1. Treasury Secretary Yellen stated that the Federal Reserve expects interest rates to further decline, hoping that the labor market and inflation can remain stable.
2. The head of digital assets at BlackRock stated that Bitcoin is seen as an emerging global currency substitute, as concerns about U.S. Treasury bonds intensify.
Robert Mitchnick, head of digital assets at BlackRock, stated in an interview with Bloomberg: "When we think about Bitcoin, we primarily see it as an emerging global currency substitute. With growing concerns about U.S. Treasury bonds, Bitcoin has become an attractive alternative reserve asset, unrelated to the value of the U.S. dollar." BlackRock's report stated that because of this, Bitcoin is valuable in helping investors diversify their portfolios. -Original
3. BlackRock has increased its Bitcoin holdings by 4,460 coins in the past two days, bringing the total to 362,192.679 coins.
BlackRock has increased its Bitcoin holdings by 4,460 coins in the past 2 days (worth approximately $289 million), bringing its total Bitcoin holdings to 362,192.679 coins, valued at around $22.9 billion. -Original
4. U.S. initial jobless claims have dropped to a 4-month low, potentially prompting the Federal Reserve to consider a faster rate cut.
U.S. initial jobless claims have dropped to 218,000, a 4-month low. Despite the rise in the U.S. unemployment rate and a slowdown in job creation in recent months, initial jobless claims have remained low. Economists state that this is because workers eligible for such benefits have not been unemployed. Although weekly layoff applications remain low, several large companies have announced or implemented layoff plans this month. Paramount Global conducted a second round of layoffs on Tuesday. General Motors announced last week that it would temporarily lay off two-thirds of the workers at a Kansas assembly plant until mid-2025. If layoffs increase in the coming months and more Americans find themselves unemployed, Federal Reserve officials may consider a faster rate cut than currently expected. -Original
5. Donald Trump calls for insider trading prosecution of Nancy Pelosi.
6. BNY Mellon receives approval from the U.S. Securities and Exchange Commission to provide cryptocurrency custody services.
7. The U.S. Foreign Affairs Committee passes a resolution demanding the release of Binance executive Tigran Gambaryan in Nigeria.
Former IRS special agent and Binance's head of financial crime compliance, Tigran Gambaryan, was detained after arriving in Nigeria in February. The resolution was passed by oral vote on Thursday, demanding the Nigerian government release Gambaryan and provide him with "unrestricted medical services." The legislative measure will next be submitted for a full vote in the House. -Original
8. The Federal Reserve launches the Benchmark Interest Rate Usage Committee to help the market use and understand benchmark interest rates.
Federal Reserve's Williams stated that the Federal Reserve has launched the Benchmark Interest Rate Usage Committee. The new committee will help the market use and understand benchmark interest rates. Williams did not comment on the economy and monetary policy. In addition, Federal Reserve Chairman Powell did not discuss monetary policy or economic outlook in his brief opening remarks at the New York Fed. -Original
9. Federal Reserve Board member Bowman states that the Federal Reserve is not responsible for ensuring every bank continues to exist, and in-depth study of deposit insurance is reasonable.
Federal Reserve Board member Bowman stated that "we are not responsible for ensuring that every bank continues to exist, and in-depth study of deposit insurance is reasonable. $250,000 may not be a 'magic number'." (Jinshi) Earlier, Nic Carter, partner at Castle Island Ventures, stated that if the U.S. regulatory agencies attempting to "strangle" the cryptocurrency industry do not force voluntary liquidation, the cryptocurrency-friendly bank Silvergate Bank may survive bankruptcy. He cited Silvergate's recent bankruptcy application and conversations with sources showing that the Biden administration told the bank it must limit crypto deposits to 15%, or face consequences. -Original
10. U.S. Securities and Exchange Commission Chairman Gary Gensler states that Bitcoin is not a security.
According to Watcher.Gura on the X platform, U.S. Securities and Exchange Commission Chairman Gary Gensler stated that Bitcoin is not a security. -Original
11. A New York judge rules that the case of Tornado Cash developer Roman Storm will proceed to trial.
A New York judge ruled during a telephone hearing on Thursday that the U.S. Department of Justice's case against Tornado Cash developer Roman Storm will proceed to trial. -Original
12. Robinhood and Revolut are exploring the launch of their own stablecoins.
According to market reports, Robinhood and Revolut are exploring the launch of their own stablecoins. -Original
13. South Korean financial regulatory agency warns that those involved in crypto scams with profits exceeding $4 million will face life imprisonment.
The South Korean financial regulatory agency issued a stern warning, stating that those involved in cryptocurrency scams with profits exceeding $4 million (approximately 5 billion Korean won) will face life imprisonment. This warning comes after the enactment of the 2024 South Korean "Virtual Asset User Protection Act," which aims to prevent cryptocurrency crimes, partly inspired by the events involving Terra/Luna founder Do Kwon and the collapse of the FTX exchange. Lee Bok-hyun, head of the Financial Supervisory Service (FSS), informed 16 digital asset industry executives that financial regulatory authorities will continue to strictly enforce the law. The new law also stipulates other penalties, including fines of 3 to 5 times the illegal profits and a maximum of one year of imprisonment. Additionally, the law requires virtual asset service providers (VASPs) to store at least 80% of customer funds in cold wallets and establish a network security incident reserve. -Original
14. PeckShield reveals that OnyxDAO has become the latest victim of a precision vulnerability attack, with losses exceeding $3.8 million.
According to PeckShield, OnyxDAO has become the latest victim of a precision vulnerability attack, with losses exceeding $3.8 million. This attack stemmed from a known precision issue in the CompoundV2 fork code it used. The stolen assets include 4.1 million VUSD, 7.35 million XCN, 5,000 DAI, 0.23 WBTC, and 50,000 USDT. The attacker successfully stole funds by manipulating the exchange rate in an almost empty market. -Original
The above are selected hotspots from the past 24 hours. For faster news, please download AICoin (aicoin.com).
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