1. CME Fed Watch: The probability of a 50 basis point rate cut by the Fed in September is 24%.
2. Pavel Durov, the founder and CEO of Telegram, has been arrested in France.
3. The cumulative net inflow of the US Bitcoin spot ETF has exceeded $17.8 billion, reaching a historical high.
The cumulative net inflow of the US Bitcoin spot ETF since its launch has reached $17.88 billion, reaching a historical high. Specifically: BlackRock's IBIT has a cumulative net inflow of $20.707 billion; Fidelity's FBTC has a cumulative net inflow of $9.892 billion; Grayscale's GBTC has a cumulative net outflow of $19.732 billion. -Original
4. FTX creditors oppose the bankruptcy plan, stating that creditors should not bear the cost of data breaches.
The complaint submitted by the US trustee overseeing FTX's bankruptcy listed ten complaints against the bankruptcy plan, including overly broad legal protection for the bankrupt entity, unequal treatment of smaller creditors, and failure to provide waivers for expenses related to the bankruptcy's data breach. Activist creditors such as Sunil Kavuri submitted separate complaints, arguing that the plan should allow for physical distribution to help creditors avoid hefty tax bills, and more. -Original
5. Large BTC spot holders have appeared, and a large order has been executed for $6.43 million.
Large orders can be used in conjunction with the open interest differential indicator to judge the opening and closing of large positions. Opening a PRO membership allows for timely tracking of large traders' buying and selling operations. -Original
6. ETH has risen by 5.00% in the past 24 hours, and is now trading at $2804.16.
OKX - FET price has fluctuated, with the current price at $1.29, a 24-hour price increase of 20.56%. The trading volume in the past 24 hours is $440 million, with an increase of 28.84%. Data is for reference only. -Original
7. SOL has broken through the $160 mark, with a 24-hour increase of 10.65%.
8. Former employee of the Ethereum Foundation: A $100 million annual budget for the foundation is not unreasonable.
In response to Aya Miyaguchi, the executive director of the Ethereum Foundation, stating that the foundation's budget is $100 million, former Ethereum Foundation employee Hudson Jameson wrote on X platform that a budget of around $100 million per year for the foundation is not crazy. The reason people find it hard to understand this figure is because the foundation's structure and philosophy are not suitable for putting every project they participate in and carry out in one place. Some key expenses of the foundation that may have been overlooked include: 1. Global trademark protection legal fees to prevent fraudsters from using the Ethereum name or logo. 2. A large amount of servers and development infrastructure used by the foundation's internal and external protocol teams, such as hard fork testing, boot nodes, fork monitoring tools, and PSE infrastructure for setting up rituals. 3. http://ethereum.org (a non-operational website, but provides hosting, URLs, and pays fees to some major coordinators and contributors). 4. Research collaborations, such as VDF research conducted in collaboration with Filecoin a few years ago. 5. Devcon/DevConnect 6. Grants: The foundation issues a large number of grants each year, which account for a significant portion of the budget. 7. Salaries: Salaries for at least 200 people in each region where Ethereum operates. -Original
9. The executive director of the Ethereum Foundation explains that depositing 35,000 ETH into Kraken is part of financial management activities.
In response to the Ethereum Foundation depositing 35,000 ETH into Kraken, Aya Miyaguchi, the executive director of the Ethereum Foundation, wrote on X platform: "This is part of the Ethereum Foundation's fund management activities. The Ethereum Foundation's annual budget is about $100 million, mainly composed of grants and salaries, and some beneficiaries can only accept legal tender. For a long time this year, the Ethereum Foundation has been told not to engage in any financial activities because regulation is complex and plans cannot be shared in advance. However, this ETH transfer transaction does not equate to a sale, and there may be plans to gradually sell it in the future." -Original
10. The trading volume of BSC chain DEX has surpassed Solana, reaching $908 million.
In the past 24 hours, the trading volume of BSC chain DEX reached $908 million, surpassing the $855 million trading volume of Solana chain DEX. It ranks second, only behind the $1.78 billion trading volume of Ethereum chain DEX. -Original
11. Kraken's Chief Legal Officer: The court rejected the SEC's request to classify crypto assets as securities, but allowed the case to proceed to further trial.
Kraken's Chief Legal Officer Marco Santori stated, "The Northern District of California federal court ruled today that the tokens traded on Kraken are not securities. This is a major victory for Kraken, both for the clarity of the principle and for cryptocurrency users around the world. This also confirms Kraken's long-standing position of not listing securities. In addition, the court found the SEC's invented concept of 'cryptocurrency security' to be unclear at best and confusing at worst. The court also pointed out the SEC's strawman strategy, questioning why the SEC has consistently mischaracterized Kraken's position as requiring 'written contracts' to have securities. However, the court still allows for the case to proceed to evidence disclosure. Fundamentally, the court made the same distinction in the Kraken case as in the Ripple case: tokens are not securities, but the agreements surrounding tokens can be securities." -Original
12. Hyperlane: Nautilus Chain team terminates agreement, causing chain stoppage, users need to withdraw funds within 2 weeks.
Cross-chain application building platform Hyperlane stated on X, "The team behind the modular blockchain Nautilus Chain recently terminated an agreement with the infrastructure provider, resulting in the chain being stopped and user funds being trapped. Fortunately, the infrastructure provider has agreed to restart the chain for two weeks, until September 6, to allow users time to withdraw funds. Users need to withdraw funds within the next 2 weeks, otherwise they may face the risk of permanent loss of remaining funds on the Nautilus chain." -Original
13. QCP Capital: Bitcoin rebounds and breaks through key levels, with Fed rate cuts and the US election becoming future key factors.
QCP Capital's latest report indicates that Bitcoin has finally seen the long-awaited rebound. It seems that Powell's speech at Jackson Hole has become the catalyst for breaking through the $58,000 to $62,000 range. The rate cut in September has been confirmed, but the rate cut amount has not been specified, so the August employment data will be crucial. A 25 basis point rate cut could be seen as positive news, while a 50 basis point rate cut may indicate that the Fed is taking emergency action to prevent the economy from stagnating. Last night's rebound was mainly driven by the spot market, as funding rates remain stable. However, if the support level of $62,000 holds and with the end of the summer holidays approaching, an increase in leveraged long positions should be expected. In terms of options trading, an increase in top positions has been observed. Before Powell's speech, about 600 call options at $62,500 to $63,000 (now in-the-money) were bought. Even in the longer term for December and March, investors continue to increase their long positions at $80,000 to $85,000. BTC has steadily returned to the $61,000 to $70,000 range, selling pressure is gradually decreasing, and spot ETFs have seen net inflows on 10 out of the past 12 days. Similar to last night's situation, the crypto market seems to be looking for an opportunity to break out of the prolonged bullish flag pattern. Despite the upcoming Nvidia earnings report next week and the impending rate cut in September, we believe the spot market will fluctuate within this range until the fourth quarter. We still believe that the U.S. election, accompanied by seasonal factors of a bull market, could be a catalyst for reaching new all-time highs. -Original
14. OKB has broken through the $40 mark, with a 3.36% increase in the past 24 hours.
The above are the selected hotspots in the past 24 hours. For faster news, please download AICoin (aicoin.com)
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