Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal funds rate “immediately.”
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Elon Musk Criticizes Federal Reserve's Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos
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Fed Governor Bowman: Be cautious about rate cuts
Federal Reserve Governor Bowman said there are upside risks to inflation and the continued strength of the labor market, indicating that she may not be prepared to support a rate cut at the next meeting of U.S. central bank officials in September. She said that the progress made in reducing inflation in May and June was welcome, but inflation is still above the committee's 2% target, which is disturbing. I will remain cautious when considering adjusting the current policy stance. She also said that U.S. fiscal policy, the pressure on the real estate market from immigration, and geopolitical risks may all put upward pressure on housing prices, and the recent jump in the unemployment rate to 4.3% may exaggerate the extent of the cooling of the labor market. -
Cointime August 4 News Express
1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX -
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches. -
Trump team files complaint over Harris inheriting $96 million in Biden campaign funds
According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending. -
Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry
Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry. -
Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate
Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022. -
Cointime May 25 News Express
1. British media: 61,000 Bitcoins in Qian Zhimin case may belong to British police and Home Office -
Cointime's Evening Highlights for May 19th
1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week -
Custodia Bank loses lawsuit against Fed over rejection of master account application
Custodia Bank lost its lawsuit against the Federal Reserve for refusing its application for a master account. The judge ruled that the Federal Reserve has the right to decide whether to grant a master account. Judge Scott Skavdahl of Wyoming stated that federal law does not require the central bank to allow every qualified deposit institution to enter its master account system, and the evidence provided does not indicate that the Federal Reserve Board influenced a regional branch's decision to reject their account application.
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