment rate projected to decrease from 4.3% to 4.2%. Meanwhile, attention will also be on the revisions to historical data.#Investors #USNonfarmPayroll #Nasdaq #StockMarket #EmploymentData #UnemploymentRate #MarketAnxiety
🚀 US August Nonfarm Payrolls Increase By 142,000
#US #NonfarmPayrolls #JobMarket #Employment #Economy
According to Odaily, the United States saw an increase of 142,000 in seasonally adjusted nonfarm payrolls for August, falling short of the expected 160,000. The previous figure was revised down from 114,000 to 89,000. This marks the largest increase since June this year.#US #NonfarmPayrolls #JobMarket #Employment #Economy
🚀 Bitcoin Market Volatility Expected To Persist Amid Potential Rate Cuts
#Bitcoin #MarketVolatility #RateCuts #InstitutionalInvestments #ETFs #CryptoMarket #BTC
According to Odaily, OTC Capital CEO Brian Dixon has indicated that Bitcoin market volatility is likely to continue in the face of potential interest rate cuts. Dixon noted that while institutional investments and ETFs might play a crucial role in shaping market stability, volatility is expected to persist.#Bitcoin #MarketVolatility #RateCuts #InstitutionalInvestments #ETFs #CryptoMarket #BTC
🚀 Libre Expands Tokenized Fund Pools To Aptos Blockchain
#Libre #Aptos #TokenizedFunds #DeFi #InvestmentFunds #Blockchain #Web3 #Nomura #LaserDigital #BrevanHoward #HamiltonLane #BlackRock #APT
According to Foresight News, infrastructure provider Libre, established by WebN Group and Nomura's Laser Digital, is set to expand its tokenized fund pools to the Aptos blockchain. This move will introduce large investment funds to the platform. Libre's Gateway DeFi DApp will enable certified professional and institutional investors to access on-chain funds. The initial funds to be integrated include Brevan Howard's main fund, Hamilton Lane's Senior Credit Opportunities Fund, and BlackRock's ICS Money Market Fund. Previously, Libre had launched on Solana and NEAR.
Laser Digital is the cryptocurrency division of financial services company Nomura. WebN Group is a fintech and Web3 incubator founded by Laser Digital and Brevan Howard co-founder Alan Howard.#Libre #Aptos #TokenizedFunds #DeFi #InvestmentFunds #Blockchain #Web3 #Nomura #LaserDigital #BrevanHoward #HamiltonLane #BlackRock #APT