U.S. New York Fed Manufacturing Index and Import Price Index Rise
According to Odaily Planet Daily data, the New York Fed Manufacturing Index rose to 11.9 in August, reaching its highest level since November 2024. In July, the U.S. Import Price Index increased by 0.4% month-on-month, marking the largest increase since April 2024. The data indicates a strong recovery in U.S. manufacturing and import costs.
Barclays: Powell’s Hawkish Stance Will Not Change with Employment Data
Barclays Bank stated that the latest employment data is unlikely to change Fed Chairman Jerome Powell’s cautious stance on interest rate policy. The bank expects a 25-basis-point rate cut in December, while emphasizing that expectations for a rate cut in September were overly optimistic. Powell’s reference to a “solid” labor market and his statement that policy remains only “slightly tight” suggest that hawkish FOMC members have not yet shifted course.
Regulatory Discussions on the GENIUS Act
The GENIUS Act in the US has sparked debate among banks, state regulators, and consumer groups. In particular, Section 16(d), which allows uninsured state banks to operate nationwide under OCC supervision, has been the focus of criticism. The banking lobby argues that loopholes in restrictions on stablecoin interest payments could lead to up to $6.6 trillion in deposit outflows. Coinbase management, however, claims that these estimates are exaggerated and that there has been no deposit loss at community banks.
BtcTurk Attack Suspected: Withdrawals Reach $54 Million
According to CertiK Alert, suspicious withdrawals from BtcTurk have reached $54 million. The exchange temporarily suspended crypto deposits and withdrawals after detecting abnormal hot wallet activity. The company stated that the majority of assets are securely held in cold wallets and that user assets have not been affected. TL transactions are continuing as normal.
Former White House Advisor Zandi Comments on Interest Rates
Mark Zandi, a former US economic advisor, stated that the current federal funds rate of 4.3% is high and that there is room for a 50-basis-point interest rate cut. Zandi argued that an earlier policy easing could be beneficial against the economic slowdown.
SharpLink Reports Huge ETH Reserve and Large Quarterly Loss
SharpLink Gaming announced in its second-quarter financial results that it has a reserve of 728,804 ETH, nearly all of which is staked. However, the company reported a net loss of $103.4 million due to the impairment of its LsETH assets and share-based payments arising from an agreement with Consensys. Revenue was $7 million, and gross profit was $2 million.
Synthetix Plans to Return to the Ethereum Mainnet
Synthetix founder Kain Warwick announced plans to return the project to the Ethereum mainnet to create a high-performance perpetual contract DEX. Warwick stated that a hybrid design combining an off-chain order book and a batch settlement engine is the most suitable solution, emphasizing that all funds will remain on the main network.
Controversial “Chat Control” Bill from the EU
The European Union has put forward a “chat control” bill that will be voted on October 14 and will require online platforms to scan user messages. While the bill aims to combat child abuse content, it raises concerns about privacy and mass surveillance. Nineteen member states support the bill, while Germany has yet to take a clear position.
Tether Minted 1 Billion USDT, Ethereum TVL Reached $95 Billion
According to Whale Alert data, Tether minted 1 billion USDT on the Ethereum network. Meanwhile, DefiLlama data shows that Ethereum’s total value locked (TVL) has surpassed 95 billion dollars, reaching its highest level since January 2022.
Strong Asset Table from DeFi Technologies
The company increased its assets under management (AUM) to $947 million by the end of July. Holding $26.4 million in cash and $26 million in digital assets, the firm generated $17.3 million in profit from arbitrage transactions alone in May. Adjusted revenue for 2025 is projected to reach $218.6 million.
Major Expiration Date for BTC and ETH Options
According to Greeks.live, 39,000 BTC and 280,000 ETH options will expire on August 15. The maximum pain point for BTC is set at $118,000, while for ETH it is $4,000. The total nominal value is approximately $6 billion.
TRON v4.8.1 in Full Validation Process
TRON’s new mainnet version v4.8.1 is currently in full validation before its official release in the fourth quarter. The plan to upgrade the SELFDESTRUCT command was also discussed in detail at the developer conference.
Czech Republic: Bitcoin Bribery Arrest of Dark Web Founder
Czech police arrested Tomas Jirikovsky, the founder of Sheep Marketplace, on allegations that he attempted to avoid a prison sentence by bribing the former Minister of Justice with 468 BTC (45 million dollars). This incident has reignited discussions about the traceability of Bitcoin transactions.
