Headlines
Trump-related stocks and cryptocurrency concept stocks fell after the US election debate
After the US presidential debate, Trump Media Technology Group (DJT.O) fell 13% in pre-market trading. Blockchain stocks fell across the board, with MicroStrategy (MSTR.N) and Riot Platforms (RIOT.O) falling by about 3% and Coinbase (COIN.O) falling by 2%.
The annual rate of the US core CPI in August was 3.2%, the same as last month, in line with market expectations, after falling for four consecutive months. The US dollar index DXY rose by more than 20 points in the short term and is now at 101.67.
The U.S. core CPI monthly rate in August was 0.3%, in line with expectations and the previous value of 0.20%.
Industry News
Musk posted on the X platform to comment on the earlier US presidential election debate: While I think the debate moderator was unfair to Trump, Harriss (verbal performance) tonight exceeded most peoples expectations. That is to say, when it comes to dealing with specific matters, not just saying something that sounds good, I firmly believe that Trump will do better. After all, if Harris can achieve great things, why hasnt she done it yet? Biden (now) has little work, so she is basically in power. The question comes down to: Do you want the current trend to continue for 4 years or do you want to change?
Goldman Sachs CEO Solomon said that as the fall approaches, we expect to see two, possibly three, Fed rate cuts. The banks outlook is slightly weaker, and I still think a soft landing is the most likely outcome. The current speculation is that the Fed will first cut by 25 basis points, but 50 basis points is still possible.
The UK government has submitted a bill to Parliament that aims to clarify the legal status of digital assets, including cryptocurrencies, NFTs and tokenized RWAs, which will be defined as personal property under UK law.
The proposed legislation provides guidelines for the legal community in ownership dispute cases such as divorce, and provides protection for cryptocurrency owners affected by fraud or scams. The bill introduces a new category of property, beyond the existing categories of possessory property (such as money and cars) and movable property (such as debts and stocks).
According to on-chain analyst Embers monitoring, FTX/Alameda associated wallet H4y...gFZ redeemed 177,693 SOL (US$23.75 million) from Solana PoS staking 7 hours ago, and may transfer SOL to CEX in the future.
H 4 y...gFZ address currently still has up to 7.057 million SOL (US$943 million) pledged.
Grayscale: Grayscale Sui Trust is now open to qualified investors seeking to invest in SUI
Grayscale announced in a post on the X platform that its SUI trust fund Grayscale Sui Trust has been opened to qualified investors seeking to invest in SUI.
Morgan Stanley: CPI data has met expectations of a 25 basis point rate cut
Chris Larkin of Morgan Stanley E*Trade said that the market generally expects the Fed to cut interest rates by 25 percentage points next week, and todays CPI data was more or less in line with the target, in line with the expectation of a 25 basis point rate cut. Investors who hoped for a larger rate cut may be disappointed, but as inflation appears to be under control, the market may turn its attention back to economic growth, especially employment.
Market Forecast
Matrixport: Bitcoin trend may not be affected by the US election
Matrixport released a chart saying that although everyone is paying attention to the impact of the next US president on Bitcoin, in fact, the impact may be more reflected in the regulation of the Bitcoin ecosystem rather than Bitcoin itself.
The cryptocurrency has experienced strong gains during both Republican (2016-2020) and Democratic (2020-2024) administrations, so while the media is buzzing about the upcoming election, Bitcoin is likely to remain positive regardless of who wins the White House.
Project News
Polymarket hit a record 13.8 million visits in August, far exceeding Uniswap’s visits
Crypto analyst The DeFi Investor posted on the X platform that the prediction market platform Polymarket had a record 13.8 million visits in August, significantly exceeding Uniswaps 3.7 million visits in the same period. Polymarket is the killer application of this cycle.
StarkWare Ecosystem Director Reminds Fractal of Security Issues
The StarkWare ecosystem director posted on the X platform that Fractal Bitcoin may have security issues.
1. RPC credentials are hard-coded and cannot be configured through environment variables, and the RPC server is publicly exposed and vulnerable to attacks;
2. Allowing RPC connections from any IP address is also very dangerous, exposing the users node to potential attacks from anywhere;
3. Some settings allow ZeroMQ connections from any IP, which may bring security risks; removing the limit on the number of connections may lead to resource exhaustion;
4. The official GitHub organization or repository is difficult to identify, etc.
BounceBit: will switch from a whitelist system to a permissionless chain
BounceBit announced that a governance proposal will be released tomorrow, and BounceBit will transition from a whitelist system to a permissionless blockchain open to all developers and users.
During the whitelist phase, BounceBit focused on developing CeDeFi and BounceClub. In the new phase, the BounceBit team will continue to develop new DApps and infrastructure while providing rich developer resources, including private RPC, documentation, and technical support.
According to Cyvers Alerts, the wallet of Indonesian crypto trading platform Indodax conducted more than 150 suspicious transactions on different networks, with a total loss of approximately US$18.2 million. Suspicious addresses were exchanging various tokens for Ethereum.
