Headlines
The U.S. unadjusted core CPI annual rate in July was 3.2%, falling for the fourth consecutive month, the lowest level since April 2021, in line with market expectations. The U.S. unadjusted CPI annual rate in July was 2.9%, falling for the fourth consecutive month, the first time it has returned to the 2-digit since March 2021, and the market expectation is 3%. (Jinshi)
Fed spokesperson: Feds September meeting debate will focus on 25bps or a larger 50bps rate cut
Nick Timiraos, the Fed mouthpiece, wrote that the July CPI data cleared the way for the Fed to start cutting interest rates at its next meeting. As the labor market has recently shown signs of potential weakness, the debate at the Feds September meeting will focus on whether to cut interest rates by a traditional 25 basis points or a larger 50 basis points. The inflation data released on Wednesday did not resolve this debate. Instead, the debate may depend on labor market reports, including weekly initial jobless claims and the August nonfarm payrolls report, which will be released on September 6. The inflation report released on Wednesday was mild, but the strong rise in housing costs may reduce enthusiasm for the data. However, Fed leaders have hinted that they are ready to start cutting interest rates next month, in part because inflation data in May and June were also much milder.
Binance Futures Launches BANANA USDT-Margined Perpetual Contract
According to the official announcement, Binance Futures will launch the BANANA USDT-based perpetual contract at 10:00 (ET) on August 15, 2024, with a maximum leverage of 50 times. The contract supports multi-asset mode, and users can use assets other than USDT as margin.
OKX will launch DOGS spot trading and pre-market trading contracts
According to the official announcement, OKX will open DOGS deposits at 5:00 pm (UTC+ 8) on August 14, conduct a call auction from 7:00 to 8:00 pm (UTC+ 8) on August 20, and officially open DOGS/USDT spot trading at 8:00 pm (UTC+ 8) on August 20. In addition, DOGS withdrawals will be open at 6:00 pm (UTC+ 8) on August 21. At the same time, OKX will deliver DOGS/USDT pre-market transactions (USDT margin delivery contracts) at 8:00 pm (UTC+ 8) on August 19.
Industry News
pump.funs fee account sold 222,073 SOL in the past three months and obtained 35.54 million USDC
According to Lookonchain monitoring, in the past 3 months, the pump.fun fee account sold 222,073 SOL and received 35.54 million USDC. Its total income was 615,439 SOL.
Cumberland has transferred 950 million USDT to multiple CEXs since August 5
According to 0x Scope monitoring, before the release of CPI data, the market observed that 1 billion USDT was minted. Subsequently, Cumberland received 183 million USDT and distributed it to multiple CEXs. Data shows that since August 5, Cumberland has transferred a total of 950 million USDT to major exchanges.
FOX Business reporter Eleanor Terrett posted on the X platform that she had discussed with Democrats in the government and the cryptocurrency industry about Harris team repairing relations with the crypto industry. Harris campaign team has done a lot of preparation for the repair meeting, but because no one really knows Harriss views on cryptocurrency policy, there are limits on what the team members can say and do. In previous meetings, Harris team showed willingness to listen but not make commitments.
Eleanor added that Democrats in the industry are mobilizing the masses to support Harris, but for voters, this mobilization will be more effective if they can get a clearer understanding of her own thoughts on digital asset policy. It will be a big step forward if we can see and hear the vice president speak at the Crypto 4 Harris conference tomorrow.
Earlier news, on the evening of August 8, Democratic Congressman Ro Khanna hosted a meeting on behalf of the Harris team aimed at repairing relations in the cryptocurrency industry.
Grayscale transfers 700 BTC worth $42.76 million to an unmarked address
According to Arkham monitoring, Grayscale transferred 700 BTC worth US$42.76 million to an unmarked address 7 minutes ago.
Project News
According to on-chain analyst Ember, the ZKasino project has not refunded the funds yet. Its founder Derivatives Monke (@Derivatives_Ape) issued an announcement on May 28 asking users to register for a refund of ETH, and only gave them three days to register. However, there was no follow-up after the registration.
The 10,515 ETH that should be returned to the user is currently located at the following two addresses:
0x42dc91caa486a1cbf921a8009404a590414285a3 (5, 271 ETH);
0x0ab4a19ab20bd1dde51a5d302721fcc30f34094d (5, 266 ETH).
The token economics of the gm.ai project token GM shows that there will be a 6% two-way transaction tax on the purchase and sale of this token.
Later, in response to the communitys concern about the GM token tax, founder Dexter said that in order to ensure transparency, all taxes on Meteora will be added back to the liquidity, and when CEX listings begin, the taxes will be canceled within a few weeks. In the early stages of the project, the tax setting is only valid on DEX. A peg plan will be launched later, where users can store their tokens until the tax is canceled, and then users will have more tokens to sell and more liquidity. This is just a gamification method.
Ouyi will delist FITFI and BLOCK currency pair leverage and perpetual contracts
According to the official announcement, OOY will delist the FITFI and BLOCK currency pair leverage and perpetual contracts at 4:00 pm on August 22, 2024 (UTC+8).
Investment and Financing
Ethereum Layer 2 development company Parfin has completed a $10 million Series A financing round, led by ParaFi Capital, with participation from Framework Ventures, L 4 Venture Builder and Núclea. It is reported that the company will continue with its second Series A financing round, with an estimated total fundraising of $16 million. The new funds will be used to develop its Rayls network and expand its global business. (TheBlock)
Rhinestone, a modular smart account infrastructure developer, announced the completion of a $5 million seed round of financing, led by 1kx, with participation from CoinFund, Lattice, Heartcore, Circle Ventures, Alchemy Ventures, zkSync and Cyber, as well as a group of angel investors. Rhinestone builds infrastructure for smart accounts, and the companys total financing has reached $5.42 million to date. (TheBlock)
Character Voice
At the just concluded X Space discussion on WBTC attended by Jupiter co-founder Meow, BitGo CEO Mike Belshe, and Justin Sun (BitGlobal), Belshe said about the recent cooperation and changes related to the WBTC project: “We could have concealed these things and waited for people to find out later. But we didn’t do that. Instead, we chose the difficult path of making sure everyone knew.
Everything we do is dedicated to advancing what we have been working on, and there are of course many details that cannot be listed one by one, which is almost impossible. So, if we have missed anything in the relevant announcement, please allow me to apologize to everyone. However, we hope that everyone can see that we (BitGo) are sincere and we are working hard to explain all the details to the outside world and make sure everyone understands this action.
