Fed Not Ready to Cut Interest Rates This Week
According to Nick Timiraos, a Wall Street Journal writer and known as “the voice of the Fed,” Fed officials believe that an interest rate cut is ultimately inevitable, but no such move is expected at this week’s meeting.
Officials are divided into three different camps: those who want an immediate cut, those who want to wait for more data, and those who remain cautious. All eyes will be on Fed Chair Jerome Powell’s statement to see if he will give any indication of a possible move in September.
SEC Postpones Trump’s Truth Social Bitcoin ETF Decision
According to Decrypt, the US Securities and Exchange Commission (SEC) has delayed Trump’s Bitcoin spot ETF application for his Truth Social platform. Similarly, Grayscale’s Solana Trust is among other funds whose review period has been extended. These delays come as the US Congress continues its work on crypto regulations.
Trump Family’s Crypto Project WLFI Invests in ETH
According to Onchain Lens data, World Liberty Fi (WLFI), a crypto venture linked to the Trump family, purchased 256.75 ETH at an average price of $3,895. The purchase was made using $1 million worth of USDC.
WLFI’s investment strategy indicates continued institutional interest in Ethereum.
Joe Lubin: Sharp Link Could Be a Leader in ETH Accumulation
Ethereum co-founder Joe Lubin reiterated his support for Sharp Link Gaming’s Ethereum strategy. In an interview with Coin telegraph, Lubin said, “I believe they could be the fastest-growing company in terms of equity on an ETH basis.” This statement came after the company recently purchased over 77,000 ETH as collateral.
Lido Founder Borrows 85 Million USDT from Aave to Purchase ETH
According to on-chain analysis platform Lookonchain, Lido founder Konstantin Lomashuk borrowed 85 million USDT from Aave. Of this amount, 80 million USDT was transferred to Amber Group, which then purchased approximately 15,814 ETH (approximately 59.75 million USD). This move reflects expectations of an increase in ETH prices.
Political Conflict Over Stablecoin Regulation in South Korea
According to Decrypt, the ruling and opposition parties in South Korea have submitted two separate bills on stablecoins.
The ruling party emphasizes innovation and market reliability, while the opposition party proposes banning interest payments on stablecoins and imposing higher capital adequacy requirements. Both bills include regulatory bodies with emergency powers and full reserve requirements.
Australia’s First Bitcoin Spot ETF Reaches 962 BTC
The IBTC spot Bitcoin ETF operated by Australia-based Monochrome reached 962 BTC as of July 28. The fund’s total value was reported to be approximately 175 million Australian dollars. This increase indicates strong institutional investor interest in the region.
Bitcoin Spot ETFs Recorded $157 Million in Net Inflows
According to SoSoValue data, Bitcoin spot ETFs saw a total of $157 million in net inflows yesterday.
Blackrock’s IBIT ETF was the top performer with 147 million $ in inflows, while Fidelity’s FBTC ETF came in second with 30.88 million $ in inflows. ARKB ETF, meanwhile, saw the highest net outflow of 17.45 million $.
